v3.25.1
Segments and Geographic Information
 3 Months Ended
Mar. 31, 2025
Segment Reporting [Abstract]  
Segment Reporting Disclosure Segments and Geographic Information
Our CEO is our chief operating decision maker (“CODM”). Our CODM evaluates performance and makes operating decisions about allocating resources based on financial data presented on a consolidated basis, accompanied by information about revenue disaggregated by geographic region. Because our CODM evaluates financial performance on a consolidated basis, we have determined that we have a single operating segment composed of the consolidated financial results of Snap Inc.
The measure used by our CODM to assess performance and make operating decisions is net loss as reported on our consolidated statements of operations. Net loss is used by our CODM to identify underlying trends in the performance of our business and make comparisons with the financial performance of our competitors. Our CODM also reviews total
assets, as reported on our consolidated balance sheets, and purchases of property and equipment, as reported on our consolidated statements of cash flows.
Our CODM also utilizes expense information in order to assess our financial performance. Infrastructure costs primarily consist of payments to third-party infrastructure partners for hosting our products, which include expenses related to storage, computing, and bandwidth. Content and developer partner costs primarily consist of fees paid to our content creators and publisher partners who share content on our platform through revenue sharing arrangements. Advertising partner and other costs primarily consist of payments to third-party partners for fulfillment services, transaction processing fees, and other expenses directly related to providing our services. Operating expenses include all remaining costs necessary to operate our business, which primarily include personnel expenses, facilities and related costs, promotional and marketing expenses, external professional services, and other administrative expenses. Operating expenses include charges recognized as research and development, selling and marketing, and general and administrative expenses within our consolidated statements of operations, but exclude stock-based compensation and related payroll and other tax expenses, depreciation and amortization, and restructuring charges, which are independently reviewed by our CODM.
The following table presents the significant segment expenses and other segment items regularly reviewed by our CODM:
Three Months Ended March 31,
20252024
(in thousands)
Revenue$1,363,217 $1,194,773 
Less:
Infrastructure costs376,568 337,506 
Content and developer partner costs160,904 148,245 
Advertising partner and other costs99,151 84,104 
Operating expenses618,169 579,259 
Stock-based compensation and related payroll and other tax expense264,556 270,685 
Depreciation and amortization37,715 38,098 
Other segment items (1)
(54,259)41,966 
Net loss$(139,587)$(305,090)
(1)Other segment items primarily include interest income; interest expense; other income (expense), net; and income tax benefit (expense) as reported in our consolidated statements of operations. Other segment items also include restructuring charges of $70.1 million for the three months ended March 31, 2024. No restructuring charges were incurred during the three months ended March 31, 2025.
The following table represents our long-lived assets, which includes property and equipment, net and operating lease right-of-use assets, by geography:
As of
March 31, 2025
As of
December 31, 2024
(in thousands)
United States$691,522 $682,173 
United Kingdom244,402 248,243 
Rest of world (1)
93,699 89,113 
Total long-lived assets, net$1,029,623 $1,019,529 
(1)No individual country other than the United States and the United Kingdom exceeded 10% of our total long-lived assets for any period presented.