This document is Snap Inc.'s Quarterly Report (Form 10-Q) filed with the U.S. Securities and Exchange Commission (SEC) for the period ending June 30, 2025. It provides a comprehensive overview of the company's financial performance, including its consolidated statements of cash flows, operations, comprehensive income (loss), balance sheets, and stockholders' equity. The report also discusses key aspects of Snap Inc.'s business, such as its revenue generation primarily through advertising and subscriptions, trends in user metrics like Daily Active Users (DAU) and Average Revenue Per User (ARPU), and various risk factors including competition, regulatory scrutiny, cybersecurity, and the concentrated voting control of its co-founders. Additionally, it details the company's liquidity, capital resources, debt obligations, and stock repurchase programs, along with legal proceedings and internal controls, culminating in certifications from its CEO and CFO regarding the report's accuracy.