v3.26.1
Segments and Geographic Information
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Segments and Geographic Information
14. 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,
20262025
(in thousands)
Revenue$1,528,791 $1,363,217 
Less:
Infrastructure costs401,234 376,568 
Content and developer partner costs135,021 160,904 
Advertising partner and other costs125,871 99,151 
Operating expenses633,332 618,169 
Stock-based compensation and related payroll and other tax expense263,086 264,556 
Depreciation and amortization44,696 37,715 
Other segment items (1)
14,502 (54,259)
Net loss$(88,951)$(139,587)
(1)Other segment items primarily include interest income; interest expense; other income (expense), net; and income tax expense as reported in our consolidated statements of operations.
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, 2026
As of
December 31, 2025
(in thousands)
United States$769,064 $710,984 
United Kingdom247,581 245,911 
Rest of world (1)
127,957 127,396 
Total long-lived assets, net$1,144,602 $1,084,291 
(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.