Snap sees FY24 adjusted operating expenses $2.43B-$2.53B

Sees FY24 content and developer partner costs/advertising and other costs 19%-21% of revenue. Sees FY24 infrastructure cost per DAU 83c-85c. Says headcount and personnel costs will grow modestly as through 2024. Says total time spent watching Spotlight content increased more than 125% year-over-year. Says excited by progress with small- and medium-size advertising partners. Says onboarded over 1,500 Snap Stars in Q1. Says Snapchat+ subscribers more than tripled year-over-year, surpassing 9M subscribers in Q1. Says continues to invest in Generative AI models and automation for the creation of ML and AI Lenses. Comments and guidance taken from Q1 investor presentation slides.