Snap sees FY25 cost 19%-20% of revenue

Says reached 932,000,000 monthly active users in Q2. Says Snap (SNAP)chat+ approached 16,000,000 subscribers in Q2. Says believes there is an opportunity to better align Snap’s engineering and technology investments with business priorities. Says Snapchatters spending 30% more time video chatting year-over-year. Says time spent on Spotlight grew 23% year over year. Says introduced Lens Plus in Q2, which is a new Snapchat Plus subscription tier, offering access to new and exclusive lenses. Comments taken from Q2 presentation slides.