SNAP expects Q1 revenue of $1.529 billion, up 12% year-on-year

Glonghui April 15｜SNAP expects first quarter 2026 revenue to be 1.529 billion USD, a 12% year-on-year increase, and adjusted EBITDA to be 233 million USD. Snap plans to lay off 16% of its workforce, involving about 1,000 full-time employees, in pursuit of profitability targets. In addition, SNAP's newly established XR subsidiary, Specs, and Qualcomm announced a multi-year partnership for the upcoming AR glasses, with Qualcomm committing to provide Snapdragon chips for future iterations. Both companies reiterated that SNAP's next-generation Specs will be released “later this year.”