Snap Inc Stock Price, News & Analysis

Snap Inc. (NYSE: SNAP) has priced $1 billion in 0% convertible senior notes due 2027, with an option for an additional $150 million. The sale is scheduled to close on April 30, 2021. These notes will not accrue interest and are expected to provide approximately $988.3 million in net proceeds, intended for general corporate purposes and capped call transactions. The initial conversion price stands at approximately $89.25 per share, a 47.5% premium over Snap's recent stock price. The company aims to manage dilution and may redeem the notes after May 5, 2024, under specific conditions.

Snap Inc. (NYSE: SNAP) plans to offer $1 billion in convertible senior notes due 2027 through a private placement for qualified institutional buyers. An additional $150 million may be purchased at the initial purchasers' option. Proceeds will be allocated for corporate purposes such as working capital and potential acquisitions. These notes are unsecured, accrue interest semiannually, and are convertible under certain conditions. Snap will engage in capped call transactions to reduce dilution risk. The notes have not been registered under the Securities Act.

Snap Inc. (NYSE: SNAP) reported Q1 2021 revenue of $770 million, a 66% increase year-over-year. Although the net loss was reduced to $(287) million from $(306) million, the company achieved its first positive Free Cash Flow of $126 million. Daily Active Users (DAUs) rose by 22% to 280 million. Significant product innovations were highlighted, including over 125 million users engaging with Spotlight. However, operating loss remained a concern at $(304) million. Snap's focus on expanding content offerings and augmented reality capabilities continues to drive user engagement.

Snap Inc. collaborates with the Los Angeles County Museum of Art (LACMA) to unveil Monumental Perspectives, a multi-year initiative featuring augmented reality monuments celebrating Los Angeles' diverse histories. The project introduces five immersive artworks accessible via Snapchat, including contributions from artists like Mercedes Dorame and I.R. Bach. These virtual installations can be experienced at various locations in Los Angeles and online at lacma.org/monumental. Supported by the Mellon Foundation, this initiative aims to transform public commemorative spaces.

Snap Inc. (NYSE: SNAP) will host its quarterly conference call on April 22, 2021, at 2:00 p.m. PT to discuss the first quarter 2021 financial results. Investors can access a live webcast and subsequent replay on Snap Inc.’s Investor Relations website for at least 90 days. Snap Inc. focuses on reinventing the camera, aiming to enhance how people live, communicate, and express themselves.

Snap Inc. (NYSE: SNAP) announced that Co-Founder and CEO Evan Spiegel will speak at the Morgan Stanley Technology, Media & Telecom Virtual Conference on March 3, 2021, at 11:00 a.m. Pacific Time. This session will focus on Snap's vision of reinventing the camera to enhance communication and expression. Investors can access a live webcast and replay on Snap's Investor Relations website for 90 days. For more details, visit investor.snap.com.

Snap Inc. (NYSE: SNAP) will host its Snap Partner Summit virtually on May 20, 2021. The event will feature a keynote by co-founders Evan Spiegel and Bobby Murphy, alongside other company leaders. Key announcements will focus on new products, features, and partnerships related to Snap's augmented reality and platforms aimed at creators and developers. The event starts at 9:45 a.m. PT, with the keynote at 10:00 a.m. PT. A replay will be available for 90 days on Snap's Investor Relations site and YouTube channel.

Snap Inc. (NYSE: SNAP) has filed its Annual Report on Form 10-K for the year ending December 31, 2020, with the SEC. This report includes the company's audited financial statements and is available for public access at investor.snap.com and www.sec.gov. Shareholders can request a printed copy by writing to the Corporate Secretary at Snap Inc.'s Santa Monica, California office. Snap Inc. aims to reinvent the camera to enhance communication and human progress.

Snap Inc. reported its Q4 2020 financial results showing a 62% revenue growth to $911 million year-over-year. Operating cash flow improved by $14 million to $(53) million, while free cash flow decreased by 9% to $(69) million. Net loss narrowed to $(113) million, down 53% from the previous year. Daily active users (DAUs) rose to 265 million, an increase of 22%. The company achieved its first full year of Adjusted EBITDA profitability and is optimistic about future investments in augmented reality and content.