Snapchat Is Still Losing Money 15 Years Later Despite 971 Million Monthly Average Users

SNAP remains unprofitable 15 years after launch despite reaching 971 million monthly active users and posting 19% year-over-year revenue growth. The company projects it won't achieve positive net income until 2027.

The growth picture shows cracks in SNAP's most valuable markets. Daily active users are declining in North America and Europe—the company's highest-revenue regions—while user gains come only from international markets that generate lower average revenue per user. META is widening the gap with 28% year-over-year growth, nine percentage points ahead of SNAP's pace.

The math presents a persistent challenge: SNAP's user base continues expanding into lower-monetization geographies while its premium markets shrink, compressing the path to profitability the company has outlined for 2027. META's faster growth rate in the same digital advertising market adds competitive pressure.