Q1 2020 Earnings Call

Logistical perspective, as well as in regard to the physical and mental well being of our team.

The third chapter will be the recovery, which we expect maybe very fast for some businesses and much slower for others.

And we are committed to helping our partners as we navigate this uncertain journey together.

The many difficult transitions and changes we made as a business over the past.

Okay.

Community that deeply values the service we provide.

An efficient AD for timing.

Delivers value for our advertising.

At this pace of innovation, driven by the creativity and operational excellence of our team.

I'm, so proud of and inspired by our team and the way they have risen to this challenge, while putting the health and safety of our community first.

Thanks, again for joining the call and with that I'll turn it over to Jeremy to share more about our business.

Thank you Adam we're pleased with our results for this quarter next a challenging and rapidly evolving global health crisis, and we continue to see significant upside opportunity for our business as we support our community and advertising partners through this difficult time.

In Q1, we generated total revenue of $462 million and increased at 44% year over year on consistent with our year over year growth rate in Q4 of last year.

We are confident that our business is well positioned for long term success evidenced by the high revenue growth rates, we achieved in the first two months of the quarter as well as our continued growth in the final until Q1.

The global outbreak of Cobot 19 has dramatically shifted the ways brands are thinking about reaching new audience as well.

Well friends and families are physically separated from each other on their regular routines snapshot or they are coming together virtually to maintain their franchise through visual communication self expression and storytelling.

Our sales teams have been focused on helping our brand partners craft thoughtful messages and create valuable experiences for snap chat or during these difficult times.

We are partnering with brands on how to best equipped the snapshot generation and help them discover new products and services as they spend more time at home and online.

We have identified many opportunities and we noticed snapshot as a destination where people will discover brands for the first time as the global health crisis changes, they're buying behaviors.

With this understanding our team has pivoted quickly to focusing our sales resources on categories that are best positioned in the current environment, such as gaming home entertainment ecommerce and consumer package goods. While also helping industries that have experienced outsized impacts to build long term roadmaps to recovery.

We had the opportunity to work closely with Adidas to adapt a new campaign for snapshot in response to the growing number of stay at home orders moving through Europe.

With this in mind I'd ask booked a national filter across the UK and Germany. They complemented that's with audience filters and commercials across other markets to encourage snap charters to stay home and to offer them creative fit and fun way is to stay active during this period.

Our team worked quickly with Heidi daus to help create their hash tag Hometeam campaign, and 24 hours with the filter being viewed more than 14 million times across the UK and Germany.

Our large audience creative format and advanced measurement tools provide a significant opportunity for brands such as our lead us to reach snap tatters during these challenging and unprecedented times.

Our team has also been working to provide useful products and resources for businesses as they manage the current economic landscape.

We've made our self serve tools more accessible than ever have lower minimum spends and our experimenting with local AD formats, such as wants to call, which we first launched in Minas specifically for local businesses and have now expanded the U.S. this quarter as evidenced by our strong performance in Q1 advertisers value, our large unduplicated and hard to reach.

Hi ends.

In the U.S., we continue to reach more than 90% of 13 to 24 year old and more than 75% of 13 to 34 year old and are more established international locales such as the UK, France, Canada, and Australia, we reached more than 80% of 13 to 24 year olds and more than 60% of 13 to 34 year olds.

We're also growing rapidly and other international markets, such as India, where we have recently been investing both time and resources to engage and grow our snapshot community.

Members of the snapshot generation or the consumers at a future had a significant lifetime values for our advertising partners and are in the process of building Brandloyaltys, which makes our audience extremely attractive to advertisers well advertiser demand has been disrupted by the cobot 19 pandemic, we remain focused on making progress against our ARPU opportunity through our three.

Key priorities.

First improving our ranking optimization and measurement to drive relevance and deliver ROI.

Second building on our sales and marketing functions to support the needs of our advertising partners around the world and third delivering innovative at experiences through video and augmented reality that deliver real business value.

Our three priorities along with our unique reach and growing global audience allow us to drive performance that scale for businesses around the world.

We've been investing in our first priority of improving ranking optimization and measurement since 2016, when our team made a difficult and deliberate decision to transition our AD business to an auction based to self serve platform.

In the subsequent years, we invested heavily in performance oriented products and services. As a result, we have made remarkable progress with advertisers looking to drive consistent measurable ROI launching dozens of new features over the last two years, such as bid optimizations for conversion events like App installs as well as advanced targeting and measurement capabilities.

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