What is Snap's proceeds from termination of capped calls?

Snap (SNAP) reported proceeds from termination of capped calls of $0 in Q4 2025.

What does proceeds from termination of capped calls mean?

Cash received from closing out derivative hedging positions.

How do you interpret proceeds from termination of capped calls?

Inflows often signal the unwinding of hedging positions or the successful management of convertible debt obligations.

How does proceeds from termination of capped calls compare across companies?

Occurs sporadically depending on the lifecycle of the company's convertible debt instruments.

Snap SNAP Proceeds from termination of capped calls

Discontinued — last reported Q4 '25

Proceeds from termination of capped calls at other companies

WayfairW

$12.25M+1,533%

InsuletPODD

$0-100%

Okta, Inc.OKTA

$500K—

SoFi Technologies, Inc.SOFI

$0—

Rivian Automotive, Inc.RIVN

$0—

HubSpotHUBS

$12.65M—

Other financials

Income statement

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Revenue$1.5B+12.1%

Gross profit$863.6M+19.3%

Operating income-$74.4M+61.6%

Net income-$89.0M+36.3%

EPS (diluted)-$0.05+37.5%

Balance sheet

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Cash & equivalents$1.1B+16.5%

Total debt$4.2B-0.2%

Total equity$2.1B-9.8%

Total assets$7.5B-1.2%

Cash flow

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Operating cash flow$326.8M+116%

CapEx$40.8M+9.6%

Free cash flow$286.0M+150%

Valuation

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Market cap$7.72B-47.4%

Enterprise value$10.86B-39.6%

P/S1.3×-1.4×

Profitability

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Gross margin55.8%+1.7pp

Operating margin-7.6%-2.0pp

Net margin-7.5%-1.4pp

FCF margin10%+4.6pp

Returns & leverage

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Return on equity-20.7%-2.7pp

Debt / equity2×+0.2×

Current ratio3.5×-0.8×

Where this comes from

Reported directly by Snap in its filing.

Tagged under the XBRL concept snap:ProceedsFromTerminationOfCappedCalls.

The official record: Snap’s 10-K, filed February 5, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Snap's proceeds from termination of capped calls?: Snap (SNAP) reported proceeds from termination of capped calls of $0 in Q4 2025.
What does proceeds from termination of capped calls mean?: Cash received from closing out derivative hedging positions.
How do you interpret proceeds from termination of capped calls?: Inflows often signal the unwinding of hedging positions or the successful management of convertible debt obligations.
How does proceeds from termination of capped calls compare across companies?: Occurs sporadically depending on the lifecycle of the company's convertible debt instruments.