Operator

Good everyone, and welcome to Snap Inc.'s First Quarter 2026 Earnings Conference Call. [Operator Instructions]

I would now like to turn the call over to David Ometer Head of Investor Relations.

David Ometer
Head of Investor Relations

Thank you, and good afternoon, everyone. Welcome to Snap's First Quarter 2026 Earnings Conference Call. With us today are Evan Spiegel, Chief Executive Officer and Co-Founder; and Derek Andersen, Chief Financial Officer. Please refer to our Investor Relations website at investor.snap.com to find today's press release, earnings slides and investor letter.

This conference call includes forward-looking statements, which are based on our assumptions as of today. Actual results may differ materially from those expressed in these forward-looking statements, and we make no obligation to update our disclosures. For more information about factors that may cause actual results to differ materially from these forward-looking statements. Please refer to the press release we issued today as well as risks described in our most recent Form 10-K or Form 10-Q, particularly in the section titled Risk Factors.

Today's call will include both GAAP and no-GAAP measures. Reconciliations between the 2 can be found in today's press release. Please note that when we discuss all of our expense figures, they will exclude stock-based compensation and related payroll taxes as well as depreciation and amortization and