| Quarter | Call date | Disclosure | Financial quality | Kept | Missed | |
|---|---|---|---|---|---|---|
| Q2'26 | July 30, 2026 | 4/12 | 4 high, 4 medium flags | 3 | 2 | Call sheet → |
| Q1'26 | April 30, 2026 | 8/12 | 2 medium, 4 low flags | 3 | 2 | Call sheet → |
| Q4'25 | February 5, 2026 | 8/12 | 3 medium, 5 low flags | 3 | 2 | Call sheet → |
| Marked | Status | Promise |
|---|---|---|
| Q2'26 | Delivered | DevEx increase for 18+ content Implemented but no evidence of content response yet |
| Q2'26 | Delivered | Kids accounts global rollout in June On track but contributing to continued friction |
| Q2'26 | Delivered | Enhanced discovery algorithms by year end Delivered but backfired spectacularly on monetization |
| Q2'26 | Missed | Age check penetration target above 90% At 57% with no timeline to reach 90%, original urgency gone |
| Q2'26 | Missed | Full year bookings growth of 8-12% Abandoned entirely, won't even provide Q4 guidance anymore |
| Q2'26 | Pending | Return to sequential DAU growth in Q3 Explicitly reaffirmed but with massive bookings decline, suggesting quality issues |
| Q1'26 | Missed | Return to sequential DAU growth would happen DAUs still contracting, now pushed to Q3 for recovery |
| Q1'26 | Exceeded | Strong free cash flow growth expectations FCF up 4240% YoY, massive improvement |
| Q1'26 | Exceeded | Continued investment in creator economy and DevEx improvements Delivered major DevEx rate increase to 37.8% for 18+ segment |
| Q1'26 | Pending | AI driving double-digit increase in unique experiences surfaced No update provided, may have been deprioritized for retention-focused discovery |
| Q1'26 | Delivered | Age check penetration would continue growing with benefits US at 65% vs 60% in Q4, but negative impacts were underestimated |
| Q1'26 | Missed | Bookings growth of 22% to 26% for 2026 Cut to 8-12%, massive miss on guidance provided just 3 months ago |
| Q4'25 | Pending | Cube 3D model going live in multiplayer in 1-2 quarters Reaffirmed but no updated timeline provided |
| Q4'25 | Missed | Long-term margin expansion trajectory Now guiding flat to down margins in 2026 |
| Q4'25 | Missed | Advertising business to show 'pretty healthy growth' in 2026 Advertising completely absent from 2026 guidance discussion |
| Q4'25 | Delivered | Continued double-digit bookings growth momentum 2026 guidance 22-26% meets commitment but wide range shows uncertainty |
| Q4'25 | Delivered | DevEx rate increase to 8.5% impacting 2026 Confirmed full-year impact built into 2026 guidance |
| Q4'25 | Exceeded | Facial age estimation rollout by end of 2025 Completed global rollout in January 2026, ahead of promise |
| Q4'25 | Pending | Rolling out server authority and custom matchmaking in late Q1/early Q2 2026 Timeline softened to 'first half of 2026' - less specific |
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