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Daily Active Users
58.7M
+3.9% QoQ
Monthly Active Users
140.6M
+2.0% QoQ
Paid Subscribers
12.7M
+1.6% QoQ
Total Bookings
$289.1M
-6.3% QoQ
Revenue
$298.5M
+2.2% QoQ
Adjusted EBITDA Margin
25.9%
-9.4% QoQ
Adjusted EBITDA Margin (%)
Why these KPIs
Locked from Q2 2026 shareholder letter's own 'Summary of Financial and Key Operating Metrics' table plus the DAU emphasis in mgmt commentary ('single most important KPI' per Apr-2026 preview). DAU/MAU = user growth engine management is explicitly prioritizing over near-term monetization. Paid Subscribers = conversion of that growth into payers. Total Bookings = forward-looking cash economics (leads revenue due to ratable recognition). Revenue = GAAP top line. Adj. EBITDA Margin = whether user-growth investment is compressing profitability as guided.
| Period | Daily Active Users | Monthly Active Users | Paid Subscribers | Total Bookings | Revenue | Adjusted EBITDA Margin |
|---|
| Q3 2025 | 50.5M | — | 11.5M | $282.0M | $271.7M | 29.5% |
| Q4 2025 | 52.7M | 133.1M | 12.2M | $336.8M | $282.9M | 29.8% |
| Q1 2026 | 56.5M | 137.8M | 12.5M | $308.5M | $292.0M | 28.6% |
| Q2 2026 | 58.7M | 140.6M | 12.7M | $289.1M | $298.5M | 25.9% |