CEO Evan Spiegel and CFO Derek Horte provided analysts and investors with an overview of the company's financial performance, AI-driven operational model, progress in diversified monetization, and long-term plans for the next-generation AR glasses, Specs. Q2 revenue increased by 19% year-over-year to $1.6 billion, with gross margin improving to 58% and adjusted EBITDA reaching $250 million. Monthly active users reached 971 million, with daily active users at 493 million. Daily active users in North America remained stable, while significant growth was observed among users aged 35 and above. The company has adopted free cash flow per share as a core financial metric, achieving positive free cash flow for eight consecutive quarters, and plans to leverage this strength to repurchase shares to stabilize equity. AI technology has significantly enhanced internal operational efficiency, with a 75% year-over-year increase in code submissions by engineers and AI code reviews covering 90% of Pull Requests. AI-powered customer service handles approximately 3.9 million inquiries per month, with ticket volume decreasing by 62% since the beginning of the year. AI-driven Smart Ad Campaigns have reduced costs for advertisers, with a 56% year-over-year increase in ad conversions on the platform, and the automation rate for AI's initial review of ad images has risen to nearly 90%.