Snap Inc. is pushing past the U.S. and into Europe with its Spectacles for the first time.
The company’s Snapbots — vending machines dispensing its $129.99 Spectacles — debuted at the London Eye and Rambla del Mar in Spain, with additional bots set for Campo San Barnaba in Italy and MountMitte in Berlin. It’s unclear when the latter two bots will bow.
Those bots join existing vending machines set up at Caruso’s The Grove and Americana at Brand shopping centers in Los Angeles and Glendale, respectively. There is also one on the East Coast operating through Saturday for the Governors Ball in New York.
The item is also sold in online Spectacles stores for the U.S., Sweden, Italy, U.K., Spain, Germany, France and other countries.
The Spectacles — camera-enabled sunglasses that allow the wearer to produce snaps for Snapchat with the press of a button on the frames — are parent Snap’s first and only physical product. The frames are not currently a key revenue driver for the business in comparison to advertising.
Snap chief financial officer Drew Vollero said in March during the company’s call with analysts that Spectacles brought in a little more than $8 million in the quarter and called it a “modest” business. It’s not clear what the bigger picture plans are for the glasses. The company declined to provide financial guidance for the current quarter and discussed little in the way of its overall development pipeline on its analyst call.
Snap, which made its debut on the New York Stock Exchange in March, said it notched a 286 percent gain in the March quarter from the year-ago period to $149.65 million, missing analyst expectations of $157.98 million. Net losses widened to $2.21 billion or $2.31 a share, also missing the Street’s forecast of a 19 cents a share loss. The loss was largely attributed to stock-based compensation plans, the company said.
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