They "warned" in an SEC filing that is supposed to state possible investor risks. The way this was reported is the problem and not Snap's statement, which any investor should understand is factually correct.

Snap is a volatile play: there's a high chance, maybe bigger than 50%, that it never becomes profitable, as they warn, and there's some small chance it becomes extremely profitable. The real question is, what's the net present expected value?

Companies do this so that they don't get sued for lying in the event that things don't always go well.