During Monday’s earnings call, Snap CEO Evan Spiegel avoided addressing investors’ inquiries regarding preorder interest for the highly anticipated Specs smart glasses, just weeks ahead of the device’s launch event in September.

“Feedback from people indicates they are eager to experience Specs,” Spiegel shared with investors. “At $2,195, it’s undoubtedly a significant investment. Clearly, developers and people who are knowledgeable about the platform recognize the advancements we’ve achieved with this generation. For the general public and consumers, it will be crucial for them to have hands-on experience. Our forthcoming launch event will mark a key starting point for that consumer-focused journey.”

The company presented Specs in June after over a decade of development. The wearable’s price of $2,195 is considerably higher than the majority of Meta Ray-Ban smart glasses, starting at approximately $350, yet lower than Apple’s Vision Pro, which begins at $3,500.

Investors further questioned Spiegel on his rationale for deeming Snap’s strategy financially viable given its size, the decision to pursue independence rather than forming partnerships, and his confidence in the company’s ability to compete against Apple, Meta, and Alphabet.

Spiegel indicated that Snap perceives the long-term potential for creating the next computing platform as “immense.”

“What some may not yet grasp, particularly since Specs are quite new and we’re really the pioneers in this category, is the complexity of executing the product from a technical standpoint,” Spiegel explained. “When we started innovating in the social arena, we entered late. Most of the applications such as Facebook, Instagram, or Twitter were already available, and we had to innovate significantly to maintain growth. What’s particularly distinct about this opportunity for us is that we are first movers, which truly leverages our strengths as innovators.”

In response to a question about product-market fit, Spiegel mentioned that mass-market consumer acceptance may not occur until closer to the end of the decade.

“Factors such as weight and price will likely need to decrease for unit sales to truly gain traction.” However, we do possess a tangible advantage in that developers have been building on the Specs platform for several years now.”