The company said that the new Spectacles have a smaller profile than the originals and are now water-resistant, have improved audio and can transfer HD videos to Snapchat up to four times faster.
The glasses cost $149.99, more than the previous version at $130, and can be ordered on the Spectacles website (the previous version was famously sold via pop-up vending machines). The cameras in the corner of each lens no longer have a yellow circle surrounding them, and Spectacles can be ordered with prescription lenses as well.
For the original Spectacles, Snap said that the "strong early demand for the glasses" led it to buy more of them than it could sell. Last November the company took an almost $40 million write-down on the glasses.
One analyst said he doesn't see the new version faring much better.
"You only have one chance to make a first impression," said GBH Insights analyst Daniel Ives. "There is a potential window of opportunity for some success, but patience has worn thin (for investors)."
The company will likely address the new product's launch when it reports its first-quarter earnings next Tuesday. Snap shares were up 0.4% to $14.60 during afternoon trading Thursday. Since the beginning of the year, the stock has declined about 0.1%.