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RedditRDDT

Legal name
Reddit, Inc.
Sector
Technology
Industry
Services-Computer Processing & Data Preparation
Exchange
NYSE

Stock Price $RDDT

Latest filings

You are here#87 of 88 in Technology by market cap

Filing record · 2024–202610-K210-Q98-K17

RDDT filed 2 annual reports (10-K), 9 quarterly reports (10-Q) and 17 current reports (8-K) between 2024 and 2026.

  1. Leadership change8-K · May ’24May ’24
  2. Material agreement8-K · Jul ’25Jul ’25
  3. Leadership change8-K · Aug ’26Aug ’26

01—Key figures

Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025

Revenue Trend

Year-over-year comparison from 10-K annual reports

  4. $2.20B
YoY changeLargest recent move+61.7%in FY24Latest +69.4%

Latest bar from 10-KFY2025Click a bar to open its SEC filing

View full history →
All RDDT Financial Metrics53 metrics

Income Statement15

Balance Sheet22

Cash Flow12

Per Share4

02—Overview

Reddit Financial Overview 2024–2025

Updated Nov 4, 2026

Reddit's net income swung from a $484.3 million loss in FY2024 to $529.7 milliona of profit in FY2025, a turn of over $1.0 billion. Part of that is accounting: stock-based compensation fell from $801.6 million to $343.2 million as the IPO catch-up charge rolled off. But the operating gains are real. The thesis is that Reddit has become a pricing and monetization story, and search-driven traffic is the variable that decides how long it lasts.

Revenue grew from $1.30 billion in FY2024 to $2.2 billionb in FY2025, up 69%. Adjusted EBITDA rose from $298.0 million to $845.1 million, and free cash flow climbed from $215.8 million to $684.2 million. The pace held into Q3 2026, when revenue hit $894.96 million, up 53%, on ad prices up about 34% and impressions up about 15%. Reddit ended Q3 2026 with $3.0 billion in cash and marketable securities, and it repurchased $340.0 million of stock over the first nine months of 2026.

The market priced this growth richly. At the close of FY2025, shares were $229.87c, or 87.7x earnings on EPS of $2.62. At the end of FY2024, EPS was -$3.33, so no meaningful multiple existed. The risk is traffic. In Q3 2026, U.S. DAUq fell 2% year over year, and management said total DAUq could drop by a low-double-digit percentage in Q4 2026 if search referral declines continue.

Recent Developments (Q2 and Q3 2026)

Reddit's biggest shift came in the guidance and the traffic warning. Q2 revenue grew 61% to $804.9 milliond, with ad prices up about 40%. Q3 growth slowed to 53%, and Q4 2026 guidance of $1,000 million to $1,030 million implies a further step up in dollars. Adjusted EBITDA margin reached 44.9% in Q3, up from 43% in Q2. Chief Legal Officer Benjamin Lee also resigned, effective September 14, 2026, with Paul Cappuccio expected to replace him. A securities class action over Google Search and AI Overviews remains open.

The bull case is pricing power and margins: earnings per share rose to $1.40e in Q3 from $0.80, and the shares trade at 35.0x earnings as of the October 29, 2026 filing date, not today. The bear case is traffic: October search referrals fell by more than 1 million per week, and a drop in total DAUq would test whether ad prices can keep rising.

What to watch: Q4 DAUq against the low-double-digit decline warning; results of the logged-in access experiments in international markets

03—Filings

Recent SEC Filings

  1. 8-KReddit 8-K Report, Financial Results (Oct 29, 2026)Reddit, Inc. reported third-quarter 2026 results for the quarter ended September 30, 2026. Revenue was $895 million, up 53% year-over-year, with advertising revenue of $847 million (up 54%) and other revenue of $48 million (up 35%). U.S. revenue was $719 million (up 50%) and international revenue was $176 million (up 67%). Net income was $283 million, up 74%, with a 31.7% net margin. Diluted EPS was $1.40, up 75%. Adjusted EBITDA was $402 million, up 70%, at a 44.9% margin. Operating cash flow was $364 million, up 96%, and free cash flow was $363 million. The company repurchased about 670 thousand Class A shares for $100 million at an average price of $149.81. Reddit was also added to the S&P 500 index during the quarter. User metrics were mixed. Global daily active uniques (DAUq) rose 12% to 130.3 million and weekly active uniques (WAUq) rose 16% to 515.2 million, but U.S. DAUq fell 2% to 50.7 million while international DAUq grew 24%. The letter to shareholders says search referral traffic declined meaningfully in Q3, with the decline accelerating late in the quarter. In October, search traffic fell by more than 1 million referrals per week on average. If that rate of decline continues, the letter says total DAUq could fall by a low-double-digit percentage in Q4 from the current base of 130 million. Management is shifting Reddit toward a primarily logged-in experience and plans to begin testing it in select markets outside the U.S. in Q4. For Q4 2026, Reddit estimates revenue of $1,000 million to $1,030 million and Adjusted EBITDA of $480 million to $510 million. Management also said logged-in and app DAUq make up the vast majority of engagement and over 80% of monetization. Investors will likely focus on whether the search-referral decline affects user growth and on the durability of the margin expansion.
  2. 8-KReddit 8-K Report, Executive Changes (Aug 12, 2026)Reddit, Inc. (RDDT) filed this Form 8-K under Item 5.02 to disclose a leadership transition in its legal function. On August 12, 2026, Benjamin Lee notified Reddit of his intention to step down as Chief Legal Officer and Corporate Secretary, effective September 14, 2026. Mr. Lee will remain an employee through September 25, 2026 to assist in transitioning his responsibilities. Reddit expects to appoint Paul Cappuccio as its Chief Legal Officer and Corporate Secretary in connection with Mr. Lee's resignation. The filing describes Mr. Cappuccio as bringing deep leadership experience as a public company general counsel, executive, and board director. The filing contains no financial results or other financial figures. Its only exhibit is the cover page Interactive Data File embedded within the inline XBRL document. For investors, the main takeaway is a planned senior legal leadership change with a defined transition period.
  3. 8-KReddit 8-K Report, Financial Results (Jul 30, 2026)Reddit, Inc. reported second-quarter 2026 results for the quarter ended June 30, 2026, with revenue of $805 million, up 61% year-over-year, marking its eighth consecutive quarter of over 60% revenue growth. Advertising revenue was $762 million, up 64%, and Other revenue was $43 million, up 24%. Net income was $253 million, or 31% of revenue, and diluted EPS was $1.25, both more than doubling year-over-year. Adjusted EBITDA was $343 million with a 43% margin, and operating cash flow was $262 million, up 135%. Gross margin was 91.3%, up 50 bps. User metrics showed mixed trends. Global daily active uniques (DAUq) averaged 130.3 million, up 18%, while weekly active uniques (WAUq) averaged 514.6 million, up 24%. U.S. DAUq grew 6% and international DAUq grew 28%. Logged-in DAUq grew 7% and logged-out DAUq grew 27%. Management said search referrals were choppy during the quarter and that referral visibility remains low, and it emphasized converting weekly users into daily users as its top priority. For the third quarter of 2026, Reddit estimates revenue of $860 million to $870 million and Adjusted EBITDA of $385 million to $395 million. During the quarter, the company repurchased 1.5 million Class A shares for $235 million at an average price of $157.57. Cash, cash equivalents, and marketable securities totaled $2.8 billion as of June 30, 2026, and fully diluted shares outstanding were 207.0 million.
  4. 8-KReddit 8-K Report, Shareholder Vote Results (Jun 10, 2026)On June 8, 2026, Reddit, Inc. held its 2026 annual meeting of stockholders, where holders of Class A common stock (one vote per share) and Class B common stock (ten votes per share) voted as a single class on three proposals. Stockholders elected all eight director nominees (Steven Huffman, Sarah Farrell, Patricia Fili-Krushel, Porter Gale, David Habiger, Steven O. Newhouse, Robert A. Sauerberg Jr., and Michael Seibel) to serve until the 2027 annual meeting. Each nominee received more votes for than withheld, with Steven O. Newhouse receiving the most withheld votes at 55,261,715 and Sarah Farrell the fewest at 811,747. Stockholders also ratified the appointment of KPMG LLP as the independent registered public accounting firm for the year ending December 31, 2026, with 586,179,407 votes for, 367,200 against, and 201,974 abstentions. In addition, stockholders approved, on a non-binding advisory basis, the compensation of the company's named executive officers, with 548,116,258 votes for, 10,731,180 against, and 87,007 abstentions. The filing references the company's definitive proxy statement filed April 23, 2026, which describes these proposals in full. The filing is a routine Item 5.07 disclosure of meeting results, with no new financial results or corporate actions reported. The only exhibit listed is the Cover Page Interactive Data File embedded in the inline XBRL document.
  5. 8-KReddit 8-K Report, Financial Results (Apr 30, 2026)Reddit, Inc. (NYSE: RDDT) reported first quarter 2026 results for the quarter ended March 31, 2026, in a press release (Exhibit 99.1) and shareholder letter (Exhibit 99.2) furnished with this Form 8-K. Total revenue rose 69% year-over-year to $663 million, with advertising revenue up 74% to $625 million and Other revenue up 15% to $39 million. U.S. revenue grew 67% and International revenue grew 76%. Gross margin was 91.5%, compared with 90.5% a year earlier. Profitability and cash generation improved sharply. Net income was $204 million, up $178 million from the prior year, and diluted EPS was $1.01 versus $0.13. Adjusted EBITDA was $266 million, a 40.1% margin, and operating cash flow was $312 million. Free cash flow was $311 million, and capital expenditures were only $1 million. Cash, cash equivalents, and marketable securities totaled $2.77 billion at March 31, 2026. Daily active uniques (DAUq) rose 17% to 126.8 million, with logged-out users growing 26% and logged-in users 7%. For the second quarter of 2026, Reddit estimates revenue of $715 million to $725 million and Adjusted EBITDA of $285 million to $295 million. The company also noted that it will host an earnings call on April 30, 2026, at 1:30 p.m. PT, and will use its investor relations subreddit and related channels for Regulation FD disclosure.
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04—See also

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