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RDDT · Reddit

9 filings

10-Q

RDDT 10-Q Quarterly Reports

Reddit - 9 quarterly reports

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

2026-Q3
Reddit Quarterly Report for Q3 Ended Sep 30, 2026
Reddit, Inc. reported third-quarter 2026 revenue of $894.96 million, up 53% year-over-year from $584.91 million, and net income of $283.26 million versus $162.66 million a year earlier. For the nine months ended September 30, 2026, revenue was $2.36 billion (up 60%) and net income was $740.09 million. Advertising revenue was $846.996 million in the quarter, up from $549.342 million, driven mainly by a roughly 34% increase in ad prices and a roughly 15% increase in ad impressions delivered. Adjusted EBITDA was $402.3 million in the quarter, compared with $236.0 million a year earlier. Free Cash Flow was $362.6 million in the quarter and $934.5 million for the nine months. User metrics were mixed. Average DAUq was 130.3 million, up 12% year-over-year, but the filing states that U.S. DAUq declined 2% year-over-year and 5% quarter-over-quarter, while rest-of-world DAUq grew 24% year-over-year. Management attributes the referral-traffic softness to third-party search engine changes, including AI-generated summaries. ARPU rose 36% to $6.87, with U.S. ARPU at $13.82. The company also disclosed that it intends to begin experiments requiring logged-in access in one or more international markets in the quarter ending December 31, 2026, with possible global implementation afterward. The balance sheet held $3.0 billion in cash, cash equivalents, and marketable securities as of September 30, 2026. The company repurchased 2,193,461 Class A shares for $340.0 million during the nine months under a $1.0 billion program, with $660.0 million remaining. The filing notes a reasonable possibility of a significant release of the U.S. deferred tax valuation allowance within the next 12 months, which would produce a significant income tax benefit. Key legal exposures include a securities class action tied to Google Search and AI Overviews, derivative complaints, and a UK ICO fine of GBP 14.5 million that the company is appealing.
Oct 30, 2026
2026-Q2
Reddit Quarterly Report for Q2 Ended Jun 30, 2026
Reddit, Inc. reported second-quarter 2026 revenue of $804.9 million, up 61% year-over-year from $499.6 million, with advertising revenue of $761.6 million and other revenue of $43.3 million. Income from operations was $231.7 million versus $67.7 million a year earlier, and net income was $252.8 million compared with $89.3 million. Diluted net income per share was $1.25 versus $0.45. Adjusted EBITDA was $342.8 million compared with $166.7 million, and Free Cash Flow was $260.7 million compared with $110.8 million. Growth was driven primarily by higher pricing and increased ad impressions; the price of ads rose approximately 40% and ad impressions rose approximately 17% year-over-year. User metrics showed Daily Active Uniques (DAUq) of 130.3 million, up 18% year-over-year, with U.S. DAUq up 6% and rest-of-world DAUq up 28%. ARPU was $6.18, up 36%, with U.S. ARPU at $11.85 and rest-of-world ARPU at $2.26. Beginning with the quarter ending September 30, 2026, the company will stop reporting logged-in and logged-out DAUq, and management will primarily use total DAUq and DAUq by geography. Balance sheet and capital return activity strengthened during the period. Cash, cash equivalents, and marketable securities totaled $2.8 billion at June 30, 2026, and the company repurchased 1,523,502 Class A shares for $239.6 million in the six months ended June 30, 2026 under a $1.0 billion program authorized in February 2026, with $760.4 million remaining. The filing also discloses a securities class action and derivative complaints relating to Google Search and AI Overviews, and a £14.5 million fine from the UK Information Commissioner's Office that the company is appealing.
Jul 31, 2026
2026-Q1
Reddit Quarterly Report for Q1 Ended Mar 31, 2026
Reddit, Inc. reported first-quarter 2026 revenue of $663.4 million, up 69% year-over-year from $392.4 million, with advertising revenue of $624.7 million (up 74%) and other revenue of $38.7 million. Income from operations was $182.9 million versus $3.9 million a year earlier, and net income was $204.0 million, or $1.01 per diluted share, compared with $26.2 million ($0.13 per diluted share) in the prior-year quarter. Adjusted EBITDA was $266.0 million versus $115.3 million, and gross margin was 91.5% versus 90.5%. User metrics grew as well. Daily Active Uniques (DAUq) were 126.8 million, up 17% year-over-year, and ARPU was $5.23, up 44%. U.S. ARPU was $9.63 and rest-of-world ARPU was $2.02. Management attributed the DAUq growth to third-party search engine algorithm changes and growth initiatives such as machine translation, marketing, and product improvements. Ad impressions delivered rose approximately 32% and ad pricing rose approximately 32%. The company will stop reporting logged-in and logged-out DAUq beginning with the quarter ending September 30, 2026. Liquidity remained strong, with $2.8 billion in cash, cash equivalents, and marketable securities at March 31, 2026, and operating cash flow of $312.3 million, producing Free Cash Flow of $311.2 million. On February 4, 2026, the board authorized a $1.0 billion Class A share repurchase program, under which 34,690 shares were bought for $5.0 million in the quarter, leaving $995.0 million available. The filing also discloses a securities class action tied to Google Search and AI Overviews, and a UK ICO penalty of GBP £14.5 million that Reddit is appealing. The company states it has a full valuation allowance against U.S. deferred tax assets and that a release within 12 months could produce a significant income tax benefit.
May 1, 2026
2025-Q3
Reddit Quarterly Report for Q3 Ended Sep 30, 2025
Reddit, Inc. reported third-quarter 2025 revenue of $584.9 million, up 68% year over year from $348.4 million, with advertising revenue of $549.3 million and other revenue of $35.6 million. Income from operations was $138.5 million, compared with $6.9 million a year earlier, and net income was $162.7 million, compared with $29.9 million. Gross margin was 91.0%, and Adjusted EBITDA was $236.0 million, compared with $94.1 million. Net cash provided by operating activities was $185.2 million, and Free Cash Flow was $183.1 million. For the nine months ended September 30, 2025, revenue was $1.48 billion, up 69%, and net income was $278.1 million, compared with a net loss of $555.3 million in the prior-year period. User growth and monetization both increased. Daily Active Uniques (DAUq) were 116.0 million, up 19% year over year, with United States DAUq up 7% and rest-of-world DAUq up 31%. ARPU was $5.04, up 41%, with United States ARPU of $9.04 and rest-of-world ARPU of $1.84. The filing states that logged-out DAUq comprised 57% of global DAUq in the quarter and that growth was driven in part by third-party search engine and algorithm changes. Cash, cash equivalents, and marketable securities totaled $2.2 billion as of September 30, 2025. The company amended its revolving credit facility to $500.0 million, maturing in 2030, and was in compliance with its covenants. The filing also flags material risks. In June 2025, Reddit and certain officers and directors were named in a securities class action alleging misleading statements about the impact of Google Search and its AI Overviews feature on the business, and shareholder derivative complaints followed. The filing notes that substantially all contract value in content licensing relates to two partners, and that the company has filed litigation against companies that used Reddit content without a license. Advance Magazine Publishers Inc. held approximately 22% of outstanding Class A and Class B common stock, and Mr. Huffman was entitled to vote approximately 76% of the voting power of the Class A and Class B common stock under voting agreements.
Oct 31, 2025
2025-Q2
Reddit Quarterly Report for Q2 Ended Jun 30, 2025
Reddit, Inc. reported a strong second quarter of 2025, with revenue of $499.6 million for the three months ended June 30, 2025, up 78% year over year from $281.2 million, and net income of $89.3 million compared with a net loss of $10.1 million a year earlier. Advertising revenue was $464.8 million and other revenue was $34.8 million. Income from operations was $67.7 million versus a loss of $31.0 million in the prior-year quarter. Adjusted EBITDA was $166.7 million, and Free Cash Flow was $110.8 million for the quarter. For the six months ended June 30, 2025, revenue was $892.0 million, up 70%, and net income was $115.5 million. User metrics grew over the period: Daily Active Uniques (DAUq) were 110.4 million, up 21% year over year, and ARPU was $4.53, up 47%. The filing notes that logged-out users comprised 55% of global DAUq and that DAUq growth is expected to slow as the base grows. The company held $2.1 billion in cash, cash equivalents, and marketable securities at June 30, 2025, and it signed a renewal of its revolving credit facility on July 1, 2025 that provides a five-year, $500.0 million facility. The filing also discloses a securities class action filed in June 2025 alleging false or misleading statements about the impact of Google Search and its AI Overviews feature on the business, along with related shareholder derivative complaints. The company states that the outcome remains uncertain given the preliminary stage of the proceedings. Remaining performance obligations on long-term contracts were $194.9 million, primarily from long-term content licensing contracts, with $57.0 million expected to be recognized in the remainder of 2025.
Aug 1, 2025
2025-Q1
Reddit Quarterly Report for Q1 Ended Mar 31, 2025
Reddit, Inc. (RDDT) reported first-quarter 2025 revenue of $392.4 million, up 61% year over year from $243.0 million, with advertising revenue of $358.6 million and other revenue of $33.7 million. The company swung to net income of $26.2 million, compared with a net loss of $575.1 million in the prior-year quarter, which was heavily affected by stock-based compensation recognized upon the IPO. Income from operations was $3.9 million, and Adjusted EBITDA was $115.3 million versus $10.0 million a year earlier. Gross margin was 90.5%, compared with 88.6% in the prior-year period. User metrics grew strongly: average DAUq was 108.1 million, up 31% year over year, and ARPU was $3.63, up 23%. U.S. ARPU was $6.27 and rest-of-world ARPU was $1.34. The filing attributes growth to third-party search engine and algorithm changes, machine translation, and product enhancements, and notes that logged-out DAUq comprised 55% of global DAUq in the quarter. Logged-out users monetize at lower rates than logged-in users. Liquidity remained strong, with $2.0 billion in cash, cash equivalents and marketable securities and operating cash flow of $127.6 million, producing Free Cash Flow of $126.6 million. Remaining performance obligations on contracts longer than one year totaled $224.5 million, mostly long-term content licensing contracts, with $85.9 million expected to be recognized in the rest of 2025. The filing notes that substantially all content licensing contract value is derived from two partners.
May 2, 2025
2024-Q3
Reddit Quarterly Report for Q3 Ended Sep 30, 2024
Reddit, Inc. reported third-quarter 2024 revenue of $348.4 million, up 68% year over year from $207.5 million, with advertising revenue of $315.1 million and other revenue of $33.2 million. The company swung to net income of $29.9 million for the quarter, compared with a net loss of $7.4 million a year earlier. Results were helped by a sharp rise in revenue and a 90.1% gross margin, though nine-month results remained a net loss of $555.3 million, largely reflecting stock-based compensation of $716.5 million tied to the March 2024 IPO, including a cumulative catch-up for RSUs with liquidity-event vesting conditions. Adjusted EBITDA was $94.1 million for the quarter versus a $6.9 million loss a year earlier. User growth and monetization both moved higher. Global DAUq was 97.2 million, up 47% year over year, and ARPU was $3.58, up 14%. Management attributed the revenue increase mainly to higher impressions delivered, with pricing flat versus the prior-year period, and noted that data licensing agreements executed in 2024 contributed to other revenue. The filing also notes that DAUq growth quarter over quarter was 7%, and that logged-out users made up 75% of incremental users added since July 2023 as of December 2023. Liquidity is strong: cash, cash equivalents, and marketable securities totaled $1.7 billion at September 30, 2024, and free cash flow was $70.3 million for the quarter ($126.7 million for nine months). The company received $600.0 million in net IPO proceeds in March 2024 and has a $750.0 million revolving credit facility with $745.0 million available. Risk disclosures highlight dependence on a small number of data licensing partners, a concentrated voting structure controlled largely by Steven Huffman and Advance Magazine Publishers, an FTC inquiry into AI training data licensing, and reliance on search engine traffic.
Oct 30, 2024
2024-Q2
Reddit Quarterly Report for Q2 Ended Jun 30, 2024
Reddit, Inc. reported second-quarter 2024 revenue of $281.2 million, up 54% year over year from $183.0 million, with advertising revenue of $253.1 million and other revenue of $28.1 million. Net loss narrowed to $10.1 million from $41.1 million a year earlier. Adjusted EBITDA was $39.5 million, compared with $(35.4) million in the prior-year quarter, and Free Cash Flow was $27.2 million versus $(54.9) million. For the six months, net loss was $585.2 million, driven largely by stock-based compensation expense of $641.8 million, including a cumulative catch-up recognized upon the IPO for RSUs with a liquidity event vesting condition. User engagement grew strongly: global DAUq was 91.2 million, up 51% year over year, with United States DAUq up 59% and rest-of-world DAUq up 44%. ARPU was $3.08, up 2% year over year, although United States ARPU declined to $4.94 from $5.21. The filing attributes the global ARPU increase mainly to higher impressions, partially offset by lower pricing, and notes that data licensing agreements executed in 2024 contributed to revenue and ARPU. The balance sheet strengthened following the March 2024 IPO, which provided net proceeds of $600.0 million. Cash, cash equivalents, and marketable securities totaled $1.7 billion as of June 30, 2024, and the company stated these resources, together with its $745.1 million of available revolving credit capacity, are sufficient for at least the next 12 months. The filing also highlights risks including user-growth concentration in logged-out traffic, reliance on third-party search engines, dual-class control held by Advance Magazine Publishers Inc. and CEO Steve Huffman, and an FTC inquiry related to AI training data licensing.
Aug 7, 2024
2024-Q1
Reddit Quarterly Report for Q1 Ended Mar 31, 2024
Reddit, Inc. (RDDT) reported its first quarter 2024 results in this Form 10-Q, covering the three months ended March 31, 2024, shortly after its March 2024 initial public offering. Revenue was $242.96 million, up 48% from $163.74 million a year earlier, driven primarily by higher advertising revenue from more impressions delivered, partially offset by lower pricing, and by data licensing agreements executed in 2024. Advertising revenue was $222.68 million and other revenue was $20.28 million. Daily Active Uniques (DAUq) reached 82.7 million, up 37% year over year, and ARPU was $2.94, up 8%. The company posted a net loss of $575.07 million, compared with a net loss of $60.87 million in the prior-year quarter. The loss was driven primarily by stock-based compensation of $577.5 million, largely tied to RSUs with a liquidity event vesting condition that was satisfied upon the IPO's effectiveness. Research and development, sales and marketing, and general and administrative expenses rose sharply as a result. Adjusted EBITDA, a non-GAAP measure, was $10.03 million, compared with a negative $50.18 million a year earlier. Net cash provided by operating activities was $32.06 million, and Free Cash Flow was $29.21 million. The IPO closed on March 25, 2024, at $34.00 per share, with 18,576,527 Class A shares sold by the company and net proceeds of $600.0 million after $31.6 million of underwriting discounts and commissions. As of March 31, 2024, cash, cash equivalents, and marketable securities totaled $1.7 billion, and the company had $745.1 million available under its $750.0 million revolving credit facility. Management stated that existing cash and credit facility availability are sufficient for working capital and capital expenditure needs for at least the next 12 months. The filing also discloses a multi-class share structure in which Advance Magazine Publishers Inc. held approximately 25% of Class A and Class B shares and approximately 34% of voting power, and a Governance Agreement granting Advance significant approval rights.
May 8, 2024