RDDT

MKT CAP:$30B

Reddit, Inc.

Market Cap

$30B

Communication Services·Internet Content & Information·🇺🇸 United States·NYSE

Communication·Internet·🇺🇸·NYSE

Stock Price

$154.52-$87.37 (-36.12%)

Apr 24, 2026

Company Details

Reddit, Inc. operates a website that organizes digital communities. It organizes communities based on specific interests that enable users to engage in conversations by sharing experiences, submitting links, uploading images and videos, and...

CEO

Steven Ladd Huffman

IPO Date

Mar 21, 2024

Website

www.redditinc.com

Key Metrics TTM

Revenue

$2.2B

+69.4% YoY

Net Income

$530M

EPS (Diluted)

$2.66

Free Cash Flow

$684M

Revenue / Share

$10.85

Gross Margin

91.2%

Operating Margin

20.1%

Net Margin

24.1%

FCF Margin

31.1%

P/S

13.4x

P/E

55.7x

Earnings Reports

Q1 2026

May 7, 2026

PENDING

FY 2025

Feb 5, 2026

$2.2B+69.4%EPS $2.62

Q4 2025

Feb 5, 2026

$726M+69.7%EPS $1.24

Q3 2025

Oct 30, 2025

$585M+67.9%EPS $0.80

Q2 2025

Jul 31, 2025

$500M+77.7%EPS $0.48

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$146M	$124M	-$35M
Q2 22	$149M	$123M	-$56M
Q3 22	$172M	$143M	-$51M
Q4 22	$200M	$172M	-$30M
Q1 23	$164M	$137M	-$71M
Q2 23	$183M	$154M	-$53M
Q3 23	$208M	$181M	-$20M
Q4 23	$250M	$221M	$3M
Q1 24	$243M	$215M	-$589M
Q2 24	$281M	$252M	-$31M
Q3 24	$348M	$314M	$7M
Q4 24	$428M	$396M	$53M
Q1 25	$392M	$355M	$4M
Q2 25	$500M	$454M	$68M
Q3 25	$585M	$532M	$139M
Q4 25	$726M	$667M	$232M

Valuation

Quarter	P/S	P/E
Q1 22	17.7x	—
Q2 22	16.5x	—
Q3 22	15.2x	—
Q4 22	14.7x	—
Q1 23	14.3x	—
Q2 23	13.6x	—
Q3 23	12.9x	—
Q4 23	12.1x	—
Q1 24	8.6x	—
Q2 24	11.8x	—
Q3 24	10.6x	—
Q4 24	23.0x	—
Q1 25	13.5x	167.8x
Q2 25	16.9x	130.2x
Q3 25	23.8x	129.7x
Q4 25	20.0x	83.3x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$5M	$4M
Q2 22	-$30M	-$31M
Q3 22	-$33M	-$36M
Q4 22	-$36M	-$37M
Q1 23	$4M	$4M
Q2 23	-$54M	-$55M
Q3 23	-$8M	-$12M
Q4 23	-$17M	-$22M
Q1 24	$32M	$29M
Q2 24	$28M	$27M
Q3 24	$72M	$70M
Q4 24	$90M	$89M
Q1 25	$128M	$127M
Q2 25	$111M	$111M
Q3 25	$185M	$183M
Q4 25	$267M	$264M

Capital Expenditures

Quarter	CapEx
Q1 22	$1M
Q2 22	$1M
Q3 22	$2M
Q4 22	$1M
Q1 23	$356.0K
Q2 23	$830.0K
Q3 23	$4M
Q4 23	$5M
Q1 24	$3M
Q2 24	$1M
Q3 24	$1M
Q4 24	$842.0K
Q1 25	$979.0K
Q2 25	$505.0K
Q3 25	$2M
Q4 25	$3M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+85.0%	+33.6%
Q2 22	+37.5%	+14.8%
Q3 22	+41.5%	+73.3%
Q4 22	+13.4%	+35.8%
Q1 23	+12.0%	+29.2%
Q2 23	+23.2%	+15.2%
Q3 23	+21.0%	+2.1%
Q4 23	+24.6%	+7.2%
Q1 24	+48.4%	+255.1%
Q2 24	+53.6%	+32.3%
Q3 24	+67.9%	+50.4%
Q4 24	+71.3%	+51.9%
Q1 25	+61.5%	-53.3%
Q2 25	+77.7%	+38.3%
Q3 25	+67.9%	+30.7%
Q4 25	+69.7%	+31.7%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$10M	6.8%
Q2 22	$15M	10.0%
Q3 22	$16M	9.2%
Q4 22	$15M	7.6%
Q1 23	$12M	7.6%
Q2 23	$10M	5.5%
Q3 23	$9M	4.5%
Q4 23	$16M	6.3%
Q1 24	$578M	237.7%
Q2 24	$64M	22.9%
Q3 24	$75M	21.5%
Q4 24	$85M	19.9%
Q1 25	$85M	21.8%
Q2 25	$89M	17.8%
Q3 25	$84M	14.3%
Q4 25	$85M	11.7%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q1 22	$77M	$31M	$51M
Q2 22	$87M	$36M	$57M
Q3 22	$95M	$39M	$60M
Q4 22	$106M	$38M	$58M
Q1 23	$109M	$41M	$58M
Q2 23	$110M	$38M	$59M
Q3 23	$108M	$37M	$55M
Q4 23	$112M	$48M	$58M
Q1 24	$437M	$243M	$124M
Q2 24	$143M	$68M	$71M
Q3 24	$167M	$66M	$75M
Q4 24	$189M	$74M	$81M
Q1 25	$191M	$69M	$91M
Q2 25	$197M	$69M	$121M
Q3 25	$196M	$69M	$129M
Q4 25	$199M	$72M	$164M

Revenue Segments

Quarter	Advertising	Other Revenue
Q1 24	$223M	$20M
Q2 24	$253M	$28M
Q3 24	$315M	$33M
Q1 25	$359M	$34M
Q2 25	$465M	$35M
Q3 25	$549M	$36M
Q4 25	$690M	$36M

Revenue by Geography

Quarter	Non-US	United States
Q1 24	$43M	$200M
Q2 24	$53M	$228M
Q3 24	$60M	$288M
Q4 24	$80M	$348M
Q1 25	$79M	$314M
Q2 25	$91M	$409M
Q3 25	$105M	$480M
Q4 25	$142M	$583M

War Chest

Quarter	Cash	Short-term Investments	Total
Q4 21	$1.3B	$75M	$1.4B
Q1 22	$689M	$726M	$1.4B
Q2 22	$588M	$765M	$1.4B
Q3 22	$484M	$815M	$1.3B
Q4 22	$436M	$831M	$1.3B
Q1 23	$0	$2.5B	$2.5B
Q3 23	$434M	$787M	$1.2B
Q4 23	$401M	$812M	$1.2B
Q1 24	$969M	$702M	$1.7B
Q2 24	$468M	$1.2B	$1.7B
Q3 24	$516M	$1.2B	$1.7B
Q4 24	$562M	$1.3B	$1.8B
Q1 25	$636M	$1.3B	$2.0B
Q2 25	$734M	$1.3B	$2.1B
Q3 25	$912M	$1.3B	$2.2B
Q4 25	$954M	$1.5B	$2.5B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	163M	0.0%	0.0%
Q2 22	163M	0.0%	0.0%
Q3 22	163M	0.0%	0.0%
Q4 22	163M	0.0%	0.0%
Q1 23	163M	0.0%	0.0%
Q2 23	163M	0.0%	0.0%
Q3 23	163M	0.0%	0.0%
Q4 23	163M	0.0%	0.0%
Q1 24	163M	0.0%	0.0%
Q2 24	166M	+1.4%	+1.4%
Q3 24	174M	+5.1%	+6.6%
Q4 24	180M	+3.5%	+10.4%
Q1 25	184M	+2.2%	+12.8%
Q2 25	187M	+1.5%	+12.9%
Q3 25	203M	+8.4%	+16.4%
Q4 25	203M	+0.1%	+12.5%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	—	—
Q2 22	—	—
Q3 22	—	—
Q4 22	—	—
Q1 23	—	—
Q2 23	—	—
Q3 23	—	—
Q4 23	—	—
Q1 24	—	—
Q2 24	—	—
Q3 24	—	—
Q4 24	$191.5K	2K
Q1 25	$175.7K	2K
Q2 25	$223.7K	2K
Q3 25	$261.9K	2K
Q4 25	$284.0K	3K

Revenue / Employee