Reddit Earnings Call Transcripts
Fiscal Year 2026
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GAAP profitability, strong revenue growth, and S&P 500 inclusion highlight recent momentum. Feed improvements, AI-driven personalization, and enhanced onboarding are driving higher user retention and engagement. Strategic capital allocation focuses on product, M&A for technology and talent, and share repurchases, with a broad market opportunity and a premium on authentic human content.
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Q2 saw 61% revenue growth to $805M, with adjusted EBITDA margin at 43% and net income more than doubling year-over-year. User retention and direct engagement improved, while ad business and international growth remained strong. Guidance for Q3 projects continued high growth.
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The meeting, held virtually, focused on electing directors, ratifying the auditor, and approving executive compensation. All proposals passed, with no additional shareholder items or questions raised. Final results will be reported within four business days.
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Reddit targets significant user and revenue growth by enhancing onboarding, personalizing feeds with machine learning, and maintaining high operational efficiency. Strong financials, resilient ad spend, and unique positioning as a foundational AI data source support continued expansion.
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Q1 2026 saw 69% revenue growth to $663M, 40% adjusted EBITDA margin, and record cash flow, with strong ad performance and user growth initiatives underway. Q2 guidance projects continued robust growth and profitability, supported by product innovation and expanding advertiser adoption.
Fiscal Year 2025
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Revenue grew 69% to $2.2B in 2025, with Q4 net income of $252M and strong ad growth across all segments. Announced a $1B share repurchase, maintained high margins, and guided for 52%-54% revenue growth in Q1 2026.
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Q3 saw 68% revenue growth and 40% adjusted EBITDA margin, with strong gains in user engagement, ad revenue, and international expansion. Guidance for Q4 projects continued robust growth and margin improvement, while product innovation and new ad formats drive future opportunity.
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Q2 2025 saw 78% revenue growth to $500M, record profitability, and 21% DAU growth. Advertising revenue rose 84% and ARPU increased 47%. Outlook for Q3 is strong, with continued investment in product, search, and international expansion.
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Revenue grew 61% year over year to $392M, with strong ad and user growth, and profitability achieved. International and SMB segments led expansion, while new ad formats and AI-powered features drove engagement. Q2 guidance projects continued robust growth.
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Reddit achieved record user and revenue growth, reaching 100 million DAU and $1 billion in revenue, while launching innovative products like Reddit Answers and expanding internationally through machine translation. Strategic priorities include product quality, search, and global growth.
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Strong logged-in user growth, rapid ad innovation, and international expansion have driven accelerated revenue and engagement. Key priorities include improving the developer platform, advancing search, and scaling automation and personalized ads, with a focus on long-term retention and global reach.
Fiscal Year 2024
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Q4 revenue surged 71% year-over-year to $428 million, with net income of $71 million and strong international growth. User base expanded 39% to 101.7 million DAUq, and new AI-driven products and ad innovations fueled performance. Q1 2025 guidance projects 48%-52% revenue growth.
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Q3 saw 68% revenue growth and GAAP profitability, with strong gains in DAUq, ad revenue, and international expansion. Gross margins exceeded 90%, and free cash flow was $70 million. Outlook for Q4 and 2025 remains robust, with continued investment in search and global growth.
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Strong user and revenue growth post-IPO is driven by AI-powered personalization, international expansion via LLM-based translation, and a focus on community-centric innovation. Strategic priorities include scaling the developer platform, enhancing ad transparency, and reaching $1B revenue and 100M DAU milestones.
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Q2 2024 delivered over 50% year-over-year growth in users and revenue, with strong international expansion, improved margins, and positive cash flow. Ad revenue and data licensing surged, while new product and AI initiatives advanced. Guidance for Q3 remains robust despite macro uncertainties.