$RDDT

Reddit, Inc.

CIK:0001713445|SEC Filings

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenue	$ 804,905	$ 499,627	$ 1,468,316	$ 891,988
Costs and expenses:
Cost of revenue	70,308	45,900	126,575	82,989
Research and development	231,276	196,610	438,522	387,881
Sales and marketing	195,897	120,619	347,369	211,304
General and administrative	75,708	68,787	141,222	138,200
Total costs and expenses	573,189	431,916	1,053,688	820,374
Income from operations	231,716	67,711	414,628	71,614
Other income (expense), net	25,119	21,147	47,935	41,681
Income before income taxes	256,835	88,858	462,563	113,295
Income tax expense (benefit)	3,987	(439)	5,734	(2,160)
Net income	$ 252,848	$ 89,297	$ 456,829	$ 115,455
Net income per share attributable to Class A and Class B common stock (Note 4)
Basic (in dollars per share)	$ 1.31	$ 0.48	$ 2.38	$ 0.63
Diluted (in dollars per share)	$ 1.25	$ 0.45	$ 2.26	$ 0.58
Weighted-average shares of Class A and Class B common stock used to compute net income per share attributable to common stockholders
Basic (in shares)	192,345,684	185,437,777	191,932,329	183,730,992
Diluted (in shares)	202,029,721	199,522,433	202,326,864	200,681,458

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities
Net income	$ 252,848	$ 89,297	$ 456,829	$ 115,455
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	4,258	3,934	8,468	7,897
Non-cash operating lease cost	1,743	1,514	3,419	2,982
Amortization of premium (accretion of discount) on marketable securities, net	(2,799)	(6,691)	(7,096)	(15,575)
Stock-based compensation expense	100,952	89,070	169,288	174,484
Other adjustments	85	97	(606)	(41)
Changes in operating assets and liabilities:
Accounts receivable	(127,228)	(81,116)	(59,271)	(57,757)
Prepaid expenses and other assets	(12,454)	(9,352)	(36,206)	(26,358)
Operating lease right-of-use assets and liabilities	(1,575)	(1,589)	(3,390)	(3,369)
Accounts payable	37,020	19,991	26,037	18,945
Accrued expenses and other liabilities	9,026	6,176	16,657	22,246
Net cash provided by (used in) operating activities	261,876	111,331	574,129	238,909
Cash flows from investing activities
Purchases of property and equipment	(1,134)	(505)	(2,224)	(1,484)
Purchases of marketable securities	(311,978)	(556,457)	(676,907)	(1,061,303)
Maturities of marketable securities	409,247	552,532	883,715	1,017,594
Proceeds from sale of marketable securities	0	0	17,989	12,372
Other investing activities	(1,421)	2,354	(3,037)	3,243
Net cash provided by (used in) investing activities	94,714	(2,076)	219,536	(29,578)
Cash flows from financing activities
Proceeds from exercise of employee stock options	5,037	4,303	9,936	14,487
Taxes paid related to net share settlement of restricted stock units	(14,546)	(15,225)	(30,742)	(51,900)
Repurchases of Class A common stock	(234,591)	0	(239,590)	0
Net cash provided by (used in) financing activities	(244,100)	(10,922)	(260,396)	(37,413)
Net increase (decrease) in cash and cash equivalents	112,490	98,333	533,269	171,918
Cash and cash equivalents at the beginning of the period	1,374,348	635,727	953,569	562,142
Cash and cash equivalents at the end of the period	$ 1,486,838	$ 734,060	$ 1,486,838	$ 734,060

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 1,486,838	$ 953,569
Marketable securities	1,299,519	1,523,242
Accounts receivable, net	650,098	590,162
Prepaid expenses and other current assets	105,210	69,012
Total current assets	3,541,665	3,135,985
Property and equipment, net	11,981	12,710
Operating lease right-of-use assets, net	18,411	20,788
Intangible assets, net	10,565	15,521
Goodwill	42,174	42,174
Other noncurrent assets	11,809	11,995
Total assets	3,636,605	3,239,173
Current liabilities:
Accounts payable	89,144	62,929
Operating lease liabilities	7,783	7,023
Accrued expenses and other current liabilities	240,822	201,331
Total current liabilities	337,749	271,283
Operating lease liabilities, noncurrent	13,084	16,191
Other noncurrent liabilities	72	22,661
Total liabilities	350,905	310,135
Commitments and contingencies (Note 9)
Stockholders’ equity:
Preferred stock, par value $0.0001 per share; 100,000,000 shares authorized as of June 30, 2026 and December 31, 2025; no shares issued and outstanding as of June 30, 2026 and December 31, 2025	0	0
Additional paid-in capital	3,504,664	3,595,772
Accumulated other comprehensive income (loss)	(4,695)	4,364
Accumulated deficit	(214,288)	(671,117)
Total stockholders’ equity	3,285,700	2,929,038
Total liabilities and stockholders’ equity	3,636,605	3,239,173
Class A common stock
Stockholders’ equity:
Common stock, value	14	14
Class B common stock
Stockholders’ equity:
Common stock, value	5	5
Class C common stock
Stockholders’ equity:
Common stock, value	$ 0	$ 0