Reddit Inc. 8-K
PositiveEarningsNew guidance
Higher ad impressions and pricing drove advertising growth; Shopify integration will simplify advertiser onboarding.
Filed 2026-04-30 16:08 ET
- 2.02 Results of Operations
- 9.01 Financial Statements and Exhibits
Summary
Q1 2026 results with Q2 guidance. Revenue grew 69% Y/Y, the seventh consecutive quarter above 60% growth, led by advertising; global daily active uniques grew 17%. Reddit also reported 91.5% gross margin and strong cash generation.
Key Figures
| Metric | Q1 2026 | Q1 2025 | Y/Y |
|---|---|---|---|
| Revenue | $663M | $392M | 69% |
| Gross margin | 91.5% | 90.5% | +100 bp |
| Operating income | $183M | $3.90M | 4,590% |
| Net income | $204M | $26.2M | 680% |
| Adjusted EBITDA (non-GAAP) | $266M | $115M | 131% |
| Diluted EPS | $1.01 | $0.13 | 677% |
| Operating cash flow | $312M | $128M | 145% |
| Free cash flow (non-GAAP) | $311M | $127M | 146% |
| Global DAUq | 127M | 108M | 17% |
| Global WAUq | 493M | 401M | 23% |
- Advertising revenue was $625M (+74% Y/Y) and other revenue was $39M (+15%); advertising growth reflected higher impressions and pricing. U.S. DAUq grew 7% to 53.5M, while international DAUq grew 26% to 73.3M. Reddit announced a Shopify integration to simplify advertiser onboarding.
- Cash, cash equivalents and marketable securities totaled $2.77B at quarter-end. Capital expenditures were $1.09M; Reddit repurchased $5.0M of Class A shares, and fully diluted shares outstanding were 206.4M, up 0.2% Y/Y.
Guidance
| Metric | Period | Guidance | Prior | Direction |
|---|---|---|---|---|
| Revenue | Q2 2026 | $715M-$725M | — | — |
| Adjusted EBITDA (non-GAAP) | Q2 2026 | $285M-$295M | — | — |
Investor Takeaways
- Q2 revenue and non-GAAP Adjusted EBITDA versus their guided ranges will show whether the current growth and profitability momentum continues.
- Reddit’s stated goal is 100M U.S. daily users; progress from Q1’s 53.5M U.S. DAUq will indicate how its user-growth initiatives are tracking.
The summary is written by an AI model reading the filing.
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