Reddit said revenue for the 3 months ended September 30, 2024 was $348.4 million, up 68% from the prior-year period. The company cited growth in advertising revenue as the main factor, driven by an increase in impressions delivered, while pricing was consistent with the prior year.

10-QQuarterly reportFiled Oct 30, 2024Period of report Sep 30, 2024Summary published (UTC) Oct 23, 2026

Key points

AI summary

Reddit said revenue for the 3 months ended September 30, 2024 was $348.4 million, up 68% from the prior-year period. The company cited growth in advertising revenue as the main factor, driven by an increase in impressions delivered, while pricing was consistent with the prior year.
The company said Daily Active Uniques (DAUq) for the 3 months ended September 30, 2024 were 97.2 million, up 47% from the prior-year period, and ARPU was $3.58, up 14%. It said DAUq grew 51% in the United States and 44% in the rest of the world.
Reddit said net income for the 3 months ended September 30, 2024 was $29.9 million, compared with a net loss of $(7.4) million in the prior-year period. Adjusted EBITDA was $94.1 million ($(6.9) million in the prior-year period), and gross margin was 90.1% (87.3% in the prior-year period).
The company said it completed its IPO in March 2024, with net proceeds of $600.0 million after underwriting discounts and commissions of $31.6 million. As of September 30, 2024, cash, cash equivalents, and marketable securities were $1.7 billion, and the available balance under the Revolving Credit Facility was $745.0 million.

Key figures

Quarter ended September 30, 2024

Revenue: $348M
Operating income: $7M
Net income: $30M
EPS: $0.16
Operating cash flow: $72M

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Quarterly Revenue Reaches $348.4 million, Up 68% Year over Year

Reddit said revenue for the 3 months ended September 30, 2024 was $348.4 million, up 68% from the prior-year period. The company cited growth in advertising revenue as the main factor, driven by an increase in impressions delivered, while pricing was consistent with the prior year.

Source · Based on the MD&A text of the filing

DAUq at 97.2 million, ARPU at $3.58

The company said Daily Active Uniques (DAUq) for the 3 months ended September 30, 2024 were 97.2 million, up 47% from the prior-year period, and ARPU was $3.58, up 14%. It said DAUq grew 51% in the United States and 44% in the rest of the world.

Source · Based on the MD&A text of the filing

Quarterly Net Income of $29.9 million, Adjusted EBITDA of $94.1 million

Reddit said net income for the 3 months ended September 30, 2024 was $29.9 million, compared with a net loss of $(7.4) million in the prior-year period. Adjusted EBITDA was $94.1 million ($(6.9) million in the prior-year period), and gross margin was 90.1% (87.3% in the prior-year period).

Source · Based on the MD&A text of the filing

IPO Net Proceeds of $600.0 million, Cash and Equivalents of $1.7 billion

The company said it completed its IPO in March 2024, with net proceeds of $600.0 million after underwriting discounts and commissions of $31.6 million. As of September 30, 2024, cash, cash equivalents, and marketable securities were $1.7 billion, and the available balance under the Revolving Credit Facility was $745.0 million.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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