Reddit, Inc. RDDT
Our mission is to empower communities and make their knowledge accessible to everyone.
We built Reddit with the belief that communities unlock the power of human creativity and create a sense of belonging and empowerment for their members. Our over 100,000 active communities have channeled the power of human creativity to grow Reddit since our founding. We believe the world needs community more than ever, and that this represents our greatest opportunity to further enrich the lives of everyone in the world.
Reddit is a global, digital city where anyone in the world can join a community to learn from one another, engage in authentic conversations, explore passions, research new hobbies, exchange goods and services, create new communities and experiences, share a few laughs, and find belonging. People are diverse and have multiple interests. Just like in a city, where citizens are part of multiple sub-communities, on Reddit, users often belong to multiple communities. At Reddit, users can dive into anything, and if a community does not already exist around a particular topic, they can create one. In the three months ended December 31, 2025, an average of 121.4 million daily active uniques ("DAUq") around the world came together on Reddit – continuously adding to our longstanding and constantly evolving human archive of information. They come together to share the rhythm of their daily discoveries, ask questions and receive advice, and search for a breadth of perspectives and knowledge not accessible anywhere else. Built on shared interests, passion, and trust, Reddit has a community for everyone.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Revenue | $2.20B | $1.30B | $804.0M | $666.7M | — |
| Cost of revenue | $194.2M | $123.6M | $111.0M | $104.8M | — |
| Gross profit | $2.01B | $1.18B | $693.0M | $561.9M | — |
| R&D | $783.1M | $935.2M | $438.3M | $365.2M | — |
| SG&A | $279.3M | $451.4M | $164.7M | $143.8M | — |
| Total operating expenses | $1.76B | $1.86B | $944.2M | $838.9M | — |
| Operating income | $442.0M | -$560.6M | -$140.2M | -$172.2M | — |
| Pre-tax income | $528.7M | -$485.2M | -$87.0M | -$157.9M | — |
| Income tax | $1.0M | $931.0K | $3.8M | $622.0K | — |
| Net income | $530.0M | -$484.0M | -$90.8M | -$158.6M | — |
| EPS, basic | 2.84 | -3.33 | -1.54 | -2.77 | — |
| EPS, diluted | 2.62 | -3.33 | -1.54 | -2.77 | — |
| Shares, diluted (wtd. avg.) | $202.1M | $145.5M | $59.1M | $57.3M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Cash and equivalents | $953.6M | $562.1M | $401.2M | $435.9M | $1.34B |
| Short-term investments | $1.52B | $1.28B | $811.9M | — | — |
| Receivables | $590.2M | $349.5M | $245.3M | — | — |
| Total current assets | $3.14B | $2.22B | $1.48B | — | — |
| Property, plant and equipment | $12.7M | $12.7M | $14.9M | — | — |
| Goodwill | $42.2M | $42.2M | $26.3M | — | — |
| Other intangibles | $15.5M | $25.4M | $32.1M | — | — |
| Total assets | $3.24B | $2.34B | $1.60B | — | — |
| Accounts payable | $62.9M | $45.4M | $46.5M | — | — |
| Total current liabilities | $271.3M | $176.0M | $133.6M | — | — |
| Total liabilities | $310.1M | $205.8M | $155.9M | — | — |
| Retained earnings | -$671.1M | -$1.20B | -$716.6M | — | — |
| Total equity | $2.93B | $2.13B | -$412.9M | -$379.1M | -$286.0M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Operating cash flow | $690.9M | $222.1M | -$75.1M | -$94.0M | — |
| Depreciation and amortisation | $15.9M | $15.6M | $13.7M | $8.0M | — |
| Stock-based compensation | $343.2M | $801.6M | $47.6M | $55.3M | — |
| Capital expenditure | $6.7M | $6.2M | $9.7M | $6.2M | — |
| Investing cash flow | -$218.9M | -$440.7M | $41.3M | -$804.2M | — |
| Financing cash flow | -$80.6M | $379.5M | -$811.0K | -$3.8M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001713445-26-000060.
Others in SIC 7374
| Ticker | Company | Market cap | P/E | Revenue growth |
|---|---|---|---|---|
| ADP | AUTOMATIC DATA PROCESSING INC | $110.29B | 25.4x | 6.7% |
| WDAY | Workday, Inc. | $48.00B | 75.6x | 13.1% |
| VRSK | Verisk Analytics, Inc. | $24.34B | 28.7x | 6.6% |
| TOST | Toast, Inc. | $19.62B | 60.6x | 24.1% |
| APLD | Applied Digital Corp. | $7.69B | — | 167.5% |
| HNGE | Hinge Health, Inc. | $7.29B | — | 50.6% |
| RNG | RingCentral, Inc. | $6.17B | 152.9x | 4.8% |
| PEGA | PEGASYSTEMS INC | $6.14B | 17.5x | 16.6% |