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NYSE · Technology

Reddit, Inc. (RDDT)

As-reported financials and SEC filings for Reddit, Inc. The latest annual period is FY2025. The latest reported quarter is Q2 FY2026. Financial statements come straight from the company’s EDGAR filings; valuation figures such as P/E and market cap use market data.

About Reddit, Inc.

Reddit, Inc. operates Reddit, a global online platform where users join and create communities called subreddits based on shared interests. The platform allows users to engage in conversations, share content, and exchange information across a wide range of topics. Reddit serves individuals seeking authentic discussions and recommendations, as well as publishers, brands, and companies looking to connect with engaged audiences.

Snapshot

Revenue
$2.20B
Revenue growth (YoY)
69.4%
Net income
$529.7M
Diluted EPS
$2.62
Gross margin
91.2%
Operating margin
20.1%
Net margin
24.1%
FCF margin
31.1%
ROE
18.1%
net income / fiscal-year-end equity
P/E
34.4×
trailing when available, otherwise FY EPS
Market cap
$27.83B
Long-term debt / equity
non-current term debt only

Fundamentals are from SEC filings for FY2025, the latest annual period (ended December 31, 2025). P/E and market cap are derived from stored market prices, last retrieved on a rolling basis and typically within the past week.

What changed at Reddit

  • Revenue grew 69.4% to $2.2B in FY2025, faster than the 61.7% the year before.
  • Operating margin turned positive at 20.1% in FY2025, from a 25.8% operating loss in FY2022.
  • Most recent quarter Q2 FY2026: revenue $805M, up 61.1% from Q2 FY2025.
  • Free cash flow was $684M in FY2025, 31.1% of revenue.
  • Net income turned positive at $530M in FY2025, from a $484M loss in FY2024.

Computed from the as-reported figures in the statements below. A change we cannot state from filed figures is left out rather than estimated.

Peer comparison

Where Reddit’s fundamentals sit among the 332 software companies. Each figure is ranked only against peers that report it, from lowest (left) to highest (right).

Gross margin91.2%
Highest of 264
Operating margin20.1%
84th percentile of 303
Net margin24.1%
87th percentile of 307
FCF margin31.1%
88th percentile of 285
Revenue growth (YoY)+69.4%
94th percentile of 325
ROE18.1%
77th percentile of 285
P/E34.4×
61st percentile of 169
Short interest2.63d
39th percentile of 330

Reddit’s gross margin of 91.2% is the highest of the 264 software companies reporting it. Reddit’s revenue growth of +69.4% ranks in the 94th percentile of the 325 software companies reporting it. Reddit’s FCF margin of 31.1% ranks in the 88th percentile of the 285 software companies reporting it.

No reported insider purchases (code P) in the last 90 days; 80 insider sales totaling $45.0M. For context, about 15% of companies in the universe saw any reported insider purchase (code P) in the same window. Browse insider activity →

Percentiles describe where a figure sits among industry peers reporting it (100th = highest). They are position within a peer group, not a rating, and not investment advice. Short interest ranking uses days to cover from FINRA Consolidated Short Interest data; FINRA is the owner and source of that data, included at no additional charge.

Institutional ownership

Held by 7 of the superinvestors we track (plus 6 quant / multi-strat books), based on each investor’s most recent 13F; periods vary by investor (newest: Q2 2026).

Conviction investors
7
+6 quant / multi-strat
Initiated / added
7
2 new, 5 added
Reduced / exited
6
5 trimmed, 1 exited
Combined position
$1.73B
reported long value
InvestorAs ofPosition valueSharesChange
Coatue ManagementQ2 2026$484.3M2.8MHeld
Tiger Global ManagementQ2 2026$439.0M2.5MAdded
Viking Global InvestorsQ2 2026$271.7M1.6MReduced
Renaissance TechnologiesquantQ2 2026$251.7M1.5MReduced
Millennium ManagementquantQ2 2026$126.8M730.5KAdded
AQR Capital ManagementquantQ2 2026$52.6M302.8KAdded
Bridgewater AssociatesQ2 2026$44.7M257.4KAdded
D. E. ShawquantQ2 2026$24.5M141.2KReduced
Gotham Asset ManagementQ2 2026$19.6M112.9KAdded
Duquesne Family OfficeQ2 2026$9.8M56.5KNew
Citadel AdvisorsquantQ2 2026$5.7M32.7KNew
Soros Fund ManagementQ2 2026$1.9M11.0KReduced
Point72 Asset ManagementquantQ2 2026$520,7403.0KReduced

No longer held by: Two Sigma Investments (as of Q2 2026)

From quarterly Form 13F filings, which can be up to 45 days delayed. Long US-listed positions only: excludes short positions, options, cash, bonds, and non-US holdings, so this is not a manager’s complete portfolio. Counts are of the investors we track, not all institutions. Not investment advice.

Recent insider activity

Non-derivative buys and sells (codes P/S) reported by officers, directors and 10% owners on SEC Form 4.

Buys (90d)
0
code P
Bought (90d)
code P value
Sells (90d)
80
$45.0M
Reported activity
Net selling
by $ value, 90d
Trade dateInsiderTypeSharesPriceValue
2026-08-25
filed 2026-08-27
Sauerberg Robert A.DirectorSell5.1K$159.92$820K
2026-08-14
filed 2026-08-18
Wong Jennifer L.Chief Operating OfficerSell21.9K$180.00$3.9M
2026-08-14
filed 2026-08-18
Wong Jennifer L.Chief Operating OfficerSell14.0K$177.91$2.5M
2026-08-14
filed 2026-08-18
Wong Jennifer L.Chief Operating OfficerSell12.6K$178.71$2.2M
2026-08-14
filed 2026-08-18
Wong Jennifer L.Chief Operating OfficerSell11.4K$176.73$2.0M
2026-08-14
filed 2026-08-18
Wong Jennifer L.Chief Operating OfficerSell5.3K$175.70$935K
2026-08-14
filed 2026-08-18
Huffman Steve LaddCEO & PresidentSell5.1K$178.09$908K
2026-08-14
filed 2026-08-18
Wong Jennifer L.Chief Operating OfficerSell3.2K$180.71$578K
2026-08-14
filed 2026-08-18
Huffman Steve LaddCEO & PresidentSell2.8K$178.95$501K
2026-08-14
filed 2026-08-18
Huffman Steve LaddCEO & PresidentSell2.8K$177.04$497K
2026-08-14
filed 2026-08-18
Wong Jennifer L.Chief Operating OfficerSell2.8K$174.82$489K
2026-08-14
filed 2026-08-18
Wong Jennifer L.Chief Operating OfficerSell2.4K$181.88$437K

Reported non-derivative purchases and sales (codes P/S) — which may be open-market or private; excludes option exercises, grants, and shares withheld for taxes. Dates shown are the trade date; a Form 4 can be filed days to years later. A sale can be routine (e.g. a pre-set 10b5-1 plan), so read individual transactions in context. From SEC Form 4. Not investment advice.

Short interest

Total shares sold short as of each twice-monthly FINRA settlement. Rising short interest means more investors are positioned against the stock; days to cover estimates how many trading days of average volume that position represents.

Shares short
16.9M
settled 2026-08-14
Change vs prior
-12.2%
vs previous settlement
Days to cover
2.63
at avg daily volume
Avg daily volume
6.4M
FINRA reported
SettlementShares shortChangeDays to cover
2026-08-1416.9M-12.2%2.63
2026-07-3119.2M+13.1%2.77
2026-07-1517.0M-0.1%3.98
2026-06-3017.0M+3.3%4.26
2026-06-1516.5M+22.9%3.47
2026-05-2913.4M+0.7%2.17
2026-05-1513.3M-18.0%2.21
2026-04-3016.2M-4.5%3.80

Source: FINRA Consolidated Short Interest. FINRA is the owner and source of the FINRA-supplied data, which is included at no additional charge for your own personal or professional use; republishing or redistributing it is not permitted. Settlement dates are shown; FINRA publishes each settlement about nine business days later, so the latest figure can be two to four weeks old. Not presented as a percentage of float. No FINRA endorsement of this product is implied. Not investment advice.

Income statement (as reported)

 FY2025FY2024FY2023FY2022
Revenue$2.20B$1.30B$804.0M$666.7M
Gross profit$2.01B$1.18B$693.0M$561.9M
Operating income$442.0M$-560.6M$-140.2M$-172.2M
Net income$529.7M$-484.3M$-90.8M$-158.6M
Diluted EPS$2.62$-3.33$-1.54$-2.77

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Balance sheet (as reported)

 FY2025FY2024FY2023FY2022
Cash and equivalents$953.6M$562.1M$401.2M$435.8M
Current assets$3.14B$2.22B$1.48B
Total assets$3.24B$2.34B$1.60B
Current liabilities$271.3M$176.0M$133.6M
Long-term debt
Total liabilities$310.1M$205.8M$155.9M
Total equity$2.93B$2.13B$-412.9M$-379.1M

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Cash flow (as reported)

 FY2025FY2024FY2023FY2022
Operating cash flow$690.9M$222.1M$-75.1M$-94.0M
Capital expenditure$6.7M$6.2M$9.7M$6.2M
Free cash flow$684.2M$215.8M$-84.8M$-100.3M

Figures as reported to the SEC. Underlined values link to the filing they came from; dotted values are calculated by us from reported figures; “adj” means restated for a stock split (hover to see the figure as filed). Full details: where the numbers come from.

Quarterly trend (as reported)

QuarterRevenueRevenue YoYNet incomeDiluted EPS
Q2 FY2026$804.9M61.1%$252.8M$1.25
Q1 FY2026$663.4M69.1%$204.0M$1.01
Q4 FY2025$725.6M69.7%$251.6M$1.24
Q3 FY2025$584.9M67.9%$162.7M$0.80
Q2 FY2025$499.6M77.7%$89.3M$0.45
Q1 FY2025$392.4M61.5%$26.2M$0.13
Q4 FY2024$427.7M71.3%$71.0M$0.40
Q3 FY2024$348.4M67.9%$29.9M$0.16

Latest 8 reported quarters, from company XBRL filings on SEC EDGAR.

Company facts

ExchangeNYSE
SectorTechnology
SIC industryServices-Computer Processing & Data Preparation
Latest annual periodFY2025 (ended December 31, 2025)
Latest reported quarterQ2 FY2026 (ended June 30, 2026)
Oldest indexed filing2017
SEC CIK1713445

Selected SEC filings

10-K2026-02-06
View on EDGAR →
10-K2025-02-13
View on EDGAR →
10-Q2026-07-31
View on EDGAR →
10-Q2026-05-01
View on EDGAR →
10-Q2025-10-31
View on EDGAR →
10-Q2025-08-01
View on EDGAR →
8-K2026-08-12
View on EDGAR →
8-K2026-07-30
View on EDGAR →

Largest software peers

All software stocksAll Technology companies →

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Data sourced from SEC EDGAR. Figures are as-reported and may be unaudited or restated; verify against the source filing before relying on them. Informational only. Not investment advice.