Company file · RDDT
Reddit's revenue rose 69.4% in FY2025, to $2.2B, and net income turned positive at $530M, from a net loss of $484M in FY2024
Revenue rose 69.4% to $2.2B in FY2025, from $1.3B in FY2024. Net income was $530M, against a net loss of $484M a year earlier. Advertising was the largest product or service, at 94% of revenue.
Key facts
Reddit (NYSE: RDDT) closed fiscal 2025 on Dec 31, 2025 with revenue of $2.2B, up 69.4% from a year before; net income came to $530M, compared with −$484M. Its newest quarterly report covers the three months to Sep 30, 2026: revenue of $895M, up 53.0% on the same stretch of the prior year, and net income of $283M. Broken down by product or service, Advertising led with 94% of fiscal 2025 revenue. Sources: 10-K for fiscal 2025 (filed Feb 6, 2026) and 10-Q for the quarter ended Sep 30, 2026 (filed Oct 30, 2026).
Source: 10-K FY2025, filed Feb 6, 2026
Source: 10-Q filed May 1, 2026 · 10-Q filed Jul 31, 2026 · 10-Q filed Oct 30, 2026
How it makes money
By product or service, FY2025
Source: 10-K FY2025, XBRL breakdown
By product or service in FY2025: Advertising (94%) and Other Revenue (6%), as shares of total revenue. Total revenue was $2.2B.
Source: 10-K FY2025
By region, FY2025
Share is of the FY2025 total; the last column is the change from FY2024.
Learn more: Revenue vs. net income · Gross, operating and net margin
What changed last quarter
Comparing Q3 2026 (Jul to Sep 2026) compared with Q3 2025 (Jul to Sep 2025)
Each pair of bars shows the dollar amount for both quarters. Longer bar, more money. Bars in a group share one scale.
Q3 2026Q3 2025
Company
Source: Reddit 10-Q for the quarter ended Sep 30, 2026, filed Oct 30, 2026
By product or service
Source: Reddit 10-Q for the quarter ended Sep 30, 2026, filed Oct 30, 2026
The bull case and the bear case
The bull case
- Revenue rose 69.4% in FY2025 to $2.2B, from $1.3B a year earlier. 10-K, FY2025
- Net income was $530M in FY2025, against a net loss of $484M in FY2024. 10-K, FY2025
- Operating cash flow rose 211.1% in FY2025 to $691M. 10-K, FY2025
- Revenue in the quarter ended Sep 30, 2026 was $895M, up 53.0% on a year earlier. 10-Q, quarter ended Sep 30, 2026
The bear case
- Diluted shares rose 38.9% in FY2025, which spreads profit across more shares. 10-K, FY2025
- The company's own risk factors are in Item 1A of its 10-K. Risks common in this industry include competition; advertising and consumer spending; content and rights costs. 10-K, Item 1A
What optimists and skeptics tend to point to, each tied to a filing. Ticker Sage doesn't pick a side, and neither list is a reason to buy or sell.
What the company does
Reddit is in the interactive media & services industry, part of the communication services sector. The SEC files it under Services-Computer Processing & Data Preparation.
The full description of Reddit's business is in Item 1 of its 10-K, linked below. This page shows its revenue by product or service and region.
Its fiscal year ends in December; the latest, FY2025, ended Dec 31, 2025.
Source: 10-K, Item 1 Business
Risks common in this industry
These are general risks for companies in the interactive media & services industry. They are not a summary of Reddit’s own risk factors; for those, read Item 1A of its latest 10-K, linked below.
- CompetitionRivals and new platforms compete for audiences, advertisers and subscribers.
- Advertising and consumer spendingAd budgets and subscriptions follow the economy.
- Content and rights costsProgramming, rights and network costs can rise faster than revenue.
- RegulationMedia, privacy and competition rules can limit what it can do.
- Technology changeShifts in how people watch, listen and connect can make products less relevant.
Source: 10-K, Item 1A Risk Factors (the company's own list, in the company's words)
Three years of key numbers
Every number links to its filing; hover for the XBRL tag. A dash means the number isn't cleanly available, and we don't estimate it.
| US$ | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Revenue | $804M | $1.3B | $2.2B |
| Net income | −$91M | −$484M | $530M |
| Operating cash flow | −$75M | $222M | $691M |
| Cash & equivalents (year end) | $401M | $562M | $954M |
| Diluted shares | 59M | 145M | 202M |
- Revenue: Total revenue for the fiscal year, as the company reports it on its income statement.
- Net income: Net income attributable to the company's shareholders, after all costs, interest and taxes.
- Operating cash flow: Cash the business brought in from its day-to-day operations during the year (cash flow statement).
- Cash & equivalents: Cash and short-term investments that count as cash equivalents on the balance sheet. Excludes longer-dated marketable securities.
- Diluted shares: Weighted average shares outstanding for the year, including the effect of options and stock awards.
Learn more: How to read an income statement · Earnings per share, basic and diluted · Free cash flow · How to read a balance sheet · Growth rate calculator · P/E calculator · Market cap calculator · Free cash flow calculator · Return on equity and assets calculator
Explainers for this page
- Risk factors (Item 1A)
- The cash flow statement
- Share classes: A, B and C shares
- Debt-to-equity ratio
- Revenue recognition (ASC 606)
- Shelf registrations (Form S-3)
- Finding filings on SEC EDGAR
Plain-English guides to terms this file uses, with real numbers from filings.
About these numbers
What we left out
- Total debt: the company's filing data doesn't carry a consistent debt total for the years shown, so it isn't shown.
Recent filings
| Form | Filed | Period |
|---|---|---|
| 10-Q | Oct 30, 2026 | Sep 30, 2026 |
| 10-Q | Jul 31, 2026 | Jun 30, 2026 |
| 10-Q | May 1, 2026 | Mar 31, 2026 |
| DEF 14A | Apr 23, 2026 | Jun 8, 2026 |
| 10-K | Feb 6, 2026 | Dec 31, 2025 |
Learn more: 10-K vs. 10-Q vs. 8-K · Form 4 insider filings · Fiscal years and quarters
Common questions about Reddit
How does Reddit make money?
Fiscal 2025 revenue: $2.2B. By product or service in FY2025: Advertising (94%) and Other Revenue (6%), as shares of total revenue. Total revenue was $2.2B. Source: 10-K for fiscal 2025, filed Feb 6, 2026.
What was Reddit's revenue in fiscal 2025?
$2.2B, up 69.4% from fiscal 2024 ($1.3B). The year ended Dec 31, 2025; for fiscal 2023 the figure was $804M. Source: 10-K for fiscal 2025, filed Feb 6, 2026.
Is Reddit profitable?
Net income was $530M in fiscal 2025 (compared with −$484M; fiscal 2024 was −$484M). That counts as a GAAP profit. The latest quarter, ended Sep 30, 2026: net income was $283M. The page's About these numbers section explains what is included. Source: 10-K for fiscal 2025, filed Feb 6, 2026.
What did Reddit report in its latest quarterly filing?
For the three months to Sep 30, 2026: revenue $895M (up 53.0% from $585M) and net income $283M (up 74.1% from $163M). Source: 10-Q for the quarter ended Sep 30, 2026, filed Oct 30, 2026.
What are the main risks Reddit faces?
Reddit's own risk factors are in Item 1A of its 10-K for fiscal 2025, filed Feb 6, 2026. Risks that are common among companies in the interactive media & services industry include Competition; advertising and consumer spending; content and rights costs; regulation; technology change. The first: Rivals and new platforms compete for audiences, advertisers and subscribers. Source: 10-K, Item 1A Risk Factors.
Where do these Reddit numbers come from?
The 10-K filed Feb 6, 2026 (fiscal 2025) and the 10-Q filed Oct 30, 2026 (quarter ended Sep 30, 2026), as published in the SEC's XBRL data. Click any number to open the filing it came from. Methodology explains how fiscal years and missing numbers are handled.
Tracked funds that report owning Reddit
- Baillie Gifford: 7,092,609 shares, reported value $1.01B at Sep 30, 2026 (−1.4% in shares since the filing for Jun 30, 2026). Form 13F filed Nov 9, 2026.
- Coatue Management: 2,789,891 shares, reported value $484.3M at Jun 30, 2026 (same number of shares as in the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
- Tiger Global Management: 2,528,819 shares, reported value $439.0M at Jun 30, 2026 (+1.2% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
- D1 Capital Partners: 2,464,411 shares, reported value $427.8M at Jun 30, 2026 (+0.2% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
- Viking Global Investors: 1,565,518 shares, reported value $271.7M at Jun 30, 2026 (−38.6% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
- Renaissance Technologies: 1,450,078 shares, reported value $251.7M at Jun 30, 2026 (−7.4% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 13, 2026.
- Millennium Management: 730,495 shares, reported value $126.8M at Jun 30, 2026 (+1,262.9% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
- Bridgewater Associates: 257,428 shares, reported value $44.7M at Jun 30, 2026 (+274.1% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
- Citadel Advisors: 32,674 shares, reported value $5.7M at Jun 30, 2026 (new in this filing). Form 13F filed Sep 2, 2026.
- Soros Fund Management: 11,003 shares, reported value $1.9M at Jun 30, 2026 (−54.3% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
- Point72 Asset Management: 3,000 shares, reported value $0.5M at Jun 30, 2026 (−33.8% in shares since the filing for Mar 31, 2026). Form 13F filed Aug 14, 2026.
From each fund’s latest Form 13F, which is filed up to 45 days after quarter end and lists long positions in US-listed stocks only. A listing here is a fact about a filing, not a view on the stock. What a 13F does and doesn’t show.
Disclosures
- Editor holdings in RDDT
- The editor holds no position in Reddit (RDDT). As of Nov 11, 2026.
- Trading rule
- The editor does not buy or sell RDDT from 3 days before to 3 days after this page is published or substantively updated.
- Compensation
- Nobody paid for this page. No affiliate links on this page.
- Sources
- The company's SEC filings, linked next to each number or, for charts, in the source line under them.
- Last updated
- Nov 9, 2026
General education, the same for every reader. Not a recommendation to buy, sell or hold RDDT, and it doesn't consider your situation.
Compare with peers
| Company | Fiscal year | Revenue | Revenue growth | Net income |
|---|---|---|---|---|
| RedditRDDT | FY2025 | $2.2B | +69.4% | $530M |
| Meta | FY2025 | $201.0B | +22.2% | $60.5B |
| NetflixNFLX | FY2025 | $45.2B | +15.9% | $11.0B |
Each row is that company’s latest fiscal year from its own 10-K, using its own revenue and net income lines. Fiscal years end in different months, and line definitions differ (banks, insurers and oil companies count revenue differently), so this is a rough side-by-side, not a like-for-like comparison.
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New to filings? Learn has plain-English explainers and Tools has calculators. Methodology & Disclosures covers where every number comes from.