Reddit Q1 revenue $243M (+48% YoY), DAUq 82.7M (+37%), first profitable Adjusted EBITDA quarter

Reddit, Inc.

2024-Q1 EPS reported -$8.19 revenue$242,963,000

Revenue $243.0M (+48% YoY); advertising revenue $222.7M (+39% YoY); other revenue $20.3M (+450% YoY).
DAUq 82.7M (+37% YoY); WAUq 306.2M (+40% YoY). U.S. DAUq +45%, International +30%.
Net loss $575.1M driven by $595.5M in IPO-related SBC; Adjusted EBITDA $10.0M vs. $(50.2M) prior year.
Q2 2024 guidance: revenue $240-255M, Adjusted EBITDA $0-15M; management targets revenue growth 2x cost growth.
Board appointed Sarah Farrell (Waygrove Partnership) as new independent director, Audit Committee member.

item 2.02 item 5.02 item 9.01

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Appointed

Sarah Farrell

Director

RDDT · Reddit, Inc.

Effective: 2024-05-02
Filed: May 7, 2024, 7:59 PM ET

On May 2, 2024, the Board of Directors of Reddit (the “Board”) appointed Sarah Farrell, Managing Partner of Waygrove Partnership, to the Board.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Reddit, Inc. reported the quarter ended March 31, 2024 results: revenue $243.0 million, net income ($575.1) million.

Period: the quarter ended March 31, 2024
Revenue: $243.0 million
Net income: ($575.1) million
Result: reported results

Exact text from the filing

EX-99.1 (EX-99.1) --- Reddit Announces First Quarter 2024 Results Record user traffic, Daily Active Uniques (“DAUq”) increased 37% to 82.7 million Revenue increased 48% to $243.0 million, nearly doubling growth rate from prior quarter Net loss driven by IPO expenses, first profitable Q1 on an Adjusted EBITDA basis Operating cash flow of $32.1 million and positive

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Executive change SEC 8-K Item 5.02 confidence 0.95

Sarah Farrell was appointed as Director at Reddit, Inc..

Action: appointed
Role: Director

Exact text from the filing

On May 2, 2024, the Board of Directors of Reddit (the “Board”) appointed Sarah Farrell, Managing Partner of Waygrove Partnership, to the Board.

View on SEC.gov

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Reddit, Inc. filing history →

Source: SEC EDGAR

accession 0001713445-24-000003

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