---
schema_version: "secwatch.filing_event.v1"
accession: "0001713445-24-000003"
form_type: "8-K"
ticker: "RDDT"
cik: "0001713445"
company_name: "Reddit, Inc."
filed_at: "2024-05-07T23:59:59+00:00"
generated_at: "2026-06-02T19:10:27.102653+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001713445-24-000003
- form_type: 8-K
- ticker: RDDT
- cik: 0001713445
- company_name: Reddit, Inc.
- filed_at: 2024-05-07T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1713445/000171344524000003/0001713445-24-000003-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1713445/000171344524000003/rddt-20240502.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001713445-24-000003
- JSON: https://secwatch.observer/filing/0001713445-24-000003.json
- Plain text: https://secwatch.observer/filing/0001713445-24-000003.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1713445/000171344524000003/0001713445-24-000003-index.htm
- Executive change
  Sarah Farrell was appointed as Director at Reddit, Inc..
  - Action: appointed
  - Role: Director
  source text: On May 2, 2024, the Board of Directors of Reddit (the “Board”) appointed Sarah Farrell, Managing Partner of Waygrove Partnership, to the Board.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1713445/000171344524000003/0001713445-24-000003-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.