secwatch.observer — SEC 8-K summary
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Issuer:     Reddit, Inc. (RDDT)
CIK:        0001713445
Form:       8-K
Filed at:   2024-05-07T23:59:59+00:00
Accession:  0001713445-24-000003
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1713445/000171344524000003/0001713445-24-000003-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1713445/000171344524000003/rddt-20240502.htm
  HTML page:      https://secwatch.observer/filing/0001713445-24-000003

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer