Reddit Q2 revenue $281.2M (+54% YoY); first positive Adjusted EBITDA of $39.5M

Reddit, Inc.

2024-Q2 EPS reported -$4.99 revenue$524,147,000

DAUq hit 91.2M (+51% YoY); WAUq 342.3M (+57% YoY)
Ad revenue $253.1M (+41%); other revenue $28.1M (+691% on data licensing deals with OpenAI, Sprinklr)
Net loss narrowed to $10.1M from $41.1M YoY; gross margin 89.5% (up 530 bps)
Adjusted EBITDA $39.5M (14% margin) vs -$35.4M prior year; Free Cash Flow $27.2M
Q3 guidance: revenue $290M-$310M; Adj. EBITDA $40M-$60M; plans machine translation in Spanish, German, Portuguese

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