secwatch.observer — SEC 8-K summary
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Issuer:     Reddit, Inc. (RDDT)
CIK:        0001713445
Form:       8-K
Filed at:   2024-08-06T23:59:59+00:00
Accession:  0001713445-24-000052
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1713445/000171344524000052/0001713445-24-000052-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1713445/000171344524000052/rddt-20240806.htm
  HTML page:      https://secwatch.observer/filing/0001713445-24-000052

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