Reddit, Inc.

Listed Company

RDDTCIK 0001713445NYSELarge AcceleratedServices-Computer Processing & Data PreparationDelawareFY ends Dec 31

Period

FY 2025

Revenue

$2.20B

Net Income

$529.72M

Total Assets

$3.24B

Equity

$2.93B

Shares Out

—

Op. Cash Flow

$690.88M

Business

Reddit, Inc. operates a global online platform that hosts user-created communities (subreddits) for discussion, information sharing, and content discovery. It offers a social content platform featuring posts, comments, multimedia, community moderation tools, advertising products, content licensing, a developer platform, and creator monetization programs. Key business areas include its advertising marketplace, content licensing and data services, and an emerging user economy supported by developer tools and contributor and commerce initiatives. Reddit distributes its services via its website, mobile applications, APIs, and search/third-party integrations to users and advertisers worldwide.

Summary from filing dated 2025-02-13

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31
Revenue	2,203	1,300	804	667
Cost of revenue	194	124	111	105
Research and development	783	935	438	365
Sales and marketing	504	351	230	225
General and administrative	279	451	165	144
Total costs and expenses	1,761	1,861	944	839
Income (loss) from operations	442	−561	−140	−172
Other income (expense), net	87	75	53	14
Income (loss) before income taxes	529	−485	−87	−158
Income tax expense (benefit)	−1	−931,000	4	622,000
Net income (loss)	530	−484	−91	−159
Basic (in dollars per share)	2.84	−3.33	−1.54	−2.77
Diluted (in dollars per share)	2.62	−3.33	−1.54	−2.77
Basic (in shares)	186	145	59	57
Diluted (in shares)	202	145	59	57

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	954	562	401	436	—
Marketable securities	1,523	1,279	812	—	—
Accounts receivable, net	590	350	245	—	—
Prepaid expenses and other current assets	69	33	21	—	—
Total current assets	3,136	2,223	1,480	—	—
Property and equipment, net	13	13	15	—	—
Operating lease right-of-use assets, net	21	23	24	—	—
Intangible assets, net	16	25	32	—	—
Goodwill	42	42	26	—	—
Other noncurrent assets	12	10	19	—	—
Total assets	3,239	2,337	1,596	—	—
Accounts payable	63	45	47	—	—
Operating lease liabilities	7	6	4	—	—
Accrued expenses and other current liabilities	201	124	83	—	—
Total current liabilities	271	176	134	—	—
Operating lease liabilities, noncurrent	16	21	22	—	—
Other noncurrent liabilities	23	9	287,000	—	—
Total liabilities	310	206	156	—	—
Commitments and contingencies (Note 11)	—	—	—	—	—
Preferred stock, par value $0.0001 per share; 100,000,000 authorized as of December 31, 2025 and 2024; no shares issued and outstanding as of December 31, 2025 and 2024	0	0	0	—	—
Additional paid-in capital	3,596	3,332	303	—	—
Accumulated other comprehensive income (loss)	4	24,000	814,000	—	—
Accumulated deficit	−671	−1,201	−717	—	—
Total stockholders equity (deficit)	2,929	2,131	−413	−379	−286
Total liabilities and stockholders equity (deficit)	3,239	2,337	1,596	—	—

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31
Depreciation and amortization	16	16	14	8
Non-cash operating lease cost	6	4	11	10
Amortization of premium (accretion of discount) on marketable securities, net	−28	−43	−27	−3
Stock-based compensation expense	343	802	48	55
Other adjustments	848,000	−4	484,000	4
Accounts receivable	−241	−104	−53	−30
Prepaid expenses and other assets	−37	−19	4	−2
Operating lease right-of-use assets and liabilities	−7	−2	−6	−10
Accounts payable	18	−570,000	12	11
Accrued expenses and other liabilities	91	59	13	21
Net cash provided by (used in) operating activities	691	222	−75	−94
Purchases of property and equipment	−7	−6	−10	−6
Purchases of marketable securities	−2,298	−1,997	−1,260	−1,431
Maturities of marketable securities	2,066	1,574	1,273	674
Proceeds from sale of marketable securities	17	0	38	500,000
Cash paid for acquisitions, net of cash acquired	0	−17	0	−42
Other investing activities	3	6	172,000	−64,000
Net cash provided by (used in) investing activities	−219	−441	41	−804
Proceeds from issuance of Class A common stock in initial public offering, net of underwriting discounts and commissions	0	600	0	0
Proceeds from exercise of employee stock options	25	89	8	7
Taxes paid related to net share settlement of restricted stock units	−104	−295	−4	0
Payments of initial public offering costs	0	−9	−1	−10
Other financing activities	−2	−6	−3	−1
Net cash provided by (used in) financing activities	−81	380	−811,000	−4
Net increase (decrease) in cash, cash equivalents, and restricted cash	391	161	−35	−902
Conversion of convertible preferred stock to common stock upon initial public offering	0	1,853	0	0
Reclassification of deferred offering costs to additional paid-in capital upon initial public offering	0	24	0	0

Filings

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