Jun 2026 (Q2 FY26) — Jul 30, 2026
Reddit Q2 FY26 — Strong Revenue Growth and Improved App User Retention
Read the full callReddit earnings: last reported Thu, 30 Jul 2026, for the quarter ended Jun 2026.
Reported
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 805 | +61.1% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 28.8 | +15.2 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 253 | +183.2% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Guidance
19 of 21 judged targets kept · 12 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Adjusted EBITDA | $285 million to $295 million (40% adjusted EBITDA margin at the midpoint) | Mar 2026 | hit an adjusted EBITDA margin of 43% and crossed a major milestone we've been chasing, $1 million revenue per employee | Achieved |
| Total adjusted costs | $430 million (approximately 29% year-over-year growth) | Mar 2026 | Total adjusted costs and expenses, which include both adjusted cost of revenue and adjusted OpEx, were $462 million, up 39% year-over-year. | Missed |
| Stock-based compensation expense as a percentage of revenue | high teens as a percentage of revenue | Dec 2025 | We are lowering our full year expense guide for SBC from the high teens as a percentage of revenue to the low to the mid-teens as a percentage of revenue. | Revised Up |
2 of Reddit, Inc.'s 33 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 30 more targets are in the full ledger.
Claimed
Qualified
Price
1Y: $194.95 on 17 Oct 2025 → $155.14. High $258.93 (13 Jan 2026), low $121.84 (27 Mar 2026).
Overview
Guidance
19 of 21 judged targets kept · 12 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Adjusted EBITDA | $285 million to $295 million (40% adjusted EBITDA margin at the midpoint) | Mar 2026 | hit an adjusted EBITDA margin of 43% and crossed a major milestone we've been chasing, $1 million revenue per employee | Achieved |
| Total adjusted costs | $430 million (approximately 29% year-over-year growth) | Mar 2026 | Total adjusted costs and expenses, which include both adjusted cost of revenue and adjusted OpEx, were $462 million, up 39% year-over-year. | Missed |
| Stock-based compensation expense as a percentage of revenue | high teens as a percentage of revenue | Dec 2025 | We are lowering our full year expense guide for SBC from the high teens as a percentage of revenue to the low to the mid-teens as a percentage of revenue. | Revised Up |
Claimed
Qualified
The full ledger
A free account opens 5 company ledgers a month. All 33 tracked commitments, with each call’s wording and source.
Call summaries
Reddit Q2 FY26 — Strong Revenue Growth and Improved App User Retention
Read the full callReddit, Inc. Q1 FY26 — Strong Revenue Growth and Profitability Driven by Differentiated Platform and AI Value
Read the full callReddit, Inc. Q4 FY25 — Strong Revenue Growth and Share Repurchase Program
Read the full callEvery analysed call
Financials
Net profit, year on year: +183% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 348 | 428 | 392 | 500 | 585 | 726 | 663 | 805 |
| Expenses | 341 | 375 | 388 | 432 | 446 | 494 | 480 | 573 |
| Operating profit | 7 | 53 | 4 | 68 | 139 | 232 | 183 | 232 |
| Operating margin | 2.0% | 12.4% | 1.0% | 13.6% | 23.7% | 31.9% | 27.6% | 28.8% |
| Other income | 23 | 17 | 21 | 21 | 22 | 23 | 23 | 25 |
| Profit before tax | 30 | 70 | 24 | 89 | 161 | 255 | 206 | 257 |
| Tax rate | −0.1% | −1.5% | −7.0% | −0.5% | −1.3% | 1.3% | 0.8% | 1.6% |
| Net profit | 30 | 71 | 26 | 89 | 163 | 252 | 204 | 253 |
| EPS ($ per share) | 0.18 | — | 0.14 | 0.48 | 0.87 | — | 1.07 | 1.31 |
| Line item | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|
| Reserves | — | -717 | -1,201 | -671 |
| Total liabilities | — | 156 | 206 | 310 |
| Fixed assets | — | 15 | 13 | 13 |
| Total assets | — | 1,596 | 2,337 | 3,239 |
| Line item | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|
| Cash from operations | -94 | -75 | 222 | 691 |
| Cash from investing | -804 | 41 | -441 | -219 |
| Cash from financing | -4 | -1 | 380 | -81 |
| Net cash flow | -902 | -35 | 161 | 391 |
| Capital expenditure | -6 | -10 | -6 | -7 |
| Free cash flow | -100 | -85 | 216 | 684 |
| Segment | Q1 FY2024 | Q2 FY2024 | Q3 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Other Revenue | 8% | 10% | 10% | — | 7% | 6% | 6% | 5% | +24.2% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
| KPI | Mar 2025 Q1 FY25 | Jun 2025 Q2 FY25 | Sep 2025 Q3 FY25 | Dec 2025 Q4 FY25 | Mar 2026 Q1 FY26 | Jun 2026 Q2 FY26 | Change vs prior quarter |
|---|---|---|---|---|---|---|---|
| Daily active uniques (DAUq) | 108MWe ended the quarter with 401 million weeklies and 108 million dailies, both up 31% year-over-year, and we continue to scale efficiently while investing in the future.Source: earnings call transcript | 110MDaily active users grew to 110 million, up 21% year-over-year with growth in both the US and international markets.Source: earnings call transcript | 116MWe ended the quarter with 116 million DAUq and 444 million WAUq, both growing around 20% year-over-year.Source: earnings call transcript | 121M+In Q4 alone, we welcomed over 121 million daily active users to our platform, up 19% year-over-year and over 471 million weekly active users, up 24%.Source: earnings call transcript | 120M+And over the last 10 years, we've 10x that to over 120 million DAU.Source: earnings call transcript | — | — |
| Employees | 2,300+We ended the quarter with slightly more than 2,300 people, up 3% sequentially.Source: earnings call transcript | — | — | 2,555The company ended with 2,555 total headcount, up 14% versus last year and up about 3% sequentially from Q3, the same pace as the prior quarters.Source: earnings call transcript | — | — | — |
| Weekly active uniques (WAUq) | 401MWe ended the quarter with 401 million weeklies and 108 million dailies, both up 31% year-over-year, and we continue to scale efficiently while investing in the future.Source: earnings call transcript | — | 444MWe ended the quarter with 116 million DAUq and 444 million WAUq, both growing around 20% year-over-year.Source: earnings call transcript | 471M+In Q4 alone, we welcomed over 121 million daily active users to our platform, up 19% year-over-year and over 471 million weekly active users, up 24%.Source: earnings call transcript | <500MWe already have tremendous reach today with nearly 500 million weekly users globally and 200 million in the United States.Source: earnings call transcript | — | — |
| Average revenue per user (ARPU) | — | $4.53Average Revenue Per User, ARPU grew 47% year-over-year to $4.53, which is still low on an absolute basis and remains an opportunity.Source: earnings call transcript | $5.04Average revenue per user, ARPU, grew 41% year-over-year to $5.04, which is still low on an absolute basis and remains an opportunity.Source: earnings call transcript | $5.98Average revenue per user, or ARPU, grew 42% year-over-year to $5.98.Source: earnings call transcript | $5.23Average revenue per user ARPU grew 44% year-over-year to $5.23.Source: earnings call transcript | $6.18Average revenue per unique user grew 36% year-over-year to $6.18.Source: earnings call transcript | +18.2% |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Q2 FY2026 · share of revenue
As RDDT cuts its regions in its filings; they can nest, so they need not add to 100%.
628 filings between Oct 22, 2025 and Oct 14, 2026.
Purchases
$8.87M
4 purchases by 1 insider
Sales
$258.94M
498 sales by 7 insiders
100% filed under a 10b5-1 plan — scheduled in advance, not decided on the day
Also filed: 13 conversions, 11 gifts.
| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Wong Jennifer L. | — | $116.66M | Oct 14, 2026 |
| Huffman Steve Ladd | — | $74.87M | Oct 13, 2026 |
| Slowe Christopher Brian | — | $32.76M | Apr 8, 2026 |
| Lee Benjamin Seong | — | $26.83M | Feb 23, 2026 |
| FARRELL SARAH E | $8.87M | — | Mar 13, 2026 |
| Reynolds Michelle Marie | — | $3.71M | Jul 1, 2026 |
| Vollero Andrew | — | $3.29M | Jan 13, 2026 |
| Sauerberg Robert A. | — | $820.1K | Aug 25, 2026 |
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Oct 14, 2026 | Wong Jennifer L. Chief Operating Officer | Sale 10b5-1 plan | 6,399 | $960.4K |
| Oct 14, 2026 | Wong Jennifer L. Chief Operating Officer | Sale 10b5-1 plan | 2,100 | $323.5K |
| Oct 14, 2026 | Wong Jennifer L. Chief Operating Officer | Sale 10b5-1 plan | 11,200 | $1.69M |
| Oct 14, 2026 | Wong Jennifer L. Chief Operating Officer | Option exercise 10b5-1 plan | 45,437 | $943.3K |
| Oct 14, 2026 | Wong Jennifer L. Chief Operating Officer | Sale 10b5-1 plan | 5,701 | $871.2K |
| Oct 14, 2026 | Wong Jennifer L. Chief Operating Officer | Sale 10b5-1 plan | 1,639 | $253.8K |
| Oct 14, 2026 | Wong Jennifer L. Chief Operating Officer | Sale 10b5-1 plan | 1,361 | $212.2K |
| Oct 14, 2026 | Wong Jennifer L. Chief Operating Officer | Option exercise 10b5-1 plan | 14,563 | $368.3K |
| Oct 14, 2026 | Wong Jennifer L. Chief Operating Officer | Sale 10b5-1 plan | 5,495 | $836.0K |
| Oct 14, 2026 | Wong Jennifer L. Chief Operating Officer | Sale 10b5-1 plan | 26,105 | $3.89M |
| Oct 13, 2026 | Huffman Steve Ladd CEO & President | Option exercise 10b5-1 plan | 17,308 | $437.7K |
| Oct 13, 2026 | Huffman Steve Ladd CEO & President | Sale 10b5-1 plan | 1,300 | $203.4K |
| Oct 13, 2026 | Huffman Steve Ladd CEO & President | Sale 10b5-1 plan | 4,200 | $662.0K |
| Oct 13, 2026 | Huffman Steve Ladd CEO & President | Sale 10b5-1 plan | 2,500 | $397.1K |
| Oct 13, 2026 | Huffman Steve Ladd CEO & President | Sale 10b5-1 plan | 1,700 | $275.4K |
| Oct 13, 2026 | Huffman Steve Ladd CEO & President | Sale 10b5-1 plan | 500 | $81.9K |
| Oct 13, 2026 | Huffman Steve Ladd CEO & President | Sale 10b5-1 plan | 3,408 | $529.4K |
| Oct 13, 2026 | Huffman Steve Ladd CEO & President | Sale 10b5-1 plan | 1,200 | $191.7K |
| Oct 13, 2026 | Huffman Steve Ladd CEO & President | Sale 10b5-1 plan | 700 | $114.0K |
| Oct 13, 2026 | Huffman Steve Ladd CEO & President | Sale 10b5-1 plan | 1,800 | $289.7K |
| Oct 5, 2026 | FARRELL SARAH E Director | Award | 126 | $0 |
| Oct 5, 2026 | FILIKRUSHEL PATRICIA Director | Award | 122 | $0 |
| Oct 5, 2026 | Habiger David C Director | Award | 284 | $0 |
| Oct 5, 2026 | Gale Mary Porter Director | Award | 107 | $0 |
| Oct 5, 2026 | Newhouse Steven O Director | Award | 115 | $0 |
| Oct 5, 2026 | Seibel Michael Director | Award | 103 | $0 |
| Sep 29, 2026 | Huffman Steve Ladd CEO & President | Sale 10b5-1 plan | 300 | $42.7K |
| Sep 29, 2026 | Huffman Steve Ladd CEO & President | Sale 10b5-1 plan | 5,308 | $772.1K |
| Sep 29, 2026 | Huffman Steve Ladd CEO & President | Sale 10b5-1 plan | 776 | $113.8K |
| Sep 29, 2026 | Huffman Steve Ladd CEO & President | Sale 10b5-1 plan | 8,100 | $1.17M |
| Sep 29, 2026 | Huffman Steve Ladd CEO & President | Sale 10b5-1 plan | 324 | $47.7K |
| Sep 29, 2026 | Huffman Steve Ladd CEO & President | Sale 10b5-1 plan | 2,500 | $359.4K |
| Sep 29, 2026 | Huffman Steve Ladd CEO & President | Option exercise 10b5-1 plan | 17,308 | $437.7K |
| Sep 15, 2026 | Huffman Steve Ladd CEO & President | Sale 10b5-1 plan | 7,602 | $1.21M |
| Sep 15, 2026 | Huffman Steve Ladd CEO & President | Option exercise 10b5-1 plan | 17,308 | $437.7K |
| Sep 15, 2026 | Huffman Steve Ladd CEO & President | Sale 10b5-1 plan | 1,400 | $227.9K |
| Sep 15, 2026 | Huffman Steve Ladd CEO & President | Sale 10b5-1 plan | 300 | $49.1K |
| Sep 15, 2026 | Huffman Steve Ladd CEO & President | Sale 10b5-1 plan | 900 | $142.4K |
| Sep 15, 2026 | Huffman Steve Ladd CEO & President | Sale 10b5-1 plan | 6,027 | $966.0K |
| Sep 15, 2026 | Huffman Steve Ladd CEO & President | Sale 10b5-1 plan | 1,079 | $173.7K |
| Sep 14, 2026 | Wong Jennifer L. Chief Operating Officer | Sale 10b5-1 plan | 2,700 | $426.7K |
| Sep 14, 2026 | Wong Jennifer L. Chief Operating Officer | Sale 10b5-1 plan | 8,758 | $1.39M |
| Sep 14, 2026 | Wong Jennifer L. Chief Operating Officer | Sale 10b5-1 plan | 5,442 | $869.8K |
| Sep 14, 2026 | Wong Jennifer L. Chief Operating Officer | Option exercise 10b5-1 plan | 16,453 | $88.0K |
| Sep 14, 2026 | Wong Jennifer L. Chief Operating Officer | Sale 10b5-1 plan | 8,690 | $1.42M |
| Sep 14, 2026 | Wong Jennifer L. Chief Operating Officer | Sale 10b5-1 plan | 13,010 | $2.14M |
| Sep 14, 2026 | Wong Jennifer L. Chief Operating Officer | Sale 10b5-1 plan | 9,100 | $1.48M |
| Sep 14, 2026 | Wong Jennifer L. Chief Operating Officer | Sale 10b5-1 plan | 6,500 | $1.07M |
| Sep 14, 2026 | Wong Jennifer L. Chief Operating Officer | Option exercise 10b5-1 plan | 43,547 | $904.0K |
| Sep 14, 2026 | Wong Jennifer L. Chief Operating Officer | Sale 10b5-1 plan | 3,500 | $563.7K |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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