- Revenue: $392.4M, +61% Y/Y
- Net Income: $26.2M vs $(575.1)M Y/Y
- DAUq: 108.1M, +31% Y/Y
CEO Steve Huffman: “20 years in, I have never been more excited about Reddit’s future than I am now.”
🌱Revenue & Growth
- U.S.: $313.9M, +57% Y/Y
- International: $78.5M, +82% Y/Y
- Ad revenue: $358.6M, +61% Y/Y
- Other revenue: $33.7M, +66% Y/Y
- ARPU: Global $3.63, +23% Y/Y; U.S. $6.27, +31% Y/Y; International $1.34, +22% Y/Y
💰Profits & Health
- Gross Margin: 90.5%, +190bps Y/Y
- Adjusted EBITDA: $115.3M, +$105.3M Y/Y
- Adjusted EBITDA Margin: 29.4% vs 4.1%
- Free Cash Flow: $126.6M vs $29.2M
- Operating Cash Flow: $127.6M vs $32.1M
- Diluted EPS: $0.13 vs $(8.19)
- Fully Diluted Shares: 206.0M, down 0.1% Q/Q
📌Business Highlights
- Logged-in DAUq: 48.7M, +23% Y/Y
- Logged-out DAUq: 59.4M, +38% Y/Y
- WAUq: 401.3M, +31% Y/Y
- Maintained capex <1% of revenue ($1.0M)
- Cash & equivalents: $1.95B
🔮Future Outlook
- Q2 Revenue: $410M–$430M
- Q2 Adjusted EBITDA: $110M–$130M