NYSE: RDDT
Communication Services · Services-Computer Processing & Data Preparation
52-week range
Stock price
Market cap
At each fiscal year end, then the latest quarter end: closing price × shares outstanding.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.$27.5B
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| Period | Market cap |
|---|---|
| FY2022, ended Dec 31, 2022 | — |
| FY2023, ended Dec 31, 2023 | — |
| FY2024, ended Dec 31, 2024 | $29.6B |
| FY2025, ended Dec 31, 2025 | $43.9B |
| Trailing 12 months to Sep 30, 2026 (through Q3 FY2026) | $27.5B |
Revenue
By fiscal year, then the trailing 12 months.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.$3.09B
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| Period | Revenue |
|---|---|
| FY2022, ended Dec 31, 2022 | $667M |
| FY2023, ended Dec 31, 2023 | $804M |
| FY2024, ended Dec 31, 2024 | $1.30B |
| FY2025, ended Dec 31, 2025 | $2.20B |
| Trailing 12 months to Sep 30, 2026 (through Q3 FY2026) | $3.09B |
Net income and free cash flow
By fiscal year, then the trailing 12 months. Free cash flow is operating cash flow minus capex.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.Show tableHide table
| Period | Net income | Free cash flow |
|---|---|---|
| FY2022, ended Dec 31, 2022 | −$159M | −$100M |
| FY2023, ended Dec 31, 2023 | −$90.8M | −$84.8M |
| FY2024, ended Dec 31, 2024 | −$484M | $216M |
| FY2025, ended Dec 31, 2025 | $530M | $684M |
| Trailing 12 months to Sep 30, 2026 (through Q3 FY2026) | $992M | $1.20B |
Cash and cash equivalents
At each fiscal year end, then the latest quarter end.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.$1.36B
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| Period | Cash and cash equivalents |
|---|---|
| FY2022, ended Dec 31, 2022 | $436M |
| FY2023, ended Dec 31, 2023 | $401M |
| FY2024, ended Dec 31, 2024 | $562M |
| FY2025, ended Dec 31, 2025 | $954M |
| Trailing 12 months to Sep 30, 2026 (through Q3 FY2026) | $1.36B |
Total debt
At each fiscal year end, then the latest quarter end. Short- and long-term borrowings, excluding leases.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.No figures for this period in the company’s filings.
Shares outstanding
At each fiscal year end, then the latest quarter end, adjusted for splits. Up 237% since 2022.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.193M
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| Period | Shares outstanding |
|---|---|
| FY2022, ended Dec 31, 2022 | 57.3M |
| FY2023, ended Dec 31, 2023 | 164M |
| FY2024, ended Dec 31, 2024 | 181M |
| FY2025, ended Dec 31, 2025 | 191M |
| Trailing 12 months to Sep 30, 2026 (through Q3 FY2026) | 193M |
Buybacks and new shares
By fiscal year, then the trailing 12 months, in dollars. Below zero: bought back. Above zero: issued to employees, sold or used in acquisitions.Figures shown are for the trailing 12 months to Sep 30, 2026. Hover or tap a column for another year.Net: $386M more issued than bought back
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| Period | Paid to employees | Used in acquisitions |
|---|---|---|
| FY2022, ended Dec 31, 2022 | $55.3M | $4.52M |
| FY2023, ended Dec 31, 2023 | $47.6M | — |
| FY2024, ended Dec 31, 2024 | $802M | $2.79M |
| FY2025, ended Dec 31, 2025 | $343M | — |
| Trailing 12 months to Sep 30, 2026 (through Q3 FY2026) | $386M | — |
Revenue (TTM)
$3.09B
+62.2% YoY
Net income (TTM)
$992M
+184% YoY
Cash
$1.36B
+48.9% YoY
Total debt
—
—
Valuation
At current price- Market Cap
- $17.7B
- P/E
- 17.9×
- Forward P/E
- —. Needs analyst estimates; not available from the current data provider
- Price / Sales
- 5.7×
- Price / Book
- 4.9×
- EV / EBITDA
- —. (Market cap + debt − cash) / EBITDA (TTM)
Growth
Trailing 12 months- Revenue (TTM)
- $3.09B
- Revenue Growth YoY
- 62.2%
- Revenue CAGR 3Y
- 48.9%
- Revenue CAGR 5Y
- —. Compound annual growth over the last 5 fiscal years
- EPS Growth YoY
- 126%
- Net Income Growth YoY
- 184%
Profitability
Trailing 12 months- Gross Margin
- 91.5%
- Operating Margin
- 29.4%
- Net Margin
- 32.1%
- FCF Margin
- 38.8%
- Return on Equity
- 32.0%
Earnings
Trailing 12 months- Net Income
- $992M
- EPS (diluted)
- $4.90
- EBITDA
- $925M
- Operating Income
- $908M
Balance Sheet
As of Sep 30, 2026- Cash and cash equivalents
- $1.36B
- Total Debt
- —. Short- and long-term borrowings, excluding leases
- Net Cash
- —. Cash − total debt
- Total Assets
- $3.96B
- Total Liabilities
- $380M
- Shareholders' Equity
- $3.58B
Cash Flow
Trailing 12 months- Operating Cash Flow
- $1.20B
- Capital Expenditure
- $6.62M
- Free Cash Flow
- $1.20B
Dividends and risk
Last 12 months- Dividend Yield
- 0.0%
- Dividend / Share
- $0.00
- Beta (5Y)
- 2.04
Every ratio is calculated from the company’s reported figures.
Strength
Revenue grew 62.2% over the last year, to $3.09B.
Strength
Operating margin widened 15.6 pts in a year, to 29.4%.
Strength
Turns 38.8% of revenue into free cash flow.
Written by fixed rules from the reported figures, not by a person or an AI.
Latest report
Pro10-Q for the quarter ended Sep 30, 2026 · filed Oct 30, 2026
The score and findings for the newest report are part of CoreStock Pro, coming soon. Every earlier report is free.
Score of each annual report
0 to 100 · 60 means nothing notable · tap a column for its details
2025 · 10-K72Good news
10-K for the fiscal year ended Dec 31, 2025
Filed Feb 6, 2026 · Read the filing on EDGAR
- Revenue rose 69% to $2.2 billion, driven mainly by more ads shown and, to a lesser extent, higher ad prices.
- Reddit swung to $529.7 million net income from a $484.3 million loss, helped by the absence of last year's IPO stock pay charge.
- Free cash flow more than tripled to $684.2 million, and cash and securities reached $2.5 billion.
- The board authorized a first share buyback of up to $1 billion in February 2026, while US daily user growth slowed to 9%.
Business momentum
Strong improvement
“Revenue was $2.2 billion for the year ended December 31, 2025, an increase of 69% year over year”
Outlook
Cautious
“We expect that these macroeconomic conditions may continue to impact revenue growth in the near term”
Financial stress
None
“Cash, cash equivalents, and marketable securities were $2.5 billion as of December 31, 2025”
Tone against the previous report
More positive
Red flags
None found in this report.
Positives
Rapid revenue growth from advertising
“The growth in revenue was due primarily to an increase in advertising revenue driven by an increase in impressions delivered and to a lesser extent, an increase in pricing.”
Swing to a sizable annual profit
“Net income (loss) was $529.7 million for the year ended December 31, 2025, as compared to $(484.3) million in the year ended December 31, 2024”
Free cash flow more than tripled
“Free Cash Flow was $684.2 million for the year ended December 31, 2025, as compared to $215.8 million in the year ended December 31, 2024”
Concerns
US daily user growth is much slower than overseas, where users earn less
“global DAUq grew 19% compared to the prior year period, driven by 9% growth in DAUq in the United States and 28% growth in DAUq in the rest of world”
Revenue relies even more heavily on advertising
“approximately 94% and 91% of our revenue was generated from third parties advertising on our platform, respectively”
Reddit will stop reporting logged-in user numbers, reducing what investors can see
“beginning in the quarter ended September 30, 2026, we will no longer report logged-in and logged-out DAUq”
New risks since the previous report
Content licensing revenue depends on two partners
“to date, substantially all of the contract value associated with our licensing revenue is derived from two of our partners, and these arrangements may not be renewed”
Machine translation user growth may fade
“the growth derived from this strategy may slow as we complete the roll out of machine translation to all major global languages”
Cloud provider outages can take Reddit offline
“a widespread Amazon Web Services outage on October 20, 2025, caused significant interruptions that rendered our platform temporarily inaccessible to users”
Costly lawsuits against companies using Reddit content without a license
“While we have commenced litigation and will continue to vigorously enforce against such entities, such enforcement activities could take years to resolve, result in substantial expense”
AI development needs scarce computing resources
“These development efforts may require significant investments in talent and infrastructure, including access to specialized resources such as graphical processing units.”
Biggest risks named
- Failure to grow users or keep them engaged
- Search engine changes and AI tools reducing website traffic
- Heavy reliance on advertising revenue
- Content licensing deals concentrated in two partners
- Founders and major holders controlling shareholder votes
Artificial intelligence in this business: Material to the business
How the score adds up
| Starting point | 60 | |
| Business momentum | +12 | |
| Outlook | −2 | |
| Tone against the previous report | +2 | |
| Financial stress | +2 | |
| Red flags | 0 | |
| New risks | −2 | |
| Score | 72 | |
Written by AI (Claude Opus 5.5) from the report’s text. 14 of 14 quotes were found word for word in the filing; the rest are left out. Not investment advice.
All scored reports
| Period | Report | Filed | Score | Momentum | Red flags |
|---|---|---|---|---|---|
| 10-Q | Oct 30, 2026 | Pro | |||
| 10-K | Feb 6, 2026 | 72 | Strong improvement | None | |
| 10-K | Feb 13, 2025 | 45 | Sharp deterioration | None |
How these scores work
An AI model reads the management discussion, risk factors and legal sections of each report and records what they say, quoting the filing word for word. Fixed rules then turn those findings into a score from 0 to 100, where 60 means nothing notable either way. A score describes the report, not whether the stock is a good investment, and the AI may know how things turned out later, which can colour older scores. Read the methodology
From the 10-Q for Q3 FY2026 (period ended Sep 30, 2026), filed Oct 30, 2026. View filings on SEC EDGAR