u/Extolord111

Mod World’s most anticipated live AMA with u/spez is back. This is your time to ask Reddit’s CEO pretty much anything: burning questions, hot takes, literally anything you’re curious about.

Here’s how it’ll work:

1. Submit your question(s) in the comments below (one question per comment so topic voting stays clear!)
2. Upvote the questions you want answered most
3. The top-upvoted questions will be answered live by u/spez at Mod World 2026
4. Make sure to vote by October 21st, 2026 at 5:00 pm PST

⭐ If you haven’t already, SIGN UP for Mod World so you don’t miss the live AMA. 

Drop your questions ASAP! Submitting early gives your questions more visibility and a better shot at getting answered.

Note: This AMA is separate from the Mod State of the Union.

Hi redditors, 

We announced Reddit’s Q2’26 Earnings results. During our conference call at 4:30pm ET today, we’ll discuss these results and answer questions submitted by analysts and redditors. 

How can I participate in today’s conference call?  
Listen to the live webcast here. 

How can I submit a question?
Please share your questions about Reddit’s earnings results in the comments below. Reddit’s CEO, Steve Huffman (u/spez); COO, Jen Wong (u/adsjunkie); and CFO, Drew Vollero (u/TimingandLuck) will answer a couple during the Q&A portion of today’s conference call and a few more in the comments below later today. 

General guidelines: 

• Comments will be ON until 8:00pm ET today 
• Questions must abide by community rules

https://reddit.com/link/1vb4oe8/video/te280sqk3fgh1/player

Reddit Reports Second Quarter 2026 Results

• Daily Active Uniques (“DAUq”) increased 18% year-over-year to 130.3 million
• Revenue of $805 million grew 61% year-over-year. 8th consecutive quarter over 60%
• Net income of $253 million, 31% of revenue, and Diluted EPS of $1.25, both up over 2x year-over-year
• Adj. EBITDA 1 of $343 million, 43% of revenue, up 106% year-over-year
• Operating cash flow of $262 million, 33% of revenue, up 135% year-over-year

SAN FRANCISCO, Calif. – July 30, 2026 – Reddit, Inc. (NYSE: RDDT) today announced financial results for the quarter ended June 30, 2026. Reddit’s complete financial results and management commentary can be found in its shareholder letter on Reddit’s Investor Relations website at https://investor.redditinc.com.

>“In an increasingly automated web, the value of real human perspective has never been higher. Reddit’s commercial momentum reflects that,” said Steve Huffman, Founder and CEO of Reddit. “Crossing $1 million in revenue per employee and maintaining eight consecutive quarters of over 60% revenue growth shows the strength of our community model and the value we deliver to advertisers."

• Total revenue increased 61% year-over-year to $805 million, Ad revenue increased 64% year-over-year to $762 million, and Other revenue increased 24% year-over-year to $43 million
• Gross margin was 91.3%, as compared to 90.8% in the prior year, up 50 bps year-over-year
• Net income was $253 million, an improvement of $164 million from the prior year and more than doubling year-over-year
• Adjusted EBITDA 1 was $343 million, an improvement of $176 million from the prior year and more than doubling year-over-year
• Operating cash flow was $262 million, an improvement of $151 million from the prior year and more than doubling year-over-year
• Free Cash Flow 1 was $261 million, an improvement of $150 million from the prior year and more than doubling year-over-year\
• Basic and diluted earnings per share (“EPS”) were $1.31 and $1.25, more than doubling year-over-year
• Total fully diluted shares outstanding were 207.0 million as of June 30, 2026, up 0.2% from the prior year
• We repurchased 1.5 million shares of our Class A common stock during the quarter for a total of $235 million at an average price per share of $157.57

https://preview.redd.it/h39y33nr3fgh1.png?width=755&format=png&auto=webp&s=321b64ec5769f17dcd6cb11ad0193cad0585dde7

Financial Outlook

The guidance provided below is based on Reddit’s current estimates and is not a guarantee of future performance. This guidance is subject to significant risks and uncertainties that could cause actual results to differ materially, including the risk factors discussed in Reddit’s reports on file with the Securities and Exchange Commission (the “SEC”). Reddit undertakes no duty to update any forward-looking statements or estimates, except as required by applicable law.

As we look ahead, we will share our internal thoughts on revenue and Adjusted EBITDA for the third quarter. In the third quarter of 2026, we estimate:

• Revenue in the range of $860 million to $870 million
• Adjusted EBITDA 2 in the range of $385 million to $395 million

Notes

¹The definitions of Adjusted EBITDA, Adjusted EBITDA margin, and Free Cash Flow can be found in the Use of Non-GAAP Financial Measures section of this release. A reconciliation of non-GAAP financial measures to the most directly comparable U.S. GAAP measure can be found on pages 10-11 of our press release.

²We have not provided a reconciliation to the forward-looking U.S. GAAP equivalent measures for our non-GAAP guidance due to uncertainty regarding, and the potential variability of, reconciling items. Therefore, a reconciliation of these non-GAAP guidance measures to their corresponding U.S. GAAP guidance measures is not available without unreasonable effort.

Forward-Looking Statements

This communication contains forward-looking statements within the meaning of the Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events or Reddit's future financial or operating performance. In some cases, you can identify forward-looking statements because they contain words such as "may," "will," "should," "expects," "plans," "anticipates," "going to," "could," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of these words or other similar terms or expressions that concern Reddit's expectations, strategy, priorities, plans or intentions. Forward-looking statements in this communication include, but are not limited to, statements regarding Reddit’s future financial and operating performance, and GAAP and non-GAAP guidance. Reddit's expectations and beliefs regarding these matters may not materialize, and actual results in future periods are subject to risks and uncertainties that could cause actual results to differ materially from those projected, including those more fully described under the caption “Risk Factors” and elsewhere in documents that Reddit files with the SEC from time to time, including Reddit’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2026, which is being filed with the SEC at or around the date hereof. The forward-looking statements in this communication are based on information available to Reddit as of the date hereof, and Reddit undertakes no obligation to update any forward-looking statements, except as required by law.