Opening the filing
8-K
Reddit uses the investor relations page on its website https://investor.redditinc.com, as well as the subreddits r/RDDT and r/reddit, available at https://www.reddit.com/r/RDDT/ and https://www.reddit.com/r/reddit/, respectively, as means of disclosing material non-public information and for complying with its disclosure obligation under Regulation FD.
Item 8.01 Other Events.
On February 5, 2026, Reddit announced its Board of Directors authorized a share repurchase program to purchase up to $1 billion of Reddit's Class A common stock (the “Share Repurchase Program”). Under the Share Repurchase Program, Reddit may repurchase shares of Class A common stock from time to time on the open market (including via pre-set trading plans), in privately negotiated transactions, or through other transactions in accordance with applicable securities laws. The Share Repurchase Program does not obligate Reddit to acquire any particular amount of Class A common stock, has no expiration date, and may be suspended or discontinued at any time at our discretion. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) The following exhibits are being filed herewith:
Exhibit 99.1
EX-99.1 earningspressreleaseq425.htm EX-99.1
Document Exhibit 99.1 Reddit Reports Fourth Quarter and Full Year 2025 Results;
Announces $1 Billion Share Repurchase Program Daily Active Uniques (“DAUq”) increased 19% year-over-year to 121.4 million Q4 Revenue grew 70% year-over-year to $726 million. 2025 Revenue grew 69% to $2.2 billion Q4 Net Income $252 million, 35% of revenue. 2025 Net Income $530 million, 24% of revenue Q4 Adj. EBITDA 1 $327 million, 45% of revenue. 2025 Adj. EBITDA 1 $845 million, 38% of revenue Reddit’s Board of Directors authorized repurchase program of up to $1 billion of Class A common stock SAN FRANCISCO, Calif. – February 5, 2026 – Reddit, Inc. (NYSE: RDDT) today announced financial results for the quarter and full year ended December 31, 2025. 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.
“We’re entering the next era of Reddit—defined by sharper execution, global expansion, and product innovation that puts real people and conversations at the center,” said Steve Huffman, Reddit Co-Founder and CEO. “Our focus is on turning Reddit’s authenticity into even more everyday utility.”
Fourth quarter 2025
• Total revenue increased 70% year-over-year to $726 million, Ad revenue increased 75% year-over-year to $690 million, and Other revenue increased 8% year-over-year to $36 million
• Gross margin was 91.9%, as compared to 92.6% in the prior year
• Net income was $252 million, an improvement of $181 million from the prior year
• Adjusted EBITDA 1 was $327 million, an improvement of $173 million from the prior year
• Operating cash flow was $267 million, an improvement of $177 million from the prior year
• Total fully diluted shares outstanding were 206.1 million as of December 31, 2025, consistent with the prior quarter and down from 206.2 million as of December 31, 2024
Full year 2025
• Total revenue increased 69% year-over-year to $2.2 billion, Ad revenue increased 74% year-over-year to $2.1 billion, and Other revenue increased 22% year-over-year to $140 million
• Gross margin was 91.2%, an improvement of 70 basis points from the prior year
• Net income was $530 million, an improvement of $1,014 million from the prior year
• Adjusted EBITDA 1 was $845 million, an improvement of $547 million from the prior year
• Operating cash flow was $691 million, an improvement of $469 million from the prior year
• Free Cash Flow 1 was $684 million, an improvement of $468 million from the prior year
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 first quarter.
In the first quarter of 2026, we estimate:
• Revenue in the range of $595 million to $605 million
• Adjusted EBITDA 2 in the range of $210 million to $220 million
Earnings Conference Call Information and Community Update Reddit will host a conference call to discuss the results for the fourth quarter and full year of 2025 on Thursday, February 5, 2026, at 1:30 p.m. PT / 4:30 p.m. ET. A live webcast of the call can be accessed on Reddit’s Investor Relations website at https://investor.redditinc.com and investor relations subreddit, r/RDDT, at https://www.reddit.com/r/RDDT/. A replay of the webcast and transcript will be available on the same websites following the conclusion of the conference call.
Reddit will solicit questions from the community in the investor relations subreddit, r/RDDT, at https://www.reddit.com/r/RDDT/ on Thursday, February 5, 2026, after the market closes, and post responses following the earnings call at Reddit’s Investor Relations website at https://investor.redditinc.com and r/RDDT at https://www.reddit.com/r/RDDT/.
Reddit uses the investor relations page on its website https://investor.redditinc.com, as well as the subreddits r/RDDT and r/reddit, available at https://www.reddit.com/r/RDDT/ and https://www.reddit.com/r/reddit/, respectively, as means of disclosing material non-public information and for complying with its disclosure obligation under Regulation FD.
Share Repurchase Program Reddit also announced today that its Board of Directors authorized a share repurchase program to purchase up to $1 billion of our Class A common stock (the “Share Repurchase Program”). Under the Share Repurchase Program, we may repurchase shares of our Class A common stock from time to time on the open market (including via pre-set trading plans), in privately negotiated transactions, or through other transactions in accordance with applicable securities laws. The Share Repurchase Program does not obligate us to acquire any particular amount of Class A common stock, has no expiration date, and may be suspended or discontinued at any time at our discretion.
Notes 1 The 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 11 - 12 .
2 We 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.