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Sentiment · FY2026 Q2
| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|
| FY2024 Q4 | $428M | +71.3% | $0.39 | +254.5% | 12.4% | 16.6% | $89M |
| FY2025 Q1 | $392M | +61.5% | $0.13 | +103.7% | 1.0% | 6.7% | $127M |
| FY2025 Q2 | $500M | +77.7% | $0.45 | +837.7% | 13.6% | 17.9% | $111M |
| FY2025 Q3 | $585M | +67.9% | $0.80 | +370.6% | 23.7% | 27.8% | $183M |
| FY2025 Q4 | $726M | +69.7% | $1.24 | +217.9% | 31.9% | 34.7% | $264M |
| FY2026 Q1 | $663M | +69.1% | $1.01 | +676.9% | 27.6% | 30.7% | $311M |
| FY2026 Q2 | $805M | +61.1% | $1.25 | +177.8% | 28.8% | 31.4% | $261M |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Ron Josey | Citigroup | 11 (0%) |
| Benjamin Black | Deutsche Bank | 10 (0%) |
| Rich Greenfield | LightShed Partners | 10 (30%) |
| Tom Champion | Piper Sandler | 7 (0%) |
| Andrew Boone | Citizens JMP Securities | 6 (0%) |
| Justin Post | Bank of America | 6 (0%) |
| Jason Helfstein | Oppenheimer | 6 (0%) |
| John Colantuoni | Jefferies | 6 (0%) |
| Josh Beck | Raymond James | 5 (0%) |
| Brian Nowak | Morgan Stanley | 3 (0%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Citigroup | 1 | 11 (0%) |
| LightShed Partners | 1 | 10 (30%) |
| Deutsche Bank | 1 | 10 (0%) |
| Piper Sandler | 1 |
| 7 (0%) |
| Oppenheimer | 1 | 6 (0%) |
| Citizens JMP Securities | 1 | 6 (0%) |
| Bank of America | 1 | 6 (0%) |
| Jefferies | 1 | 6 (0%) |
Reddit opened 2026 with first-quarter revenue up 69% year-over-year to $663 million, its seventh consecutive quarter of 60%-plus growth, and GAAP EPS of $1.01, up more than 7x from a year earlier. Free cash flow margin reached 47% on record cash flow above $300 million, and the adjusted EBITDA margin held at 40%, even though Q1 is seasonally the slowest quarter. Advertising revenue grew 74% to $625 million as lower-funnel revenue rose triple digits and active advertisers expanded over 75%, aided by strong Reddit Max adoption and a new Shopify integration. Management set an explicit goal of growing U.S. daily users to 100 million from about 50 million, acknowledging that prior ways of working had not delivered aspired user growth and pointing to new product leadership, ML talent and infrastructure changes. Reddit guided second-quarter revenue to $715 million to $725 million, or 43% to 45% growth, a deceleration driven by lapping the exceptionally strong 78% growth of Q2 2025.
Subscriber Growth | Product Launch | Cloud & AI | Competitive Dynamics | Demand | Revenue Growth | Geographic Expansion | Capex Investment | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 3 | 3 | 4 | 3 | 1 | 2 | 1 | |
| 2025Q1 | 4 | 5 | 1 | 3 | 4 | 1 | 1 | |
| 2025Q2 | 3 | 4 | 4 | 6 | 3 | 2 | 1 | |
| 2025Q3 | 5 | 6 | 4 | 2 | 2 | 4 | 1 | |
| 2025Q4 | 2 | 4 | 3 | 3 | 6 | 4 | 1 | |
| 2026Q1 | 9 | 3 | 4 | 2 | 1 | 1 | 1 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Subscriber Growth | 3 | 4 | 3 | 5 | 2 | 9 |
| Product Launch | 3 | 5 | 4 | 6 | 4 | 3 |
| Cloud & AI | 4 | 1 | 4 | 4 | 3 | 4 |
| Competitive Dynamics | 3 | 3 | 6 | 2 | 3 | 2 |
| Demand | 1 | 4 | 3 | 2 | 6 | 1 |
| Revenue Growth | 2 | 1 | 4 | 4 | 1 | |
| Geographic Expansion | 1 | 2 | 1 | |||
| Capex Investment | 1 | 1 | 1 | 1 |
What RDDT and other companies said about each other on FY2026 Q1 earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“Yelp content appears relatively limited versus sources like Reddit, OpenTable, Tripadvisor.”
An analyst noted Yelp content surfaces less prominently than Reddit in ChatGPT local results today, a read-through on Reddit's strong AI-search content visibility.
“we announced an integration with Shopify, that strengthens our retail and e-commerce partnership ecosystem.”
Reddit integrated with Shopify to expand lower-funnel ad reach among mid-market and SMB merchants, channeling Shopify merchants into Reddit advertising.
“We have important partnerships with both Google and OpenAI. Those are very meaningful to us.”
OpenAI remains an important, meaningful AI partner for Reddit, reinforcing OpenAI's reliance on Reddit's human-conversation data.
“Google algorithm change, these things are business as usual for us. There are always puts and takes.”
Reddit characterized an April Google algorithm change as routine, reflecting continued dependence on Google search referrals with periodic volatility.
“We have important partnerships with both Google and OpenAI. Those are very meaningful to us.”
Reddit reaffirmed that its partnerships with Google (search plus AI) are very meaningful, reflecting a mutual top-of-funnel and data exchange with Alphabet.
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
RDDT Reddit, Inc. | 9 | +69.1% | |
| DASH DoorDash | 7 | +33.1% | |
| EVER EverQuote, Inc. | 8 | +14.5% | |
| GOOGL Alphabet Inc. | 9 | +21.8% | |
| MAX MediaAlpha, Inc. | 8 | +17.3% | |
| META Meta Platforms, Inc. | 8 | +33.1% | |
| NBIS Nebius Group N.V. | 8 | +621.5% | |
| PINS Pinterest, Inc. | 8 | +17.8% | |
| SNAP Snap Inc. | 7 | +12.2% | |
| YELP Yelp Inc. | 6 | +0.8% |