Q2 2026 Reddit Inc Earnings Call Transcript

Jul 30, 2026 / 08:30 PM GMT

Release Date Price: €10.3 (+1.98%)

Transcript 10-Q8-K

Key Points

Positve

Reddit Inc (RDDT) delivered its eighth consecutive quarter of over 60% revenue growth, with total revenue up 61% year-over-year to $805 million.
Adjusted EBITDA margin reached 43%, and the company crossed a major milestone of $1 million revenue per employee.
Advertising revenue grew 64% year-over-year, driven by strong adoption of Reddit Max, which saw over 60% growth in advertiser count and 50% revenue growth quarter-over-quarter.
New app user retention improved 50% year-over-year, indicating better product quality and user engagement.
Operating cash flow doubled year-over-year to $262 million, and the company crossed $1 billion in operating cash flow on a trailing twelve-month basis.
The company repurchased $235 million worth of stock, demonstrating confidence in its long-term growth and capital allocation strategy.

Negative

Search referral traffic was choppy and volatile, particularly later in the quarter, creating headwinds for user growth.
US daily active users declined sequentially, raising concerns about user growth despite product investments.
Paid marketing spend showed mixed results, with user acquisition spending needing stronger attention to improve returns.
The company faces uncertainty in data licensing renewals with partners like Google and OpenAI, with no clear timeline for resolution.
The company will stop reporting logged-in and logged-out user metrics starting Q3 2026, reducing transparency for investors.
Stock-based compensation is expected to elevate in Q3, potentially impacting profitability.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

RDDT.N - Reddit Inc
Q2 2026 Reddit Inc Earnings Call
Jul 30, 2026 / 08:30PM GMT

=====================
Presentation
--------------------------------------------------------------------------------
Unidentified_1 [1]
--------------------------------------------------------------------------------
I would now like to turn the call over to Jessie Rose, head of the conference.

Julian, hi everyone.

Welcome to 2026 earnings call.

Joining me are Steve Huffman, Reddit co-founder and CEO Jen Wong, Reddit COO, and Drupalero, Reddit CFO.

I'd like to remind you that our remarks today will include forward-looking statements, vary, and information concerning risks and other factors that could cause these results to vary is included in our SEC filings.s represent our outlook only as of the date of this we undertake no obligation.

Any forward-looking statements he filed during this call, we will discuss both GAAP and non-GAAP Financial reconciliation of GAAP to non gaps can be found in our letter to shareholders.

Already have an account? Log in

Get the full story

Subscribe Now

	Access to All Earning Calls and Stock Analysis
	30-Year Financial on one screen
	All-in-one Stock Screener with unlimited filters
	Customizable Stock Dashboard
	Real Time Insider Trading Transactions
	8,000+ Institutional investors’ 13F holdings
	Powerful Excel Add-in and Google sheets Add-on
	All data downloadable
	Quick customer support
	And much more...

7-Day Free Trial · Cancel Anytime

Subscription fee may be tax deductible.

Excellent

4.6 out of 5

Trustpilot

Research Tools

All-In-One Screener Stock Ideas Stock List Guru List Guru Real-Time Picks Insider List Insider Trades Economic Indicators Sector & Industry Performance DCF Calculator Calculators Discussion Board

Product

Pricing Plans Excel Add-In Google Sheets Add-on Data API Stock Comparison Table Manual of Stocks Instant Alerts Mobile App Newsletters Signup 中文

Education

Financial Glossary Tutorials FAQ Buffett Indicator Shiller P/E Yield Curve Today U.S. Inflation Rate Global Market Valuation Fed Net Liquidity Buffett Assets Allocation

Company

About GuruFocus Career Contact Us Advertise Term of Use Privacy Policy Referral Program Partner Program

Survey

We'd love to learn more about your experiences on GuruFocus.com and how we can improve!

Take Survey

Disclaimers

GuruFocus.com is not operated by a broker or a dealer. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The individuals or entities selected as "gurus" may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. Gurus may be added or dropped from the GuruFocus site at any time. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes are provided by QuoteMedia, Inc. (CSI). Company fundamental data is provided by Morningstar. Analyst estimates data is sourced from both Refinitiv and Morningstar, with priority given to Refinitiv data. Data is updated daily.