Reddit, Inc. (RDDT) Reports Q1 Net Loss of $575.1M, EBITDA of $10M, Offers Guidance

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Go back to Reddit, Inc. (RDDT) Reports Q1 Net Loss of $575.1M, EBITDA of $10M, Offers Guidance

Reddit Announces First Quarter 2024 Results

May 7, 2024 4:07 PM EDT

Record user traffic, Daily Active Uniques (DAUq) increased 37% to 82.7 million

Revenue increased 48% to $243.0 million, nearly doubling growth rate from prior quarter

Net loss driven by IPO expenses, first profitable Q1 on an Adjusted EBITDA basis

Operating cash flow of $32.1 million and positive free cash flow of $29.2 million

SAN FRANCISCO--(BUSINESS WIRE)-- Reddit, Inc. (NYSE: RDDT) today announced financial results for the quarter ended March 31, 2024. Reddits complete financial results and management commentary can be found... More