Organizes user-run communities and monetizes their conversations primarily through advertising.
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Profile
Organizes posts and conversations into user-run communities, with voting and volunteer moderation shaping what people see. Advertising provides most revenue, while content licensing and direct-to-user products supplement a business that depends on participation, advertiser demand, and search-driven discovery.
Organizes user-created posts and conversations into topic communities where voting shapes visibility and volunteer moderators enforce local rules. Mobile applications and the website support discussion, media sharing, search, and discovery across more than 100,000 communities.
Monetizes this audience mainly through advertising placed around conversations, supplemented by content licensing and direct-to-user products. Search, Reddit Answers, machine translation, and advertising automation extend the usefulness and reach of the discussion corpus, while international expansion depends on building localized content and communities.
Operates as a single reportable segment with a business model rooted in user participation and advertiser demand. Traffic also depends partly on search-engine distribution, while platform policy must balance user safety, community autonomy, advertiser suitability, and changing regulation.
Company facts
Categories
Key statistics
Year to date −36.8% · Average volume (30d) 7.4M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Rating | Prior target | Target |
|---|---|---|---|---|---|
| Aug 21, 2026 | Morgan Stanley | Reiterate | Overweight | $240 | $210 |
| Aug 17, 2026 | Raymond James | Reiterate | Strong Buy | $180 | $205 |
| Aug 2, 2026 | Roth Capital | Reiterate | Neutral | $215 | $145 |
| Jul 31, 2026 | Deutsche Bank | Target | $285 | $200 | |
| Jul 31, 2026 | Piper Sandler | Reiterate | Overweight | $215 | $195 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 30, 2026Q2 FY26 | $0.95 | $1.25 | +31.7% | $731.0M | $804.9M | +10.1% | −20.99% |
| Apr 30, 2026Q1 FY26 | $0.57 | $1.01 | +77.5% | $607.7M | $663.0M | +9.1% | +13.07% |
| Feb 5, 2026Q4 FY25 | $0.94 | $1.24 | +32.3% | $665.9M | $725.6M | +9.0% | −7.43% |
| Oct 30, 2025Q3 FY25 | $1.04 | $0.80 | −23.1% | $546.7M | $584.9M | +7.0% | +7.47% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $392.4M | $499.6M | $584.9M | $725.6M | $663.4M | $804.9M | |
| Gross profit | $355.3M | $453.7M | $532.4M | $666.9M | $607.1M | $734.6M | |
| Operating income | $3.9M | $67.7M | $138.5M | $231.8M | $182.9M | $231.7M | |
| Net income | $26.2M | $89.3M | $162.7M | $251.6M | $204.0M | $252.8M | |
| Diluted EPS | $0.14 | $0.48 | $0.80 | $1.24 | $1.01 | $1.25 | |
| Gross margin | 90.5% | 90.8% | 91.0% | 91.9% | 91.5% | 91.3% | |
| Operating margin | 1.0% | 13.6% | 23.7% | 31.9% | 27.6% | 28.8% |
Fiscal years (4-quarter sums)FY21 $484.9M · FY22 $666.7M · FY23 $804.0M · FY24 $1.30B · FY25 $2.20B
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $2.79B · Total debt $20.9M · Total assets $3.64B · Shareholders' equity $3.29B
Dividends
No dividends on record.
Ownership
Shares outstanding 192.51M · Float 170.06M · 88.3% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Steven Huffman | 51.43M | 27.20% | 13D | Nov 3, 2025 |
| Steve Ladd Huffman | 48.14M | 24.80% | 13D | May 6, 2026 |
| Advance Publications, Inc. | 42.21M | 26.10% | 13G | Nov 14, 2024 |
| Tencent Holdings Ltd | 12.41M | 9.98% | 13G | Feb 10, 2025 |
| BlackRock, Inc. | 8.00M | 4.16% | 13F | Aug 7, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 25, 2026 | Robert A. Sauerberg | director | −5,128 | $159.92 |
| Aug 14, 2026 | Jennifer L. Wong | officer: Chief Operating Officer | −75,000 | $178.55 |
| Aug 14, 2026 | Steve Ladd Huffman | director, 10 percent owner, officer: CEO & President | −18,000 | $178.16 |
| Aug 4, 2026 | Steve Ladd Huffman | director, 10 percent owner, officer: CEO & President | −18,000 | $159.78 |
| Jul 15, 2026 | Steve Ladd Huffman | director, 10 percent owner, officer: CEO & President | −18,000 | $197.86 |
Peers
- Meta
Broad rival in communities, user attention, and digital advertising
- Alphabet Class A
Rival across search, video attention, AI answers, and digital ads
- Snap
Rival for mobile attention and social advertising budgets
- Pinterest
Rival in interest discovery, visual search, and performance advertising
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| $153.35 | +0.28% | $29.44B | 35.6 | 25.0 | 10.6 | +61.1% | |
| Meta | $578.36 | +0.06% | $1.47T | 21.8 | 19.0 | 6.5 | +28.0% |
| Alphabet Class A | $346.00 | −0.14% | $4.19T | 17.4 | 25.8 | 9.4 | +24.2% |
| Snap | $5.44 | −0.18% | $9.17B | — | 22.5 | 1.4 | +18.9% |
| $22.80 | −1.70% | $14.76B | 68.2 | 10.8 | 3.2 | +18.2% | |
| Median | 21.8 | 20.7 | 4.8 | +21.6% |