Reddit's Q2 Earning Report:

👉 Business Highlights:

➡️ Daily Active Uniques (DAUq) increased 51% YoY to 91.2 million.

➡️ Weekly Active Uniques (WAUq) surged 57% YoY to 342.3 million.

➡️ Ad revenue rose 41% YoY to $253.1 million.

➡️ Other revenue increased 691% YoY to $28.1 million.

➡️ Gross margin improved to 89.5%, up 530 basis points from prior year.

👉 Financial Metrics:

➡️ Revenue: $281.2 million, up 54% YoY.

➡️ Net Loss: $10.1 million, compared to $41.1 million last year.

➡️ Adjusted EBITDA: $39.5 million, up from $(35.4) million last year.

➡️ Operating Cash Flow: $28.4 million, improved by $82.5 million from last year.

➡️ Free Cash Flow: $27.2 million, up by $82.1 million from last year.

👉 Business Segments:

➡️ U.S. Revenue: $228.1 million, up 55% YoY.

➡️ International Revenue: $53.1 million, up 49% YoY.

👉 CEO Statement:

“We had a strong quarter across the board and more people are visiting Reddit than ever before,” said Steve Huffman, Co-Founder and CEO of Reddit. “Our work to improve the platform is driving results and we are well positioned to continue to grow and deliver on our long term mission.”