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Social media platform organized around topic-based communities, monetized via advertising and data licensing.
Social media platform organized around topic-based communities, monetized via advertising and data licensing.
Sells advertising next to conversations, with data licensing a smaller second line. It relies heavily on search-engine traffic from visitors who arrive via Google without signing in, so changes in search results matter. Licensing deals with Google and OpenAI let them use its posts for AI training. Listed in 2024.
Moat: narrow (network effects, data, brand). Two decades of user-generated discussion data is a unique corpus increasingly valuable for AI training.
Headquarters: San Francisco, California, US · Founded: 2005 · Employees: 2,555
Size Reddit (RDDT) is a United States Communication Services company (Internet Software/Services) with a market value of $18.4B, the 519th largest of 3,117 United States companies the cockpit tracks. Shares closed at $95.10 on 6 Nov 2026.
Performance Over six months the shares fell 39.0%, against +2.0% for the median peer and -1.1% for the United States market (cap-weighted) — 2nd lowest of 7 in its peer set.
Growth Revenue grew 62.2% over the last twelve months (peer median +13.7%); the operating margin is 29.4% (peer median 19.2%).
Valuation It trades at 15.0× forward earnings against a peer median of 14.1× (3rd most expensive of 7).
Price implies For today's price to make sense, revenue must grow about 18% a year for seven years (Req g). Recent delivered growth is +57%, so the hurdle is -39 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 107.5 points above its cost of capital (16.2% WACC).
Backlog Backlog (remaining performance obligations) was $62.4M at 30 Sep 2026, down 64% on a year earlier — 0.0 years of trailing revenue. Backlog detail →
Short interest Short interest is 14.8% of the free float (15 Oct 2026).
Next results Next results expected around 17 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $3.09B | $2.20B | $1.30B | $804M | $667M |
| Revenue growth | — | +69% | +62% | +21% | — |
| Gross profit | $2.81B | $1.99B | $1.16B | $679M | $555M |
| EBITDA | $925M | $458M | -$545M | -$126M | -$164M |
| Net income | $992M | $530M | -$484M | -$90.8M | -$159M |
| Free cash flow | $1.20B | $684M | $216M | -$84.8M | -$100M |
| Capital expenditure | $6.62M | $6.71M | $6.25M | $9.72M | $6.23M |
| Total debt | $31.4M | $23.2M | $26.7M | $25.7M | $19.5M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Reddit RDDT | $18.4B | -39% | +62% | 29% | 15.0× | 18.0% |
| Meta Platforms META | $1.56T | 0% | +28% | 33% | 19.0× | 16.6% |
| Pinterest PINS | $10.9B | -11% | +15% | 6% | 8.8× | 16.2% |
| Snap SNAP | $8.39B | -18% | +13% | -5% | 32.3× | 2.7% |
| Alphabet Inc. (Class A) GOOGL | $3.47T | -29% | +22% | 33% | 20.5× | 18.5% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | RDDT | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -39.2% | +1.7% | lowest of 7 |
| 6-month return | -39.0% | +2.0% | 2nd lowest of 7 |
| Distance from 52-week high | -63.9% | -33.5% | lowest of 7 |
| Revenue growth (TTM) | +62.2% | +13.7% | highest of 7 |
| Operating margin | 29.4% | 19.2% | 2nd highest of 7 |
| Forward P/E | 15.0× | 14.1× | 3rd most expensive of 7 |
| Growth the price implies (Req g, 7 yrs) | 18.0% | 1.8% | 2nd most demanding of 6 |
| Growth delivered (Del g) | +57.3% | +10.1% | highest of 6 |
| Hurdle (Req g minus delivered) | -39.3 pp | -3.8 pp | least demanding of 6 |
| ROIC minus cost of capital | +107.5 pp | -0.7 pp | highest of 7 |
| EV / EBITDA | 16.6× | 10.1× | 3rd most expensive of 7 |
| Net debt / EBITDA | -3.2× | -1.1× | 3rd least indebted of 7 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Reddit RDDT | United States | $18.4B | -39% | +62% | 29% | 15.0× | 18.0% | +57.3% |
| Tencent Music Entertainment 1698.HK | Hong Kong | $13.9B | -2% | +16% | 29% | 11.0× | 0.6% | +1.7% |
| Nexon 3659.T | Japan | $13.8B | +10% | +15% | 26% | 22.4× | -9.1% | +10.1% |
| Bidu-sw 9888.HK | Hong Kong | $26.4B | -43% | -1% | 7% | 14.5× | n/a | n/a |
| Liberty Media FWONA | United States | $27.3B | +18% | +12% | 12% | 51.0× | 29.0% | +31.4% |
| Pinterest PINS | United States | $10.9B | -11% | +15% | 6% | 8.8× | 16.2% | +20.1% |
| Match MTCH | United States | $8.88B | +6% | 0% | 30% | 13.6× | 1.8% | +7.8% |
Reddit reported $62.4M of remaining performance obligations at 30 Sep 2026, down 64% from a year earlier and down 32% from the previous quarter. That is 0.0 years of trailing revenue already under contract. Book-to-bill last quarter: 0.97.