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.
Net new backlog added in the latest quarter: -$29.7M.
The company reports 51% of the backlog due within the first 3 months.
Customer prepayments (contract liabilities) cover 62.2% of the backlog.
Twelve-month book-to-bill: 0.96, i.e. 0.96 of new orders for every 1 of revenue recognised.
Backlog growth minus revenue growth: -126 points — revenue is catching up with orders.
By backlog size it ranks 453rd among US filers the cockpit tracks.
Reddit backlog history
Remaining performance obligations at each quarter end (bars) against trailing twelve-month revenue (line).
Amounts in USD. Source: SEC XBRL filings.
Quarter end
Backlog (RPO)
TTM revenue
Coverage
Customer prepayments
30 Sep 2026
$62.4M
$3.09B
0.0 yrs
$38.8M
30 Jun 2026
$92.1M
$2.78B
0.0 yrs
$38.6M
31 Mar 2026
$121M
$2.47B
0.0 yrs
$28.3M
31 Dec 2025
$144M
$2.20B
0.1 yrs
$18.1M
30 Sep 2025
$173M
$1.90B
0.1 yrs
$20.4M
30 Jun 2025
$195M
$1.67B
0.1 yrs
$18.9M
31 Mar 2025
$224M
$1.45B
0.2 yrs
$20.8M
31 Dec 2024
$253M
$1.30B
0.2 yrs
$14.9M
30 Sep 2024
$295M
$1.12B
0.3 yrs
$13.0M
30 Jun 2024
$320M
$981M
0.3 yrs
$9.70M
31 Mar 2024
$188M
$883M
0.2 yrs
$8.50M
Questions
What is Reddit's backlog?
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.
About these numbers
Remaining performance obligations (RPO) are revenue a company has contracted but not yet recognised, as reported in its SEC filings (XBRL tag RevenueRemainingPerformanceObligation). Coverage = backlog ÷ trailing twelve-month revenue. Book-to-bill = (change in backlog + revenue) ÷ revenue. Conversion = revenue recognised ÷ the backlog at the start of each quarter, summed over four quarters. Counterparty values come from company filings and releases.