RDDT Q2 2026 Earnings

Call Details

• Call Title: Reddit Q2 2026 Earnings Call
• Date: July 30, 2026 at 8:30 PM UTC
• Management Team:
  • Jesse Rose (Head of Investor Relations)
  • Steve Huffman (Chief Executive Officer)
  • Jen Wong (Chief Operating Officer)
  • Drew Valero (Chief Financial Officer)

Call Summary

Financial Performance

• Total revenue for Q2 2026 was $805 million, which grew 61% year-over-year.
• Advertising revenue for Q2 2026 was $762 million, which grew 64% year-over-year.
• Other revenue for Q2 2026 was $43 million, which grew 24% year-over-year.
• Adjusted costs and expenses were $462 million, which increased 39% year-over-year.
• Gross margin improved to 91.3%, which was up 50 basis points versus the prior year.
• Adjusted OpEx was $392 million, representing 49% of revenue versus 57% of revenue a year ago.
• GAAP net income for Q2 was $253 million and GAAP diluted EPS was $1.25.
• Operating cash flow for the quarter was $262 million, which doubled from $111 million a year ago.

Guidance

• Third quarter 2026 revenue is guided to a range of $860 million to $870 million, representing 47% to 49% year-over-year growth.
• Third quarter 2026 adjusted EBITDA is guided to a range of $385 million to $395 million, representing 63% to 67% year-over-year growth.
• The midpoint Q3 adjusted EBITDA margin is guided to about 45%.
• Q3 stock-based compensation and related taxes are expected to be between $140 million and $155 million.
• Full year SBC expense guidance was lowered from the high teens percent of revenue to the low- to mid-teens percent of revenue.
• Full year diluted share growth is expected to be at the lower end of the company’s 1% to 3% target range before buybacks or acquisitions are considered.