Reddit, Inc. (RDDT) Reports Q1 Net Loss of $575.1M, EBITDA of $10M, Offers Guidance
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Reddit Announces First Quarter 2024 Results
May 7, 2024 4:07 PM EDTRecord user traffic, Daily Active Uniques (DAUq) increased 37% to 82.7 million
Revenue increased 48% to $243.0 million, nearly doubling growth rate from prior quarter
Net loss driven by IPO expenses, first profitable Q1 on an Adjusted EBITDA basis
Operating cash flow of $32.1 million and positive free cash flow of $29.2 million
SAN FRANCISCO--(BUSINESS WIRE)-- Reddit, Inc. (NYSE: RDDT) today announced financial results for the quarter ended March 31, 2024. Reddits complete financial results and management commentary can be found... More
