EarningsQ2 2026 Earnings Report
MX:RDDT Q2 2026 EPS Results
Actual EPS$21.45
Consensus EPS$16.28
Beat/MissBeat by +$5.16
One Year Ago EPS$7.72
MX:RDDT Q2 2026 Revenue Results
Actual Revenue$13.81B
Expected Revenue$12.54B
Beat/MissBeat by +$1.27B
YoY Revenue Growth+61.10%
Earnings Announcement Details
QuarterQ2 2026
Date07/30/2026
TimeAfter Close
Conference CallThursday, July 30, 2026
MX:RDDT Upcoming Earnings
Reddit Inc Class A's next earnings date is estimated for November 4, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:RDDT Q2 2026 Earnings Call
0:00 / 0:00
Q2 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized strong, broad-based commercial momentum with high revenue growth (61% YoY), robust monetization gains, improved profitability and record cash flow milestones. Product improvements showed early traction (notably in app retention, feed work, Reddit Max adoption, and video formats) supporting the monetization trajectory. Key challenges center on volatile search/referral traffic and the need to further improve user acquisition returns and retention from a relatively small app retention base; management positioned these as controllable via product work while also reducing some user-metric disclosures. On balance, the positive financial and product signals substantially outweigh the risks discussed.Company Guidance
Strong Revenue Growth
Total revenue grew 61% year-over-year to $805 million in Q2 2026, driven by advertising revenue of $762 million (up 64% YoY) and other revenue of $43 million (up 24% YoY).
Consistent High-Growth Quarter Streak
Eighth consecutive quarter with over 60% revenue growth and fifth consecutive quarter where revenue growth rate plus adjusted EBITDA margin exceeded 100%.
Profitability and Cash Flow Expansion
Adjusted EBITDA margin reached 43% in Q2; net income was $253 million ($1.31 basic EPS). Operating cash flow doubled year-over-year to $262 million in the quarter and Reddit crossed $1 billion of operating cash flow on a trailing 12-month basis for the first time.
Monetization per Employee Milestone
Crossed $1 million revenue per employee on an LTM basis for the first time, signaling increased efficiency.
User Reach and Engagement Progress
Weekly reach surpassed 500 million users and daily active users exceeded 130 million. New app user retention improved ~50% year-over-year on a relative basis and US & international weekly active users both grew sequentially.
Ad Product Momentum and Performance
Conversion volume grew over 100% YoY and click volume grew over 30% YoY. Dynamic product ads and app installs each more than doubled YoY. Active advertisers grew over 70% YoY; scale channel revenue doubled YoY.
Reddit Max and Automation Adoption
Advertisers using Reddit Max grew more than 60% sequentially from Q1 and Max revenue grew over 150% in the same period; Max campaigns showed measurable performance gains (e.g., Lenovo saw 40% higher purchase value vs standard campaigns).
Upper- and Lower-Funnel Product Wins
Video views revenue more than doubled YoY; six-second engaged video view tests showed >130% lift in six-second view-through rate, >70% increase in completion rate, and ~80% reduction in cost per six-second view in auto-bid tests. App install Max tests showed ~15% reduction in CPA and 28% increase in results volume.
International and ARPU Strength
International revenue grew 84% YoY while U.S. revenue grew 56% YoY. Average revenue per unique user (ARPU) increased 36% YoY to $6.18; U.S. ARPU exceeded $20 in H1.
Ecosystem & Measurement Advances
Ads API revenue grew over 40% sequentially from Q1; Shopify integration became generally available with 500+ accounts integrated. Launched dual attribution beta and received third-party studies showing strong ROAS (e.g., Attain/Circana: 1.5x higher ROAS for CPG vs other social).
Capital Allocation Activity
Repurchased about $235 million of stock (~1.5M shares) with ~$760 million remaining authorization; ended Q2 with $2.8 billion in cash and marketable securities, up >$700 million YoY.
Guidance & Cost Discipline
Q3 guidance: revenue $860–$870 million (47%–49% YoY) and adjusted EBITDA $385–$395 million (63%–67% YoY) with midpoint margin ~45%. Full-year stock-based compensation guidance lowered from high-teens % of revenue to low-to-mid-teens.
MX:RDDT Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed