Reddit Inc
For the period ended Mar 31, 2024. Filed May 8, 2024.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 8, 2024
RDDT$98.67-2.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Cash Flows
(in thousands)
| Three months ended March 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows from operating activities | ||
| Net income (loss) | $(575,066) | $(60,866) |
| Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||
| Depreciation and amortization | 3,743 | 3,338 |
| Non-cash operating lease cost | 1,253 | 3,269 |
| Amortization of premium (accretion of discount) on marketable securities, net | (8,129) | (5,132) |
| Stock-based compensation | 577,508 | 12,480 |
| Other adjustments | 485 | 16 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | 29,987 | 33,746 |
| Prepaid expenses and other assets | (13,912) | (1,012) |
| Operating lease right-of-use assets and liabilities | (530) | (871) |
| Accounts payable | (2,178) | 6,706 |
| Accrued expenses and other liabilities | 18,903 | 12,401 |
| Net cash provided by (used in) operating activities | $32,064 | $4,075 |
| Cash flows from investing activities | ||
| Purchases of property and equipment | (2,851) | (356) |
| Purchases of marketable securities | (135,685) | (262,846) |
| Maturities of marketable securities | 252,655 | 315,365 |
| Proceeds from sale of marketable securities | — | 36,789 |
| Other investing activities | (15) | 70 |
| Net cash provided by (used in) investing activities | $114,104 | $89,022 |
| Cash flows from financing activities | ||
| Proceeds from issuance of Class A common stock in initial public offering, net of underwriting discounts and commissions | 600,022 | — |
| Proceeds from exercise of employee stock options | 23,089 | 961 |
| Taxes paid related to net share settlement of restricted stock units | (194,737) | (4,229) |
| Payments of initial public offering costs | (2,753) | (362) |
| Other financing activities | (4,450) | — |
| Net cash provided by (used in) financing activities | $421,171 | $(3,630) |
| Net increase (decrease) in cash, cash equivalents, and restricted cash | 567,339 | 89,467 |
| Cash, cash equivalents, and restricted cash at the beginning of the period | 401,226 | 435,860 |
| Cash, cash equivalents, and restricted cash at the end of the period | $968,565 | $525,327 |
| Cash and cash equivalents | 968,515 | 525,277 |
| Restricted cash | 50 | 50 |
| Total cash, cash equivalents, and restricted cash | $968,565 | $525,327 |
| Supplemental disclosures of cash flow information | ||
| Cash paid for income taxes | $164 | $287 |
| Supplemental disclosure of noncash financing and investing activities: | ||
| Conversion of convertible preferred stock to common stock upon initial public offering | $1,853,492 | $— |
| Taxes related to net share settlement of restricted stock units not yet paid | $8,116 | $— |
| Reclassification of deferred offering costs to additional paid-in capital upon initial public offering | $23,754 | $— |
| Operating lease right-of-use assets recognized in exchange for lease liabilities | $— | $12,014 |
| Deferred offering costs not yet paid | $6,022 | $1,703 |
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