Reddit, Inc.

For the period ended Sep 30, 2025. Filed Oct 31, 2025.

About 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.

Sep 30, 2025 · Filed Oct 31, 2025

RDDT$98.67-2.1%Stored close · as of Nov 10, 2026

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Contents

Consolidated Statements of Cash Flows

(in thousands)

	Three months ended September 30,		Nine months ended September 30,
	2025	2024	2025	2024
Cash flows from operating activities
Net income (loss)	$162,663	$29,853	$278,118	$(555,312)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	3,900	3,969	11,797	11,482
Non-cash operating lease cost	1,537	1,453	4,519	4,041
Amortization of premium (accretion of discount) on marketable securities, net	(6,779)	(12,393)	(22,354)	(31,884)
Stock-based compensation expense	83,518	74,758	258,002	716,532
Other adjustments	709	(4,665)	668	(4,039)
Changes in operating assets and liabilities:
Accounts receivable	(80,997)	(44,108)	(138,754)	(38,914)
Prepaid expenses and other assets	2,934	8,416	(23,424)	(11,766)
Operating lease right-of-use assets and liabilities	(2,038)	(1,378)	(5,407)	(2,688)
Accounts payable	7,995	442	26,940	16,484
Accrued expenses and other liabilities	11,717	15,275	33,963	28,135
Net cash provided by (used in) operating activities	$185,159	$71,622	$424,068	$132,071
Cash flows from investing activities
Purchases of property and equipment	(2,058)	(1,353)	(3,542)	(5,406)
Purchases of marketable securities	(544,101)	(428,225)	(1,605,404)	(1,425,737)
Maturities of marketable securities	563,460	447,302	1,581,054	1,043,361
Proceeds from sale of marketable securities	—	—	12,372	—
Cash paid for acquisitions, net of cash acquired	—	(17,137)	—	(17,137)
Other investing activities	(788)	7,356	2,455	7,329
Net cash provided by (used in) investing activities	$16,513	$7,943	$(13,065)	$(397,590)
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	6,013	38,001	20,500	62,933
Taxes paid related to net share settlement of restricted stock units	(28,595)	(65,800)	(80,495)	(268,106)
Payments of initial public offering costs	—	(2,162)	—	(8,500)
Other financing activities	(1,497)	(1,661)	(1,497)	(6,111)
Net cash provided by (used in) financing activities	$(24,079)	$(31,622)	$(61,492)	$380,238
Net increase (decrease) in cash, cash equivalents, and restricted cash	177,593	47,943	349,511	114,719
Cash, cash equivalents, and restricted cash at the beginning of the period	734,060	468,002	562,142	401,226
Cash, cash equivalents, and restricted cash at the end of the period	$911,653	$515,945	$911,653	$515,945
Cash and cash equivalents	$911,653	$515,895	$911,653	$515,895
Restricted cash	—	50	—	50
Total cash, cash equivalents, and restricted cash	$911,653	$515,945	$911,653	$515,945
Supplemental disclosure of noncash financing and investing activities
Conversion of convertible preferred stock to common stock upon initial public offering	$—	$—	$—	$1,853,492
Reclassification of deferred offering costs to additional paid-in capital upon initial public offering	$—	$—	$—	$23,754

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