Reddit | 10-K: FY2024 Annual Report

Reddit reported strong financial results for 2024, with revenue surging 62% year-over-year to $1.3 billion, driven by growth in advertising revenue and content licensing. Daily active unique users (DAUq) grew 39% to 101.7 million in Q4 2024, with international DAUq up 46%. Average revenue per unique (ARPU) increased 23% to $4.21 in Q4.The company achieved positive operating cash flow of $222.1 million and Free Cash Flow of $215.8 million in 2024, marking its first year of positive cash generation. Gross margin improved to 90.5% from 86.2% in 2023. However, net loss widened to $484.3 million from $90.8 million in 2023, primarily due to increased stock-based compensation expenses.Reddit completed its IPO in March 2024, raising $600 million in net proceeds. The company continues to invest in international expansion, content licensing opportunities, and AI capabilities while developing new revenue streams through its user economy initiatives. Management highlighted strong advertiser demand and improved monetization capabilities as key growth drivers.

Reddit reported strong financial results for 2024, with revenue surging 62% year-over-year to $1.3 billion, driven by growth in advertising revenue and content licensing. Daily active unique users (DAUq) grew 39% to 101.7 million in Q4 2024, with international DAUq up 46%. Average revenue per unique (ARPU) increased 23% to $4.21 in Q4.The company achieved positive operating cash flow of $222.1 million and Free Cash Flow of $215.8 million in 2024, marking its first year of positive cash generation. Gross margin improved to 90.5% from 86.2% in 2023. However, net loss widened to $484.3 million from $90.8 million in 2023, primarily due to increased stock-based compensation expenses.Reddit completed its IPO in March 2024, raising $600 million in net proceeds. The company continues to invest in international expansion, content licensing opportunities, and AI capabilities while developing new revenue streams through its user economy initiatives. Management highlighted strong advertiser demand and improved monetization capabilities as key growth drivers.