Reddit delivered robust Q2 2024 results with revenue increasing 54% year-over-year to $281.2 million, driven by 41% growth in ad revenue to $253.1 million and a 691% surge in other revenue to $28.1 million. Daily Active Uniques (DAUq) grew 51% to 91.2 million, while Weekly Active Uniques (WAUq) rose 57% to 342.3 million.The company significantly improved its financial metrics, reducing net loss to $10.1 million from $41.1 million in the prior year. Gross margin expanded by 530 basis points to 89.5%, while Adjusted EBITDA turned positive at $39.5 million with a 14% margin, up over 3000 basis points. Operating cash flow reached $28.4 million with Free Cash Flow of $27.2 million.Looking ahead to Q3 2024, Reddit projects revenue between $290-310 million and Adjusted EBITDA of $40-60 million. The company maintains a strong balance sheet with $1.7 billion in cash and marketable securities, positioning it well for continued growth and platform improvements.

Reddit delivered robust Q2 2024 results with revenue increasing 54% year-over-year to $281.2 million, driven by 41% growth in ad revenue to $253.1 million and a 691% surge in other revenue to $28.1 million. Daily Active Uniques (DAUq) grew 51% to 91.2 million, while Weekly Active Uniques (WAUq) rose 57% to 342.3 million.The company significantly improved its financial metrics, reducing net loss to $10.1 million from $41.1 million in the prior year. Gross margin expanded by 530 basis points to 89.5%, while Adjusted EBITDA turned positive at $39.5 million with a 14% margin, up over 3000 basis points. Operating cash flow reached $28.4 million with Free Cash Flow of $27.2 million.Looking ahead to Q3 2024, Reddit projects revenue between $290-310 million and Adjusted EBITDA of $40-60 million. The company maintains a strong balance sheet with $1.7 billion in cash and marketable securities, positioning it well for continued growth and platform improvements.