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Reddit cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$363M in Q3 2026 · $1.2B over twelve months

Operating cash flow$364M
Capital spending−$1.2M
Free cash flow+$363M
Cash / net income1.3×
Cash conversion cycle-50 days

Analysis

In Q3 2026, Reddit generated $364M of operating cash flow and spent $1.2M on capital projects, leaving free cash flow of $363M. That is $179M more than in Q3 2025 ($183M).

Over the twelve months to Sep 30, 2026, operating cash flow was $1.2B; the largest uses were other investing ($364M), other financing ($340M), taxes on employees’ shares ($68.5M); besides operations, cash came from shares issued ($19.9M); the cash balance rose by $446M.

Operating cash flow was $364M against net income of $283M — 1.3× profit, cash ran ahead of reported earnings. The largest differences: stock-based pay +$131M, receivables −$80.0M, payables +$18.9M.

Its cash conversion cycle was -50 days (receivables 71 + inventory 0 − payables 121): suppliers fund its working capital.

Free cash flow

Reddit: free cash flow by quarterReddit: free cash flow by quarter$89.2MQ4 2024$127MQ1 2025$111MQ2 2025$183MQ3 2025$264MQ4 2025$311MQ1 2026$261MQ2 2026$363MQ3 2026
Operating cash flow less capital spending.
Reddit: operating cash flow against capital spendingReddit: operating cash flow against capital spendingOperating cash flowCapital spending$90.0M$842KQ4 2024$128M$979KQ1 2025$111M$505KQ2 2025$185M$2.1MQ3 2025$267M$3.2MQ4 2025$312M$1.1MQ1 2026$262M$1.1MQ2 2026$364M$1.2MQ3 2026
Latest (Q3 2026): Operating cash flow $364M, Capital spending $1.2M.

Capital allocation, year by year

Reddit: where the cash came from (up) and went (down), by fiscal yearReddit: where the cash came from (up) and went (down), by fiscal yearOperating cash flowShares issuedCapital spendingAcquisitionsFY2022: Operating cash flow −$94.0MFY2022: Shares issued $7.0MFY2022: Capital spending −$6.2MFY2022: Acquisitions −$42.2M$7.0MFY2022FY2023: Operating cash flow −$75.1MFY2023: Shares issued $8.4MFY2023: Capital spending −$9.7M$8.4MFY2023FY2024: Operating cash flow $222MFY2024: Shares issued $689MFY2024: Capital spending −$6.2MFY2024: Acquisitions −$17.1M$911MFY2024FY2025: Operating cash flow $691MFY2025: Shares issued $25.1MFY2025: Capital spending −$6.7M$716MFY2025
Over these 4 years operating cash flow totalled $744M; the largest uses were operating cash flow ($169M) and acquisitions ($59.3M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$3.0B
Debtnone
Net cash$3.0B

Reddit funds itself: free cash flow was $1.2B over the last twelve months, with $3.0B of cash and investments and no debt on the balance sheet.

Where the cash came from and went

Reddit: sources (+) and uses (−) of cash, Q3 2026Reddit: sources (+) and uses (−) of cash, Q3 2026Other investing−$383MOperating cash flow$364MCash drawn (+) / kept (−)$129MBuybacks−$100MTaxes on employees’ shares−$14.2MShares issued$5.4MCapital spending−$1.2M
Reddit: sources (+) and uses (−) of cash, TTM to Q3 2026Reddit: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$1.2BCash drawn (+) / kept (−)−$446MOther investing−$364MOther financing−$340MTaxes on employees’ shares−$68.5MShares issued$19.9MCapital spending−$6.6M

From profit to cash

Reddit: net income to operating cash flow, Q3 2026Reddit: net income to operating cash flow, Q3 2026Net income$283MDepreciation & amortization$4.3MStock-based pay$131MOther non-cash$2.0MReceivables−$80.0MPayables$18.9MAccrued liabilities−$2.0MPrepaid and other assets$10.2MOperating cash flow$364M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 202671—121-50
Q2 202666—91-25
Q1 202676—92-16
Q4 202568—107-38
Q3 202570—120-50
Q2 202567—107-40
Q1 202577—108-31
Q4 202468—155-87

Every quarter

QuarterOperating cash flowCapital spendingBuybacksShares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$364M−$1.2M−$100M$5.4M$129M$363M
Q2 2026$262M−$1.1M−$235M$5.0M−$112M$261M
Q1 2026$312M−$1.1M−$5.0M$4.9M−$421M$311M
Q4 2025$267M−$3.2M—$4.6M−$41.9M$264M
Q3 2025$185M−$2.1M—$6.0M−$178M$183M
Q2 2025$111M−$505K—$4.3M−$98.3M$111M
Q1 2025$128M−$979K—$10.2M−$73.6M$127M
Q4 2024$90.0M−$842K—$26.0M−$46.2M$89.2M

Reddit: income statement and cash flow

Reddit, Q3 2026: revenue $895M (+53% year over year), operating margin 29.2%. The chart follows the revenue to costs, profit and cash.

Reddit: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.