Filing Flows › Reddit (RDDT) › Q1 2026
Reddit (RDDT) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 1, 2026
Reddit (RDDT) reported revenue of $663M for the first quarter 2026 (Q1 2026), +69% from a year earlier and -9% from the quarter before. Operating margin was 27.6%, net earnings $204M (30.7% of revenue).
Reddit, Q1 2026: revenue $663M (+69% year over year), operating margin 27.6%, net earnings $204M, operating cash flow $312M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $663M | -9% | +69% |
| Operating profit | $183M | -21% | 47× |
| Net earnings | $204M | -19% | +680% |
| Operating cash flow | $312M | +17% | +145% |
| Free cash flow | $311M | — | +146% |
What changed
Revenue was $663.4M in Q1 2026, up 69% year over year and down 9% from the previous quarter. Advertising revenue was the largest line at 94% of revenue. Advertising revenue added $266.0M year over year (up 74%), 98% of the total change.
Operating profit was $182.9M, a 27.6% margin (up 26.6 points year over year). Of the extra revenue versus Q1 2025, 66% reached operating profit, above the 1% margin then. Total costs grew 24% against revenue growth of 69%. The fastest-growing cost line was Sales & marketing (+67%). Net earnings were $204.0M, up 680% year over year. The effective tax rate was 0.8%.
Operating cash flow was $312.3M (up 145% year over year), 153% of net earnings. Non-cash charges added back $4.2M of depreciation and amortization and $68.3M of share-based compensation. Working capital and other items added $35.7M. After purchases of property and equipment ($1.1M), free cash flow as the company reports it was $311.2M.
Questions
What was Reddit's revenue in the first quarter 2026?
Reddit (RDDT) reported revenue of $663M for the first quarter 2026 (Q1 2026), +69% from a year earlier and -9% from the quarter before.
Was Reddit profitable in the first quarter 2026?
Operating profit was $183M (27.6% of revenue) and net earnings $204M.
Source: Reddit 10-Q on SEC EDGAR.