Reddit reported 116 million Daily Active Unique Users, driven by organic product improvements and marketing. Total revenue reached $585 million, up 68% year over year, with strength from advertising and international channels. Advertising revenue was $549 million, growing 74% year over year due to broad-based demand across large, mid-market, and SMB advertisers. Net income totaled $163 million, producing a 28% net margin and improving by $133 million year over year. Adjusted EBITDA reached $236 million with a 40% margin and an incremental adjusted EBITDA margin of 60%. Free cash flow was $183 million and cash and equivalents were $2.2 billion.
"Daily Active Unique Users (DAUQ) -- 116 million DAUQ, supported by both organic product improvements and marketing. Total Revenue -- $585 million total revenue, up 68% year over year, with strength from both advertising and international channels. Advertising Revenue -- $549 million, growing 74% year over year, driven by broad-based demand across large, mid-market, and SMB advertisers. Net Income -- $163 million net income, with a net income margin of 28%, improving by $133 million over the previous year."
"Adjusted EBITDA -- Adjusted EBITDA reached $236 million, with an adjusted EBITDA margin of 40%, surpassing the IPO target for the first time. Gross Margin -- 91%, up 90 basis points year over year and exceeding 90% for five consecutive quarters. Incremental Adjusted EBITDA Margin -- with an incremental adjusted EBITDA margin of 60%, marking a new high for Reddit (NYSE:RDDT). Free Cash Flow -- with free cash flow of $183 million, with a free cash flow margin of 31%,"
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