Reddit, Inc. Announced Q1 2026 Earnings on April 30, 2026, Reporting Q1 revenues of $663 million

Reddit, Inc. reported its first quarter 2026 financial results, noting that Q1 revenues of $663 million grew 69% year-over-year.Advertising revenue grew 74% year-over-year to $625 million in the quarter.The company achieved a 47% free cash flow margin and reported net income of $204 million, or $1.01 per diluted share.Gross margins were 91.5% and the adjusted EBITDA margin was 40% for the quarter.Management stated their goal is to reach 100 million daily U.S. users. To achieve this, the company is prioritizing broadening the top of funnel, improving new user retention, and making Reddit faster across the board.The company's advertising strategy focuses on scaling automation through the RedditMax platform, delivering advertiser value across all objectives, and expanding the Reddit for Business ecosystem.For the second quarter of 2026, management estimates revenue in the range of $715 million to $725 million.They expect Q2 adjusted EBITDA to be in the range of $285 million to $295 million.The Q2 guidance assumes a total adjusted cost basis of $430 million.In product and partnership updates, the company launched RedditMax to beta in early Q1 to integrate more automation and AI into their ad stack. In March, they announced an integration with Shopify to strengthen their retail and e-commerce partnership ecosystem.Management also highlighted ongoing data partnerships with Google and OpenAI, stating that Reddit continues to be the most cited source in AI citations across all platforms.