Reddit has reported first-quarter revenue of about A$921 million, up 69 per cent year-on-year, as its advertising business continued to scale.
The company’s ad revenue rose 74 per cent to about A$869 million for the quarter ended 31 March 2026. Other revenue increased 15 per cent to about A$54 million.
Steve Huffman, Founder and CEO of Reddit, said the result reflected the platform’s position in online communities and AI-era search behaviour.
“Reddit is a one-of-one business powered by deeply engaged communities and authentic human conversation,” Huffman said. “That foundation is driving a rare combination of growth, profitability, and efficiency, and giving Reddit a unique advantage in the age of AI.”
Steve Huffman, Founder and CEO of Reddit
What did Reddit report in Q1 2026?
Reddit posted net income of about A$284 million, up from about A$36 million a year earlier. Adjusted EBITDA reached about A$370 million, representing a 40 per cent margin.
Operating cash flow rose 145 per cent to about A$434 million. Free cash flow was about A$432 million.
Daily active uniques increased 17 per cent to 126.8 million. Weekly active uniques reached 493.1 million, up 23 per cent.
International growth outpaces the US
Reddit’s international audience continued to grow faster than its US base. International daily active uniques rose 26 per cent to 73.3 million, while US daily active uniques increased seven per cent to 53.5 million.
International revenue grew 76 per cent to about A$192 million. US revenue rose 67 per cent to about A$731 million.
Average revenue per unique user climbed 44 per cent to about A$7.27 globally. US ARPU was about A$13.39, while international ARPU was about A$2.81.
Advertisers lean into shopping and AI tools
Reddit said advertising growth was driven by increases in impressions and pricing, with broad strength across its top 15 industry verticals.
The company also highlighted momentum in shopping ads, including its integration with Shopify to simplify catalogue and measurement setup for advertisers.
According to Reddit’s own research, 84 per cent of Reddit shoppers said they felt more confident in their purchases after researching products on the platform. The study was conducted in the US by Attest in February 2026 among 1,004 adults who use Reddit monthly.
The company expects second-quarter revenue of between about A$994 million and A$1.01 billion. It also forecast adjusted EBITDA of between about A$396 million and A$410 million.