Reddit (RDDT) FY2022 results: revenue $667 million
Reddit, Inc. (RDDT) reported revenue of $667 million for fiscal 2022, the year ended 31 December 2022. Net income was -$159 million, and diluted earnings per share $-2.77. The figures are the company's own, from the 10-K it filed with the SEC on 13 February 2025.
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
| $ million | FY2022 | Last 8 years |
|---|---|---|
| Revenue | 667 | |
| Cost of revenue | 105 | |
| Gross profit | 562 | |
| Gross margin | 84.3% | |
| Research and development | 365 | |
| Operating income | -172 | |
| Operating margin | -25.8% | |
| Pre-tax income | -158 | |
| Income tax | 0.6 | |
| Net income | -159 | |
| Net margin | -23.8% | |
| Diluted EPS | -$2.77 |
$ million except per share.
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Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.Cash flow
| $ million | FY2022 | Last 8 years |
|---|---|---|
| Operating cash flow | -94.0 | |
| Capital expenditure | 6.2 | |
| Free cash flow | -100 | |
| Free cash flow margin | -15.0% | |
| Cash from investing | -804 | |
| Cash from financing | -3.8 | |
| Depreciation and amortisation | 8.0 | |
| Share-based compensation | 55.3 | |
| Diluted shares, weighted | 57m |
Balance sheet
| $ million | FY2022 | Last 8 years |
|---|---|---|
| Shareholders' equity | -379 | |
| Redeemable equity | 1,853 | |
| Cash and equivalents | 436 |
10-K for the year ended 31 December 2022, filed 13 February 2025: the filing.