Reddit (RDDT) FY2025 results: revenue $2.2 billion, up 69.4% on the year

Reddit runs a website and apps where people gather in topic communities to ask questions, argue, suggest things and post links, images and video, and it sells advertising inside those conversations. It also licenses its archive of posts and comments to other companies. There are over 100,000 active communities, and an average of 121.4 million daily active uniques came to the site in the three months to 31 December 2025. The company was incorporated in Delaware in May 2011, went public in March 2024, and its Class A shares trade on the New York Stock Exchange. Its offices are at 303 2nd Street in San Francisco.

How the site is put together

Communities are called subreddits and are written with an r/ in front of the name, each one organised around a specific interest, from r/explainlikeimfive to r/BeyondTheBump. Inside a subreddit people submit links, upload images and video, and reply to each other in comment threads. Users shape what is visible by posting, upvoting, downvoting and commenting, and identity is not required, so a person can post without disclosing who they are. Communities are moderated by users themselves, as volunteers, layered on top of the company's own moderation and safety work. Reddit Rules set what is not allowed anywhere on the platform, and each community sets its own rules within that.

What advertisers are buying

Two things, according to the filing. Interest-based advertising reaches people by what they are interested in across the platform, using the company's interest graph, so a camping product can be shown to people who spend their time on the outdoors. Contextual advertising places the ad inside the conversation itself, so the same product appears to someone in r/camping asking what gear to buy. The company reports that its advertising performance rests on first-party data from what users do on the platform, meaning the communities they visit and the content they engage with, rather than on tracking people through personally identifiable information or third-party data. Advertisers bid in auctions against objectives across the funnel, from impressions and traffic to conversions and app installs, with automated bidding offered to manage budgets. Conversation summary add-ons, widened in 2025, put real community conversation into the ad itself, and Reddit Community Intelligence turns the posts and comments into structured material for marketers, with Reddit Insights as the social listening tool. Advertiser categories today are heaviest in technology and communications, in business, legal and finance, and in media and entertainment.

Licensing the archive

The archive held over two billion posts and over 22 billion comments at the end of 2025, and the filing describes Reddit as one of the internet's largest bodies of human-written conversation and one of the most sourced domains in AI models. The company licenses that content, and says it continues to explore agreements with partners ranging from marketing intelligence and enterprise technology companies to specialist providers.

Outside the United States

About 57 percent of Redditors visited from outside the United States in the fourth quarter of 2025, an average of 68.9 million international daily active uniques, while over 90 percent of posts created were in English. Machine translation was live in 35 languages at the end of 2025 and roughly one billion posts had been translated. A local content framework identifies the top interests in each country and guides partnerships, content and marketing; the filing says the approach worked in India and is being applied to other markets.

The shape of the year

Advertiser spending rises in the fourth quarter, largely end-of-year budgets, and is typically followed by a weaker first quarter. Publishers and brands also use the platform directly: companies answer customer questions in communities such as r/sonos and r/fidelityinvestments, Ask Me Anything features let creators and publishers take questions, and Reddit Pro lets outlets including The Atlantic, The Hill, NBC News and The Associated Press sync their feeds and track how their stories travel.

From Reddit's annual report on Form 10-K for the year ended 31 December 2025. The filing

Written from the 10-K filed 6 February 2026: read the full 10-K.