Reddit, Inc. — Form 8-K
Filed October 29, 2026 · analyzed by the 8-K Agent
8-K
▼ Likely negative
significance 68/100
What the filing says
Reddit reported Q3 2026 revenue of $895M (+53% YoY), net income $283M (+74% YoY), Adjusted EBITDA $402M (+70% YoY), and Free Cash Flow $363M (+98% YoY). DAUq grew 12% to 130.3M globally but U.S. DAUq declined 2% YoY. Critical risk: search referral traffic dropped meaningfully in Q3 (accelerating late quarter), with October showing 1M+ weekly referral losses; CEO warns DAUq could fall low-double-digits in Q4 if trend continues. Company repurchased 670K shares for $100M at $149.81/share; fully diluted shares at 206.3M, down 0.3% QoQ. Q4 2026 guidance: revenue $1.0–1.03B, Adj. EBITDA $480–510M.
Why this rating
Strong profitability & cash generation offset by material search-traffic cliff threatening core user growth; relative to $21.2B market cap, this is significant trajectory risk requiring monitoring.
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