Reddit Files 2024 10-K Report

Ticker: RDDT · Form: 10-K · Filed: Feb 13, 2025 · CIK: 1713445

Sentiment: neutral

Topics: 10-K, annual-report, financials

TL;DR

Reddit's 2024 10-K is in, check the financials for the year ending Dec 31.

AI Summary

Reddit, Inc. filed its 2024 10-K report on February 13, 2025, detailing its financial performance for the fiscal year ending December 31, 2024. The filing covers the company's operations, financial statements, and risk factors. Key financial data and operational highlights for the period are presented within the comprehensive report.

Why It Matters

This 10-K filing provides investors and the public with a detailed overview of Reddit's financial health and strategic positioning as of the end of fiscal year 2024.

Risk Assessment

Risk Level: medium — As a 10-K filing, it inherently contains detailed risk factors and financial disclosures that require careful analysis.

Key Numbers

Key Players & Entities

FAQ

What is the primary purpose of this 10-K filing for Reddit, Inc.?

The 10-K filing provides a comprehensive overview of Reddit, Inc.'s business, financial condition, and results of operations for the fiscal year ended December 31, 2024.

When was this 10-K report filed with the SEC?

This 10-K report was filed on February 13, 2025.

What is Reddit, Inc.'s fiscal year end date as stated in the filing?

Reddit, Inc.'s fiscal year end date is December 31.

What is the company's primary business address listed in the filing?

The company's business address is 303 2ND STREET, SOUTH TOWER, 5TH FLOOR, SAN FRANCISCO, CA 94104.

What SEC Act does this filing fall under?

This filing falls under the 1934 Act.

Filing Stats: 4,552 words · 18 min read · ~15 pages · Grade level 16.1 · Accepted 2025-02-12 18:11:55

Key Financial Figures

Filing Documents

Risk Factors

Item 1A. Risk Factors 13

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 48

C . Cybersec urity

Item 1 C . Cybersec urity 48

Properties

Item 2. Properties 49

Legal Proceedings

Item 3. Legal Proceedings 49

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 49 Part II

Market for Registrant ' s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5. Market for Registrant ' s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 50

[Reserved]

Item 6. [Reserved] 51

Management ' s Discussion and Analysis of Financial Condition and Results of Operations

Item 7. Management ' s Discussion and Analysis of Financial Condition and Results of Operations 52

Quantitative and Qualitative Disclosures About Market Risk

Item 7A. Quantitative and Qualitative Disclosures About Market Risk 67

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data 68

Changes in and Disagreements With Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 100

Controls and Procedures

Item 9A. Controls and Procedures 100

Other Information

Item 9B. Other Information 100

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 101 Part III

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance 102

Executive Compensation

Item 11. Executive Compensation 102

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 102

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence 102

Principal Accounting Fees and Services

Item 14. Principal Accounting Fees and Services 102 Part IV

Exhibits and Financial Statement Schedules

Item 15. Exhibits and Financial Statement Schedules 103

Form 10-K Summary

Item 16. Form 10-K Summary 105

Signatures

Signatures 2 Table of Contents NOTE REGARDING FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K contains forward-looking statements about us and our industry that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this Annual Report on Form 10-K, including statements regarding our strategy, future financial condition, future operations, projected costs, prospects, plans, objectives of management, and expected market growth, are forward-looking statements. In some cases, you can identify forward-looking statements because they contain words such as "may," "will," "shall," "should," "expects," "plans," "anticipates," "could," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "potential," "goal," "objective," "seeks," or "continue," or the negative of these words or other similar terms or expressions that concern our expectations, strategy, plans, or intentions. Forward-looking statements contained in this Annual Report on Form 10-K include, but are not limited to, statements about: our strategies to increase awareness of Reddit, including through search engine optimization, partnerships, and investment in full-funnel marketing; our strategies to increase user growth and engagement; our expectations regarding the growth and availability of valuable and appealing user-generated content on our platform; our ability to develop new products and services and bring them to market in a timely manner and make enhancements to our platform; our ability to implement artificial intelligence and machine learning to increase user growth and engagement and support advertising growth; user and advertiser growth strategies in geographies outside of the United States and in languages besides English; strategies to increase revenue from new and existing advertisers, including by (i) evolving our service model to more types of advertisers and building deeper advertise

Business

Item 1. Business Our Mission Our mission is to empower communities and make their knowledge accessible to all. We built Reddit with the belief that communities unlock the power of human creativity and create a sense of belonging and empowerment for their members. Our over 100,000 active communities have channeled the power of human creativity to grow Reddit since our founding. We believe the world needs community more than ever, and that this represents our greatest opportunity to further enrich the lives of everyone in the world. Overview: The Power of Reddit's Communities Reddit is a global, digital city where anyone in the world can join a community to learn from one another, engage in authentic conversations, explore passions, research new hobbies, exchange goods and services, create new communities and experiences, share a few laughs, and find belonging. People are diverse and have multiple interests. Just like in a city, where citizens are part of multiple subcommunities, on Reddit, users often belong to multiple communities. At Reddit, users can dive into anything, and if a community does not already exist around a particular topic, they can create one. In the three months ended December 31, 2024, an average of 101.7 million daily active uniques ("DAUq") around the world came together on Reddit – continuously adding to our longstanding and constantly evolving human archive of information. They come together to share the rhythm of their daily discoveries, ask questions and receive advice, research before making a purchase decision, hear reactions to recent events, and thrive as a community. Built on shared interests, passion, and trust, Reddit has a community for everyone. Communities on Reddit are organized based on specific interests and are called subreddits. Within subreddits, Redditors engage in active and in-depth conversations by sharing experiences, submitting links, uploading images and videos, and replying to one another in comment threads on

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