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Below is Dolphin Research's summary of Reddit's 2025 Q4 earnings call Trans; for our earnings review, cf. 'With Google at its back, Reddit keeps rallying'.Core financial takeaways from the quarter. Ad biz performance was as follows:Ad revenue was $690mn (+75% YoY); active advertisers rose &gt;75% YoY; SMB revenue doubled YoY.U.S. ad revenue grew 68% YoY; Intl ad revenue grew 78% YoY.2026 Q1 guidance. Revenue of $595–605mn...

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RDDT (Trans): We are not niche; advertisers are setting up dedicated Reddit teams.

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The following are the minutes of the earnings call for $Reddit(RDDT.US) FY25Q3 organized by Dolphin Research. For an interpretation of the earnings report, please refer to &#34;Reddit: Another Surprising Surge, How to View the Expectation Gap Before and After the Earnings Report?&#34; 1. Review of Core Financial Data Performance Overview User Scale: Daily Active Users (DAU) reached 116 million, and Weekly Active Users (WAU) reached 444 million, both increasing by approximately 20% year-over-year. Revenue Performance: Total revenue was $585 million, a year-over-year increase of 68%. Profitability: GAAP net income was $163 million, with a net profit margin of 28%...

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Reddit (Minutes): There are still user penetration opportunities among specific groups in North America

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Discussing the third-quarter report of $Reddit(RDDT.US), this time it is actually similar to the situation in the second quarter, also involving a process of expectation correction: 1. Before the earnings report, market tracking showed poor growth in North American user data (decline in duration, zero growth in users). Considering that North American users are the main source of monetization, the lack of user growth raises doubts about growth potential, and high valuations (generally hovering around 40x-50x EV/EBITDA) naturally cannot be sustained. 2. When the actual earnings report was released, although North American user growth was not as bad as third-party data tracking indicated (negative growth), it was still not promising...

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Reddit: Another unexpected surge, how to view the correction of expectation differences before and after the earnings report?

The following are the minutes of the FY25Q2 earnings call for $Reddit(RDDT.US) organized by Dolphin Research. For an interpretation of the earnings report, please refer to &#34;Hugging Google's Thighs, Reddit is Racing on the Commercialization Road.&#34; 1. Review of Core Financial Information 1. 3Q25 Guidance: Expected revenue of $535 million to $545 million (year-over-year +54% to +56%, midpoint 55%); Adjusted EBITDA of $185 million to $195 million (year-over-year +100% to +110% ...

Reddit (Minutes): Core search weekly users have reached 70 million

$Reddit(RDDT.US) surged over 15% after releasing better-than-expected earnings. Is this truly a flawless report card? What are the specific flaws? Dolphin Research will discuss briefly; 1. The point of surge—monetization progress exceeded expectations + Google partnership upgrade. Reddit is still in the early stages of commercialization and has the support of the advertising giant Google, making it one of the few platforms in North America with high user growth. Therefore, under the comprehensive efforts of management in advertising tools, AI search intelligence, and building a large client sales team, second-quarter advertising revenue achieved an accelerated year-on-year growth of 84%...

Clinging tightly to Google's coattails, Reddit is racing down the path of commercialization.

The following is the minutes of the Q4 2024 earnings conference call for $Reddit(RDDT.US). For financial report interpretation, please refer to &#34;Reddit: Is Growth Dependent on the Big Brother's Face? High Valuation is the 'Sword Overhead'&#34;. 1. Important Financial Metrics Overview 1. Strong Revenue: Total revenue in Q4 increased by 71% year-on-year to $428 million, with annual revenue growing by 62% year-on-year to $1.3 billion. In Q4, advertising revenue increased by 60% year-on-year to $395 million, benefiting from broad advantages in targeting, channels, vertical industries, and regions...

Reddit (Minutes): The user mindset for professional search is taking shape

After the market closed on February 12, Eastern Time, &#34;Old Tree Sprouts New Buds&#34; $Reddit(RDDT.US) released its Q4 2024 performance. Overall, the speed of advertising monetization exceeded expectations, and the pace of operational efficiency improvement was impressive, with guidance also remaining strong. However, due to the core metric—user numbers in the United States missing expectations—Reddit's stock plummeted over 10% after the earnings release. Although during the post-earnings conference call, management explained the reasons for the sluggish growth in U.S. user numbers, which was affected by Google's Q4 search algorithm adjustments...

Reddit: Growth depends on the big brother's mood? High valuation is the "sword over the head"

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By the end of 2023, just before its IPO, $Reddit(RDDT.US) had already amassed a global DAU user base of 73.1 million, with nearly half of them being from the U.S. For comparison, a similar community platform like Pinterest, which is already public, reached a DAU of 130 million by the end of 2023.However, in terms of monetization capability, Reddit lags far behind. In 2023, Reddit's revenue was only $800 million, while Pinterest's exceeded $3 billion—a threefold difference. Why is the efficiency gap so huge?On one hand, there's the &#34;innate disadvantage&#34; of the platform's nature; on the other, there's the &#34;acquired inaction&#34; of its management.Compared to other social platforms, Reddit's most distinctive feature is its &#34;grassroots&#34; nature—it downplays the influence of the platform and influencers, providing users with a great experience. However, this obviously affects advertisers' performance. Reddit has also stuck to its fully anonymous social model, where users cannot follow or track each other long-term.Another issue is management turmoil. Reddit went through three rounds of leadership changes. Before 2011, it was mired in content moderation scandals (lacking a content review mechanism, allowing users to freely post toxic content like pornography and gambling, which deterred advertisers; initial attempts to regulate content faced backlash from longtime users). It wasn't until 2016 that Reddit launched its official app, and before 2018, it hadn’t even established a proper ad system. These upheavals directly caused Reddit to miss key strategic opportunities during industry shifts, slowing its growth and normal commercialization.

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Reddit: The American version of "Zhihu + Tieba", how does it manage to sprout new growth from an old tree?

Wall Street Zen Upgrades Reddit's Stock Rating

Reddit Launches Identity Verification Tools to Address Legal Risks

Reddit stock RDDT falls below 20-day moving average

Reddit's stock price drops 8.2% due to insider selling

Reddit CEO Considers Facial Recognition to Tackle Bot Problem

Reddit COO Jennifer L. Wong Sells $5.2 Million in Stock After Exercising Options

Reddit Sees Stock Prices Rise for Third Consecutive Day Following Partnership with Pacvue

Reddit CEO Sells $2.37 Million of Class A Common Stock

Reddit Director Farrell Purchases Company Stocks

PulsePoint Integrates with Reddit to Expand Full-Channel Capabilities

Reddit CEO Sells Class A Common Stock

Reddit Fined for Failing to Protect Children's Data

Reddit's Chief Legal Officer Disposes of Class A Common Stock

UK ICO fines Reddit £14.5 million

Reddit Testing New AI-Driven Search Feature

Reddit CEO Disposes of A Class Common Stock

Tiger Global Management reduces its Reddit shares

Goldman Sachs Downgrades Reddit's Target Price to $206 and Maintains Neutral Rating

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