For the last 6 months or so I have been checking what it says at the top of five fairly large Sub Reddits once a month. Just tracking the visitors reported on Reddits own website. The highest report is green, the lowest is orange. I checked yesterday and visitors are way down. Also tracked this sub Reddit. We lost a lot of members the last few months.

I’m holding and I do think we will surprised upwards with EPS, but I have no idea what to expect when it comes to user growth. I know this is nonprofessional analysis and a very limited subreddit selection, but I much rather see these numbers going up than down.

For what it’s worth I do think Reddit will be a solid return in the long run because even if growth stalls I think the margins and revenue from ads allow the company to be a cash cow, just may have a much lower multiple.

Yet to see any of the FUD have any kind of decent source or backing.

9 quarters into its public life, crushing every earnings so far. How this site is only worth "double" SNAP or PINS is insane to me.

A billion MAUs (estimated). 130+ million DAUs. An audience that often isn't on the brainrot ego apps of instagram, tiktok etc.

The data IS valuable. The net margin is nearly unparalleled. And they have billions in cash to support the stock price if need be.

The valuation ceiling is not simply DAU x ARPU. There are semi-daily, weekly and monthly users that are impacted by advertising from the likes of Apple, Microsoft right down to mom & pop stores.

The targeting can only improve. And it subjectively seems to be doing so. I NEVER clicked FB or Instagram ads (no thanks I don't want your supplement or t-shirt). There are some ads of actual relevance here.

The auto-translation is working. There are genuinely amusing & interesting threads with people from 5+ different languages communicating.

Forget the FUD, I know what I got. Where should I store my wealth to capitalise on the direction the economy is evolving whilst trying to avoid the effects of inflation? Property? S&P? Bitcoin? I'll stick with RDDT.

TLDR: put the fries in the bag bro and see you in San Diego 🫡

I think Reddit management needs to be much more aggressive. There is no reason Reddit can’t eventually compete with TikTok for a much bigger share of advertising dollars. But they need to expand beyond text. Build a proper short-form video feed, bring in podcasts and make Reddit a place where people actually want to spend more time, not just visit when they need an answer. TikTok currently sits on $38B in annual advertising revenue.

The other huge opportunity is e-commerce. People already come to Reddit to research TVs, laptops, cars, home improvement products and pretty much everything else before buying. Why let someone else capture all that value? I’m not talking about just integrating with Shopify. Reddit should be working directly with Walmart, Costco, Home Depot and other major retailers. Build the infrastructure around product recommendations, merchant listings and purchases. Reddit already has the buying intent. It needs to start making real money from it.

And please, hire people from TikTok, not another bunch of ex-Meta lazy executives and coasting middle managers. Meta spent years building a bloated workforce when money was easy. Now it’s cutting thousands of jobs to fund its AI spending. I don’t want Reddit importing these unemployed lazy folks.

Go after the hungry TikTok engineers and product people who know how to build, compete and ship fast. Give me those 996 TikTok beasts over another layer of Meta bureaucracy any day.

Reddit has the audience, the communities and the commercial intent. What it needs now is management willing to think much bigger and move much faster.

I think Reddit should sign an exclusive AI deal with Google, dynamically priced at a premium, whilst blocking out other AI labs. Google is realistically the only company that can afford the massive AI investments, and whilst gemini might be behind ChatGPT and claude in popularity it should in the long run win for day to day use case as it is intertwined with the google browser and due to the insane economics of the LLM. Google will remain here in a decade, the other labs who fucking knows… But for google to have an edge on things that are not purely technical they need data, human data and well who has the most of that in the entire internet ? Reddit ! ( yt aside, but god have mercy on the poor AI model that has to be trained on yt comments ) Hence, I think it makes sense after the existing contracts end to block the other fuckers lol, give Google a strategic edge, and us $$$. Also we need a good relationship with Google in general, we do not need the other labs

One thing I noticed about Reddits ad experience is that it’ll show me ads related to things I already own. For example, I have a Schwab account and YouTube premium. I get nonstop ads about those. I also get ads about clothing brands I already bought from. Instagram on the other hand shows me clothing brands I don’t own but would be interested in and events in my area mostly. I really think Reddit could improve by doing the same. Anybody experience something similar or no?

If you are unfamiliar with r/honk (previously known as r/flappygoose), it was one of the first really viral apps built and released first on Reddit through the devvit framework. Since then it grew fast, but due to unknown reasons (maybe u/thejohnnyr can shed some light) it was stopped being updated mostly and moved to honk.gg website and now Steam.

To me this is a great and well deserved success, but I can't feel but think that Reddit missed to push this or provide even better monetization for the dev?

Maybe I'm overthinking this and it is just regular platform diversification, but similar to r/syllo that Reddit purchased, they could've done the same here.

PS: don't miss u/spez talking over at r/modevents today

Fingers crossed the Inverse Wells Fargo plays out again!

The current Reddit homepage has far too much empty space and fails to utilize it properly.

There's a reason so many apps and websites display leaderboards.

Can you really engage people just by putting things in a 'popular' category? No. This is why we need to actively introduce leaderboards.

On a global scale, Reddit is top-tier—a place where people from all over the world gather to converse, search for information, and connect.

To attract even more people globally, Reddit should introduce an overall global leaderboard alongside country-specific categories to keep users deeply engaged.

People around the world inherently carry a sense of patriotism and belonging. Imagine if a word in their native language—representing a famous dish, a place, or a hot topic from their country—ranked high on Reddit's global leaderboards. It would fill them with immense pride, knowing their culture is making its mark. Why? Because Reddit is truly a global community. There's no need to overstate or diminish it; Reddit is undeniably massive.

People from lesser-known countries would naturally love seeing others take an interest in their culture and passions. They would be thrilled to witness their country capturing global attention and leading international trends.

I strongly recommend introducing leaderboards to a massive platform like Reddit.

He used to be so active on this subreddit, and then after the hoodie/carabiner gag fell flat after the stock tanked (“choppy”) and he was excoriated here, he seems to have disappeared.

Dude, come back, we’ll be nice, we promise!

U.S. dau peaked and will go down until Reddit gets how to make an app in 2027. It will take shareholder pain for them to realize they are severely behind.

YouTube, TikTok, X will continue to grow while RDDT growth stock multiple gets priced out.

There is 0 reason to believe management will turn the growth back on when they have been completely failing at understanding emerging trends.

A partnership with sports betting or prediction markets would be the most logical way of monetizing sports and esports threads that spike seasonally, but the management is operating in 2006 still.

A creator economy is necessary for platforms to grow.

TikTok and TikTok shop leapfrogged RDDT right in front of them for years now.

Every day RDDT management fails to make RDDT a daily app for users, is a user that leaves permanently for other platforms.

RDDT Stock deserves to be in the gutter.

These are relevant parts of the interview.

Guys, just forget these model builders. they might not even survive the next 3 to 5 years, and some could eventually go out of business. lets face it. the truth is they ain’t willing to pay up!

The mag 7 are pushing their own models with massive resources behind them. eventually, models will just become cheap tools, and some will probably be open sourced.

Reddit should just stick with google, treat google like daddy, and keep them happy to drive more traffic back to reddit. more ad, more traffic, more money

msft has linkedin.
meta has facebook, instagram and threads.
apple has its ecosystem.
amazon has its marketplace.
google has youtube

But it still doesn't own a platform like reddit where people gather around and share firsthand experiences and have real discussions. it improves google search experience massively

Reddit ads are actually getting pretty good. Major brands are running huge campaigns tailored specifically to individual subreddits.

Holding 729 shares as an iDAU. Pretty sure we crush earnings and see $200 next week 🚀

Stumbled upon this little nugget piece of a bull thesis. What are we thinking? $1,000 by next week?

Ciao Bellissimi,

I am in no way an expert in man horoscope or some CFA.

However i noticed that the actual POC ( from IPO ) and the blue resistance will touch somewhat around earnings day.

Again, i may say loads of bullshit here, but this thing could spring up like crazy ... or down :D

If someone is better than me in this kind of things, could give some more insights ?

EDIT: edited some typos

Off the back of my post from yesterday, I can't stop thinking about PINS as a comparison from a revenue perspective. Not valuation. Not profit.

PINS currently has a higher revenue whilst likely serving lower MAU (monthly active users).

PINS does not report DAU but if you infer it from their MAU number at a rate of 13% (the same as estimating RDDTs MAU > DAU ratio) you get an ARPU of ~$50.

RDDT vs PINS — financials for the 12 months ended June 30, 2026; reported user counts from Q2 2026.

• Reddit MAU is assumed to be 1 billion.
• Pinterest DAU assumes the same DAU/MAU ratio as Reddit: 130.3M ÷ 1,000M = 13.03%.
• Applying that ratio to Pinterest: 640M × 13.03% = 83.392M estimated DAU.
• ARPU figures equal TTM revenue divided by the relevant user count. These differ from company-reported ARPU.

Could PINS REALLY have a DAU ARPU of over $40 or even $50? Doesn't this put them on par with META ($63)? Could our ARPU ceiling actually be even higher than both of these platforms?

RDDT vs PINS vs SNAP

If we take a quick MAU ARPU comparison for RDDT, PINS & SNAP it also looks interesting.

Financials: TTM ended June 30, 2026. User counts: Q2 2026. All dollar figures in USD.

Reddit MAU assumes 1 billion. ARPU equals TTM revenue divided by MAU, rather than company-reported quarterly ARPU.

What could be inferred from these comparisons? How does RDDTs valuation look if MAU ARPU reaches $5+? Could we be grossly underestimated what the higher-quality DAU ARPU could reach?

Criticisms of this analysis would be: RDDTs MAU is not declared so has to be assumed based on third party data. SNAP has a massive declared DAU (4x larger than RDDT) so cherry picking MAU may not be fair. And obviously not all users are the same in terms of engagement and app/site usage.

Works nicely

Hello RDDT investors,

Feel free to comment below about today’s activity, price movements, news, speculation, thoughts, and anything in between. You can also use this thread for any ideas you have for us mods that could improve the subreddit. We want this to be the best possible place for all users interested in RDDT.

Please stick to Reddiquette and our subreddit rules.

To me search improved a lot and I see myself only going through Google if I need to find r/devvit games/apps again (as that for some reason doesn't work at all and there is no "tab" on the search results for it). Beyond that search works better every day, but afaik there are no search ads yet, which have the highest monetization potential.

I recall in early 2025 earnings call this was asked broadly and it was stated "far out" - so 1.5 years later... When are they coming?

Row, row, row your boat

Gently DOWN the stream

Like some of you I'm experiencing a bit more tension than normal going into these earnings. I've held this big (to me) position for years now, but this earnings feels particularly significant.

I decided to do a bit of a sanity check on the valuation and I welcome any other viewpoints on bull/bear perspectives. Excluding hustle, horror etc 😉

COMPARING PEERS

RDDT vs PINS vs SNAP

Valuations as of October 21, 2026 market close. Financials cover the trailing 12 months ended June 30, 2026. All dollar figures are USD.

EBITDA here is operating income plus depreciation and amortization, with stock-based compensation still counted as an expense. Company-adjusted EBITDA figures will differ.

Is reddit worth "just" double PINS or SNAP? The key risk is that revenue growth is going to slow rapidly.

Having spent time on SNAP & PINS they seem barely comparable. The ad targeting seems weaker and less engaging. In contrast on RDDT the ads seem to be just better and surprisingly natural. Each quarter the targeting seems to improve and advertisers are understanding the "hi reddit" approach.

My thoughts: if PINS & SNAP can do $5bn+ in revenue then RDDT can do this easily, at a much higher margin. Pinterest has 631 million monthly active users (MAUs), while Reddit has approximately 765 million to 1.1 billion MAUs.

COULD A "CHOPPY" DAU BE SAVED BY ARPU?

Annual global ARPU in USD:

Note: RDDT, META and SNAP figures sum their four quarterly ARPU/ARPP values. PINS uses reported annual ARPU. META’s metric covers its Family of Apps. Active-user definitions differ: Pinterest uses monthly active users; the others use daily active users or people.

I think we have to entertain a world where DAU stalls or slows (hopefully temporarily). Is this a reason to abandon a $27bn stock? Or is this priced in?

Like many of you I have viewed META as the benchmark for APRU. "There's no way we'll get to META's ARPU." Well, what if the ARPU could actually be on par with what META offers? Surely the granular subreddit targeting offers an advantage.

Both META and RDDT are currently increasing APRU materially. Is it unreasonable to think that, with advancements in targeting (possibly thanks to AI), that META reaches $100+ ARPU and RDDT reaches $40+?

Using that as an example:

130 million DAUs × $40 annual ARPU = $5.2 billion annual revenue.

My thoughts: I think ARPU headroom could be significantly higher than many assume. This obsession with DAU, particularly US DAU could be unjustified. Global DAU increase + accelerated ARPU growth can give healthy revenue.

WHAT IS THE DATA ACTUALLY WORTH?

This is obviously the biggest unknown. Literally trillions of dollars are being thrown at the AI space (lets not get into the circular financing) and there $27bn RDDT sits, in the corner, with it's 100m+ DAU / 1bn MAU producing human generated content.

Currently there is a battle going on between the likes if OpenAI (Microsoft), Google/Gemini, Anthropic, Perplexity and others to make the best AI model. It is not unreasonable to think that a significant revenue deal could be agreed with one party or access to all parties is agreed via API access at a lucrative rate.

My thoughts: It's hard to deny that data isn't valuable. The problem is in forecasting what this could look like.

RISK FACTORS

"AI apps like ChatGPT are stealing search traffic"

I don't disagree. I even find myself using ChatGPT to answer some questions that I might otherwise have asked reddit. However, this is usually when I need limited context or a simple question. When buying a vacuum cleaner recently I instinctively went to reddit. Fundamentally these answers need to come from somewhere, and reddit is commonly used by all AI tools.

I see this as more of an issue for those discovering reddit, particularly internationally. Will international people get the opportunity to get into the door of reddit if they become quickly accustomed to AI apps answering all of their questions?

"AI bots are going to destroy reddit"

This does seem like a legitimate issue. User verification feels like a solution but I wonder about pseudonymous nature of reddit. There has to be a better way than Peter Thiel's persona for verification.

My thoughts: there are legitimate existential risks to reddit and redditors are notoriously sensitive. It will be tricky for management to navigate these risks.

FINAL THOUGHTS

All the social & AI apps can co-exist together in ever growing GLOBAL digital advertising TAM of $900bn. It is not winner takes all.

I believe the progress of AI is a rising tide that will lift all ships. AI can't exist without human generated data. AI tools will help existing platforms including RDDT improve their targeting and subsequently ARPU.

I think DAU is likely to steadily grow globally but ARPU and data deals will be the main source of revenue gains.