Reddit, Inc.
RDDTQ2 2024(RDDT Q1 FY2024)Derived6.8% AI
AI Revenue %
6.8%
AI Fair Value
$775.0M
AI Revenue (Q)
$16.5M
Total Revenue (Q)
$243.0M
Source: SEC EDGAR 10-Q Filing
View 10-Q on SEC.govAnalysis
RDDT Q1 CY2024 (ended Mar 31, 2024). 10-Q filing. Total revenue $242,963K. Revenue disaggregated: Advertising $222,682K, Other revenue $20,281K. Other revenue includes data licensing and Reddit Premium/virtual goods. In February 2024, Reddit announced a data licensing deal with Google reportedly worth ~$60M/year specifically for AI model training. This was the first quarter reflecting significant data licensing revenue (Other revenue jumped from $3,660K in Q1 2023 to $20,281K in Q1 2024, a $16,621K increase). Remaining performance obligations of $188.1M described as 'primarily long-term data licensing contracts.' Reddit Premium/virtual goods historically generated ~$3.5-4M/quarter (based on FY2023 Other revenue of $15.2M and FY2022 of $14.1M). Estimated data licensing for AI: $20,281K - ~$4,000K non-AI (Premium/virtual goods) = ~$16,281K AI data licensing. Math: $16,281K / $242,963K = 6.70%, rounded to 6.8%.
Analyzed by claude-opus-4-6
Quoted Figures
Advertising revenue $222,682K; Other revenue $20,281K; Total revenue $242,963K
10-Q for Q ended Mar 31, 2024, Note 3 Revenue, disaggregated by source
the aggregate amount of remaining performance obligations in contracts with an original expected duration exceeding one year is $188.1 million. This amount consists primarily of long-term data licensing contracts
10-Q for Q ended Mar 31, 2024, Note 3 Revenue
Other revenue $3,660K (Q1 2023 comparative period)
10-Q for Q ended Mar 31, 2024, Note 3 Revenue, disaggregated by source
AI Products Identified (Ring 1)
Reddit Data API (data licensing for AI training)Google AI training data partnership
AI-Enabled Items (Ring 2 — Not Counted)
These items use AI but are not counted in the AI revenue estimate because they primarily serve non-AI functions.
Reddit Premium subscriptionsVirtual goods/collectible avatars
Confidence Tier
DerivedCalculated from reported segments primarily serving AI