Reddit, Inc.
RDDTQ3 2024(RDDT Q2 FY2024)Derived8.5% AI
AI Revenue %
8.5%
AI Fair Value
$1.0B
AI Revenue (Q)
$23.9M
Total Revenue (Q)
$281.2M
Source: SEC EDGAR 10-Q Filing
View 10-Q on SEC.govAnalysis
RDDT Q2 CY2024 (ended Jun 30, 2024). 10-Q filing. Total revenue $281,184K. Revenue disaggregated: Advertising $253,125K, Other revenue $28,059K. Other revenue grew from $3,549K in Q2 2023 to $28,059K, a $24,510K increase driven by data licensing deals for AI training. Remaining performance obligations grew to $320.3M (from $188.1M in Q1), described as 'primarily long-term data licensing contracts,' indicating new AI data licensing contracts were signed. Reddit Premium/virtual goods ~$4,000K/quarter. Estimated AI data licensing: $28,059K - $4,000K = ~$24,059K. Math: $24,059K / $281,184K = 8.56%, rounded to 8.5%.
Analyzed by claude-opus-4-6
Quoted Figures
Advertising revenue $253,125K; Other revenue $28,059K; Total revenue $281,184K
10-Q for Q ended Jun 30, 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 $320.3 million. This amount consists primarily of long-term data licensing contracts
10-Q for Q ended Jun 30, 2024, Note 3 Revenue
We expect to recognize $58.3 million in the remainder of 2024, $118.2 million in 2025, and the remaining thereafter
10-Q for Q ended Jun 30, 2024, Note 3 Revenue
AI Products Identified (Ring 1)
Reddit Data API (data licensing for AI training)Google AI training data partnershipOpenAI data licensing agreement
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