Reddit, Inc.
RDDTQ3 2025(RDDT Q2 FY2025)Estimated6% AI
AI Revenue %
6%
AI Fair Value
$490.5M
AI Revenue (Q)
$31.4M
Total Revenue (Q)
$524.1M
Source: SEC EDGAR 10-Q Filing
View 10-Q on SEC.govAnalysis
RDDT Q2 CY2025 (ended Jun 30, 2025). 10-Q filing. Total revenue $499,627K (78% YoY growth). Six-month revenue $891,988K. The filing extraction does not include the revenue disaggregation note, so the advertising/other revenue split is not directly available. Advertising revenue is growing exceptionally fast (revenue up 78% YoY while FY2024 Other revenue grew ~652% from low base). Based on RPO schedule and stable data licensing contracts, estimated quarterly content licensing of ~$30-32M, less ~$4M Reddit Premium = ~$28,000K AI data licensing. The AI revenue percentage is declining because advertising is growing much faster than the relatively fixed data licensing contracts. Math: $28,000K / $499,627K = 5.60%, rounded to 6.0% (slight upward adjustment for potential new licensing deals signed in 2025). Confidence 'estimated' because disaggregated revenue not available in extracted filing text.
Analyzed by claude-opus-4-6
Quoted Figures
Revenue was $499.6 million for the three months ended June 30, 2025, an increase of 78% year over year
10-Q for Q ended Jun 30, 2025, Item 2 MD&A
Six months ended June 30, 2025 Revenue $891,988K
10-Q for Q ended Jun 30, 2025, Consolidated Statements of Operations
AI Products Identified (Ring 1)
Reddit Data API (content 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
EstimatedNo direct AI revenue disclosure — estimated from product mix