Company research
RDDT
Reddit, Inc.
Target quarter: Q3 2026 · Earnings date TBD
At a glance · QW setup
Confidence: Low
The QW Revenue Estimate ($879.9M) is usable, but the evidence is not broad enough for a directional call.
QW Revenue Estimate
$879.9M
Named provider observation · Zacks Consensus Estimate · checked 2026-08-24 · +50.4% YoY
Revision: Unknown
No named-provider KPI estimate for this quarter
Operating requirement
Latest DAUq (2026Q2): ~130.3M
Evidence
- CaveatExplicit quarterly revenue guidance midpoint: -1.69% vs Street
Coverage
- Eligible operating evidence vs Street's requirement
- Direct Street segment KPI consensus
QW Revenue Estimate
Revenue expectation
$879.9M
QW Revenue Estimate · 2026Q3 · +50.4% YoY
A named-provider quarterly revenue observation — not a claim that every vendor publishes one identical “Wall Street consensus.”
- Source
- Zacks Consensus Estimate
- Period
- 2026Q3 / ending 2026-09
- Contributing estimates
- 9
- Observed
- 2026-08-24
- Last verified
- 2026-08-24
- Revision
- Unknown
Operating identity
How this company's revenue is modeled
Reddit’s revenue identity is average daily unique users in the quarter (DAUq) times global ARPU (quarterly revenue divided by average DAUq). Quarter Winner translates a revenue estimate into required DAUq at a given ARPU path, or required ARPU at a given DAUq level.
net_sales ≈ dauq_m × arpu
- DAUq is a quarterly average — not a single-day user count.
- No extra ad-mix or segment model is applied beyond the issuer identity.
- Does not invent DAUq or ARPU forecasts
- Uses the company-defined identity only — no extra mix-shift model
Required operating performance
What that estimate requires
A verified revenue estimate is an outcome. Below is what the underlying business would have to deliver for that estimate to be consistent with the registered operating model.
Street ~879.9 implies required DAUq at ARPU scenarios, or required ARPU at latest DAUq, via revenue ≈ DAUq × ARPU (identity n=10, median |error| 0%).
Model confidence: High · historical n=10
- Latest DAUq (2026Q2): ~130.3M
- Latest ARPU (2026Q2): ~$6.2
Scenario breakdown
- required dauq at latest arpu → Required global DAUq at specified ARPU: 142.4M
- required dauq at trailing median arpu → Required global DAUq at specified ARPU: 157M
- required arpu at latest dauq → Required ARPU at specified DAUq: $6.8
Management guidance
What management says
Direct guidance
Explicit quarterly revenue guidance midpoint
Target period: 2026Q3
- Range
- $860M – $870M
- Mid / point
- $865M
- Vs QW Revenue Estimate
- -1.7%
- As of
- 2026-07-30
Quarter Winner reading
How to read this setup
Supports
No material supporting evidence listed.
Against / uncertainty
- Explicit quarterly revenue guidance midpoint: -1.69% vs Street
- Multiple independent factors elevate consensus vulnerability
- High–low range 6.69% of consensus
Still missing
- Eligible operating evidence vs Street's requirement
Since last earnings
Current Evidence
Latest evidence scan unavailable
We could not complete discovery just now. Prior verified items still show when present; this is not a claim that nothing changed.
Model confidence
How reliable the operating model is
High — The operating relationship is highly stable historically.
Historical check: n=10 · median residual 0.0%
Latest reported
What the business last delivered
- Global ARPU
$6.18
2026Q2 · YoY +36.4%
- Global DAUq
130.3M
2026Q2 · YoY +18.0%
Sources & methodology
Detailed provenance for Street, guidance, operating history, and Current Evidence. Setup classification is not a buy or sell call.
- Revenue estimate (2026Q3): Zacks Consensus Estimate · source · observed 2026-08-24 · verified 2026-08-24
- Management guidance: 2026-07-30
- Operating model: kpi:dauq_m
- Operating model: kpi:arpu
- Operating model: street_consensus · link
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