Reddit, Inc. (NYSE:RDDT) Q2 2024 Results Conference Call August 6, 2024 5:00 PM ET

Company Participants

Jesse Rose - Head of Investor Relations
Steve Huffman - Co-Founder & Chief Executive Officer
Jen Wong - Chief Operating Officer
Drew Vollero - Chief Financial Officer

Conference Call Participants

Doug Anmuth - JPMorgan
Laura Martin - Needham & Company
Ron Josey - Citi
Brian Nowak - Morgan Stanley
Eric Sheridan - Goldman Sachs
Rich Greenfield - LightShed
Andrew Boone - JMP Securities
Tom Champion - Piper Sandler
Daniel Salmon - New Street Research
Benjamin Black - Deutsche Bank
Alan Gould - Loop Capital

Operator

Good afternoon. My name is Krista, and I will be your conference operator today. At this time, I would like to welcome everyone to Reddit's Second Quarter 2024 Earnings Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. [Operator Instructions] Thank you.

I would now like to turn the call over to Jesse Rose, Head of Investor Relations. Jesse, you may begin your conference.

Jesse Rose

Great. Thanks, Krista. Good afternoon, everyone. Welcome to Reddit's second quarter 2024 earnings conference call. Joining me today are Steve Huffman, Reddit's Co-Founder and CEO; Jen Wong, Reddit's COO; and Drew Vollero, Reddit's CFO.

Before we get started, I'd like to remind you that our remarks today will include forward-looking statements. Actual results may vary materially from those contemplated by these forward-looking statements. Information concerning risks, uncertainties and other factors that could cause these results to differ is included in our SEC filings.

These forward-looking statements represent our outlook only as of the date of this call. We undertake no obligation to revise or update any forward-looking statements. During this call, we will discuss both GAAP and non-GAAP financial measures. Reconciliation of GAAP to non-GAAP financial measures is set forth in our letter to shareholders. Our second quarter letter to shareholders and accompanying earnings press release are available on our Investor Relations website at investor.redditinc.com and investor relations subreddit, RDDT.

And now I'll turn the call over to Steve.

Steve Huffman

Hi, everyone. Thank you for joining, and welcome to our second quarter earnings call. Q2 was another strong quarter for Reddit in our communities. We kept up our momentum with both strong business performance and progress on the product. In Q2, both users and revenue grew over 50% year-over-year. And for the second consecutive quarter, we had positive cash flow and we're profitable on an adjusted EBITDA basis.