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RDDT Reddit, Inc.

(in thousands, except share amounts)

Total Convertible Preferred Stock	Common Stock			Additional Paid-in Capital			Accumulated Other Comprehensive Income (Loss)			Accumulated Deficit			Total Stockholders’ Deficit
Class A			Class B			Shares			Amount			Shares			Amount			Shares			Amount			Balance as of December 31, 2021			73,021,449			$			1,853,492	5,166,855	$			—	51,212,674	$			6	$	181,407	$	(238)	$	(467,188)	$	(286,013)	Issuance of common stock upon exercise of stock options, net	—			—			976,178	—			197,437	—			7,034	—	—	7,034	Issuance of restricted stock awards	—			—			174,056	—			—	—			—	—	—	—	Issuance of common stock upon settlement of restricted stock units, net	—			—			2,786	—			—	—			(105)	—	—	(105)	Issuance of Class A common stock in connection with acquisitions	—			—			62,061	—			—	—			4,522	—	—	4,522	Stock-based compensation expense	—			—			—	—			—	—			55,310	—	—	55,310	Vesting of early exercised stock options	—			—			—	—			—	—			2,292	—	—	2,292	Net income (loss)	—			—			—	—			—	—	(158,550)	(158,550)	Change in other comprehensive income (loss)	—			—			—	—			—	—			—	(3,554)	—	(3,554)	Balance as of December 31, 2022	73,021,449			$			1,853,492	6,381,936	$			—	51,410,111	$			6	$	250,460	$	(3,792)	$	(625,738)	$	(379,064)	Issuance of common stock upon exercise of stock options, net	—			—			489,959	—	2,494,093	—	8,390	—	—	8,390	Issuance of common stock upon settlement of restricted stock units, net	—			—			227,805	—	—	—	(4,320)	—	—	(4,320)	Stock-based compensation expense	—			—			—	—	—	—	47,598	—	—	47,598	Vesting of early exercised stock options	—			—			—	—	—	—	692	—	—	692	Net income (loss)	—			—			—	—	—	—	—	—	(90,824)	(90,824)	Change in other comprehensive income (loss)	—			—			—	—	—	—	—	4,606	—	4,606	Balance as of December 31, 2023	73,021,449			$			1,853,492	7,099,700	$			—	53,904,204	$			6	$	302,820	$	814	$	(716,562)	$	(412,922)	Issuance of common stock upon exercise of stock options, net	—			—			10,979,938	—	4,038,255	—	88,972	—	—	88,972	Issuance of common stock upon settlement of restricted stock units, net	—			—			11,501,630	1	1,002,455	—	(294,572)	—	—	(294,571)	Conversion of Class B common stock to Class A common stock	—			—			71,548,247			8			(71,548,247)			(8)			—			—			—			—			Conversion of redeemable convertible preferred stock to common stock in connection with initial public offering	(73,021,449)			(1,853,492)			5,104,017			1			67,917,432			7	1,853,486	—	—	1,853,494	Issuance of common stock in connection with initial public offering, net of underwriting discounts and commissions and other offering costs	—			—			18,576,527			2			—			—	576,266	—	—	576,268	Issuance of Class A common stock in connection with acquisitions	—			—			191,821	—	—	—	2,786	—	—	2,786	Stock-based compensation expense	—			—			—	—	—	—	801,646	—	—	801,646	Vesting of early exercised stock options	—			—			—	—	—	—	142	—	—	142	Net income (loss)	—			—			—	—	—	—	—	—	(484,276)	(484,276)	Change in other comprehensive income (loss)	—			—			—	—	—	—	—	(790)	—	(790)	Balance as of December 31, 2024	—			$			—	125,001,880	$			12	55,314,099	$			5	$	3,331,546	$	24	$	(1,200,838)	$	2,130,749

RDDT Reddit, Inc.

December 31, 2023
Fair value hierarchy level			Cost or amortized cost			Gross unrealized gains			Gross unrealized losses			Fair value
(in thousands)
Cash equivalents:			Money market funds			Level 1			$			345,555	$	—	$	—	$	345,555	Commercial paper	Level 2			9,994			—	(9)	9,985	Marketable securities:	U.S. treasury securities			Level 1			426,734			697	(188)	427,243	U.S. agency bonds	Level 2			77,535			13	(34)	77,514	Non-U.S. government securities	Level 2			21,723			10	(27)	21,706	Corporate bonds	Level 2			94,725			310	(81)	94,954	Certificates of deposit	Level 2			2,810			—	(1)	2,809	Commercial paper	Level 2			187,596			148	(24)	187,720	Total	$			1,166,672	$	1,178	$	(364)	$	1,167,486

RDDT Reddit, Inc.

The components of lease cost were as follows:

Year ended December 31,
2024			2023			2022
(in thousands)
Operating lease cost			$	7,231	$	13,062	$	11,077	Short-term lease cost	3,324		3,857	4,291	Variable lease cost	278		749	781	Total lease costs	$	10,833	$	17,668	$	16,149

RDDT Reddit, Inc.

For the years ended December 31, 2024, 2023, and 2022, income tax expense (benefit) consisted of the following:

Year ended December 31,
2024			2023			2022
(in thousands)
Current income tax expense (benefit):			Federal			$	(141)	$	1,290	$	859	State	474		1,133	610	Foreign	851		1,468	1,231	Total current income tax expense (benefit)	1,184		3,891	2,700	Deferred income tax expense (benefit):	Federal			(237)		—	(1,767)	Foreign	(1,878)		(90)	(311)	Total deferred income tax expense (benefit)	(2,115)		(90)	(2,078)	Total income tax expense (benefit)	$	(931)	$	3,801	$	622

RDDT Reddit, Inc.

Adjusted cost of revenue is cost of revenue adjusted for stock-based compensation and related taxes and depreciation and amortization as follows:

Year ended December 31,
2024			2023			2022
(in thousands)
Cost of revenue			$	123,595	$	111,011	$	104,799	Less:	Stock-based compensation and related taxes			620		101	133	Depreciation and amortization	—		152	714	Adjusted cost of revenue	$	122,975	$	110,758	$	103,952

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