Equity Long-Short, Semiconductors, Fabricated Knowledge

Douglas O'Laughlin

Equity Long-Short, Semiconductors

Fabricated Knowledge

Learn more about the world's most important manufactured product. Meaningful insight, timely analysis, and an occasional investment idea.

Thematic (Sector/Industry)

<ul><li>If you pay attention, the Internet has been a bit different lately. Many of the attributes and ways we once interacted with the internet is changing.</li><li>I probably noticed it the most when one of my favorite websites, subredditstats.com showed me this image the other day.</li><li>Reddit’s free API is closing. But so is X (formerly Twitter), and other properties all around the internet are slowly adding limits and closing their doors.</li></ul>

If you pay attention, the Internet has been a bit different lately. Many of the attributes and ways we once interacted with the internet is changing.I probably noticed it the most when one of my favorite websites, subredditstats.com showed me this image the other day.Reddit’s free API is closing. But so is X (formerly Twitter), and other properties all around the internet are slowly adding limits and closing their doors.

US-EU Index Rebalances / Quantitative Researcher

Dimitris Ioannidis

Global Financial Data and Analytics Platform

ORTEX

ORTEX is a global financial data and analytics platform providing real-time securities lending and short interest data, index rebalance data, holdings and insider transactions, trading signals, corporate actions and news,  stock machine learning and factor scores and other analytics. The majority of the data are downloadable and accessible through APIs.

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/reddit-inc" target="_blank" data-smartkarma-citation="entities:40917:1" rel="noopener">Reddit (RDDT US)</a> is ineligible for inclusion for the upcoming August review because of fcap failing the fcap threshold if it qualifies for the standard segment. </li>
<li>
<a href="https://www.smartkarma.com/entities/reddit-inc" target="_blank" data-smartkarma-citation="entities:40917:1" rel="noopener">Reddit (RDDT US)</a> is ineligible for inclusion for the upcoming September review because of failing the minimum public voting rights threshold.</li>
<li>The IPO lock-up expiry increases the probability for inclusion in November and December review for US and Global indices. Forecasted demand in December is ~$360m and 2.1 ADV. </li>
</ul>



Reddit (RDDT US) is ineligible for inclusion for the upcoming August review because of fcap failing the fcap threshold if it qualifies for the standard segment. 

Reddit (RDDT US) is ineligible for inclusion for the upcoming September review because of failing the minimum public voting rights threshold.
The IPO lock-up expiry increases the probability for inclusion in November and December review for US and Global indices. Forecasted demand in December is ~$360m and 2.1 ADV. 


Reddit (RDDT): Post-IPO Inclusion in US & Global Indices

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Reddit, Inc. reported a strong start to 2026 with its first quarter revenue reaching $663 million, a 69% increase year-over-year, marking the seventh consecutive quarter of over 60% revenue growth.</li><li>Advertising revenue, which represents the majority of total revenue, grew 74% to $625 million, supported by broad-based strength across retail, consumer packaged goods, technology, and media sectors.</li><li>The company’s average revenue per user rose 44% to $5.23, driven by both increased impressions and improved pricing dynamics, reflecting investments in machine learning for signal optimization and new ad formats.</li></ul>

Reddit, Inc. reported a strong start to 2026 with its first quarter revenue reaching $663 million, a 69% increase year-over-year, marking the seventh consecutive quarter of over 60% revenue growth.Advertising revenue, which represents the majority of total revenue, grew 74% to $625 million, supported by broad-based strength across retail, consumer packaged goods, technology, and media sectors.The company’s average revenue per user rose 44% to $5.23, driven by both increased impressions and improved pricing dynamics, reflecting investments in machine learning for signal optimization and new ad formats.

Reddit: What’s Powering the Next Wave of User Growth, Ad Dollars, and Global Expansion?

<ul><li>Reddit's fourth-quarter 2025 earnings report presents a comprehensive picture of the company's recent successes and challenges, highlighting both positive strides and areas that may invite scrutiny from investors.</li><li>Reddit achieved a noteworthy revenue mark of $726 million for the quarter, reflecting a robust 70% year-over-year increase, and its full-year revenue totaled $2.2 billion, marking a growth of 69%.</li><li>This substantial revenue boost was primarily driven by a 75% rise in advertising revenue, spurred by advancements in machine learning and new ad formats.</li></ul>

Reddit's fourth-quarter 2025 earnings report presents a comprehensive picture of the company's recent successes and challenges, highlighting both positive strides and areas that may invite scrutiny from investors.Reddit achieved a noteworthy revenue mark of $726 million for the quarter, reflecting a robust 70% year-over-year increase, and its full-year revenue totaled $2.2 billion, marking a growth of 69%.This substantial revenue boost was primarily driven by a 75% rise in advertising revenue, spurred by advancements in machine learning and new ad formats.

Reddit: AI Alliances With Google & OpenAI—A Strategic Leap Into the Future of Search and Discovery!

Smartkarma AI Primers, Smartkarma

αSK Primers

Smartkarma AI Primers

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

<ul>
 <li>
<a href="https://smartkarma.com/entities/reddit-inc">Reddit </a>is demonstrating a powerful growth trajectory, with rapidly scaling revenue, improving profitability, and expanding user monetization, positioning itself as a key data provider in the artificial intelligence economy.</li>
 <li>The company's recent financial performance has been impressive, with a significant Q3 2025 earnings beat, showcasing accelerating operating leverage, surging advertiser demand, and strong user monetization.</li>
 <li>While facing risks related to the sustainability of its AI licensing revenue and reliance on advertising, Reddit's ambitious product roadmap, global expansion plans, and deep AI integration present significant opportunities for new revenue streams.</li>
</ul>This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.


  
Reddit is demonstrating a powerful growth trajectory, with rapidly scaling revenue, improving profitability, and expanding user monetization, positioning itself as a key data provider in the artificial intelligence economy.
  The company's recent financial performance has been impressive, with a significant Q3 2025 earnings beat, showcasing accelerating operating leverage, surging advertiser demand, and strong user monetization.
  While facing risks related to the sustainability of its AI licensing revenue and reliance on advertising, Reddit's ambitious product roadmap, global expansion plans, and deep AI integration present significant opportunities for new revenue streams.
This content is AI-generated and displayed for general informational purposes only. Please verify independently before use.

United States

Reddit, Inc. operates as an online discussion platform. The Company publicizes online items recommended by members and aggregates news stories submitted by users. Reddit serves customers worldwide.

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Reddit (RDDT US)

The Internet as You Know It Is Dying

Humans are not alone on the internet anymore. That will change the Internet as you know it. If you pay attention, the Internet has been a bit...

Fabricated Knowledge

Reddit (RDDT): Post-IPO Inclusion in US & Global Indices

RDDT US is expected to be added to footsie global and rasel at the March 2025 and June 2025 review, respectively with ~119.7m shares and 84.8% free...

Dimitris Ioannidis

Reddit: What’s Powering the Next Wave of User Growth, Ad Dollars, and Global Expansion?

Reddit, Inc. reported a strong start to 2026 with its first quarter revenue reaching $663 million, a 69% increase year-over-year, marking the...

Baptista Research

Reddit: AI Alliances With Google & OpenAI—A Strategic Leap Into the Future of Search and Discovery!

Reddit's fourth-quarter 2025 earnings report presents a comprehensive picture of the company's recent successes and challenges, highlighting both...

Baptista Research

Primer: Reddit (RDDT US) - Nov 2025

Reddit is demonstrating a powerful growth trajectory, with rapidly scaling revenue, improving profitability, and expanding user monetization,...

αSK Primers

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