Revenue

3 Months Ended

Mar. 31, 2025

Revenue from Contract with Customer [Abstract]

Revenue

3. Revenue

The following table represents our revenue disaggregated by source:

	Three months ended March 31,
	2025		2024
	(in thousands)
Advertising revenue	$	358,630	$	222,682
Other revenue	33,731		20,281
Total revenue	$	392,361	$	242,963

The following table represents our revenue disaggregated by geography based on the billing address of the customer:

	Three months ended March 31,
	2025		2024
	(in thousands)
United States	$	313,852	$	199,803
Rest of world(1)	78,509		43,160
Total revenue	$	392,361	$	242,963

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(1)Other than the United States, no individual country represented 10% or more of total revenue during the three months ended March 31, 2025 and 2024.

Deferred revenue was $20.8 million and $14.9 million as of March 31, 2025 and December 31, 2024, respectively. For the three months ended March 31, 2025, revenue recognized from the deferred revenue balance at the beginning of the period was $9.1 million. For the three months ended March 31, 2024, revenue recognized from the deferred revenue balance at the beginning of the period was not material.

As of March 31, 2025, the aggregate amount of remaining performance obligations in contracts with an original expected duration exceeding one year is $224.5 million. This amount consists primarily of long-term content licensing contracts and excludes deferred revenue related to short-term advertising contracts and Reddit Premium subscriptions. We expect to recognize $85.9 million in the remainder of 2025, $113.3 million in 2026, and $25.3 million in 2027.