RDDT
Reddit, Inc.
RDDT has the edge over SPHR overall, supported by stronger modeled upside and stronger fundamentals.
SPHR
Sphere Entertainment Co.
SPHR has lower modeled downside risk, despite its lower overall score.
RDDT Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Strong | |
| Strong | |
| Strong |
RDDT's revenue, profitability, cash flow and balance sheet are all currently healthy.
SPHR Fundamentals
| Metric | Status |
|---|---|
| Stable | |
| Under pressure | |
| Strong | |
| Under pressure |
SPHR's cash flow is currently strong, and its revenue is stable, but its profitability and balance sheet are under pressure.
RDDT PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Forward | 16x | $99.55 | — |
| Current | 20x | $99.55 | — |
| Cheap | 35x | $171 | +72% |
| Fair | 46x | $228 | +129% |
| Expensive | 53x | $262 | +163% |
Historical ranges are pointers, not guarantees.
RDDT's PE is 20x, but its earnings don't support one, so it isn't a reliable read right now.
SPHR PE Valuation
SPHR has no meaningful PE right now: it lost money over the past year.
RDDT Forward outlook
| Metric | Outlook |
|---|---|
| Strongly improving | |
| Strong growth | |
| Strong growth | |
| Strongly improving | |
| Moderate | |
| Low |
RDDT has the edge over SPHR on the outlook, with more favorable revenue expectations.
SPHR Forward outlook
| Metric | Outlook |
|---|---|
| -- | |
| Losses shrinking | |
| Stable | |
| Strongly improving | |
| Limited | |
| Low |
Analysts expect SPHR's losses to shrink, with revenue holding steady. However, they disagree widely on these estimates.
RDDT Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $6.32 | +29% |
| Q3 2024 | -$7.98 | -$7.17 |
| Q2 2024 | -$8.19 | -$7.15 |
| Q1 2024 | -$8.38 | -$7.25 |
| Q4 2023 | -$0.56 | +$0.41 |
| Q3 2023 | -$0.81 | -$0.02 |
| Q2 2023 | -$1.04 | -$0.48 |
| Q1 2023 | -$1.13 | -$0.48 |
| Q4 2022 | -$0.97 | -$0.19 |
RDDT has the stronger earnings trend. Trailing diluted EPS is down 39% for RDDT versus SPHR down 168%.
SPHR Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Q3 2026 | -$3.53 | +$1.64 |
| Q2 2026 | -$1.49 | +$3.83 |
| Q1 2026 | $2.97 | +$13.01 |
| Q4 2025 | $0.74 | +$9.84 |
| Q3 2025 | -$5.17 | +$5.35 |
| Q2 2025 | -$5.32 | +$0.36 |
| Q1 2025 | -$10.04 | -191% |
| Q4 2024 | -$9.10 | -178% |
SPHR is still losing money, but far less than before: $3.53 per share over the past year, against $10.52 at its worst in late 2024.
RDDT Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $895M | +53% |
| Q2 2026 | $804.9M | +61% |
| Q1 2026 | $663.4M | +69% |
| Q4 2025 | $725.6M | +70% |
| Q3 2025 | $584.9M | +68% |
| Q2 2025 | $499.6M | +78% |
| Q1 2025 | $392.4M | +61% |
| Q4 2024 | $427.7M | +71% |
RDDT has the edge over SPHR on sales, with more consistent year-over-year improvement.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | 29% | +5.5 points |
| Q2 2026 | 29% | +15 points |
| Q1 2026 | 28% | +27 points |
| Q4 2025 | 32% | +20 points |
| Q3 2025 | 24% | +22 points |
| Q2 2025 | 14% | +25 points |
| Q1 2025 | 1% | +244 points |
| Q4 2024 | 12% | +11 points |
RDDT has the edge over SPHR on profitability, with a higher operating margin.
SPHR Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q3 2026 | $274.3M | +4.5% |
| Q2 2026 | $313.6M | +11% |
| Q1 2026 | $386.4M | +38% |
| Q4 2025 | $394.3M | +28% |
| Q3 2025 | $262.5M | +15% |
| Q2 2025 | $282.7M | +3.4% |
| Q1 2025 | $280.6M | -13% |
| Q4 2024 | $308.3M | -1.9% |
SPHR's revenue has grown year over year for six quarters in a row: $274M last quarter, up 4.5% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q3 2026 | -88% | -38 points |
| Q2 2026 | -20% | -1.8 points |
| Q1 2026 | 1.9% | +30 points |
| Q4 2025 | 7.3% | +54 points |
| Q3 2025 | -49% | +2.2 points |
| Q2 2025 | -18% | +8.4 points |
| Q1 2025 | -28% | N/A |
| Q4 2024 | -46% | N/A |
SPHR's operating margin was −88% last quarter, down 38 points from the same quarter a year ago.
RDDT Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $362.6M | +98% |
| Q2 2026 | $260.7M | +135% |
| Q1 2026 | $311.2M | +146% |
| Q4 2025 | $263.6M | +196% |
| Q3 2025 | $183.1M | +161% |
| Q2 2025 | $110.8M | +308% |
| Q1 2025 | $126.6M | +333% |
| Q4 2024 | $89.2M | +$111.2M |
RDDT has the edge over SPHR on cash flow, with more consistent year-over-year improvement.
SPHR Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q3 2026 | $56.9M | -51% |
| Q2 2026 | -$33.7M | +$25.4M |
| Q1 2026 | $136.2M | +2046% |
| Q4 2025 | $180.2M | +614% |
| Q3 2025 | $115.8M | +240% |
| Q2 2025 | -$59.1M | +$13.4M |
| Q1 2025 | $6.3M | -94% |
| Q4 2024 | $25.3M | -46% |
SPHR generated $340M in free cash flow over the past year, about four times what it generated the year before.
RDDT Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.1% | -169K shares |
| 1 year | -0.4% | -868K shares |
| 3 years | +24% | +38.5M shares |
| 5 years | +24% | +38.5M shares |
RDDT has 202M diluted shares, about the same as a year ago.
| Quarter | Spent |
|---|---|
| Q3 2026 | $100.4M |
| Q2 2026 | $234.6M |
| Q1 2026 | $5M |
| Q4 2023 | — |
| Q3 2023 | — |
| Q2 2023 | — |
| Q1 2023 | $4.2M |
| Q4 2022 | — |
SPHR Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | +0.5% | +186K shares |
| 1 year | -19% | -8.5M shares |
| 3 years | +4% | +1.4M shares |
| 5 years | -30% | -15.9M shares |
SPHR has the edge over RDDT on shareholder dilution, with a more favorable share count trend.
| Quarter | Spent |
|---|---|
| Q4 2025 | $16,000 |
| Q4 2024 | $1.3M |
| Q1 2020 | — |
| Q4 2019 | — |
RDDT Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | -1.5x | Net Cash |
| Q2 2026 | -1.9x | Net Cash |
| Q1 2026 | -2.2x | Net Cash |
| Q4 2025 | -2.1x | Net Cash |
| Q3 2025 | -3.3x | Net Cash |
| Q2 2025 | -5.0x | Net Cash |
| Q1 2025 | -13.1x | Net Cash |
RDDT has the edge over SPHR on leverage, with a lower net debt burden relative to earnings.
SPHR Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q3 2026 | 3.4x | Elevated |
| Q2 2026 | 1.3x | Healthy |
| Q1 2026 | 0.9x | Very low |
| Q4 2025 | 2.9x | Moderate |
| Q3 2025 | 4.2x | High |
| Q2 2025 | 4.2x | High |
| Q1 2025 | 8.2x | High |
| Q4 2022 | 15.9x | High |
SPHR's net debt is about 3.4 years of its operating earnings (EBITDA), down from 4.2 years a year ago.
RDDT Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 34.8 | Neutral |
| Stochastic | 6.5 | Oversold |
RDDT's weekly RSI is 35 (neutral) and its Stochastic is 6 (oversold).
SPHR Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 47.2 | Neutral |
| Stochastic | 23.2 | Neutral |
SPHR's weekly RSI is 47 (neutral) and its Stochastic is 23 (neutral).
RDDT PE vs Communication Services Sector
| Metric | RDDT | Sector median | Relative |
|---|---|---|---|
| PE | 20x | 16x | 23% above |
| PE % | 5 | 23 | 18 pts below |
RDDT is trading at 20x earnings, a 23% premium to the Communication Services sector's median of 16x, though its earnings don't support one.
SPHR PE vs Communication Services Sector
| Metric | SPHR | Sector median | Relative |
|---|---|---|---|
| PE | N/A | 16x | — |
SPHR has no meaningful PE right now: it lost money over the past year.
RDDT Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $130.6 | 24% below |
| 20 week MA | $151.7 | 34% below |
| 50 week MA | $165.0 | 40% below |
| 100 week MA | $167.1 | 40% below |
SPHR has stronger trend alignment. RDDT is above 0 of 4 weekly averages versus SPHR above 3 of 5.
SPHR Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $117.6 | 5.1% above |
| 20 week MA | $136.7 | 9.5% below |
| 50 week MA | $125.4 | 1.4% below |
| 100 week MA | $85.6 | 44% above |
| 200 week MA | $60.9 | 103% above |
SPHR's trend is mixed: it's above three of its five weekly moving averages, and 103% above its 200-week average.
RDDT Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2024 | $46.0 | $173.5 | +277% |
| 2025 | $173.5 | $225.8 | +30% |
| 2026 YTD | $225.8 | $99.6 | -56% |
RDDT has finished every year since 2024 higher, and it's down 56% so far in 2026.
SPHR Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $40.9 | $40.7 | -0.3% |
| 2021 | $40.7 | $32.8 | -19% |
| 2022 | $32.8 | $19.9 | -39% |
| 2023 | $19.9 | $34.0 | +71% |
| 2024 | $34.0 | $38.1 | +12% |
| 2025 | $38.1 | $93.4 | +145% |
| 2026 YTD | $93.4 | $123.7 | +32% |
SPHR has the edge over RDDT on returns for 2026, with the stronger performance.