What is a cash flow waterfall?

A cash flow waterfall is a bar chart that walks from operating cash flow through capital expenditure to free cash flow, then shows how the remaining cash is allocated — acquisitions, buybacks, dividends, debt, and other financing — ending at the net change in cash. Each step is colour-coded: green bars add to the running total, red bars subtract.

How does Reddit (RDDT) spend its free cash flow?

For TTM through Q1 2026, Reddit generated $876M of operating cash flow and $869M of free cash flow — a free cash flow margin of 99.2% of operating cash flow. The waterfall breaks down how the remaining cash was allocated across investing and financing activities.

How much did Reddit (RDDT) return via buybacks and dividends?

The waterfall shows buybacks (share repurchases) and dividends paid as separate steps in the financing section. Together these represent Reddit's shareholder returns for TTM through Q1 2026. You can compare these against free cash flow to assess the capital-return payout ratio.

Reddit (RDDT) Cash Flow Waterfall

Operating CF

$876M

Capex

-$6.82M

Free Cash Flow

$869M

FCF Margin

+99.2%

Cash flow waterfall for Reddit (RDDT) — TTM through Q1 2026

Free cash flow: $869M

Cash flow breakdown for Reddit (RDDT) — TTM through Q1 2026

Line item	Amount	Running total
Operating Cash Flow	$876M	$876M
Capital Expenditure	-$6.82M	$869M
Free Cash Flow	$869M	$869M
Other Investing	-$59.7M	$809M
Other Financing & FX	-$70.4M	$739M
Net Cash Increase	$739M	$739M

Operating Cash Flow$876M
Capital Expenditure-$6.82M
Free Cash Flow$869M
Other Investing-$59.7M
Other Financing & FX-$70.4M
Net Cash Increase$739M

Want to see what drove the FCF change?Free Cash Flow Bridge

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Buybacks0.02% TTM

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