Reddit, the company behind the popular internet forum, is out with its earnings for the first quarter of its fiscal year. Reddit has only been a publicly traded company for a little over a year, and has kicked off its latest fiscal year by beating on revenue,

The strong Q1 comes despite a seasonal step down in advertising from the robust Q4 holiday period. In the prior quarter, Reddit delivered record revenue of $427.7 million, boosted by content licensing deals and initial traction from Reddit Answers, its AI-powered chatbot.