0001538379FALSE001-4201800015383792024-11-132024-11-13


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K

CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): November 13, 2024

Ibotta, Inc.
(Exact name of registrant as specified in its charter)
Delaware
(State or other jurisdiction of
incorporation or organization)
001-42018
(Commission File Number)
35-2426358
(I.R.S. Employer
Identification Number)
1801 California Street, Suite 400
Denver, Colorado
(Address of principal executive offices)
80202
(Zip Code)
303-593-1633
(Registrant’s telephone number, including area code)
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Class A Common Stock, $0.00001 par value per shareIBTANew York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☒
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐


Item 2.02 Results of Operations and Financial Condition

On November 13, 2024, Ibotta, Inc. issued a press release announcing financial results for the third quarter ended September 30, 2024. A copy of the release is furnished with this report as Exhibit 99.1.

The information contained in Item 2.02 of this Current Report on Form 8-K, including the information contained in Exhibit 99.1, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.

Item 9.01    Financial Statements and Exhibits
(d) The following exhibits are being filed herewith:
Exhibit No.Description
99.1
104Cover Page Interactive Data File (embedded within the Inline XBRL document)


SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
IBOTTA, INC.
Date:November 13, 2024By:/s/ Sunit Patel
Sunit Patel
Chief Financial Officer
(Principal Financial Officer)



ibottalogoa.jpg

Ibotta Reports Third Quarter 2024 Financial Results

Grew revenue by 16% year-over-year to $98.6 million and non-GAAP revenue by 19%

Grew redemption revenue by 28% year-over-year and non-GAAP redemption revenue by 32%

Generated net income of $17.2 million, representing net income as a percent of revenue of 17%, and Adjusted EBITDA of $36.5 million, representing a 37% Adjusted EBITDA margin

Generated year-to-date cash from operating activities of $93.9 million and free cash flow of $86.3 million

DENVER, November 13, 2024 (Globe Newswire) -- Ibotta, Inc. (NYSE: IBTA), which operates the largest digital promotions network in North America, today announced financial results for the third quarter ended September 30, 2024.

“Our strong third quarter results were a function of the continued growth of our digital promotions network,” said Ibotta CEO and founder, Bryan Leach. “Ibotta is focused on delivering incremental sales efficiently for our brand partners, particularly as many CPGs are looking for ways of offsetting year-over-year declines in market share.”

Third Quarter 2024 Financial Highlights:

•Total revenue of $98.6 million, representing year-over-year growth of 16%. Excluding a one-time breakage benefit of $2.1 million in the third quarter of 2023, non-GAAP revenue growth was 19%.
•Total redemption revenue of $84.5 million, an increase of 28% year-over-year. Excluding a one-time D2C redemption revenue breakage benefit of $2.1 million in the third quarter of 2023, non-GAAP redemption revenue growth was 32%.
•During the quarter, the IPN had 15.3 million redeemers, compared to 9.4 million redeemers in the third quarter of 2023, an increase of 63% year-over-year. The primary driver of year-over-year growth was the expansion of the Walmart program (which initially launched in the third quarter of 2022 to members of Walmart’s paid membership program, Walmart+) to all Walmart customers with a Walmart.com account in the third quarter of 2023.
•Increased redemptions to 97.4 million, compared to 67.9 million in the third quarter of 2023, an increase of 43% year-over-year.
•Generated net income of $17.2 million, representing net income as a percent of revenue of 17%, and adjusted net income of $31.4 million, representing adjusted net income as a percent of revenue of 32%.
•Delivered Adjusted EBITDA of $36.5 million, representing an Adjusted EBITDA margin of 37%.


•Generated cash from operating activities of $39.5 million and free cash flow of $36.7 million.
•Repurchased 0.3 million shares for a total of $15.6 million at an average price per share of $56.77, exclusive of immaterial broker commissions and legal costs.

The following table summarizes the Company’s consolidated financial results for the three and nine months ended September 30, 2024 and 2023:

Three months ended September 30,Nine months ended September 30,
20242023% Change20242023% Change
(in thousands, except per share figures and percentages)
GAAP Results
Redemption revenue$84,485 $66,007 28 %$226,425 $165,981 36 %
Revenue$98,621 $85,287 16 %$268,874 $220,363 22 %
Net income (loss)$17,239 $8,413 105 %$(7,430)$19,471 (138)%
Net income (loss) per share, diluted$0.51 $0.31 65 %$(0.34)$0.73 (147)%
Net income (loss) as a percent of revenue17 %10 %(3)%9 %
Non-GAAP Results
Non-GAAP redemption revenue$84,485 $63,887 32 %$226,425 $153,291 48 %
Non-GAAP revenue$98,621 $83,167 19 %$268,874 $207,673 29 %
Adjusted EBITDA$36,519 $24,139 51 %$84,452 $49,850 69 %
Adjusted EBITDA margin37 %28 %31 %23 %
Adjusted net income$31,409 $19,167 64 %$66,666 $36,580 82 %
Adjusted net income per share, diluted$0.94 $0.71 32 %$2.71 $1.37 98 %


The following table summarizes the Company’s performance metrics for the three and nine months ended September 30, 2024 and 2023:

Three months ended September 30,Nine months ended September 30,
20242023% Change20242023% Change
(in thousands, except per share figures and percentages)
Performance Metrics
Redemptions:
Direct-to-consumer redemptions31,571 37,884 (17)%87,819 105,034 (16)%
Third-party publisher redemptions65,795 29,972 120 %161,728 57,296 182 %
Total redemptions97,366 67,856 43 %249,547 162,330 54 %
Redeemers:
Direct-to-consumer redeemers1,909 2,117 (10)%1,879 2,002 (6)%
Third-party publisher redeemers13,378 7,234 85 %11,946 4,448 169 %
Total redeemers15,287 9,351 63 %13,825 6,449 114 %
Redemptions per redeemer:
Direct-to-consumer redemptions per redeemer16.517.9(8)%46.752.5(11)%
Third-party publisher redemptions per redeemer4.94.120 %13.512.95 %
Total redemptions per redeemer6.47.3(12)%18.025.2(29)%
Redemption revenue per redemption:
Direct-to-consumer redemption revenue per redemption$1.05 $1.15 (9)%$1.12 $1.18 (5)%
Third-party publisher redemption revenue per redemption$0.78 $0.75 4 %$0.79 $0.74 7 %
Total redemption revenue per redemption$0.87 $0.97 (10)%$0.91 $1.02 (11)%

Note that certain figures shown above may not recalculate due to rounding.

Third Quarter 2024 Business Highlights:

•Enabled digital offers at Schnuck Markets Inc. (Schnucks) and subsequent to quarter end, integrated our offers with Schnucks’ electronic shelf labels. Ibotta and Schnucks began collaborating on research and development initiatives related to novel ways of delivering personalized savings to consumers.
•During the quarter, Ibotta and Instacart entered into a multi-year strategic partnership to bring Instacart customers savings on their groceries.
•Subsequent to quarter-end, we began testing and piloting digital offers on Instacart properties. We continue to expect that we will be fully launched by the end of the year.








Financial Guidance:

Fourth quarter 2024 outlook summary:

•Revenue of $100 - $106 million, a year-over-year increase of 4% at the midpoint on a non-GAAP basis excluding the breakage benefit during the fourth quarter of 2023.
•Adjusted EBITDA of $30 - $34 million, representing a margin of 31% at the midpoint.

Guidance for Adjusted EBITDA is earnings before interest (income) expense, net, provision for (benefit from) income tax, and depreciation and amortization, and excludes stock-based compensation, change in fair value of derivative, loss on debt extinguishment, and other expense, net. We have not reconciled Adjusted EBITDA to GAAP net income because we do not provide guidance on GAAP net income and would not be able to present the various reconciling cash and non-cash items between the GAAP and non-GAAP financial measures since certain items that impact these measures are uncertain or out of our control, or cannot be reasonably predicted, including share-based compensation expense, without unreasonable effort. The actual amounts of such reconciling items could have a significant impact on the Company's GAAP net income.

Use of Non-GAAP Financial Information

Included within this press release are the non-GAAP financial measures of non-GAAP revenue, non-GAAP redemption revenue, adjusted EBITDA, adjusted EBITDA margin, adjusted net income, adjusted net income as a percent of revenue, adjusted diluted net income per share and free cash flow that supplement the condensed financial statements of the Company prepared under generally accepted accounting principles (GAAP). The non-GAAP financial information is presented for supplemental informational purposes only and is not intended to be considered in isolation or as a substitute for, or superior to, financial information prepared and presented in accordance with GAAP. Please see the accompanying tables for reconciliations of these non-GAAP financial measures to their nearest GAAP equivalents.

Non-GAAP revenue and non-GAAP redemption revenue exclude the breakage benefit. Adjusted EBITDA is earnings before interest (income) expense, net, provision for (benefit from) income tax, and depreciation and amortization, and excludes stock-based compensation, change in fair value of derivative, loss on debt extinguishment, and other expense, net. Adjusted EBITDA margin is calculated as Adjusted EBITDA as a percent of revenue. Adjusted net income excludes stock-based compensation, loss on debt extinguishment, change in fair value of derivative, and the related income tax effects. The income tax effect of non-GAAP adjustments is the difference between GAAP and non-GAAP income tax expense. Non-GAAP income tax expense is computed on non-GAAP pre-tax income (GAAP pre-tax income adjusted for non-GAAP adjustments). Adjusted diluted net income per share is calculated as adjusted net income divided by diluted weighted average common shares outstanding. Free cash flow is defined as cash provided by operating activities, less additions to property and equipment and capitalization of software development costs.

The Company's management believes that these non-GAAP measures can assist investors in evaluating the Company's operational trends, financial performance, and cash-generating capacity. Management believes these non-GAAP measures allow investors to evaluate the Company’s financial performance using some of the same measures as management. Investors


are cautioned that there are material limitations associated with the use of non-GAAP financial measures versus their nearest GAAP equivalents. Other companies may calculate non-GAAP financial measures differently or may use other measures to evaluate their performance, all of which could reduce the usefulness of our non-GAAP financial measures as tools for comparison.



Third Quarter 2024 Financial Results Webcast and Conference Call Details

When:
Wednesday, November 13, 2024 at 2:30 p.m. MT/ 4:30 p.m. ET
Live Call:US/Canada: 877-405-1211; International: +1 215-268-9896
Webcast:ir.ibotta.com
Audio replay:An audio replay of the call will be available beginning about two hours after the call. To listen to the replay in the United States please dial 877-660-6853 (replay code 13749717). Outside of the United States, please dial 201-612-7415.

Key Business Terms and Notes

Ibotta Performance Network (IPN): An AI-enabled technology platform that allows CPG brands to deliver digital promotions to consumers via a network of publishers, in a coordinated fashion and on a fee-per-sale basis.

One-time Breakage Benefit: On the Company’s balance sheet, the Company has a user redemption liability balance that is an accumulation of direct-to-consumer redeemers’ account balances net of estimated breakage. Consumers’ accounts that have no activity for six months are considered inactive and charged a $3.99 per month maintenance fee (i.e., breakage) until the balance is reduced to zero or new activity ensues. Every month the user redemption liability increases by the amount credited to D2C redeemers for redemptions and is offset by D2C redeemer cash outs, actual inactivity maintenance fees, and estimated breakage. The Company estimates breakage at the time of user redemption and reduces the user redemption liability accordingly. In 2023, the Company made an update to fix a software error to correctly charge maintenance fees to all inactive D2C redeemers on a go-forward basis. This change resulted in a short-term benefit to U.S. GAAP revenue in 2023. For the three and nine months ended September 30, 2023, the breakage benefit to revenue totaled $2.1 million and $12.7 million, respectively. There was no breakage benefit associated with the three and nine months ended September 30, 2024.

Redeemers: A consumer who has redeemed at least one digital offer within the quarter. If a consumer were to redeem on more than one publisher during that period, they would be counted as multiple redeemers. Year-to-date redeemers are calculated as the average of current year quarter-to-date redeemers.

Redemptions: A verified purchase of an item qualifying for an offer by a client on the IPN.

Redemption Revenue: The Company’s customers promote their products and services to consumers through cash back offers on the IPN. The Company earns a fee per redemption, which is recognized in the period in which the redemption occurred. The Company may also charge fees to set up a redemption campaign which are deferred and recognized over the average duration of historical redemption campaigns.





About Ibotta ("I bought a...")

Ibotta (NYSE: IBTA) is a leading performance marketing platform allowing brands to deliver digital promotions to over 200 million consumers through a network of publishers called the Ibotta Performance Network (IPN). The IPN allows marketers to influence what people buy, and where and how often they shop – all while paying only when their campaigns directly result in a sale. American shoppers have earned over $2.0 billion through the IPN since 2012. The largest tech IPO in history to come out of Colorado, Ibotta is headquartered in Denver, and is continually listed as a top place to work by The Denver Post and Inc. Magazine.

Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any statements relating to expectations concerning matters that are not historical facts may constitute forward-looking statements. Forward-looking statements may include, without limitation, statements regarding our expectation that we will be fully launched on Instacart by the end of the year, and the Company’s financial guidance, such as revenue and Adjusted EBITDA. When words such as “believe,” “expect,” “anticipate,” “will”, “outlook” or similar expressions are used, the Company is making forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, it cannot give readers any assurance that such expectations will prove correct. These forward-looking statements involve risks, uncertainties and assumptions, including those related to the Company’s relatively limited operating history, which makes it difficult to evaluate the Company’s business and prospects, the demands and expectations of clients and the ability to attract and retain clients. The actual results may differ materially from those anticipated in the forward-looking statements as a result of numerous factors, many of which are beyond the control of the Company. These and other factors are disclosed in the Company’s reports filed from time to time with the Securities and Exchange Commission, available at www.sec.gov. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company does not intend to update any forward-looking statement contained in this press release to reflect events or circumstances arising after the date hereof, except as required by law.



Ibotta, Inc.
CONDENSED STATEMENTS OF OPERATIONS
(In thousands, except share and per share amounts)
(unaudited)
Three months ended September 30,Nine months ended September 30,
2024202320242023
Revenue$98,621 $85,287 $268,874 $220,363 
Cost of revenue(1)
12,172 10,777 34,970 31,671 
Gross profit86,449 74,510 233,904 188,692 
Operating expenses(1):
Sales and marketing(2)
27,761 37,639 105,908 81,449 
Research and development16,285 12,391 47,452 36,306 
General and administrative20,631 12,109 62,493 38,180 
Depreciation and amortization1,065 1,501 3,096 3,015 
Total operating expenses65,742 63,640 218,949 158,950 
Income from operations20,707 10,870 14,955 29,742 
Interest income (expense), net4,436 (1,556)5,303 (4,773)
Loss on debt extinguishment— — (9,630)— 
Other expense, net(16)(1,511)(3,132)(3,252)
Income before (provision for) benefit from income taxes25,127 7,803 7,496 21,717 
(Provision for) benefit from income taxes(7,888)610 (14,926)(2,246)
Net income (loss)$17,239 $8,413 $(7,430)$19,471 
Net income (loss) per share:
Basic$0.56 $0.94 $(0.34)$2.19 
Diluted$0.51 $0.31 $(0.34)$0.73 
Weighted average common shares outstanding:
Basic30,663,2638,960,31121,909,9498,887,966
Diluted33,567,48926,830,52421,909,94926,629,394

(1)Amounts include stock-based compensation expense as follows (in thousands):

Three months ended September 30,Nine months ended September 30,
2024202320242023
Cost of revenue$476 $151 $999 $504 
Sales and marketing(2)
4,347 9,627 34,777 10,749 
Research and development2,447 523 7,036 1,560 
General and administrative6,405 474 20,525 1,546 
Total stock-based compensation expense$13,675 $10,775 $63,337 $14,359 

(2)Stock-based compensation expense included in sales and marketing includes common stock warrant expense of $2.2 million and $27.1 million recognized during the three and nine months ended September 30, 2024, respectively, and $9.1 million recognized during the three and nine months ended September 30, 2023.










Ibotta, Inc.
CONDENSED BALANCE SHEETS
(In thousands)
September 30, 2024December 31, 2023
(unaudited)
Assets
Current Assets:
Cash and cash equivalents$341,274 $62,591 
Accounts receivable, net227,792 226,439 
Prepaid expenses and other current assets6,992 9,314 
Total current assets576,058 298,344 
Property and equipment, net2,057 2,541 
Capitalized software development costs, net15,437 12,844 
Equity investment4,531 4,531 
Other long-term assets183 1,530 
Total assets$598,266 $319,790 
Liabilities, Redeemable Convertible Preferred Stock, and Stockholders’ Equity
Current liabilities:
Accounts payable$8,251 $8,937 
Due to third-party publishers96,337 73,155 
Deferred revenue4,756 2,628 
User redemption liability80,032 84,531 
Accrued expenses18,500 24,582 
Other current liabilities3,596 4,317 
Total current liabilities211,472 198,150 
Long-term liabilities:
Long-term debt, net— 64,448 
Convertible notes derivative liability— 25,400 
Other long-term liabilities8,836 3,864 
Total liabilities220,308 291,862 
Redeemable convertible preferred stock— — 
Stockholders’ equity:
Preferred stock— — 
Common stock— — 
Class A common stock— — 
Class B common stock— — 
Additional paid-in capital610,263 237,116 
Treasury stock(15,687)— 
Accumulated deficit(216,618)(209,188)
Total stockholders' equity 377,958 27,928 
Total liabilities, redeemable convertible preferred stock, and stockholders' equity$598,266 $319,790 


Ibotta, Inc.
CONDENSED STATEMENTS OF CASH FLOWS
(In thousands)
(unaudited)
Nine months ended September 30,
20242023
Operating activities
Net (loss) income$(7,430)$19,471 
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization6,160 5,749 
Impairment of capitalized software development costs437 130 
Stock-based compensation expense36,253 5,307 
Common stock warrant expense27,084 9,052 
Credit loss expense1,217 441 
Loss on extinguishment of debt9,630 — 
Amortization of debt discount and issuance costs1,036 2,475 
Change in fair value of convertible notes derivative liability3,085 3,200 
Other36 51 
Changes in assets and liabilities:
Accounts receivable(2,561)(63,270)
Other current and long-term assets(977)472 
Accounts payable188 826 
Due to third-party publishers23,182 26,215 
Accrued expenses(5,926)(2,773)
Deferred revenue2,128 955 
User redemption liability(4,499)(7,936)
Other current and long-term liabilities4,887 (1,317)
Net cash provided by (used in) operating activities93,930 (952)
Investing activities
Additions to property and equipment(655)(372)
Additions to capitalized software development costs(7,001)(5,871)
Maturities of short-term investments— 27,900 
Net cash (used in) provided by investing activities(7,656)21,657 
Financing activities
Proceeds from exercise of stock options7,649 1,154 
Proceeds from initial public offering, net206,692 — 
Deferred offering costs(5,972)(4)
Purchase of treasury stock(15,611)— 
Taxes paid related to net share settlement of equity awards(246)— 
Other financing activities(103)— 
Net cash provided by financing activities192,409 1,150 
Net change in cash and cash equivalents278,683 21,855 
Cash and cash equivalents, beginning of period62,591 17,818 
Cash and cash equivalents, end of period$341,274 $39,673 









The following table disaggregates the Company’s direct-to-consumer and third-party publishers revenue by redemption and ad & other revenue:

Supplemental Revenue Detail

Three months ended September 30,Nine months ended September 30,
20242023% Change20242023% Change
(in thousands, except percentages)
Direct-to-consumer revenue
Redemption revenue$33,144 $43,620 (24)%$98,426 $123,421 (20)%
Ad & other revenue14,136 19,280 (27)%42,449 54,382 (22)%
Total direct-to-consumer revenue47,280 62,900 (25)%140,875 177,803 (21)%
Third-party publishers revenue
Redemption revenue51,341 22,387 129 %127,999 42,560 201 %
Ad & other revenue— — — %— — — %
Total third-party publishers revenue51,341 22,387 129 %127,999 42,560 201 %
Total
Redemption revenue84,485 66,007 28 %226,425 165,981 36 %
Ad & other revenue14,136 19,280 (27)%42,449 54,382 (22)%
Total revenue$98,621 $85,287 16 %$268,874 $220,363 22 %























Non-GAAP Financial Metrics
(In thousands, except shares, per share amounts, and percentages)
The following tables show the Company’s non-GAAP financial metrics reconciled to the comparable GAAP financial metrics included in this release:

Reconciliation of Adjusted EBITDA

Three months ended September 30,Nine months ended September 30,
2024202320242023
Net income (loss)$17,239 $8,413 $(7,430)$19,471 
Add (deduct):
Interest (income) expense, net(4,436)1,556 (5,303)4,773 
Depreciation and amortization 2,137 2,494 6,160 5,749 
Stock-based compensation13,675 10,775 63,337 14,359 
Change in fair value of derivative— 1,500 3,085 3,200 
Loss on debt extinguishment— — 9,630 — 
Provision for (benefit from) income taxes7,888 (610)14,926 2,246 
Other expense, net 16 11 47 52 
Adjusted EBITDA$36,519 $24,139 $84,452 $49,850 
Revenue$98,621 $85,287 $268,874 $220,363 
Net income (loss) as a percent of revenue17 %10 %(3)%9 %
Adjusted EBITDA margin37 %28 %31 %23 %

Reconciliation of Adjusted Net Income
Three months ended September 30,Nine months ended September 30,
2024202320242023
Net income (loss)$17,239 $8,413 $(7,430)$19,471 
Stock-based compensation13,675 10,775 63,337 14,359 
Loss on debt extinguishment— — 9,630 — 
Change in fair value of derivative— 1,500 3,085 3,200 
Adjustment for income taxes495 (1,521)(1,956)(450)
Adjusted net income$31,409 $19,167 $66,666 $36,580 
Revenue$98,621 $85,287 $268,874 $220,363 
Adjusted net income as a percent of revenue32 %22 %25 %17 %
Weighted average common shares outstanding, diluted33,567,48926,830,52421,909,94926,629,394
Net income (loss) per share, diluted$0.51 $0.31 $(0.34)$0.73 
Adjusted weighted average common shares outstanding, diluted
33,567,48926,830,52424,598,95626,629,394
Adjusted net income per share, diluted$0.94 $0.71 $2.71 $1.37 












Non-GAAP Financial Metrics
(In thousands, except shares, per share amounts, and percentages)
Reconciliation of Non-GAAP Revenue
Three months ended September 30,Nine months ended September 30,
2024202320242023
Revenue$98,621 $85,287 $268,874 $220,363 
Breakage benefit— (2,120)— (12,690)
Non-GAAP revenue$98,621 $83,167 $268,874 $207,673 


Reconciliation of Non-GAAP Redemption Revenue
Three months ended September 30,Nine months ended September 30,
2024202320242023
Redemption revenue$84,485 $66,007 $226,425 $165,981 
Breakage benefit— (2,120)— (12,690)
Non-GAAP redemption revenue$84,485 $63,887 $226,425 $153,291 


Reconciliation of Free Cash Flow
Three months ended September 30,Nine months ended September 30,
2024202320242023
Net cash provided by (used in) operating activities$39,544 $(2,023)$93,930 $(952)
Additions to property and equipment(302)(170)(655)(372)
Additions to capitalized software development costs(2,565)(2,311)(7,001)(5,871)
Free cash flow$36,677 $(4,504)$86,274 $(7,195)























Contact

Corporate Communications
Hilary O’Byrne, hilary.obyrne@ibotta.com

Investor Relations
Shalin Patel, shalin.patel@ibotta.com

v3.24.3
Cover
Nov. 13, 2024
Cover [Abstract]  
Document Type 8-K
Document Period End Date Nov. 13, 2024
Entity Registrant Name Ibotta, Inc.
Entity Incorporation, State or Country Code DE
Entity Tax Identification Number 35-2426358
Entity Address, Address Line One 1801 California Street
Entity Address, Address Line Two Suite 400
Entity Address, City or Town Denver
Entity Address, State or Province CO
Entity Address, Postal Zip Code 80202
City Area Code 303
Local Phone Number 593-1633
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Title of 12(b) Security Class A Common Stock, $0.00001 par value per share
Trading Symbol IBTA
Security Exchange Name NYSE
Entity Emerging Growth Company true
Entity Ex Transition Period false
Entity Central Index Key 0001538379
Amendment Flag false
Entity File Number 001-42018
Grafico Azioni Ibotta (NYSE:IBTA)
Storico
Da Ott 2024 a Nov 2024 Clicca qui per i Grafici di Ibotta
Grafico Azioni Ibotta (NYSE:IBTA)
Storico
Da Nov 2023 a Nov 2024 Clicca qui per i Grafici di Ibotta