IBTA (Ibotta, Inc.) Stock Financials & Earnings | Market Cap Arena

IBTA (Ibotta, Inc.) Stock Financials & Earnings | Market Cap Arena

IBTAIbotta, Inc.

Mkt Cap$648M

Technology·Software - Application·🇺🇸 United States·NYSE

Revenue (TTM)$342M

Net Income (TTM)$16M

EPS (TTM)$0.11

Free Cash Flow (TTM)$72M

Gross Margin79.2%

Op. Margin-0.2%

Net Margin4.7%

FCF Margin20.9%

P/S Ratio (TTM)1.9x

P/E Ratio (TTM)40.2x

YoY Rev Growth-6.8%

Employees—

Earnings Reports

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$58M	$46M	-$942K
Q2 23	$77M	$68M	$20M
Q3 23	$85M	$73M	$11M
Q4 23	$100M	$87M	$26M
Q1 24	$82M	$72M	$16M
Q2 24	$88M	$76M	-$22M
Q3 24	$99M	$86M	$21M
Q4 24	$98M	$83M	$13M
Q1 25	$85M	$67M	-$3M
Q2 25	$86M	$68M	$1M
Q3 25	$83M	$65M	$2M
Q4 25	$89M	$70M	-$2M

Valuation

Quarter	P/S	P/E
Q1 23	2.9x	—
Q2 23	2.5x	—
Q3 23	2.3x	45.3x
Q4 23	2.0x	17.0x
Q1 24	1.9x	12.5x
Q2 24	1.8x	271.2x
Q3 24	1.8x	57.8x
Q4 24	1.8x	9.4x
Q1 25	1.8x	10.8x
Q2 25	1.8x	6.7x
Q3 25	1.8x	8.0x
Q4 25	1.9x	40.2x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	$3M	$2M
Q2 23	-$2M	-$4M
Q3 23	-$2M	-$5M
Q4 23	$24M	$22M
Q1 24	$19M	$17M
Q2 24	$31M	$31M
Q3 24	$40M	$37M
Q4 24	$22M	$19M
Q1 25	$20M	$18M
Q2 25	$26M	$19M
Q3 25	$22M	$15M
Q4 25	$28M	$20M

Capital Expenditures

CapEx

Quarter	CapEx
Q1 23	$1M
Q2 23	$3M
Q3 23	$2M
Q4 23	$2M
Q1 24	$2M
Q2 24	$201K
Q3 24	$3M
Q4 24	$3M
Q1 25	$2M
Q2 25	$7M
Q3 25	$7M
Q4 25	$8M

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	+30.9%	-12.2%
Q2 23	+65.2%	-3.5%
Q3 23	+59.4%	+22.2%
Q4 23	+50.4%	+15.3%
Q1 24	+42.7%	+13.3%
Q2 24	+13.6%	+90.3%
Q3 24	+15.6%	+4.7%
Q4 24	-1.3%	+16.3%
Q1 25	+2.7%	+31.5%
Q2 25	-2.2%	-22.6%
Q3 25	-15.6%	+3.8%
Q4 25	-10.0%	+5.6%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$2M	3.2%
Q2 23	$2M	2.3%
Q3 23	$2M	2.0%
Q4 23	$2M	1.7%
Q1 24	$2M	2.2%
Q2 24	$0	0.0%
Q3 24	$11M	11.6%
Q4 24	$11M	10.8%
Q1 25	$14M	16.3%
Q2 25	$11M	13.3%
Q3 25	$10M	12.5%
Q4 25	$13M	14.5%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q1 23	$12M	$13M	$22M
Q2 23	$12M	$13M	$22M
Q3 23	$12M	$12M	$38M
Q4 23	$14M	$13M	$33M
Q1 24	$14M	$13M	$28M
Q2 24	$18M	$29M	$50M
Q3 24	$16M	$21M	$28M
Q4 24	$16M	$20M	$33M
Q1 25	$18M	$21M	$30M
Q2 25	$15M	$22M	$29M
Q3 25	$14M	$22M	$27M
Q4 25	$14M	$22M	$34M

Rule of 40

Rule of 40

Quarter	Rev Growth %	EBITDA Margin %	Rule of 40
Q1 23	30.9%	-1.4%	29.5
Q2 23	65.2%	27.7%	92.9
Q3 23	59.4%	15.7%	75.1
Q4 23	50.4%	25.4%	75.8
Q1 24	42.7%	19.6%	62.3
Q2 24	13.6%	-22.2%	-8.6
Q3 24	15.6%	23.2%	38.8
Q4 24	-1.3%	16.9%	15.6
Q1 25	2.7%	3.1%	5.9
Q2 25	-2.2%	5.7%	3.6
Q3 25	-15.6%	7.8%	-7.8
Q4 25	-10.0%	3.1%	-7.0

War Chest

Quarter	Cash	Short-term Investments	Total
Q4 23	$63M	$0	$63M
Q1 24	$79M	$0	$79M
Q2 24	$318M	$0	$318M
Q3 24	$341M	$0	$341M
Q4 24	$349M	$0	$349M
Q1 25	$297M	$0	$297M
Q2 25	$251M	$0	$251M
Q3 25	$223M	$0	$223M
Q4 25	$187M	$0	$187M

Shares Outstanding

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	30M	+0.0%
Q2 23	30M	+0.0%
Q3 23	30M	+0.0%
Q4 23	30M	+0.0%
Q1 24	30M	+0.0%
Q2 24	31M	+1.2%
Q3 24	34M	+9.7%
Q4 24	34M	+0.1%
Q1 25	33M	-1.1%
Q2 25	30M	-8.4%
Q3 25	31M	+1.9%
Q4 25	26M	-15.3%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 22	—	—
FY 23	—	—
FY 24	$415K	886
FY 25	$386K	886