IBTA · Ibotta, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $82.48M | - | $83.26M | $86.03M | $84.57M | - | $85.29M | $87.93M | $82.33M | - |
| Cost of Revenue | $19.45M | - | $17.14M | $17.93M | $17.09M | - | $12.17M | $9.64M | $10.52M | - |
| Gross Profit | $63.03M | - | $66.12M | $68.10M | $67.48M | - | $86.45M | $75.64M | $71.81M | - |
| R&D | $14.50M | - | $14.02M | $14.74M | $18.07M | - | $16.29M | $17.53M | $13.64M | - |
| SG&A | $23.76M | - | $22.46M | $22.26M | $21.39M | - | $20.63M | $28.71M | $13.15M | - |
| Total Operating Expenses | $73.86M | - | $63.75M | $66.87M | $70.28M | - | $63.64M | $97.30M | $55.91M | - |
| D&A | $2.87M | - | - | - | $2.17M | - | - | - | $1.91M | - |
| Operating Income | ($10.83M) | - | $2.37M | $1.24M | ($2.80M) | - | $20.71M | ($21.66M) | $15.90M | - |
| Interest Expense | - | - | - | - | - | - | $39.0K | $1.98M | $2.80M | - |
| Income Tax | $969.0K | - | $3.72M | $1.38M | ($72.0K) | - | $7.89M | $2.69M | $3.10M | - |
| Net Income | ($10.32M) | - | $1.53M | $2.49M | $555.0K | - | $8.41M | ($33.97M) | $9.30M | - |
| EPS - Basic | ($0.43) | - | $0.05 | $0.09 | $0.02 | - | $0.94 | ($1.32) | $1.00 | - |
| EPS - Diluted | ($0.43) | - | $0.05 | $0.08 | $0.02 | - | $0.51 | ($1.32) | $0.33 | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $164.60M | $186.61M | $223.30M | $250.55M | $297.13M | $349.28M | $341.27M | $317.86M | $62.59M | $35.95M |
| Accounts Receivable | $183.05M | $208.71M | $212.82M | $208.98M | $206.16M | $220.88M | $227.79M | $209.02M | $206.43M | - |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | $7.24M | $10.84M | $15.31M | $10.60M | $11.30M | $7.16M | $8.25M | $5.24M | $8.94M | - |
| Current Assets | $361.00M | $407.93M | $455.46M | $482.65M | $527.99M | $581.74M | $576.06M | $534.23M | $298.34M | - |
| Total Assets | $479.92M | $525.91M | $569.43M | $600.78M | $639.26M | $678.43M | $598.27M | $556.05M | $319.79M | - |
| Current Liabilities | $200.92M | $207.76M | $206.53M | $204.03M | $196.50M | $204.16M | $211.47M | $190.17M | $198.15M | - |
| Long-term Debt | - | $0 | - | - | - | $0 | $0 | $0 | $64.45M | - |
| Total Liabilities | $230.94M | $238.26M | $239.82M | $246.65M | $237.99M | $221.15M | $220.31M | $196.35M | $277.97M | - |
| Stockholders' Equity | $248.98M | $287.65M | $329.61M | $354.13M | $401.28M | $457.28M | $1.27M | $359.70M | ($34.79M) | $10.76M |
| Retained Earnings | ($147.19M) | ($136.87M) | ($135.87M) | ($137.40M) | ($139.89M) | ($140.45M) | ($216.62M) | ($233.86M) | ($209.19M) | - |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $30.37M | - | - | - | $19.86M | - | - | - | $19.37M | - |
| Investing Cash Flow | ($7.06M) | - | - | - | ($4.97M) | - | - | - | ($2.47M) | - |
| Financing Cash Flow | ($45.33M) | - | - | - | ($67.05M) | - | - | - | $9.0K | - |
| CapEx | $3.07M | - | - | - | $1.89M | - | - | - | $152.0K | - |
| Free Cash Flow | $27.31M | - | - | - | $17.97M | - | - | - | $19.21M | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '21 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 76.4% | - | 79.4% | 79.2% | 79.8% | - | 101.4% | 86.0% | 87.2% | - |
| Operating margin | -13.1% | - | 2.8% | 1.4% | -3.3% | - | 24.3% | -24.6% | 19.3% | - |
| EBITDA margin | -9.7% | - | - | - | -0.8% | - | - | - | 21.6% | - |
| Net margin | -12.5% | - | 1.8% | 2.9% | 0.7% | - | 9.9% | -38.6% | 11.3% | - |
| Free cash flow margin | 33.1% | - | - | - | 21.2% | - | - | - | 23.3% | - |
| FCF / Net income | -2.65 | - | - | - | 32.37 | - | - | - | 2.07 | - |
| R&D / Revenue | 17.6% | - | 16.8% | 17.1% | 21.4% | - | 19.1% | 19.9% | 16.6% | - |
| SG&A / Revenue | 28.8% | - | 27.0% | 25.9% | 25.3% | - | 24.2% | 32.7% | 16.0% | - |
| Effective tax rate | - | - | 70.8% | 35.6% | -14.9% | - | 48.4% | - | 25.0% | - |
| Return on assets | -2.2% | - | 0.3% | 0.4% | 0.1% | - | 1.4% | -6.1% | 2.9% | - |
| Return on equity | -4.1% | - | 0.5% | 0.7% | 0.1% | - | 660.9% | -9.4% | -26.7% | - |
| Return on invested capital | - | - | - | - | - | - | 839.5% | -4.8% | 40.2% | - |
| Liquidity | ||||||||||
| Current ratio | 1.80 | 1.96 | 2.21 | 2.37 | 2.69 | 2.85 | 2.72 | 2.81 | 1.51 | - |
| Quick ratio | 1.80 | 1.96 | 2.21 | 2.37 | 2.69 | 2.85 | 2.72 | 2.81 | 1.51 | - |
| Cash ratio | 0.82 | 0.90 | 1.08 | 1.23 | 1.51 | 1.71 | 1.61 | 1.67 | 0.32 | - |
| Leverage | ||||||||||
| Debt / Equity | - | 0.00 | - | - | - | 0.00 | 0.00 | 0.00 | -1.85 | - |
| Debt / Assets | - | 0.00 | - | - | - | 0.00 | 0.00 | 0.00 | 0.20 | - |
| Debt / EBITDA | - | - | - | - | - | - | - | - | 3.62 | - |
| Interest coverage | - | - | - | - | - | - | 530.9x | -10.9x | 5.7x | - |
| Equity multiplier | 1.93 | 1.83 | 1.73 | 1.70 | 1.59 | 1.48 | 469.97 | 1.55 | -9.19 | - |
| Liabilities / Assets | 0.48 | 0.45 | 0.42 | 0.41 | 0.37 | 0.33 | 0.37 | 0.35 | 0.87 | - |
| Efficiency | ||||||||||
| Asset turnover | 0.17 | - | 0.15 | 0.14 | 0.13 | - | 0.14 | 0.16 | 0.26 | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | 810d | - | 933d | 887d | 890d | - | 975d | 868d | 915d | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | 136d | - | 326d | 216d | 241d | - | 247d | 198d | 310d | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | - | - | 557.0x | 457.5x | 2110.0x | - | 120.8x | - | - | - |
| P / B | 2.9x | - | 2.5x | 3.1x | 3.5x | - | 1624.6x | 5.6x | - | - |
| P / S | 8.8x | - | 9.8x | 12.9x | 16.6x | - | 24.2x | 22.7x | - | - |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | -2.5% | - | -2.4% | -2.2% | 2.7% | - | - | - | - | - |
| Revenue CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| Revenue CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Gross profit growth (YoY) | -6.6% | - | -23.5% | -10.0% | -6.0% | - | - | - | - | - |
| Operating income growth (YoY) | -286.4% | - | -88.6% | - | - | - | - | - | - | - |
| Net income growth (YoY) | - | - | -81.8% | - | -94.0% | - | - | - | - | - |
| EPS growth (YoY) | - | - | -90.2% | - | -93.9% | - | - | - | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | 52.0% | - | - | - | -6.5% | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | -38.0% | -37.1% | 25792.3% | -1.5% | - | - | - | - | - | - |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Product / service
$350.63M totalRedemption Revenue$297.24M · 84.8%
Ad Other Revenue$45.15M · 12.9%
Breakage$8.24M · 2.4%
Peer comparison
Same SIC group: Services-Advertising
Comparing Ibotta against the 5 most active filers in the same SIC group.