Company: IBTA
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001538379-25-000010
Chunk: 150

Company: Ibotta, Inc.
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 8
Chunk 150
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660 

10. Stock-Based Compensation 

Stock-Based Compensation ExpenseThe Company’s stock-based compensation expense is recorded as follows (in thousands):Three months ended June 30,Six months ended June 30,2025202420252024Cost of revenue$625 $365 $1,282 $523 Sales and marketing(1)4,873 26,808 10,002 30,430 Research and development2,500 4,036 5,647 4,589 General and administrative5,644 13,608 10,463 14,120 Total stock-based compensation expense$13,642 $44,817 $27,394 $49,662 _______________(1)Sales and marketing includes common stock warrant expense of $2.1 million and $21.9 million recognized during the three months ended June 30, 2025 and 2024, respectively, and $4.3 million and $24.9 million recognized during the six months ended June 30, 2025 and 2024, respectively. See Note 8 – Stockholders’ Equity. The Company capitalized an immaterial amount of stock-based compensation expense to capitalized software development costs during the three and six months ended June 30, 2025 and 2024. 

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Table of ContentsIbotta, Inc.Notes to Condensed Financial Statements(unaudited)

Equity Incentive PlanIn April 2024, the Company’s board of directors approved the 2024 Equity Incentive Plan (2024 Plan), which became effective in connection with the IPO. The 2024 Plan provides for the grant of stock options, restricted stock, RSUs, stock appreciation rights, performance units, and performance shares to eligible employees, directors, and consultants. The 2011 Equity Incentive Plan (2011 Plan), which terminated effective immediately prior to the effectiveness of the 2024 Plan, provided for the grant of various stock awards to employees of the Company, including incentive stock options, nonqualified stock options, and RSUs.Stock OptionsA summary of option activity for the six months ended June 30, 2025 is as follows: OptionsWeighted Average Exercise PriceWeighted Average Remaining Contractual Term (in years)Aggregate Intrinsic Value (in thousands)Options outstanding as of December 31, 20243,279,483$15.49 6.5$162,641 Exercised(