Company: IBTA
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001628280-25-051720
Chunk: 150

Company: Ibotta, Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 8
Chunk 150
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 offers collected from clients that will be applied to future campaigns. Deferred revenue is expected to be recognized as consumers redeem offers over the term of the campaigns, net of the cash back offer, which generally occurs within 12 months. Deferred revenue was $4.7 million and $5.0 million as of September 30, 2025 and December 31, 2024, respectively. Revenue recognized from deferred revenue at the beginning of the year is as follows (in thousands):Three months ended September 30,Nine months ended September 30,2025202420252024Revenue recognized$618 $27 $4,133 $1,687 

10. Stock-Based Compensation 

Stock-Based Compensation ExpenseThe Company’s stock-based compensation expense is recorded as follows (in thousands):Three months ended September 30,Nine months ended September 30,2025202420252024Cost of revenue$622 $476 $1,904 $999 Sales and marketing(1)4,133 4,347 14,135 34,777 Research and development2,381 2,447 8,028 7,036 General and administrative5,486 6,405 15,949 20,525 Total stock-based compensation expense$12,622 $13,675 $40,016 $63,337 _______________(1)Sales and marketing includes common stock warrant expense of $2.3 million and $2.2 million recognized during the three months ended September 30, 2025 and 2024, respectively, and $6.6 million and $27.1 million recognized during the nine months ended September 30, 2025 and 2024, respectively. See Note 8 – Stockholders’ Equity. 

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

The Company capitalized $0.3 million and $0.8 million of stock-based compensation expense to capitalized software development costs during the three and nine months ended September 30, 2025, respectively. The Company capitalized $0.1 million and $0.3 million of stock-based compensation expense to capitalized software development costs during the three and nine months ended September 30, 2024, respectively.Equity Incentive PlanIn April 2024, the Company’s board of directors approved the 2024 Equity Incentive