Company: IBTA
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001538379-25-000010
Chunk: 99

Company: Ibotta, Inc.
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 1
Chunk 99
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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 $5.1 million and $5.0 million as of June 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 June 30,Six months ended June 30,2025202420252024Revenue recognized$670 $237 $3,515 $1,660 

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 201