Company: IBTA
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001538379-25-000010
Chunk: 338

Company: Ibotta, Inc.
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 2
Chunk 338
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 are subject to global economic conditions. Our revenue depends on the ability of consumers to buy products that are featured on the IPN. Deteriorating macroeconomic conditions, including as a result of regulatory and economic uncertainty, slower growth or a recession, inflation, changes in the perception of macroeconomic conditions, changes in U.S. government policies, bank failures, supply chain disruption, increases in interest rates, increases to fuel and other energy costs or vehicle costs, a potential U.S. federal government shutdown, geopolitical events, including escalated, escalating, and retaliatory tariff and non-tariff trade measures imposed by the U.S., Mexico, China, Canada and other countries, the potential for new or unforeseen conflicts, changes in the labor market, or decreases in consumer spending power or confidence, could lower promotional budgets and result in a decline in client spending which could adversely affect the number of offer redemptions on our network.

Management continues to actively monitor the impact of these macroeconomic factors on our financial condition, liquidity, operations, and workforce. For more information on risks associated with macroeconomic conditions, see the risk factor titled “Macroeconomic conditions, including slower growth or a recession and supply chain disruptions, have previously affected and could continue to adversely affect our business, financial condition, results of operations, and prospects.”

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Table of Contents

Financial and Operational Highlights

Three months ended June 30,Six months ended June 30,2025202420252024(in thousands, except percentages, per redeemer, and per redemption figures)Redemptions(1) 80,484 80,715 163,324 152,181 Redeemers(1)17,336 13,702 17,213 13,095 Redemptions per redeemer(1) 4.6 5.9 9.5 11.6 Redemption revenue per redemption(1) $0.91 $0.92 $0.90 $0.93 Revenue$86,029 $87,926 $170,603 $170,253 Gross profit$68,104 $75,643 $135,586 $147,455 Gross margin79 %86 %79 %87 %Net income (loss)$2,490 $(33,966)$3,045 $(24,669)Net income (loss) as a percent of revenue3 %(39)%2 %(14