Company: IBTA
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001628280-25-051720
Chunk: 127

Company: Ibotta, Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 1
Chunk 127
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 time through open market repurchases or through privately negotiated transactions subject to market conditions, applicable legal requirements, and other relevant factors. Open market repurchases may be structured to occur in accordance with the requirements of Rule 10b-18 under the Exchange Act. The Company may also, from time to time, enter into Rule 10b5-1 plans to facilitate repurchases of shares of its Class A common stock under this authorization. The Company is not obligated under the Share Repurchase Program to acquire any particular amount of Class A common stock, and the Company may terminate or suspend the Share Repurchase Program at any time. The timing and actual number of shares repurchased may depend on a variety of factors, including price, general business and market conditions, and alternative investment opportunities. 

During the three and nine months ended September 30, 2025, the Company repurchased 1,448,325 and 4,737,252 shares, respectively, of its Class A common stock for an aggregate repurchase amount of $39.1 million and $180.7 million, respectively. The repurchase amount includes immaterial broker commissions and the 1% excise tax on net share repurchases imposed by the Inflation Reduction Act of 2022. Repurchases are reflected as treasury stock on the condensed balance sheets on a trade-date 

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basis. As of September 30, 2025, $89.9 million remains available and authorized for repurchase under the Share Repurchase Program. 

Cash Flows

The following table summarizes our cash flows for the periods presented:

Nine months ended September 30,20252024(in thousands)Net cash provided by operating activities$67,469 $93,930 Net cash used in investing activities(23,128)(7,656)Net cash (used in) provided by financing activities(170,677)192,409 Net change in cash, cash equivalents, and restricted cash$(126,336)$278,683 

Operating Activities

Our collection cycles can vary based on payment practices from our clients, and we are required to pay our third-party publishers within a contractual timeframe, regardless of whether we have collected payment from our client. As a result, timing of cash receipts related to accounts receivable and due to third-party publishers can vary from period to period and significantly impact our cash provided by operating activities for any period.

Net cash provided by operating activities decreased $26.5 million during the nine months ended September 30, 2025 compared to the