Company: IBTA
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001538379-25-000010
Chunk: 123

Company: Ibotta, Inc.
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 1
Chunk 123
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%(in thousands, except percentages)Research and development$32,814 $31,167 $1,647 5 %

Research and development increased $1.6 million, or 5%, during the six months ended June 30, 2025 compared to the six months ended June 30, 2024, due to increases of $1.1 million in stock-based compensation expense and $0.7 million in other personnel costs driven by restructuring charges. The increase in stock-based compensation expense was driven by a $3.4 million increase in recurring equity compensation, partially offset by decreases of $1.5 million related to equity awards with a liquidity event-based vesting condition that was satisfied in connection with the IPO and $0.8 million related to a higher allocation of personnel costs to cost of revenue due to continued investment in our infrastructure.

General and administrative

Six months ended June 30,Change20252024$%(in thousands, except percentages)General and administrative$43,650 $41,862 $1,788 4 %

General and administrative increased $1.8 million, or 4%, during the six months ended June 30, 2025 compared to the six months ended June 30, 2024, due to increases of $2.4 million in professional fees largely attributable to legal matters, $0.8 million in bad debt expense, $0.8 million in facilities costs due to 

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the commencement of a new office space lease in the first quarter of 2025, $0.6 million in other personnel-related costs, including $0.3 million of restructuring charges, $0.5 million in software licensing costs, and $0.4 million in corporate insurance. These increases were partially offset by a $3.7 million decrease in stock-based compensation expense driven by decreases of $8.0 million related to equity awards with a liquidity event-based vesting condition that was satisfied in connection with the IPO and $1.6 million from the reversal of previously recognized expense for unvested equity awards related to the departure of the Company’s chief financial officer in March 2025, partially offset by a $6.0 million increase in recurring equity compensation.

Depreciation and amortization

Six months ended June 30,Change20252024$%(in thousands, except percentages)Depreciation and amortization$2,020 $2,031 $(11)(1)%

Depreciation and amortization