Company: IBTA
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001538379-25-000010
Chunk: 143

Company: Ibotta, Inc.
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 8
Chunk 143
---
, including limitations on additional indebtedness, creation of liens, restricted payments, investments and certain transactions with affiliates. The Company is also subject to financial covenants to maintain a minimum Consolidated Interest Coverage Ratio of 3.0 to 1.0 and a maximum Consolidated Net Leverage Ratio of 3.0 to 1.0. In addition, the 2024 Credit Facility contains other customary covenants, representations and warranties, and events of default.As of June 30, 2025, the Company had no outstanding borrowings under the 2024 Credit Facility and availability of $99.0 million, which is net of a $1.0 million outstanding letter of credit related to an office 

15

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

space lease. Refer to Note 14 – Commitments and Contingencies for further discussion of the Company’s letters of credit.

6. Fair Value Measurements 

The following tables present information about financial instruments measured at fair value on a recurring basis (in thousands): June 30, 2025TotalLevel 1Level 2Level 3Assets: Cash equivalents$247,651 $247,651 $— $— Total $247,651 $247,651 $— $— December 31, 2024TotalLevel 1Level 2Level 3Assets:Cash equivalents$346,070 $346,070 $— $— Total $346,070 $346,070 $— $— The Company’s cash equivalents are held in money market funds, which are measured using quoted prices for identical assets in active markets and are therefore classified as Level 1 in the fair value hierarchy.Equity InvestmentOn July 2, 2019, the Company acquired 628,930 shares of the Series A Preferred Stock of a privately held software company in exchange for cash consideration of $0.8 million. The investment represents a minority interest, and the Company has determined that it does not have significant influence over the company. The preferred shares comprising the investment are illiquid, and the fair value is not readily determinable. The Company has elected the measurement alternative to measure this investment at cost, less impairments, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment. 

During the three and six months ended June 30, 2025 and