Company: IBTA
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001628280-25-051720
Chunk: 351

Company: Ibotta, Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 2
Chunk 351
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 infrastructure-related software development costs.

Interest income, net

Three months ended September 30,Change20252024$%(in thousands, except percentages)Interest income, net$2,510 $4,436 $(1,926)(43)%

Interest income, net, decreased $1.9 million, or 43%, during the three months ended September 30, 2025 compared to the three months ended September 30, 2024, driven by decreases in cash and cash equivalents and interest rates.

Other income (expense), net

Three months ended September 30,Change20252024$%(in thousands, except percentages)Other income (expense), net$376 $(16)$392 NM(1)

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(1)NM - not meaningful

Other income, net, increased $0.4 million during the three months ended September 30, 2025 compared to the three months ended September 30, 2024, due to the favorable settlement of a tax matter.

Provision for income taxes

Three months ended September 30,Change20252024$%(in thousands, except percentages)Provision for income taxes$3,719 $7,888 $(4,169)(53)%

The provision from income taxes decreased $4.2 million, or 53%, during the three months ended September 30, 2025 compared to the three months ended September 30, 2024, primarily due to the decrease in pre-tax book income.

40

Comparison of the nine months ended September 30, 2025 and 2024

Revenue

Nine months ended September 30,Change20252024$%(in thousands, except percentages)Direct-to-consumer revenueRedemption revenue$72,635 $98,426 $(25,791)(26)%Ad & other revenue35,175 42,449 (7,274)(17)%Total direct-to-consumer revenue107,810 140,875 (33,065)(23)%Third-party publishers revenueRedemption revenue146,053 127,999 18,054 14 %Ad & other revenue— — — — %Total third-party publishers revenue146,053 127,999 18,054 14 %Total Redemption revenue218,688 226,425 (7,737)(3)%Ad & other revenue35,175 42,449 (7,274)(17)%$253,863 $