Company: IBTA
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001538379-25-000010
Chunk: 144

Company: Ibotta, Inc.
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 8
Chunk 144
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 2024, the Company recorded no adjustments to the equity investment. Since inception, the Company has recorded positive cumulative adjustments in the equity investment of $8.3 million and negative cumulative adjustments of $4.5 million. 

7. Operating Leases

The Company’s leases primarily include office space for its corporate headquarters. Our current headquarters lease expires in October 2025, and in November 2024, we executed a noncancelable operating lease for a new headquarters space that expires in February 2036. The new headquarters lease commenced during the six months ended June 30, 2025, and we recognized an initial long-term lease liability of $24.2 million, an operating lease asset of $11.0 million, and a lease incentive receivable of $13.2 million. The lease incentive receivable is the amount for which the landlord will reimburse the Company for certain leasehold improvements provided for under the lease agreement. The new lease includes options to extend through 2056 that we are not reasonably certain to exercise and are excluded from the lease term.

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

The components of lease cost were as follows (in thousands):Three months ended June 30,Six months ended June 30,2025202420252024Operating lease cost$784 $270 $1,397 $539 Short-term lease cost27 10 39 20 Variable lease cost207 302 534 628 Total lease cost, net$1,018 $582 $1,970 $1,187 Supplemental cash flow information related to operating leases was as follows (in thousands):Six months ended June 30,20252024Cash paid for amounts included in the measurement of lease liabilities:Operating cash flows for operating leases$970 $951 Right-of-use assets obtained in exchange for lease obligations$10,951 $— Supplemental balance sheet information related to operating leases was as follows (in thousands):ClassificationJune 30, 2025December 31, 2024Assets:Right-of-use assets – currentPrepaid expenses and other current assets$340 $831 Lease incentive receivablePrepaid expenses and other current assets11,708 — Right-of-use assets – long-termOperating lease assets10,357 — Total lease assets$22,405 $831 Liabilities:Operating lease liabilities – currentOther current liabilities$