Company: IBTA
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001628280-25-008240
Chunk: 30

Company: Ibotta, Inc.
Filing Date: 2025-02-27
Form: 10-K
Item: Item 8
Chunk 30
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 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. The equity investment is classified as Level 3 in the fair value hierarchy. During the years ended December 31, 2024 and 2023, the Company recorded no adjustments to the equity investment. During the year ended December 31, 2022, the Company determined that deterioration in both general market conditions and the industry in which the company operates represented a qualitative indicator of impairment. The Company used a market approach to estimate the fair value of the investment, which requires judgment and the use of unobservable inputs, including investee financial results and comparable market data of public companies. We remeasured the investment to $4.5 million as of December 31, 2022, and recorded a $4.5 million impairment charge in other expense, net. No upward adjustments were recorded during the year ended December 31, 2022. 

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. 

8. Operating Leases

The Company leases office space under a noncancelable operating lease with an expiration date of October 31, 2025 and an option to renew through 2030, which is not expected to be exercised. The lease contains provisions for variable property-related costs for which the Company is responsible, including common area maintenance, property taxes, and insurance. 

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Table of ContentsIbotta, Inc.Notes to Financial Statements

The components of lease cost are as follows (in thousands):Year ended December 31,202420232022Operating lease cost$1,078 $1,078 $1,262 Short-term lease cost36 34 12 Variable lease cost1,277 1,267 1,316 Total lease cost, net$2,391 $2,379 $2,590 Supplemental cash flow information related to operating leases was as follows (in thousands):Year ended December 31,202420232022Cash paid for amounts included in the measurement of lease liabilities:Operating cash flows for operating leases$1,908 $1,854 $2,012 Supplemental balance sheet information related to operating leases was as follows (in thousands, except weighted average information):