Company: IBTA
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001628280-25-025593
Chunk: 141

Company: Ibotta, Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 8
Chunk 141
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1.00 Net income per share, diluted$0.02 $0.33 The following potentially dilutive common shares, presented based on amounts outstanding, were excluded from the computation of diluted net income per share because their effect would have been antidilutive for the periods presented, or issuance of such shares is contingent upon the satisfaction of certain conditions which were not satisfied by the end of the period:Three months ended March 31,20252024Stock options— 386,359 RSUs1,090,115 304,472 Unvested shares of restricted stock purchase— 88,295 Common stock warrant4,121,034 3,528,577 Total shares excluded from diluted net income per share5,211,149 4,307,703 Potentially dilutive common shares with respect to the convertible notes are not presented in the table above. The shares are excluded as of March 31, 2024 because no conditions required for conversion had occurred, and as of March 31, 2025 because the shares are included in the calculation of basic net income per share after converting into shares of the Company’s Class A common stock in connection with the IPO.

13. Related Parties

Retention of Wilson Sonsini Goodrich & Rosati, P.C. Larry W. Sonsini, a member of the Company’s board of directors, is a founding partner of the law firm Wilson Sonsini Goodrich & Rosati, P.C. (Wilson Sonsini), which serves as outside corporate counsel to the Company. During the three months ended March 31, 2025 and 2024, the Company spent $0.9 million and $1.6 million, respectively, with Wilson Sonsini. Amounts payable to Wilson Sonsini were $0.6 million as of March 31, 2025 and $0.4 million as of December 31, 2024.

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

14. Commitments and Contingencies

Letter of CreditAs of March 31, 2025 and December 31, 2024, the Company had standby letters of credit in the aggregate amount of $1.4 million related to office space leases. The Company’s restricted cash is held to secure $0.4 million of the balance of the letters of credit, and the remainder is collateralized by our 2024 Credit Facility.Tax Reserves