Company: IBTA
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001628280-25-051720
Chunk: 125

Company: Ibotta, Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 1
Chunk 125
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 of the IPO. 

Other expense, net

Nine months ended September 30,Change20252024$%(in thousands, except percentages)Other expense, net$29 $3,132 $(3,103)(99)%

Other expense, net, decreased $3.1 million, or 99%, during the nine months ended September 30, 2025 compared to the nine months ended September 30, 2024, primarily due to a $3.1 million decrease in the loss on the convertible notes derivative liability, which was settled in connection with the IPO.

Provision for income taxes

Nine months ended September 30,Change20252024$%(in thousands, except percentages)Provision for income taxes$5,025 $14,926 $(9,901)(66)%

The provision for income taxes decreased $9.9 million, or 66%, during the nine months ended September 30, 2025 compared to the nine months ended September 30, 2024, primarily due to the impact of non-deductible items including certain executive compensation costs, stock-based compensation, and the tax expenses related to uncertain tax positions, partially offset by the benefit of research and development tax credits.

Liquidity and Capital Resources

As of September 30, 2025, our principal sources of liquidity included $223.3 million of cash and cash equivalents and $99.0 million of available capacity under a revolving line of credit. 

Our primary cash needs are for personnel-related expenses, sales and marketing expenses, user award and revenue share payables, data hosting costs, and software licensing costs. We believe our existing liquidity and cash flows from operating activities will be sufficient to meet our projected operating and capital requirements for at least the next 12 months. 

Our future cash requirements will depend on many factors, including our pace of growth, the timing and extent of spend to support research and development efforts, the timing of cash collected from clients, the expansion of sales and marketing activities, the introduction of new and enhanced platform offerings, the continuing market acceptance of the platform, and the volume and timing of our share repurchases. As a result of these and other factors, we may be required to seek additional equity or debt 

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financing. If additional financing is required from outside sources, we may not be able to raise it on terms acceptable to us, or at all. Further, our future capital requirements and the adequacy of available funds will depend on many factors