Company: IBTA
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001538379-25-000010
Chunk: 174

Company: Ibotta, Inc.
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 8
Chunk 174
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 with a liquidity event-based vesting condition that was satisfied in connection with the IPO and $0.8 million related to a higher allocation of personnel costs to cost of revenue due to continued investment in our infrastructure.

General and administrative

Six months ended June 30,Change20252024$%(in thousands, except percentages)General and administrative$43,650 $41,862 $1,788 4 %

General and administrative increased $1.8 million, or 4%, during the six months ended June 30, 2025 compared to the six months ended June 30, 2024, due to increases of $2.4 million in professional fees largely attributable to legal matters, $0.8 million in bad debt expense, $0.8 million in facilities costs due to 

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the commencement of a new office space lease in the first quarter of 2025, $0.6 million in other personnel-related costs, including $0.3 million of restructuring charges, $0.5 million in software licensing costs, and $0.4 million in corporate insurance. These increases were partially offset by a $3.7 million decrease in stock-based compensation expense driven by decreases of $8.0 million related to equity awards with a liquidity event-based vesting condition that was satisfied in connection with the IPO and $1.6 million from the reversal of previously recognized expense for unvested equity awards related to the departure of the Company’s chief financial officer in March 2025, partially offset by a $6.0 million increase in recurring equity compensation.

Depreciation and amortization

Six months ended June 30,Change20252024$%(in thousands, except percentages)Depreciation and amortization$2,020 $2,031 $(11)(1)%

Depreciation and amortization did not change meaningfully during the six months ended June 30, 2025 compared to the six months ended June 30, 2024.

Interest expense, net

Six months ended June 30,Change20252024$%(in thousands, except percentages)Interest income, net$6,321 $867 $5,454 629 %

Interest income, net, increased $5.5 million, or 629%, during the six months ended June 30, 2025 compared to the six months ended June 30, 2024, due to an increase in interest earned on cash and cash equivalents driven largely by the