Company: IBTA
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001628280-25-051720
Chunk: 105

Company: Ibotta, Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 1
Chunk 105
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 antidilutive for the periods presented:Three months ended September 30,Nine months ended September 30,2025202420252024Stock options261,011 — 95,973 3,688,752 RSUs1,780,443 699,644 1,466,559 1,148,327 ESPP— 56,353 — 56,353 Unvested shares of restricted stock purchase— 37,192 — 37,192 Common stock warrant4,121,034 4,121,034 4,121,034 4,121,034 Total shares excluded from diluted net income (loss) per share6,162,488 4,914,223 5,683,566 9,051,658 

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 nine months ended September 30, 2025 and 2024, the Company spent $1.9 million and $3.5 million, respectively, with Wilson Sonsini. During the three months ended September 30, 2025 and 2024, the Company spent $0.5 million and $0.7 million, respectively, with Wilson 

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

Sonsini. Amounts payable to Wilson Sonsini were immaterial as of September 30, 2025 and $0.4 million as of December 31, 2024.

14. Commitments and Contingencies

Letter of CreditAs of September 30, 2025 and December 31, 2024, the Company had standby letters of credit in the aggregate amount of $1.1 million and $1.4 million, respectively, related to office space leases. The Company’s restricted cash is held to secure $0.1 million and $0.4 million of the balance of the letters of credit as of September 30, 2025 and December 31, 2024, respectively. The remainder is collateralized by our 2024 Credit Facility.Tax ReservesWe conduct operations