Company: IBTA
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001628280-25-025593
Chunk: 80

Company: Ibotta, Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 1
Chunk 80
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 31,810,844$— (2,359,237)$(104,729)$645,896 $(139,891)$401,276 

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(1)Amounts combine the Company’s Class A common stock and Class B common stock. See Note 9 - Redeemable Convertible Preferred Stock and Stockholders’ Equity in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024 for discussion of the establishment of the Company’s two series of common stock and the reclassification of its common stock into Class A common stock in connection with the Company’s initial public offering in April 2024.

See accompanying notes to the condensed financial statements.

7

Table of ContentsIbotta, Inc.CONDENSED STATEMENTS OF CASH FLOWS  (In thousands)(unaudited)

Three Months Ended March 31,20252024Operating activitiesNet income$555 $9,297 Adjustments to reconcile net income to net cash provided by operating activities:Depreciation and amortization2,165 1,909 Impairment of capitalized software development costs164 92 Stock-based compensation expense11,591 1,814 Common stock warrant expense2,161 3,031 Credit loss expense418 81 Amortization of debt discount and issuance costs38 826 Change in fair value of convertible notes derivative liability— 1,700 Other4 (3)Changes in assets and liabilities:Accounts receivable14,311 19,925 Other current and long-term assets(23,890)(2,136)Accounts payable273 (1,214)Due to third-party publishers(7,451)(5,632)Accrued expenses(3,559)(10,197)Deferred revenue612 1,562 User redemption liability(1,525)(1,541)Other current and long-term liabilities23,993 (148)Net cash provided by operating activities19,860 19,366 Investing activitiesAdditions to property and equipment(1,894)(152)Additions to capitalized software development costs(3,074)(2,315)Net cash used in investing activities(4,968)(2,467)Financing activitiesProceeds from exercise of stock options3,360 1,799 Debt issuance costs(2)— Deferred offering costs— (1,700)Purchase of treasury stock(69,778)—