Company: IBTA
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001628280-25-051720
Chunk: 121

Company: Ibotta, Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 1
Chunk 121
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 in professional fees largely attributable to legal matters, $0.6 million in facilities costs due to the commencement of a new office space lease in the first quarter of 2025, and $0.5 million in software licensing costs. These increases were partially offset by a decrease of $1.1 million in personnel costs related primarily to stock-based compensation.

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Depreciation and amortization

Three months ended September 30,Change20252024$%(in thousands, except percentages)Depreciation and amortization$636 $1,065 $(429)(40)%

Depreciation and amortization decreased $0.4 million, or 40%, during the three months ended September 30, 2025 compared to the three months ended September 30, 2024, primarily driven by a decrease in amortization of infrastructure-related software development costs.

Interest income, net

Three months ended September 30,Change20252024$%(in thousands, except percentages)Interest income, net$2,510 $4,436 $(1,926)(43)%

Interest income, net, decreased $1.9 million, or 43%, during the three months ended September 30, 2025 compared to the three months ended September 30, 2024, driven by decreases in cash and cash equivalents and interest rates.

Other income (expense), net

Three months ended September 30,Change20252024$%(in thousands, except percentages)Other income (expense), net$376 $(16)$392 NM(1)

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(1)NM - not meaningful

Other income, net, increased $0.4 million during the three months ended September 30, 2025 compared to the three months ended September 30, 2024, due to the favorable settlement of a tax matter.

Provision for income taxes

Three months ended September 30,Change20252024$%(in thousands, except percentages)Provision for income taxes$3,719 $7,888 $(4,169)(53)%

The provision from income taxes decreased $4.2 million, or 53%, during the three months ended September 30, 2025 compared to the three months ended September 30, 2024, primarily due to the decrease in pre-tax book income.

40

Comparison of the nine months ended September 30, 2025 and 2024

Revenue

Nine months ended September 30,Change20252024