Company: IBTA
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001628280-25-008240
Chunk: 45

Company: Ibotta, Inc.
Filing Date: 2025-02-27
Form: 10-K
Item: Item 8
Chunk 45
---
$19,812 $15,306 $17,251 An insignificant portion of the unrecognized tax benefits, if recognized, is expected to impact the effective tax rate. A material reduction of unrecognized tax benefits within the next twelve months is not expected.

126

Table of ContentsIbotta, Inc.Notes to Financial Statements

We file income tax returns in the U.S. federal jurisdiction and various state and local jurisdictions. While the applicable statute of limitations are generally open for three to four years for the jurisdictions in which we file, we remain subject to income tax examinations for all years in certain jurisdictions due to the usage of carryforward attributes, such as net operating losses and research and development credits. The Internal Revenue Service (IRS) commenced an examination of our U.S. income tax returns for the tax year ended December 31, 2021 in the second quarter of 2024. As of December 31, 2024, the IRS has not proposed any adjustments to our tax positions. The Company's state income tax returns are subject to audit. The Company is not currently under audit by state taxing authorities. 

14. Net Income (Loss) Per Share

Following the IPO, the Company has two series of common stock, Class A common stock and Class B common stock. The rights of the holders of the Company’s Class A common stock and Class B common stock are identical, except with respect to voting and conversion. As the liquidation and dividend rights are identical, basic and diluted net income (loss) per share are the same for Class A common stock and Class B common stock.Basic and diluted net income (loss) per share is calculated as follows (in thousands, except share and per share amounts):Year ended December 31, 202420232022Numerator:Net income (loss)$68,742 $38,117 $(54,861)Denominator:Weighted average shares of common stock outstanding, basic24,124,8338,948,5378,672,426Plus: dilutive effect of stock options2,551,403727,076—Plus: dilutive effect of RSUs184,695——Plus: dilutive effect of redeemable convertible preferred stock—17,245,954—Weighted average common shares outstanding, diluted26,860,93126,921,5678,672,426Net income (loss) per share, basic$2.85 $4.26 $(6.33)Net income (loss) per share, diluted