Company: IBTA
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001538379-25-000010
Chunk: 351

Company: Ibotta, Inc.
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 2
Chunk 351
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 equity awards with a liquidity event-based vesting condition that was satisfied in connection with the IPO. These decreases were partially offset by increases of $1.5 million in professional fees largely attributable to legal matters, $0.4 million in bad debt expense, $0.4 million in facilities costs due to the commencement of a new office space lease in the first quarter of 2025, and $0.3 million in software licensing costs.

38

Depreciation and amortization

Three months ended June 30,Change20252024$%(in thousands, except percentages)Depreciation and amortization$1,048 $1,048 $— — %

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

Interest income (expense), net

Three months ended June 30,Change20252024$%(in thousands, except percentages)Interest income, net$2,636 $2,672 $(36)(1)%

Interest income, net, did not change meaningfully during the three months ended June 30, 2025 compared to the three months ended June 30, 2024.

Loss on debt extinguishment 

Three months ended June 30,Change20252024$%(in thousands, except percentages)Loss on extinguishment of debt$— $9,630 $(9,630)(100)%

Loss on extinguishment of debt decreased $9.6 million during the during the three months ended June 30, 2025 compared to the three months ended June 30, 2024 due to the conversion of the convertible notes into shares of our Class A common stock concurrently upon the closing of the IPO. 

Other expense, net

Three months ended June 30,Change20252024$%(in thousands, except percentages)Other expense, net$6 $1,414 $(1,408)(100)%

Other expense, net, decreased $1.4 million, or 100%, during the three months ended June 30, 2025 compared to the three months ended June 30, 2024, primarily due to a $1.4 million decrease in the loss on the convertible notes derivative liability, which was settled in connection with the IPO.

39

Provision for income taxes

Three months ended June 30,Change20252024$%(in thousands, except percentages)