Company: IBTA
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001628280-25-025593
Chunk: 327

Company: Ibotta, Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 2
Chunk 327
---
. The increase in stock-based compensation expense was comprised of a $6.0 million increase related to equity awards for which expense recognition commenced upon IPO, partially offset by a $1.6 million decrease from the reversal of previously recognized stock-based compensation expense for unvested equity awards related to the departure of the Company’s chief financial officer in March 2025. The increase in other personnel-related costs was driven by $0.3 million of 

37

restructuring charges incurred in February 2025 with the remainder from increased average salary, offset by decreased average headcount.

Depreciation and amortization

Three months ended March 31,Change20252024$%(in thousands, except percentages)Depreciation and amortization$972 $983 $(11)(1)%

Depreciation and amortization did not change meaningfully during the three months ended March 31, 2025 compared to the three months ended March 31, 2024.

Three months ended March 31,Change20252024$%(in thousands, except percentages)Interest income (expense), net$3,685 $(1,805)$5,490 304 %

Interest income (expense), net, increased $5.5 million, or 304%, during the three months ended March 31, 2025 compared to the three months ended March 31, 2024, due to an increase in interest earned on cash and cash equivalents driven largely by the IPO proceeds and a decrease in interest expense resulting from the extinguishment of the convertible notes.

Other expense, net

Three months ended March 31,Change20252024$%(in thousands, except percentages)Other expense, net$399 $1,702 $(1,303)(77)%

Other expense, net, decreased $1.3 million, or 77%, during the three months ended March 31, 2025 compared to the three months ended March 31, 2024, primarily due to a $1.7 million decrease in the loss on the convertible notes derivative liability, which was settled in connection with the IPO.

Benefit from (provision for) income taxes

Three months ended March 31,Change20252024$%(in thousands, except percentages)Benefit from (provision for) income taxes$72 $(3,101)$3,173 102 %

Benefit from (provision for) income taxes increased $3.2 million during the three months ended March 31,