Company: IBTA
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001628280-25-025593
Chunk: 94

Company: Ibotta, Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 1
Chunk 94
---
 repurchases may be structured to occur in accordance with the requirements of Rule 10b-18 under the Securities Exchange Act of 1934, as amended (Exchange Act). The Company may also, from time to time, enter into Rule 10b5-1 plans to facilitate repurchases of shares of its Class A common stock under this authorization. The Company is not obligated under the Share Repurchase Program to acquire any particular amount of Class A common stock, and the Company may terminate or suspend the Share Repurchase Program at any time. The timing and actual number of shares repurchased may depend on a variety of factors, including price, general business and market conditions, and alternative investment opportunities. 

During the three months ended March 31, 2025, the Company repurchased 1,840,554 shares of its Class A common stock for an aggregate repurchase amount of $73.4 million. The repurchase amount includes immaterial broker commissions and the 1% excise tax on net share repurchases imposed by the Inflation Reduction Act of 2022. Repurchases are reflected as treasury stock on the condensed balance sheets on a trade-date basis. As of March 31, 2025, $96.1 million remains available and authorized for repurchase under the Share Repurchase Program. 

19

Table of ContentsIbotta, Inc.Notes to Condensed Financial Statements(unaudited)

9. Revenue

Disaggregation of RevenueThe Company’s disaggregated revenue by type of service is as follows (in thousands):Three months ended March 31,20252024Redemption revenue$73,399 $67,989 Ad & other revenue11,175 14,338 Total revenue$84,574 $82,327 Deferred RevenueDeferred revenue, a contract liability, consists of fees and cash back offers collected from clients that will be applied to future campaigns. Deferred revenue is expected to be recognized as consumers redeem offers over the term of the campaigns, net of the cash back offer, which generally occurs within 12 months. Deferred revenue was $5.6 million and $5.0 million as of March 31, 2025 and December 31, 2024, respectively. Revenue recognized from deferred revenue at the beginning of the year is as follows (in thousands):Three months ended March 31,20252024Revenue recognized$2,845 $1,423 

10. Stock-Based Compensation 

Stock-Based Compensation ExpenseThe Company’s stock-based compensation