Company: IBTA
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001538379-25-000010
Chunk: 160

Company: Ibotta, Inc.
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 8
Chunk 160
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 redeemers17,33613,70217,21313,095Redemptions per redeemer:Direct-to-consumer redemptions per redeemer13.815.926.830.2Third-party publisher redemptions per redeemer3.74.47.78.5Total redemptions per redeemer4.65.99.511.6Redemption revenue per redemption:Direct-to-consumer redemption revenue per redemption$1.12 $1.13 $1.14 $1.16 Third-party publisher redemption revenue per redemption0.83 0.80 0.81 0.80 Total redemption revenue per redemption$0.91 $0.92 $0.90 $0.93 

Redemptions

A redemption is a verified purchase of an item qualifying for an offer by a client on the IPN. The number of redemptions are an indicator of the scale and consumer engagement of our business, as well as the value we bring to our clients and publishers. Generally, redemptions change as budgets increase or decrease with existing clients and/or as we add or lose CPG brands as clients. In addition, redemptions grow from adding publishers and redeemers, and/or increasing engagement from existing redeemers.

D2C redemptions are redemptions on any Ibotta D2C property. Third-party publisher redemptions are redemptions on all publishers excluding the Ibotta D2C properties, namely our retailer publishers.

Ibotta D2C redemptions

For the three months ended June 30, 2025 compared to the same period in 2024, D2C redemptions were approximately 21.9 million and 28.6 million, respectively. For the six months ended June 30, 2025 

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compared to the same period in 2024, D2C redemptions were approximately 43.6 million and 56.2 million, respectively. The decrease was driven by the quantity and quality of offers available to each D2C redeemer.

Third-party publisher redemptions

For the three months ended June 30, 2025 compared to the same period in 2024, third-party publisher redemptions were approximately 58.6 million and 52.1 million, respectively. For the six months ended June 30, 2025 compared to the same period in 2024, third-party publisher redemptions were