Company: IBTA
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001538379-25-000010
Chunk: 93

Company: Ibotta, Inc.
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 1
Chunk 93
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, the Company acquired 628,930 shares of the Series A Preferred Stock of a privately held software company in exchange for cash consideration of $0.8 million. The investment represents a minority interest, and the Company has determined that it does not have significant influence over the company. The preferred shares comprising the investment are illiquid, and the fair value is not readily determinable. The Company has elected the measurement alternative to measure this investment at cost, less impairments, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment. 

During the three and six months ended June 30, 2025 and 2024, the Company recorded no adjustments to the equity investment. Since inception, the Company has recorded positive cumulative adjustments in the equity investment of $8.3 million and negative cumulative adjustments of $4.5 million. 

7. Operating Leases

The Company’s leases primarily include office space for its corporate headquarters. Our current headquarters lease expires in October 2025, and in November 2024, we executed a noncancelable operating lease for a new headquarters space that expires in February 2036. The new headquarters lease commenced during the six months ended June 30, 2025, and we recognized an initial long-term lease liability of $24.2 million, an operating lease asset of $11.0 million, and a lease incentive receivable of $13.2 million. The lease incentive receivable is the amount for which the landlord will reimburse the Company for certain leasehold improvements provided for under the lease agreement. The new lease includes options to extend through 2056 that we are not reasonably certain to exercise and are excluded from the lease term.

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

The components of lease cost were as follows (in thousands):Three months ended June 30,Six months ended June 30,2025202420252024Operating lease cost$784 $270 $1,397 $539 Short-term lease cost27 10 39 20 Variable lease cost207 302 534 628 Total lease cost, net$1,018 $582 $1,970 $1,187 Supplemental cash flow information related to operating leases was as follows (in thousands):Six months ended June 30,20252024Cash paid for amounts included in the measurement of lease liabilities:Operating cash flows for operating leases