Company: IBTA
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001628280-25-008240
Chunk: 5

Company: Ibotta, Inc.
Filing Date: 2025-02-27
Form: 10-K
Item: Item 8
Chunk 5
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 evidence regarding the amounts and disclosures in the consolidated financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the consolidated financial statements. We believe that our audits provide a reasonable basis for our opinion.

/s/ KPMG LLP

We have served as the Company’s auditor since 2020.

Denver, Colorado

February 26, 2025

93

Table of ContentsIbotta, Inc.BALANCE SHEETS(In thousands, except share and per share amounts)

December 31,20242023AssetsCurrent Assets:Cash and cash equivalents$349,282 $62,591 Restricted cash408 — Accounts receivable, less allowances of $3,765 and $3,160, respectively220,883 226,439 Prepaid expenses and other current assets11,168 9,314 Total current assets581,741 298,344 Property and equipment, less accumulated depreciation of $9,675 and $8,905, respectively1,951 2,541 Capitalized software development costs, less accumulated amortization of $18,087 and $13,482, respectively16,201 12,844 Equity investment4,531 4,531 Deferred tax assets, net73,211 — Other long-term assets794 1,530 Total assets$678,429 $319,790 Liabilities, Redeemable Convertible Preferred Stock, and Stockholders’ EquityCurrent liabilities:Accounts payable$7,160 $8,937 Due to third-party publishers93,982 73,155 Deferred revenue4,964 2,628 User redemption liability74,006 84,531 Accrued expenses17,965 24,582 Other current liabilities6,088 4,317 Total current liabilities204,165 198,150 Long-term liabilities:Long-term debt, net— 64,448 Convertible notes derivative liability— 25,400 Other long-term liabilities16,981 3,864 Total liabilities221,146 291,862 Commitments and contingencies (Note 16)Redeemable convertible preferred stock, $0.00001 par value; zero and 17,245,954 shares authorized, issued, and outstanding as of December 31, 2024 and 2023, respectively— — Stockholders’ equity:Preferred stock, $0.