Company: IBTA
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001628280-25-025593
Chunk: 158

Company: Ibotta, Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 8
Chunk 158
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 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, 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.

Cash Flows

The following table summarizes our cash flows for the periods presented:

Three Months Ended March 31,20252024(in thousands)Net cash provided by operating activities$19,860 $19,366 Net cash used in investing activities(4,968)(2,467)Net cash (used in) provided by financing activities(67,049)9 Net change in cash, cash equivalents, and restricted cash$(52,157)$16,908 

Operating Activities

Our collection cycles can vary based on payment practices from our clients, and we are required to pay our third-party publishers within a contractual timeframe, regardless of whether we have collected payment from our client. As a result, timing of cash receipts related to accounts receivable and due to third-party publishers can vary from period to period and significantly impact our cash provided by operating activities for any period.

Net cash provided by operating activities increased $0.5 million during the three months ended March 31, 2025 compared to the three months ended March 31, 2024. The increase was a result of a $2.1 million increase in net cash inflows from changes in operating assets and liabilities, offset by an $8.7 million decrease in net income adjusted for a $7.1 million increase in non-cash charges. Non-cash charges increased as a result of the IPO, primarily from accelerated stock-based compensation, partially offset by decreases from the extinguishment of the convertible notes. 

The increase in net cash inflows from changes in operating assets and liabilities was primarily due to cash inflows of $6.6 million from accrued expenses and $2.5 million from prepaid