Company: IBTA
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001628280-25-008240
Chunk: 36

Company: Ibotta, Inc.
Filing Date: 2025-02-27
Form: 10-K
Item: Item 8
Chunk 36
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urchases under the Share Repurchase Program may be made from time to time through open market repurchases or through privately negotiated transactions subject to market conditions, applicable legal requirements, and other relevant factors. Open market 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 year ended December 31, 2024, the Company repurchased 518,683 shares of its Class A common stock for an aggregate repurchase amount of $31.3 million, inclusive of broker commissions and legal costs. Repurchases are reflected in treasury stock on the condensed balance sheets. As of December 31, 2024, $68.8 million remains available and authorized for repurchase under the Share Repurchase Program. Activity under the Share Repurchase Program is recognized in the condensed balance sheets on a trade-date basis.

10. Revenue

Disaggregation of RevenueThe Company’s disaggregated revenue by type of service is as follows (in thousands):Year ended December 31,202420232022Redemption revenue$308,824 $243,886 $138,657 Ad & other revenue58,430 76,151 72,045 Total revenue$367,254 $320,037 $210,702 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 clients redeem 

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Table of ContentsIbotta, Inc.Notes to Financial Statements

offers over the term of the campaigns, net of the cash back offer, which generally occurs within twelve months. Deferred revenue was $5.0 million and $2.6 million as of December 31, 2024 and 2023, respectively. Revenue recognized from deferred revenue at the beginning of the year is as follows (in thousands):Year ended December 31,202420232022Revenue