Company: IBTA
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001628280-25-008240
Chunk: 11

Company: Ibotta, Inc.
Filing Date: 2025-02-27
Form: 10-K
Item: Item 8
Chunk 11
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90)— — Net cash provided by financing activities181,383 2,385 74,047 Net change in cash, cash equivalents, and restricted cash287,099 44,773 (18,128)Cash, cash equivalents, and restricted cash, beginning of period62,591 17,818 35,946 Cash, cash equivalents, and restricted cash, end of period$349,690 $62,591 $17,818 

See accompanying notes to the consolidated financial statements.

99

Table of ContentsIbotta, Inc.CONSOLIDATED STATEMENTS OF CASH FLOWS, CONT.(In thousands)

Year ended December 31,202420232022Supplemental disclosures of cash flow informationInterest paid$2,583 $5,491 $3,517 Income taxes paid$13,208 $4,110 $71 Supplemental disclosures of non-cash investing and financing activitiesStock-based compensation included in capitalized software development costs$421 $414 $188 Conversion of convertible debt into Class A common stock$103,584 $— $— 

See accompanying notes to the consolidated financial statements.

100

Table of ContentsIbotta, Inc.Notes to Consolidated Financial Statements

1. Nature of Operations

Ibotta, Inc. (Company, we, or our) is a technology company that allows consumer packaged goods (CPG) brands to deliver digital promotions to millions of consumers through a single, convenient network called the Ibotta Performance Network (IPN). We provide promotional services to publishers, retailers, and advertisers through the IPN, which includes our direct-to-consumer (D2C) mobile, web, and browser extension properties and our growing network of third-party publisher properties. The majority of the Company’s revenues are derived from the fees we earn from clients when consumers redeem offers. The Company also derives revenue from fees we earn from clients for ad products across the Company’s platform in support of their promotional campaigns, as well as from data products.Initial Public OfferingOn April 22, 2024, the Company closed its initial public offering (IPO), in which we issued and sold 2,500,000 shares of our Class A common stock at $88.00 per share (IPO price). The Company received net proceeds of $198.0 million after deducting underwriting discounts and commissions of $13.2 million and offering costs of approximately $8.8 million.