Company: IBTA
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001538379-25-000010
Chunk: 128

Company: Ibotta, Inc.
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 1
Chunk 128
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3 compared to December 31, 2024, paid in the first quarter of the following year, the timing of gift card purchases, and an increase in other accrued liabilities.

Investing Activities

Net cash used in investing activities increased $7.2 million during the six months ended June 30, 2025 compared to the six months ended June 30, 2024, driven by a $5.2 million increase in additions to property and equipment driven by leasehold improvements for our new corporate headquarters and a $2.0 million increase in additions to capitalized software development costs. 

Financing Activities

Net cash used in financing activities increased $338.5 million during the six months ended June 30, 2025 compared to the six months ended June 30, 2024, driven by $201.1 million of net IPO proceeds in the prior year, a $140.2 million increase in purchases of treasury stock, and a $2.0 million increase in taxes paid related to the net share settlement of equity awards, partially offset by increases of $2.7 million in proceeds from the exercise of stock options and $2.0 million in proceeds from the employee stock purchase plan.

Material Cash Requirements 

Operating leases

Our operating lease commitments primarily include our corporate office space. As of June 30, 2025, we had noncancellable lease obligations of $37.5 million, of which $1.4 million is payable within 12 months and the remainder thereafter. For additional discussion on our operating leases, refer to Note 7 - Operating Leases to our condensed financial statements included in Part I, Item I, of this Quarterly Report on Form 10-Q.

Purchase Commitments

The Company has non-cancelable purchase obligations that relate to minimum commitments with certain third-party publishers and other contractual commitments primarily with software as a service providers and marketing vendors in the ordinary course of business. As of June 30, 2025, we had fixed noncancellable purchase obligations of $148.2 million, of which $35.2 million is payable within 12 months 

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and the remainder thereafter. For additional discussion on these contractual commitments, refer to Note 14 - Commitments and Contingencies to our condensed financial statements included in Part I, Item I, of this Quarterly Report on Form 10-Q.

Critical Accounting Policies and Estimates

Management’s discussion and analysis of our financial condition and results of operations is based on our consolidated financial statements, which have been prepared in accordance with GA