Company: IBTA
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001628280-25-025593
Chunk: 132

Company: Ibotta, Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 8
Chunk 132
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 and in November 2024, we executed a noncancelable 

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Table of ContentsIbotta, Inc.Notes to Condensed Financial Statements(unaudited)

operating lease for a new headquarters space that expires in February 2036. The new headquarters lease commenced during the three months ended March 31, 2025, and we recognized an initial long-term lease liability of $24.2 million, an operating lease asset of $11.0 million, and a lease incentive receivable of $13.2 million. The lease incentive receivable is the amount the landlord will reimburse the Company for certain leasehold improvements provided for under the lease agreement. The new lease includes options to extend through 2056 that we are not reasonably certain to exercise and are excluded from the lease term.The components of lease cost were as follows (in thousands):Three months ended March 31,20252024Operating lease cost$613 $269 Short-term lease cost12 10 Variable lease cost327 326 Total lease cost, net$952 $605 Supplemental cash flow information related to operating leases was as follows (in thousands):Three months ended March 31,20252024Cash paid for amounts included in the measurement of lease liabilities:Operating cash flows for operating leases$485 $475 Right-of-use assets obtained in exchange for lease obligations$10,951 $— Supplemental balance sheet information related to operating leases was as follows (in thousands):ClassificationMarch 31, 2025December 31, 2024Assets:Right-of-use assets – currentPrepaid expenses and other current assets$588 $831 Lease incentive receivablePrepaid expenses and other current assets13,437 — Right-of-use assets – long-termOperating lease assets10,730 — Total lease assets$24,755 $831 Liabilities:Operating lease liabilities – currentOther current liabilities$1,091 $1,549 Operating lease liabilities – long-termOperating lease liabilities, long-term24,510 — Total lease liabilities $25,601 $1,549 The weighted average remaining lease term and discount rate were as follows:March 31, 2025Weighted average remaining lease term (in years)10.5Weighted average discount rate6.64 %

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Table of ContentsIbotta, Inc.Notes to Condensed Financial Statements(unaudited)

Future maturities of lease liabilities as of March