Company: IBTA
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001538379-25-000010
Chunk: 153

Company: Ibotta, Inc.
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 8
Chunk 153
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 2024 the Company recorded an income tax provision of $3.9 million and $7.0 million, respectively, resulting in an effective tax rate of (13.1)% and (39.9)%, respectively. These effective tax rates differ from the U.S. federal statutory rate primarily due to the impact of nondeductible items, including certain executive compensation costs, stock-based compensation, and the tax expense related to uncertain tax positions; partially offset by the benefit of research and development tax credits. The Internal Revenue Service (IRS) commenced an examination of our consolidated U.S. income tax return for 2021 in the second quarter of 2024. During the first quarter of 2025, the IRS completed this examination with no changes to the reported tax. However, the IRS has the ability to adjust the research and development credit claimed and net operating loss generated in 2021 when these carryforward tax attributes are utilized in future tax years. On July 4, 2025, the One Big Beautiful Bill Act (OBBBA) was enacted in the U.S. The OBBBA includes significant provisions, such as the permanent extension of certain expiring provisions of the Tax Cuts and Jobs Act, modifications to the international tax framework and the restoration of favorable tax 

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

treatment for certain business provisions. The legislation has multiple effective dates, with certain provisions effective in 2025 and others implemented through 2027. We are currently assessing its impact on the financial statements. 

12. Net Income (Loss) Per Share

The rights of the holders of the Company’s Class A common stock and Class B common stock are identical, except with respect to voting and conversion. As the liquidation and dividend rights are identical, basic and diluted net income (loss) per share are the same for Class A common stock and Class B common stock.Basic and diluted net income (loss) per share is calculated as follows (in thousands, except share and per share amounts):Three months ended June 30,Six months ended June 30,2025202420252024Numerator:Net income (loss)$2,490 $(33,966)$3,045 $(24,669)Denominator:Weighted average shares of common stock outstanding, basic28,479,97725,659,46529,623,35217,484,092Plus: dilutive effect of stock options1,772,789