Company: IBTA
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001538379-25-000010
Chunk: 120

Company: Ibotta, Inc.
Filing Date: 2025-08-13
Form: 10-Q
Item: Item 1
Chunk 120
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 decrease in other personnel-related costs was driven by a decrease in average headcount.

General and administrative

Three months ended June 30,Change20252024$%(in thousands, except percentages)General and administrative$22,264 $28,708 $(6,444)(22)%

General and administrative decreased $6.4 million, or 22%, during the three months ended June 30, 2025 compared to the three months ended June 30, 2024, due to decreases of $8.0 million in stock-based compensation expense, $0.7 million related to the timing of the Company’s annual town hall, and $0.5 million in other personnel-related costs, primarily related to one-time IPO costs incurred in the prior year. The decrease in stock-based compensation related primarily to equity awards with a liquidity event-based vesting condition that was satisfied in connection with the IPO. These decreases were partially offset by increases of $1.5 million in professional fees largely attributable to legal matters, $0.4 million in bad debt expense, $0.4 million in facilities costs due to the commencement of a new office space lease in the first quarter of 2025, and $0.3 million in software licensing costs.

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Depreciation and amortization

Three months ended June 30,Change20252024$%(in thousands, except percentages)Depreciation and amortization$1,048 $1,048 $— — %

Depreciation and amortization did not change meaningfully during the three months ended June 30, 2025 compared to the three months ended June 30, 2024.

Interest income (expense), net

Three months ended June 30,Change20252024$%(in thousands, except percentages)Interest income, net$2,636 $2,672 $(36)(1)%

Interest income, net, did not change meaningfully during the three months ended June 30, 2025 compared to the three months ended June 30, 2024.

Loss on debt extinguishment 

Three months ended June 30,Change20252024$%(in thousands, except percentages)Loss on extinguishment of debt$— $9,630 $(9,630)(100)%

Loss on extinguishment of debt decreased $9.6 million during the during the three months ended June 30, 2025 compared to the three months ended June 30, 2024 due