Company: IBTA
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001628280-25-025593
Chunk: 148

Company: Ibotta, Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 8
Chunk 148
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 period in 2024, third-party publisher redemptions per redeemer were approximately 4.0 and 4.1, respectively. The decrease was driven by the quantity and quality of offers available to each third-party publisher redeemer.

Total redemptions per redeemer

For the three months ended March 31, 2025 compared to the same period in 2024, total redemptions per redeemer were approximately 4.8 and 5.7, respectively.

Redemption revenue per redemption

Redemption revenue per redemption is the redemption revenue divided by the number of redemptions. Redemption revenue per redemption is an indication of our fee, which is generally charged as a fixed dollar amount per redemption. In any period, our redemption revenue per redemption can fluctuate based on the category mix of offers being redeemed and the impact of inflation on a product’s manufacturer’s suggested retail price (MSRP). Category mix can be impacted by factors such as seasonal promotions, including back-to-school items in the third quarter or holiday promotions on grocery and food items in the fourth quarter of each year. Our fee is generally charged as a fixed dollar amount per redemption based on the retail price of the specific item being promoted.

D2C redemption revenue per redemption represents redemption revenue generated from offers on any Ibotta property divided by the redemptions on any Ibotta property in that period. Third-party publisher redemption revenue per redemption represents redemption revenue generated from offers on all publishers other than those on Ibotta properties divided by redemptions on all publishers other than those on Ibotta properties. Refer to the Results of Operations section below for the disaggregation of revenue by Ibotta D2C and third-party publisher.

Ibotta D2C redemption revenue per redemption

For the three months ended March 31, 2025 compared to the same period in 2024, D2C redemption revenue per redemption was $1.17 and $1.19, respectively. This change was driven primarily by offer mix.

Third-party publisher redemption revenue per redemption

For the three months ended March 31, 2025 compared to the same period in 2024, third-party publisher redemption revenue per redemption was $0.79 and $0.80, respectively. This change was driven primarily by offer mix.

Total redemption revenue per redemption

For the three months ended March 31, 2025 compared to the same period in 2024, total redemption revenue per redemption was $0.89 and $0.95, respectively