Company: IBTA
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001628280-25-051720
Chunk: 177

Company: Ibotta, Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Item 8
Chunk 177
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 number of shares repurchased may depend on a variety of factors, including price, general business and market conditions, and alternative investment opportunities. 

During the three and nine months ended September 30, 2025, the Company repurchased 1,448,325 and 4,737,252 shares, respectively, of its Class A common stock for an aggregate repurchase amount of $39.1 million and $180.7 million, respectively. The repurchase amount includes immaterial broker commissions and the 1% excise tax on net share repurchases imposed by the Inflation Reduction Act of 2022. Repurchases are reflected as treasury stock on the condensed balance sheets on a trade-date 

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basis. As of September 30, 2025, $89.9 million remains available and authorized for repurchase under the Share Repurchase Program. 

Cash Flows

The following table summarizes our cash flows for the periods presented:

Nine months ended September 30,20252024(in thousands)Net cash provided by operating activities$67,469 $93,930 Net cash used in investing activities(23,128)(7,656)Net cash (used in) provided by financing activities(170,677)192,409 Net change in cash, cash equivalents, and restricted cash$(126,336)$278,683 

Operating Activities

Our collection cycles can vary based on payment practices from our clients, and we are required to pay our third-party publishers within a contractual timeframe, regardless of whether we have collected payment from our client. As a result, timing of cash receipts related to accounts receivable and due to third-party publishers can vary from period to period and significantly impact our cash provided by operating activities for any period.

Net cash provided by operating activities decreased $26.5 million during the nine months ended September 30, 2025 compared to the nine months ended September 30, 2024. The decrease was a result of a $12.0 million increase in net income adjusted for a $36.8 million decrease in non-cash charges and a $1.7 million decrease in net cash inflows from changes in operating assets and liabilities. 

The decrease in non-cash charges was largely driven by the IPO in the prior year, including accelerated stock-based compensation and losses on the extinguishment of the convertible notes and derivative liability. The decrease in net cash inflows from changes in operating assets and liabilities was primarily due to cash outflows of $18.5 million