Company: IBTA
Filing Date: 2025-04-11
Form Type: DEF 14A
Source: 0001628280-25-017508
Chunk: 1

Company: Ibotta, Inc.
Filing Date: 2025-04-11
Form: DEF 14A
Chunk 1
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 CPG clients in the future.

In terms of financial performance, we grew full-year revenue to $367.3 million, up 15% YoY, and grew non-GAAP revenue by 20%. Full-year redemption revenue was up 27% YoY to $308.8 million. We generated net income of $68.7 million, up 80% YoY and representing 19% of revenue. We grew adjusted EBITDA to $112.2 million, up 35% YoY and representing a 31% adjusted EBITDA margin. We achieved this primarily due to the growth of our redeemer base, which was up nearly 78% YoY to 14.7 million redeemers.

On that note, 2024 saw us add Family Dollar, AppCard, Schnucks, and Instacart as publishers on the Ibotta Performance Network, building off our foundational relationships with Walmart and Dollar General. We also secured a partnership with DoorDash, which we announced in January 2025.

Late last year, we announced our new headquarters at 16 Market Square with plans to move in fall 2025, doubling down on our commitment to downtown Denver and enhancing our ability to attract world-class talent to the Mountain West region.

I acknowledge that it has been a bumpy ride for our shareholders since the IPO. Nonetheless, I’m proud of what our team accomplished in 2024. The creation of long-term shareholder value depends on a company’s willingness to continue placing bold bets even in the glare of the public markets, its ability to convert the highest percentage of its team’s good ideas into reality, and its relentless pursuit of technological breakthroughs that help clients solve their biggest problems. By placing the right bets and making sound capital allocation decisions, I firmly believe we will deliver attractive returns for our investors.

As always, I am grateful for your partnership. I look forward to continuing to grow, innovate, and deliver on our commitments to you.

Yours, with appreciation, as ever,

/s/ Bryan Leach

Bryan

Founder, CEO, President, and Chairman of the Board of Directors

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