Company: IBTA
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001628280-25-025593
Chunk: 77

Company: Ibotta, Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 1
Chunk 77
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Table of ContentsPART I - FINANCIAL INFORMATIONItem 1. Financial StatementsIbotta, Inc.CONDENSED BALANCE SHEETS(In thousands, except share and per share amounts)

March 31, 2025December 31, 2024(unaudited)AssetsCurrent assets:Cash and cash equivalents$297,125 $349,282 Restricted cash408 408 Accounts receivable, less allowances of $4,086 and $3,765, respectively206,159 220,883 Prepaid expenses and other current assets24,294 11,168 Total current assets527,986 581,741 Property and equipment, less accumulated depreciation of $10,035 and $9,675, respectively4,441 1,951 Capitalized software development costs, less accumulated amortization of $19,537 and $18,087, respectively17,573 16,201 Equity investment4,531 4,531 Deferred tax assets, net73,211 73,211 Operating lease assets10,730 — Other long-term assets792 794 Total assets$639,264 $678,429 Liabilities and Stockholders’ EquityCurrent liabilities:Accounts payable$11,303 $7,160 Due to third-party publishers86,531 93,982 Deferred revenue5,576 4,964 User redemption liability72,481 74,006 Accrued expenses15,133 17,965 Other current liabilities5,480 6,088 Total current liabilities196,504 204,165 Long-term liabilities:Operating lease liabilities, long-term24,510 — Unrecognized tax benefits, long-term16,974 16,981 Total liabilities237,988 221,146 Commitments and contingencies (Note 14)Stockholders’ equity:Preferred stock, $0.00001 par value: 100,000,000 shares authorized and zero shares issued and outstanding as of March 31, 2025, and December 31, 2024— — Class A common stock, $0.00001 par value: 3,000,000,000 shares authorized, 28,673,420 shares issued, and 26,314,183 shares outstanding as of March 31, 2025; 3,000,000,000 shares authorized, 28,332,671 shares issued, and 27,