Company: IBTA
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001628280-25-025593
Chunk: 316

Company: Ibotta, Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 2
Chunk 316
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 ability of consumers to buy products that are featured on the IPN. Deteriorating macroeconomic conditions, including slower growth or a recession, inflation, changes in the perception of macroeconomic conditions, changes in U.S. government policies, bank failures, supply chain disruption, increases in interest rates, increases to fuel and other energy costs or vehicle costs, a potential U.S. federal government shutdown, geopolitical events, including escalated, escalating, and retaliatory tariff and non-tariff trade measures imposed by the U.S., Mexico, China, Canada and other countries, the potential for new or unforeseen conflicts, changes in the labor market, or decreases in consumer spending power or confidence, could lower promotional budgets and result in a decline in client spending which could adversely affect the number of offer redemptions on our network.

Management continues to actively monitor the impact of these macroeconomic factors on our financial condition, liquidity, operations, and workforce. For more information on risks associated with macroeconomic conditions, see the risk factor titled “Macroeconomic conditions, including slower growth or a recession and supply chain disruptions, have previously affected and could continue to adversely affect our business, financial condition, results of operations, and prospects.”

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Table of Contents

Financial and Operational Highlights

Three months ended March 31,20252024(in thousands, except percentages, per redeemer, and per redemption figures)Redemptions(1) 82,840 71,466 Redeemers(1)17,089 12,487 Redemptions per redeemer(1) 4.8 5.7 Redemption revenue per redemption(1) $0.89 $0.95 Revenue$84,574 $82,327 Gross profit$67,482 $71,812 Gross margin80 %87 %Net income$555 $9,297 Net income as a percent of revenue1 %11 %Adjusted EBITDA(1)$14,673 $22,659 Adjusted EBITDA margin(1)17 %28 %

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(1)See Performance Metrics and Non-GAAP Measures for more information and reconciliations of Adjusted EBITDA and Adjusted EBITDA margin to the most directly comparable GAAP financial measures. 

Note that certain figures shown above may not recalculate due to rounding.

Performance Metrics and Non-GAAP Measures

We use the following key performance metrics and non-GAAP measures to help