IBTANYSEServices-AdvertisingUS GAAP · USD

Ibotta, Inc.

Ibotta, Inc. operates a digital promotions network that connects consumer packaged goods brands and other advertisers with consumers through cash-back offers and loyalty programs. Its Ibotta Performance Network (IPN) distributes offers through third-party publishers such as retailers and delivery platforms, as well as through Ibotta’s own consumer app, website, and browser extension.

Kysy yhtiöstä
Liikevaihto342milj. USD
−6,8 %v/v
Liikevoitto (EBIT)−0,8milj. USD
−103,0 %v/v
EBIT-marginaali−0,2%
−7,8 %-yks.v/v
Nettotulos3,6milj. USD
−94,8 %v/v
Vapaa kassavirta75,0milj. USD
−34,8 %v/v

Tilikausi 2025 · muutos edellisvuodesta

Kehitys 2022–2025

−1000100200300400milj. USD2022: 211 milj. USD2022: EBIT −40 milj. USD20222023: 320 milj. USD2023: EBIT 56 milj. USD20232024: 367 milj. USD2024: EBIT 28 milj. USD20242025: 342 milj. USD2025: EBIT −0,84 milj. USD2025342−0,84
LiikevaihtoLiikevoitto (EBIT)
Kysy Clarifolta: Ibotta, Inc.

Liiketoiminta

Osuus liikevaihdosta
Digital promotions and redemption revenue70 %

Core offer sourcing, distribution, verification, adjudication, and billing for consumer promotions.

Publisher white-label rewards platform15 %

Rewards-as-a-service technology used by retailers and delivery partners to run branded loyalty programs.

Data licensing and marketing insights10 %

Sale of first-party purchase data and related audience insights to media and data clients.

Affiliate and alternative revenue5 %

Affiliate offers, gift cards, and other non-core monetization streams.

Tuotteet

Raportoitu · osuus liikevaihdosta
86,8%13,2%FY2025100 %
  • Redemption Revenue86,8 %
  • Ad Other Revenue13,2 %

Lähde: 10-K FY2025, yhtiön tuotelinjoittain raportoima liikevaihto (SEC XBRL). Osuudet on laskettu näytetyistä riveistä ja ne summautuvat 100 %:iin.

Asiakkaat

Ibotta sells primarily to consumer packaged goods brands that want measurable digital promotion spend and incremental sales. It also serves third-party publishers such as Walmart, Dollar General, Family Dollar, Instacart, and DoorDash, which use Ibotta’s technology to power white-label rewards programs and retain shoppers. A smaller but important set of customers includes data and media clients that license purchase data for marketing analytics.

Enterprise CPG brands

Large food, health & beauty, home, general merchandise, and beverage brands buy digital promotions and measurement to shift spend from traditional trade promotions.

Third-party publishers and retailers

Retailers and delivery platforms buy white-label offer infrastructure to run loyalty and rewards programs under their own brands.

Emerging and challenger brands

Fast-growing brands use Ibotta for performance-based promotion access and efficient consumer acquisition.

Data and media clients

Clients license cross-retailer, item-level basket data to improve targeting, measurement, and campaign planning.

Affiliate and alternative revenue partners

Partners use Ibotta’s network to distribute offers and monetize consumer transactions through affiliate economics.

Strategia

Ibotta is focused on expanding the IPN by adding publishers, deepening existing client relationships, and increasing offer supply and redemptions. It is also investing in AI/ML, LiveLift™, and other tools to improve campaign optimization, prove incremental sales, and make its platform more valuable to brands and publishers.

Expand publisher networkLyhyt aikaväli

More publishers increase consumer reach and redemption volume, which strengthens the network effect.

Increase client adoption of performance-based promotionsKeskipitkä aikaväli

Shifting brand budgets from other promotion channels improves monetization and retention.

Automate and improve campaign optimizationKeskipitkä aikaväli

AI/ML-driven configuration can improve efficiency and scale while lowering manual effort.

Grow alternative revenue streamsPitkä aikaväli

Data, affiliate, and gift card revenue can diversify the business beyond core redemption fees.

Maantiede

Ibotta is headquartered in the United States and the business described in the filings is overwhelmingly U.S.-centric. Its publisher relationships, consumer app usage, and CPG client base are tied to U.S. retail and delivery ecosystems, so performance depends on domestic consumer spending and retailer adoption rather than international expansion.

Riskit

Ibotta’s business depends on maintaining and expanding publisher relationships, consumer engagement, and offer supply; any weakness in those links can reduce redemptions and revenue. The company also faces execution risk from ongoing technology investment, cybersecurity exposure, and seasonality in client marketing spend, while its history of losses means profitability remains uncertain.

Järjestetty vakavuuden mukaan
MatalaKohtalainenKorkeaMatalaKohtalainenKorkeaVaikutus →Todennäköisyys →Dependence on publisher relationships1Offer supply and redemption volume decline2Profitability uncertainty3Cybersecurity and data privacy incidents4Technology execution risk5Seasonality in client marketing spend6
Vaikutus on riskin vakavuus ja todennäköisyys sen toteutumisen todennäköisyys lähivuosina, molemmat arvioitu yhtiön raporttien perusteella. Numerot vastaavat listaa.
  1. Dependence on publisher relationshipsVaikutus: KorkeaTodennäköisyys: Korkea

    The IPN relies on third-party publishers to distribute offers and drive redemptions.

    KohdistuuWalmartDollar GeneralFamily DollarInstacartDoorDashOther publishers
  2. Offer supply and redemption volume declineVaikutus: KorkeaTodennäköisyys: Korkea

    Revenue is tied to the amount of offer activity and consumer redemption behavior.

    Kohdistuu: CPG promotions and consumer engagement

  3. Profitability uncertaintyVaikutus: KorkeaTodennäköisyys: Korkea

    The company has a history of net losses and expects continued investment.

    Kohdistuu: Operating leverage and expense growth

  4. Cybersecurity and data privacy incidentsVaikutus: KorkeaTodennäköisyys: Kohtalainen

    The company processes consumer and client data and operates digital systems exposed to attack.

    KohdistuuPersonal dataPurchase dataPlatform uptime
  5. Technology execution riskVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    LiveLift™, AI/ML tools, and platform enhancements require successful development and adoption.

    Kohdistuu: Platform innovation and product rollout

  6. Seasonality in client marketing spendVaikutus: KeskitasoTodennäköisyys: Matala

    Clients spend more in the fourth quarter and less in the first quarter, affecting comparability.

    Kohdistuu: Quarterly revenue and redemption patterns

Kysy Clarifolta: Ibotta, Inc.

Kirjanpito

Harkinnanvaraiset erät
Revenue recognition

Fees are tied to redemptions and can fluctuate with offer mix and redemption timing.

Vaikutus: Affects reported revenue, gross margin, and quarterly comparability

Breakage

Unredeemed offers require estimation of when revenue should be recognized.

Vaikutus: Can shift revenue between periods

Seasonality

Client budgets peak in the fourth quarter and soften in the first quarter.

Vaikutus: Creates quarter-to-quarter volatility in revenue and operating leverage

Software development costs

Capitalization and labor allocation judgments affect operating expense and assets.

Vaikutus: Changes R&D expense and amortization profile

Impairment and valuation estimates

Long-lived assets, equity investments, and other balances require periodic impairment assessment.

Vaikutus: Can create non-cash charges if assumptions weaken

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Päivitetty: 24.9.2026

Ibotta, Inc. (IBTA) liikevaihto, tulos ja tunnusluvut 2025 – Clarifo