Ibotta, Inc.
For the period ended Mar 31, 2025. Filed May 15, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2025 · Filed May 15, 2025
IBTA$59.91+3.1%Stored close · as of Nov 9, 2026
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Condensed Statements of Cash Flows
(In thousands)
| Three Months Ended March 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Operating activities | ||
| Net income | $555 | $9,297 |
| Adjustments to reconcile net income to net cash provided by operating activities: | ||
| Depreciation and amortization | 2,165 | 1,909 |
| Impairment of capitalized software development costs | 164 | 92 |
| Stock-based compensation expense | 11,591 | 1,814 |
| Common stock warrant expense | 2,161 | 3,031 |
| Credit loss expense | 418 | 81 |
| Amortization of debt discount and issuance costs | 38 | 826 |
| Change in fair value of convertible notes derivative liability | — | 1,700 |
| Other | 4 | (3) |
| Changes in assets and liabilities: | ||
| Accounts receivable | 14,311 | 19,925 |
| Other current and long-term assets | (23,890) | (2,136) |
| Accounts payable | 273 | (1,214) |
| Due to third-party publishers | (7,451) | (5,632) |
| Accrued expenses | (3,559) | (10,197) |
| Deferred revenue | 612 | 1,562 |
| User redemption liability | (1,525) | (1,541) |
| Other current and long-term liabilities | 23,993 | (148) |
| Net cash provided by operating activities | 19,860 | 19,366 |
| Investing activities | ||
| Additions to property and equipment | (1,894) | (152) |
| Additions to capitalized software development costs | (3,074) | (2,315) |
| Net cash used in investing activities | (4,968) | (2,467) |
| Financing activities | ||
| Proceeds from exercise of stock options | 3,360 | 1,799 |
| Debt issuance costs | (2) | — |
| Deferred offering costs | — | (1,700) |
| Purchase of treasury stock | (69,778) | — |
| Taxes paid related to net share settlement of equity awards | (629) | — |
| Other financing activities | — | (90) |
| Net cash (used in) provided by financing activities | (67,049) | 9 |
| Net change in cash, cash equivalents, and restricted cash | (52,157) | 16,908 |
| Cash, cash equivalents, and restricted cash, beginning of period | 349,690 | 62,591 |
| Cash, cash equivalents, and restricted cash, end of period | $297,533 | $79,499 |
CONDENSED STATEMENTS OF CASH FLOWS, CONT.
(In thousands)
| Three Months Ended March 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Supplemental disclosures of cash flow information | ||
| Interest paid | $21 | $1,993 |
| Supplemental disclosures of non-cash investing and financing activities | ||
| Deferred offering costs not yet paid | $— | $2,154 |
| Stock-based compensation included in capitalized software development costs | $261 | $105 |
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