Ibotta, Inc.
For the period ended Sep 30, 2025. Filed Nov 13, 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.
Sep 30, 2025 · Filed Nov 13, 2025
IBTA$59.91+3.1%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Statements of Cash Flows
(In thousands)
| Nine months ended September 30, | ||
|---|---|---|
| 2025 | 2024 | |
| Operating activities | ||
| Net income (loss) | $4,578 | $(7,430) |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||
| Depreciation and amortization | 5,853 | 6,160 |
| Impairment of capitalized software development costs | 256 | 437 |
| Stock-based compensation expense | 33,462 | 36,253 |
| Common stock warrant expense | 6,554 | 27,084 |
| Credit loss expense | 1,916 | 1,217 |
| Loss on extinguishment of debt | — | 9,630 |
| Amortization of debt discount and issuance costs | 114 | 1,036 |
| Change in fair value of convertible notes derivative liability | — | 3,085 |
| Other | 14 | 36 |
| Changes in assets and liabilities: | ||
| Accounts receivable | 6,145 | (2,561) |
| Other current and long-term assets | (1,723) | (977) |
| Accounts payable | 1,468 | 188 |
| Due to third-party publishers | 4,719 | 23,182 |
| Accrued expenses | (3,034) | (5,926) |
| Deferred revenue | (274) | 2,128 |
| User redemption liability | (4,451) | (4,499) |
| Other current and long-term liabilities | 11,872 | 4,887 |
| Net cash provided by operating activities | 67,469 | 93,930 |
| Investing activities | ||
| Additions to property and equipment | (12,768) | (655) |
| Additions to capitalized software development costs | (10,360) | (7,001) |
| Net cash used in investing activities | (23,128) | (7,656) |
| Financing activities | ||
| Proceeds from exercise of stock options | 8,312 | 7,649 |
| Debt issuance costs | (2) | — |
| Proceeds from initial public offering, net | — | 206,692 |
| Deferred offering costs | — | (5,972) |
| Purchase of treasury stock | (178,180) | (15,611) |
| Taxes paid related to net share settlement of equity awards | (2,843) | (246) |
| Proceeds from employee stock purchase plan | 2,036 | — |
| Other financing activities | — | (103) |
| Net cash (used in) provided by financing activities | (170,677) | 192,409 |
| Net change in cash, cash equivalents, and restricted cash | (126,336) | 278,683 |
| Cash, cash equivalents, and restricted cash, beginning of period | 349,690 | 62,591 |
| Cash, cash equivalents, and restricted cash, end of period | $223,354 | $341,274 |
CONDENSED STATEMENTS OF CASH FLOWS, CONT.
(In thousands)
| Nine months ended September 30, | ||
|---|---|---|
| 2025 | 2024 | |
| Supplemental disclosures of cash flow information | ||
| Interest paid | $171 | $2,529 |
| Income taxes paid | $4,333 | $8,134 |
| Supplemental disclosures of non-cash investing and financing activities | ||
| Deferred offering costs not yet paid | $— | $65 |
| Share repurchase excise tax in accrued expenses | $1,788 | $— |
| Stock-based compensation included in capitalized software development costs | $836 | $317 |
| Property and equipment in accounts payable and accrued expenses | $5,950 | $119 |
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