Ibotta (IBTA) financial statements
Ibotta reported revenue of $342M in fiscal 2025, up 17.6% a year over 3 years.
Net income was $4M and the operating margin -0.2%, against -19.1% in 2022.
Free cash flow was $61M, and the company returned $233M in net buybacks.
The diluted share count rose 247% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Ibotta's 10-K filings with the SEC.
| Fiscal year | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue | $211M | $320M | $367M | $342M |
| Cost of revenue | $46M | $44M | $50M | $71M |
| Gross profit | $165M | $276M | $317M | $271M |
| Research and development | $43M | $50M | $63M | $61M |
| Selling, general and admin | $159M | $166M | $222M | $207M |
| Operating income | -$40M | $56M | $28M | -$841,000 |
| Interest expense | $6M | $9M | $4M | $500,000 |
| Pre-tax income | -$55M | $44M | $24M | $10M |
| Income tax | $262,000 | $6M | -$44M | $6M |
| Net income | -$55M | $38M | $69M | $4M |
| EPS (diluted) | -$6.33 | $1.42 | $2.56 | $0.12 |
| Diluted shares | 9M | 27M | 27M | 30M |
| Gross margin | 78.1% | 86.3% | 86.4% | 79.2% |
| Operating margin | -19.1% | 17.5% | 7.6% | -0.2% |
| Net margin | -26.0% | 11.9% | 18.7% | 1.0% |
Balance sheet
Fiscal years, from Ibotta's 10-K filings with the SEC.
| Fiscal year | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Cash and short-term investments | $18M | $63M | $349M | $187M |
| Receivables | — | $226M | $221M | $209M |
| Total current assets | — | $298M | $582M | $408M |
| Property, plant and equipment | — | $3M | $2M | $23M |
| Total assets | — | $320M | $678M | $526M |
| Total current liabilities | — | $198M | $204M | $208M |
| Long-term debt | — | $64M | $0 | — |
| Total liabilities | — | $292M | $221M | $238M |
| Shareholders' equity | -$35M | $28M | $457M | $288M |
| Net debt | -$18M | $2M | -$349M | -$187M |
Cash flow
Fiscal years, from Ibotta's 10-K filings with the SEC.
| Fiscal year | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Operating cash flow | -$56M | $23M | $116M | $95M |
| Capital spending | $7M | $8M | $10M | $34M |
| Free cash flow | -$64M | $14M | $106M | $61M |
| Stock-based compensation | $6M | $7M | $47M | $44M |
| Share buybacks (net) | -$25,000 | $0 | -$31M | -$233M |
| Free cash flow margin | -30.1% | 4.5% | 28.8% | 17.8% |
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Open IBTA in InvestinglyQuestions
What was Ibotta's revenue in 2025?
$342M in fiscal 2025, from its 10-K filing.
How much free cash flow does Ibotta generate?
$61M in fiscal 2025 (operating cash flow minus capital spending).
From Ibotta's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.