Ibotta, Inc. (IBTA) Income Statement
IBTA 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsIBTA revenue and net income
Where IBTA's revenue goes
2025Each bar shows an amount and its share of revenue. IBTA kept 1.0% of revenue as net income.
IBTA profit margins
IBTA growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −6.8% | +17.6% | — | — |
| Gross profit | −15.7% | +18.3% | — | — |
| Operating income | −94.1% | — | — | — |
| Net income | −94.8% | — | — | — |
| EPS (diluted) | −35.1% | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
IBTA quarterly EPS vs estimates
Ibotta beat the analyst EPS estimate in 2 of the last 8 quarters. Next report: November 2, 2026 (estimate $0.13).
IBTA income statement
| 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| Revenue | $342.4M | $367.3M | $320.0M | $210.7M |
| Cost of revenue | $75.0M | $50.1M | $47.7M | $49.2M |
| Gross profit | $267.4M | $317.1M | $272.4M | $161.5M |
| Research & development | $61.1M | $63.3M | $50.0M | $42.6M |
| Sales, general & admin | $207.2M | $222.0M | $166.4M | $159.2M |
| Total operating expenses | $265.8M | $289.2M | $216.4M | $201.8M |
| Operating income | $1.7M | $27.9M | $56.0M | −$40.3M |
| Interest expense | — | — | $6.9M | $5.3M |
| Income before taxes | $9.8M | $24.5M | $44.1M | −$54.6M |
| Income taxes | $6.3M | −$44.2M | $5.9M | $262,000 |
| Net income | $3.6M | $68.7M | $38.1M | −$54.9M |
| EBITDA | $18.2M | $32.6M | $57.6M | −$43.0M |
| EPS (diluted) | $1.70 | $2.62 | $0.67 | −$1.81 |
| Gross margin | 78.1% | 86.4% | 85.1% | 76.6% |
| Operating margin | 0.5% | 7.6% | 17.5% | −19.1% |
| Net margin | 1.0% | 18.7% | 11.9% | −26.0% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $88.9M | $82.5M | $88.5M | $83.3M | $86.0M | $84.6M | $98.4M | $98.6M | $87.9M | $82.3M | $99.7M | $85.3M |
| Cost of revenue | $19.2M | $21.0M | $18.3M | $17.8M | $17.9M | $17.1M | $15.2M | $12.2M | $12.3M | $10.5M | $12.3M | $12.3M |
| Gross profit | $69.7M | $61.5M | $70.3M | $65.5M | $68.1M | $67.5M | $83.2M | $86.4M | $75.6M | $71.8M | $87.4M | $73.0M |
| Research & development | $15.1M | $14.5M | $14.2M | $14.0M | $14.7M | $18.1M | $15.8M | $16.3M | $17.5M | $13.6M | $13.7M | $12.4M |
| Sales, general & admin | $54.7M | $57.8M | $55.8M | $49.1M | $51.1M | $51.2M | $53.6M | $48.4M | $78.7M | $41.3M | $46.8M | $49.7M |
| Total operating expenses | $71.6M | $72.3M | $71.9M | $63.1M | $66.9M | $70.3M | $70.3M | $65.7M | $97.3M | $55.9M | $61.1M | $62.1M |
| Operating income | −$1.9M | −$10.8M | −$1.6M | $2.4M | $1.2M | −$2.8M | $13.0M | $20.7M | −$21.7M | $15.9M | $26.3M | $10.9M |
| Interest income | $1.4M | — | — | $2.5M | $2.6M | — | — | $4.4M | $2.7M | — | — | — |
| Interest expense | — | — | — | — | — | $3.7M | — | — | — | $1.8M | $2.1M | $1.6M |
| Income before taxes | −$532,000 | −$9.4M | $244,000 | $5.3M | $3.9M | $483,000 | $17.0M | $25.1M | −$30.0M | $12.4M | $22.3M | $7.8M |
| Income taxes | $697,000 | $969,000 | $1.2M | $3.7M | $1.4M | −$72,000 | −$59.2M | $7.9M | $3.9M | $3.1M | $3.7M | −$610,000 |
| Net income | −$1.2M | −$10.3M | −$1.0M | $1.5M | $2.5M | $555,000 | $76.2M | $17.2M | −$34.0M | $9.3M | $18.6M | $8.4M |
| EBITDA | $2.8M | −$6.5M | $2.7M | $6.5M | $4.9M | $2.6M | $16.6M | $27.3M | −$27.9M | $16.1M | $25.4M | $11.9M |
| EPS (diluted) | −$0.19 | $0.24 | $0.29 | $0.56 | $0.49 | $0.36 | $0.67 | $0.94 | $0.68 | $0.33 | $0.67 | — |
| Gross margin | 78.4% | 74.5% | 79.4% | 78.6% | 79.2% | 79.8% | 84.6% | 87.7% | 86.0% | 87.2% | 87.6% | 85.6% |
| Operating margin | −2.1% | −13.1% | −1.9% | 2.8% | 1.4% | −3.3% | 13.2% | 21.0% | −24.6% | 19.3% | 26.3% | 12.7% |
| Net margin | −1.4% | −12.5% | −1.1% | 1.8% | 2.9% | 0.7% | 77.4% | 17.5% | −38.6% | 11.3% | 18.7% | 9.9% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in IBTA's financial statements (latest annual report filed February 25, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
IBTA financial results
In fiscal year 2025 (ended December 31, 2025), Ibotta reported revenue of $342.4 million, down 6.8% from the year before. It had net income of $3.6 million (down 94.8%), a net profit margin of 1.0%. Diluted earnings per share came to $1.70.
See the IBTA stock overview for the latest quote and news, or the IBTA chart for price history and technical indicators.
IBTA income statement FAQ
What is Ibotta's annual revenue?
Ibotta reported total revenue of $342.4 million for fiscal year 2025, which ended on December 31, 2025. That was down 6.8% from $367.3 million the previous year.
Is Ibotta profitable?
Yes. Ibotta reported net income of $3.6 million in fiscal 2025, a net profit margin of 1.0%; its operating margin was 0.5%.
What is Ibotta's gross margin?
Ibotta's gross margin was 78.1% in fiscal 2025: for every $100 of revenue, Ibotta kept $78 after the direct cost of its products and services.
How much does Ibotta spend on research and development?
Ibotta spent $61.1 million on research and development in fiscal 2025, 17.8% of revenue.
What are Ibotta's earnings per share?
Ibotta earned $1.70 per diluted share in fiscal 2025, compared with $2.62 a year earlier.
When will Ibotta report its next earnings?
Ibotta is expected to report results for the quarter ending September 30, 2026 on November 2, 2026 after the market closes.
When does Ibotta's fiscal year end?
Ibotta's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 25, 2026.