Instacart (Maplebear Inc.) (CART) Revenue History
Annual and quarterly revenue from 2020 to 2024
Compound Annual Growth Rate (CAGR)
Loading revenue history...
Revenue Growth Metrics
Revenue Breakdown (FY 2024)
CART's revenue distribution by segment and geography for fiscal year 2024
By Product/Segment
By Geography
CART Revenue Analysis (2020–2024)
As of March 1, 2026, Instacart (Maplebear Inc.) (CART) generated trailing twelve-month (TTM) revenue of $3.63 billion, reflecting strong growth of +10.2% year-over-year. The most recent quarter (Q3 2025) recorded $939.0 million in revenue, up 2.7% sequentially.
Looking at the longer-term picture, CART's historical revenue data shows a 3-year CAGR of +22.6%. The company achieved its highest annual revenue of $3.38 billion in 2024, representing a new all-time high.
Revenue diversification analysis shows CART's business is primarily driven by Transaction (72%), and Advertising And Other (28%). With over half of revenue concentrated in Transaction, the company maintains significant focus in this area while developing other growth vectors.
When compared to Consumer Cyclical sector peers including CASY (+13.3% YoY), MUSA (-4.2% YoY), and ARKO (-12.5% YoY), CART has underperformed the peer group in terms of revenue growth. Compare CART vs CASY →
Peer Comparison
Compare CART's revenue metrics with industry peers
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| CARTCurrent | $3.6B | +10.2% | - | 14.5% | |
| CASY | $15.9B | +13.3% | +11.7% | 5.0% | |
| MUSA | $20.2B | -4.2% | +7.6% | 3.7% | |
| ARKO | $7.6B | -12.5% | +13.8% | 1.3% | |
| WNW | $158,485 | -52.1% | -54.0% | -1291.6% | |
| WBUY | $58M | - | - | -15.1% |
Historical Revenue Data
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2024 | $3.38B | +11.0% | $2.54B | 75.3% | $489.0M | 14.5% |
| 2023 | $3.04B | +19.2% | $2.28B | 74.9% | $-2,142,000,000 | -70.4% |
| 2022 | $2.55B | +39.1% | $1.83B | 71.8% | $62.0M | 2.4% |
| 2021 | $1.83B | +24.2% | $1.23B | 66.8% | $-86,000,000 | -4.7% |
| 2020 | $1.48B | - | $879.0M | 59.5% | $-75,000,000 | -5.1% |
See CART's True Return
Price is only half the story. See total return with reinvested dividends.
Launch CalculatorIs CART Undervalued?
See our Bear / Base / Bull DCF models and intrinsic value estimates.
View ValuationCompare CART vs BABA
See how CART stacks up against sector leader Alibaba Group Holding Limited.
Start ComparisonFrequently Asked Questions
Is CART's revenue growth accelerating or slowing?
CART maintains +10.2% revenue growth, in line with its 5-year CAGR of N/A. TTM revenue stands at $3.6B. Growth rate remains consistent with historical average.
What is CART's long-term revenue growth rate?
Instacart (Maplebear Inc.)'s 5-year revenue CAGR of N/A reflects the sustained expansion pattern. Current YoY growth of +10.2% is near this long-term average.
How is CART's revenue distributed by segment?
CART reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2020-2024 are available for download. Segment mix reveals concentration and diversification trends.