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Ibotta, Inc. (IBTA) 10-Year Financial Performance & Capital Metrics

IBTA •
TechnologyApplication SoftwareMarketing automation and ad technology
AboutIbotta, Inc. operates as a technology company that offers Ibotta Performance Network (IPN) that allows consumer packaged goods brands to deliver digital promotions to consumers. It offers promotional services to publishers, retailers, and advertisers through the IPN. The company was formerly known as Zing Enterprises, Inc. and changed its name to Ibotta, Inc. in 2012. The company was incorporated in 2011 and is based in Denver, Colorado.Show more
  • Revenue $342M -6.8%
  • EBITDA $3M -91.5%
  • Net Income $16M -76.6%
  • EPS (Diluted) 0.12 -95.3%
  • Gross Margin 79.25% -8.2%
  • EBITDA Margin 0.9% -90.8%
  • Operating Margin -0.25% -103.2%
  • Net Margin 4.71% -74.8%
  • ROE 4.33% -84.7%
  • ROIC -0.54% -101.8%
  • Debt/Equity 0.09
  • Interest Coverage -
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Company is almost debt free
  • ✓Excellent 3Y average ROE of 56.4%
  • ✓FCF machine: 21.9% free cash flow margin
  • ✓High quality earnings: Operating CF exceeds net income

✗Weaknesses

  • ✗Shares diluted 12.1% in last year
  • ✗Trading more than 30% below 52-week high

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-
5Y-
3Y17.57%
TTM-6.77%

Profit (Net Income) CAGR

10Y-
5Y-
3Y-
TTM-76.55%

EPS CAGR

10Y-
5Y-
3Y-
TTM-93.22%

ROCE

10Y Avg-1.2%
5Y Avg-1.2%
3Y Avg24.66%
Latest-0.21%

Peer Comparison

Marketing automation and ad technology
Select Columns
Size & Scale
Valuation
Per Share
Growth
Profitability
Quality & Returns
Safety & Leverage
TTM Growth
Famous Investor Metrics
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Latest Quarter
Momentum & Returns
Total Return (DRIP)
Technical
Volume & Trading
Shares & Dilution
Sector-Specific
NameMarket CapCurrent PriceP/E RatioRevenue Growth 1YNet MarginROEFCF YieldDebt/Equity
SEMRSemrush Holdings, Inc.248.45M11.82213.7422.47%-1.05%-1.51%17.39%0.05
IBTAIbotta, Inc.807.89M24.97208.08-6.77%4.71%5.6%9.28%0.09
SRADSportradar Group AG3.97B18.26154.8126.09%7.72%9.63%3.72%0.05
DSPViant Technology Inc.463.5M10.1384.4229.74%1.85%2.32%10.63%0.09
APPAppLovin Corporation133.89B434.7744.5916.38%60.83%156.17%2.97%1.66
DVDoubleVerify Holdings, Inc.1.71B10.5435.1313.92%6.77%4.48%10.12%0.09
TTDThe Trade Desk, Inc.11.55B23.8226.1818.47%15.31%17.84%6.89%0.18
GTMZoomInfo Technologies Inc.1.91B6.2115.922.9%9.94%8.23%20.37%1.20

Compare IBTA vs Peers

Analyze head-to-head performance against top industry competitors across valuation, growth, and profitability metrics.

vs APP

Compare head-to-head with AppLovin Corporation

vs TTD

Compare head-to-head with The Trade Desk, Inc.

Compare Top 5

vs APP, TTD, SRAD, GTM

Profit & Loss

Dec 2022Dec 2023Dec 2024Dec 2025
Sales/Revenue+210.7M320.04M367.25M342.39M
Revenue Growth %-51.89%14.75%-6.77%
Cost of Goods Sold+49.22M47.65M50.12M71.06M
COGS % of Revenue23.36%14.89%13.65%20.75%
Gross Profit+161.48M272.38M317.13M271.33M
Gross Margin %76.64%85.11%86.35%79.25%
Gross Profit Growth %-68.68%16.43%-14.44%
Operating Expenses+201.79M216.38M289.21M268.26M
OpEx % of Revenue95.77%67.61%78.75%78.35%
Selling, General & Admin159.23M166.39M221.95M207.18M
SG&A % of Revenue75.57%51.99%60.44%60.51%
Research & Development42.56M50M63.27M61.08M
R&D % of Revenue20.2%15.62%17.23%17.84%
Other Operating Expenses003.98M0
Operating Income+-40.31M56M27.93M-841K
Operating Margin %-19.13%17.5%7.6%-0.25%
Operating Income Growth %-238.91%-50.13%-103.01%
EBITDA+-33.99M62.66M36.01M3.07M
EBITDA Margin %-16.13%19.58%9.8%0.9%
EBITDA Growth %-284.34%-42.54%-91.47%
D&A (Non-Cash Add-back)6.32M6.66M8.08M3.91M
EBIT-40.31M56M24.5M0
Net Interest Income+-5.31M-6.88M9.41M0
Interest Income009.41M0
Interest Expense5.31M6.88M00
Other Income/Expense-14.29M-11.95M-3.43M10.69M
Pretax Income+-54.6M44.05M24.5M9.85M
Pretax Margin %-25.91%13.76%6.67%2.88%
Income Tax+262K5.93M-44.25M-6.27M
Effective Tax Rate %100.48%86.53%280.63%163.69%
Net Income+-54.86M38.12M68.74M16.12M
Net Margin %-26.04%11.91%18.72%4.71%
Net Income Growth %-169.48%80.34%-76.55%
Net Income (Continuing)-54.86M38.12M68.74M16.12M
Discontinued Operations0000
Minority Interest0000
EPS (Diluted)+-1.811.262.560.12
EPS Growth %-169.61%103.17%-95.31%
EPS (Basic)-1.811.262.850.13
Diluted Shares Outstanding30.24M30.24M26.86M30.1M
Basic Shares Outstanding30.24M30.24M24.12M28.37M
Dividend Payout Ratio----

Balance Sheet

Dec 2022Dec 2023Dec 2024Dec 2025
Total Current Assets+174.46M298.34M581.74M407.93M
Cash & Short-Term Investments45.5M62.59M349.28M186.61M
Cash Only17.82M62.59M349.28M186.61M
Short-Term Investments27.68M000
Accounts Receivable121.56M226.44M220.88M208.71M
Days Sales Outstanding210.58258.25219.53222.49
Inventory0000
Days Inventory Outstanding----
Other Current Assets7.4M922K1.24M12.6M
Total Non-Current Assets+20.62M21.45M96.69M117.99M
Property, Plant & Equipment5.56M3.37M1.95M33.34M
Fixed Asset Turnover37.91x94.91x188.24x10.27x
Goodwill0000
Intangible Assets8.75M12.84M16.2M0
Long-Term Investments4.53M4.53M4.53M0
Other Non-Current Assets263K699K74M29.8M
Total Assets+195.08M319.79M678.43M525.91M
Asset Turnover1.08x1.00x0.54x0.65x
Asset Growth %-63.93%112.15%-22.48%
Total Current Liabilities+143.9M198.15M204.16M207.76M
Accounts Payable5.86M8.94M7.16M10.84M
Days Payables Outstanding43.4568.4552.1455.68
Short-Term Debt0000
Deferred Revenue (Current)3.05M2.63M4.96M2.94M
Other Current Liabilities117.63M107M94.46M193.99M
Current Ratio1.21x1.51x2.85x1.96x
Quick Ratio1.21x1.51x2.85x1.96x
Cash Conversion Cycle----
Total Non-Current Liabilities+85.98M93.71M16.98M30.5M
Long-Term Debt61.05M64.45M025.5M
Capital Lease Obligations0000
Deferred Tax Liabilities0000
Other Non-Current Liabilities24.93M29.26M16.98M5M
Total Liabilities229.87M291.86M221.15M238.26M
Total Debt+61.05M64.45M025.5M
Net Debt43.23M1.86M-349.28M-161.11M
Debt / Equity-2.31x-0.09x
Debt / EBITDA-1.03x-8.30x
Net Debt / EBITDA-0.03x-9.70x-52.43x
Interest Coverage-7.59x8.13x--
Total Equity+-34.79M27.93M457.28M287.65M
Equity Growth %-180.27%1537.36%-37.1%
Book Value per Share-1.150.9217.029.56
Total Shareholders' Equity-34.79M27.93M457.28M287.65M
Common Stock0000
Retained Earnings-247.31M-209.19M-140.45M-136.87M
Treasury Stock00-31.32M0
Accumulated OCI-126K000
Minority Interest0000

Cash Flow

Dec 2022Dec 2023Dec 2024Dec 2025
Cash from Operations+-56.5M22.72M115.92M95.27M
Operating CF Margin %-26.81%7.1%31.56%27.83%
Operating CF Growth %-140.21%410.29%-17.81%
Net Income-54.86M38.12M68.74M3.58M
Depreciation & Amortization6.32M6.66M8.08M8.32M
Stock-Based Compensation6.5M6.99M46.92M44.14M
Deferred Taxes0003.15M
Other Non-Cash Items12.32M22.55M44.94M36.09M
Working Capital Changes-26.78M-51.6M-52.76M0
Change in Receivables-34.51M-105.71M4.4M10.24M
Change in Inventory0000
Change in Payables-4.53M1.82M-911K355K
Cash from Investing+-35.68M19.67M-10.2M-34.3M
Capital Expenditures-8.26M-548K-871K-20.29M
CapEx % of Revenue3.92%0.17%0.24%5.93%
Acquisitions0000
Investments----
Other Investing0-7.68M-9.33M-14.01M
Cash from Financing+74.05M2.38M181.38M-224.05M
Debt Issued (Net)73.33M000
Equity Issued (Net)1000K1000K1000K0
Dividends Paid0000
Share Repurchases00-31.32M0
Other Financing-75.41M-12K6.01M-224.05M
Net Change in Cash-18.13M44.77M287.1M-163.08M
Free Cash Flow+-64.76M14.49M105.72M74.98M
FCF Margin %-30.74%4.53%28.79%21.9%
FCF Growth %-122.37%629.68%-29.07%
FCF per Share-2.140.483.942.49
FCF Conversion (FCF/Net Income)1.03x0.60x1.69x5.91x
Interest Paid3.52M5.49M2.58M0
Taxes Paid71K4.11M13.21M0

Key Ratios

Metric2022202320242025
Return on Equity (ROE)-136.48%28.33%4.33%
Return on Invested Capital (ROIC)-358.23%219.75%30.4%-0.54%
Gross Margin76.64%85.11%86.35%79.25%
Net Margin-26.04%11.91%18.72%4.71%
Debt / Equity-2.31x-0.09x
Interest Coverage-7.59x8.13x--
FCF Conversion1.03x0.60x1.69x5.91x
Revenue Growth-51.89%14.75%-6.77%

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