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Ibotta, Inc., a technology company, provides digital promotion services to clients in the United States. The company sources digital promotions from its clients primarily consumer packaged goods brands and distributes these promotions to consumers through its network of publishers enabled by Ibotta Performance Network (IPN), a technology platform. It offers promotional services through the IPN, including direct-to-consumer mobile, web, and browser extension properties, as well as third-party publisher properties. The company also provides display ads, tiles, sponsored offers, newsletters, and feature placements. In addition, it offers LiveLift, a set of capabilities designed for brands to drive sales. The company serves consumer packaged goods brands. The company was formerly known as Zing Enterprises, Inc. and changed its name to Ibotta, Inc. in 2012. Ibotta, Inc. was incorporated in 2011 and is headquartered in Denver, Colorado.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $342M | $7M | $4M | $61M | 1.2% | -6.8% | -94.8% |
| 2024 | $367M | $36M | $69M | $106M | 15.0% | 14.8% | 80.3% |
| 2023 | $320M | $63M | $38M | $14M | 136.5% | 51.9% | -169.5% |
| 2022 | $211M | $-34M | $-55M | $-65M | 157.7% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 210.70 | 320.04 | 367.25 | 342.39 |
| Operating Revenue | 210.70 | 320.04 | 367.25 | 342.39 |
| Cost Of Revenue | 46.18 | 43.99 | 50.12 | 71.06 |
| Gross Profit | 164.53 | 276.04 | 317.13 | 271.33 |
| Operating Expense | 204.84 | 220.05 | 289.21 | 272.18 |
| Research And Development | 42.56 | 50 | 63.27 | 61.08 |
| Selling General And Administration | 159.23 | 166.39 | 221.95 | 207.18 |
| Total Expenses | 251.02 | 264.04 | 339.33 | 343.23 |
| Operating Income | -40.31 | 56 | 27.92 | -0.84 |
| Total Operating Income As Reported | -40.31 | 56 | 27.92 | -0.84 |
| EBITDA | -33.99 | 62.66 | 36.01 | 7.48 |
| Normalized EBITDA | -33.99 | 62.66 | 45.69 | 7.48 |
| EBIT | -40.31 | 56 | 27.92 | -0.84 |
| Net Interest Income | -5.31 | -6.88 | 9.41 | 10.78 |
| Other Non Operating Income Expenses | -8.98 | -5.06 | -3.16 | -0.09 |
| Other Income Expense | -8.98 | -5.06 | -12.84 | -0.09 |
| Net Non Operating Interest Income Expense | -5.31 | -6.88 | 9.41 | 10.78 |
| Pretax Income | -54.60 | 44.05 | 24.50 | 9.85 |
| Tax Provision | 0.26 | 5.93 | -44.25 | 6.27 |
| Tax Rate For Calcs | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | 0 | 0 | -2.03 | 0 |
| Net Income Continuous Operations | -54.86 | 38.12 | 68.74 | 3.58 |
| Net Income From Continuing And Discontinued Operation | -54.86 | 38.12 | 68.74 | 3.58 |
| Net Income From Continuing Operation Net Minority Interest | -54.86 | 38.12 | 68.74 | 3.58 |
| Net Income | -54.86 | 38.12 | 68.74 | 3.58 |
| Net Income Common Stockholders | -54.86 | 38.12 | 68.74 | 3.58 |
| Net Income Including Noncontrolling Interests | -54.86 | 38.12 | 68.74 | 3.58 |
| Normalized Income | -54.86 | 38.12 | 76.39 | 3.58 |
| Diluted NI Availto Com Stockholders | -54.86 | 38.12 | 68.74 | 3.58 |
| Basic Average Shares | 9.31 | 30.24 | 24.12 | 28.37 |
| Diluted Average Shares | 28.36 | 30.24 | 26.86 | 30.10 |
| Reconciled Depreciation | 6.32 | 6.66 | 8.08 | 8.32 |
| Reconciled Cost Of Revenue | 42.90 | 40.99 | 46.02 | 66.65 |
| Total Unusual Items | 0 | 0 | -9.69 | 0 |
| Total Unusual Items Excluding Goodwill | 0 | 0 | -9.69 | 0 |
| Special Income Charges | 0 | 0 | -9.69 | 0 |
| Other Special Charges | - | - | 9.69 | - |
| Depreciation Amortization Depletion Income Statement | 3.05 | 3.66 | 3.98 | 3.91 |
| Depreciation And Amortization In Income Statement | 3.05 | 3.66 | 3.98 | 3.91 |
| General And Administrative Expense | 49.16 | 51.63 | 82.74 | 88.24 |
| Other Gand A | 49.16 | 51.63 | 82.74 | 88.24 |
| Total Other Finance Cost | 5.31 | 6.88 | -9.41 | -10.78 |
| Selling And Marketing Expense | 110.07 | 114.76 | 139.21 | 118.94 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Ibotta, Inc.this co. | IBTA | $764M | 213.61↑ premium | 2.65 | 1.2% | 80.56 |
| Cantaloupe, Inc. | CTLP | $826M | 12.91 | 3.25 | 25.2% | 19.06 |
| Red Violet, Inc. | RDVT | $763M | 58.01 | 7.56 | 13.0% | 30.34 |
| PagerDuty, Inc. | PD | $733M | 4.21 | 2.89 | 68.6% | 17.07 |
| Sabre Corporation | SABR | $731M | 1.39 | -0.70 |
| -49.9% |
| 13.78 |
| Daily Journal Corporation | DJCO | $728M | 6.49 | 1.86 | 28.7% | 4.81 |
| N-able, Inc. | NABL | $723M | - | 0.90 | -2.1% | 12.64 |
| Mitek Systems, Inc. | MITK | $719M | 81.70 | 2.99 | 3.7% | 18.48 |
| Frequency Electronics, Inc. | FEIM | $713M | 30.09 | 12.81 | 42.6% | 50.11 |
| Peer Median | - | 12.91 | 2.94 | 19.1% | 17.77 | |