Ibotta, Inc.
home.ibotta.comWhat Do They Do?
Connects consumer packaged-goods brands and retailers with shoppers through digital promotions distributed on retail and delivery apps and its own cash-back app.
10-K for FY2025, filed Feb 26, 2026Ibotta’s mission is to Make Every Purchase Rewarding. We accomplish this mission by delivering digital promotions to consumers through the…View ↗
Clients. Ibotta sources digital promotions from clients, retailers, and their media buying agencies. Each digital promotion is loaded into…View ↗
Publishers. We distribute our digital offers through our D2C properties and a growing network of third-party publishers that host our…View ↗
Consumers redeem offers through our third-party publisher properties or directly on our D2C properties.View ↗
How Do They Make Money?
Consumer brands pay a fee for each redeemed promotion, and Ibotta generally bills clients monthly. Advertisers also pay for ad placements as the advertising runs.
10-K for FY2025, filed Feb 26, 2026The Company's clients promote their products and services to consumers through rewards offered on the IPN. The Company's performance…View ↗
The Company primarily derives revenue from the redemption of digital promotions. The clients that contract with the Company to deliver the…View ↗
The Company's clients may also run advertisements such as banners, tiles, newsletters, and feature placements on D2C properties to promote…View ↗
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10-K for FY2025, filed Feb 26, 2026
FY2025 revenue by product or service ↗
$342.4M
-
10-K for FY2025, filed Feb 26, 2026
$342.4M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Redemption revenue
Usage-based
10-K for FY2025, filed Feb 26, 2026 |
87%
FY2022: 66%
|
Redemption revenue, FY2025
$297.2M Sources
|
Usage-based |
|
Ad & other revenue
Recurring
10-K for FY2025, filed Feb 26, 2026 |
13%
FY2022: 34%
|
Ad & other revenue, FY2025
$45.2M Sources
|
Recurring |
Who Are Their Customers?
Consumer packaged-goods brands and some retailers hire Ibotta for promotions; shoppers access offers through retail and delivery partners’ apps or Ibotta’s app, website, and browser extension.
10-K for FY2025, filed Feb 26, 2026Ibotta’s mission is to Make Every Purchase Rewarding. We accomplish this mission by delivering digital promotions to consumers through the…View ↗
Clients. Ibotta sources digital promotions from clients, retailers, and their media buying agencies. Each digital promotion is loaded into…View ↗
Publishers. We distribute our digital offers through our D2C properties and a growing network of third-party publishers that host our…View ↗
Consumers redeem offers through our third-party publisher properties or directly on our D2C properties.View ↗
Do Revenues Turn Into Profits?
Yes. It kept 1 cent of every revenue dollar as net income in FY2025 and turned 22 cents into free cash flow.
10-K for FY2025, filed Feb 26, 2026
−$841KView ↗
10-K for FY2025, filed Feb 26, 2026
$3.6MView ↗
10-K for FY2025, filed Feb 26, 2026
$75MView ↗
How Are They Changing?
- Net income
-
Sources
10-Q for Q2 FY2026, filed Aug 4, 2026
−$1.2MView ↗
- ▼ Now a loss
- vs $2.5M in Q2 FY2025
10-Q for Q2 FY2026, filed Aug 4, 2026
Open tableView ↗
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Aug 3, 2026
Announced a 7-Eleven promotions partnership and third-quarter financial outlook
The release gave revenue and adjusted EBITDA outlook; 7-Eleven named Ibotta its exclusive third-party provider of CPG digital promotions across its apps.
Sources
8-K, filed Aug 3, 2026
Ibotta offers became available to Uber customers during the quarter with the overall program expected to ramp in the coming months.…View ↗
Growing. Revenue grew 62% in 3 years, from $210.7M in FY2022 to $342.4M in FY2025, about 18% a year.
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