Ibotta, Inc. Reports Modest Revenue Growth in Q1 2025

Ibotta, Inc. Class A ( (IBTA) ) has released its Q1 earnings. Here is a breakdown of the information Ibotta, Inc. Class A presented to its investors.

Ibotta, Inc., a leading performance marketing platform in North America, specializes in digital promotions for consumer packaged goods (CPG) through its Ibotta Performance Network (IPN), which connects brands with consumers via a network of publishers.

In its first quarter of 2025, Ibotta reported a modest 3% increase in total revenue, reaching $84.6 million, alongside an 8% rise in redemption revenue. The company achieved a net income of $0.6 million and an adjusted EBITDA of $14.7 million, indicating a 17% margin. Ibotta’s CEO, Bryan Leach, highlighted the company’s progress in establishing itself as a full-service performance marketing platform for the CPG industry.

Key financial metrics for the quarter included a significant 37% increase in redeemers to 17.1 million, driven by strategic partnerships and expansions, such as the launch of Instacart and Family Dollar. The company also enhanced its redemption numbers by 16% year-over-year. However, net income saw a sharp decline of 94% compared to the previous year, and adjusted EBITDA decreased by 35%.

Strategically, Ibotta announced a multi-year partnership with DoorDash, expanding its digital offers to a broader customer base. The company also successfully launched campaigns with leading CPG clients, showcasing its capabilities in performance marketing.

Looking ahead, Ibotta anticipates continued growth with projected revenue between $86.5 million and $92.5 million for the second quarter of 2025, alongside an expected adjusted EBITDA margin of 22%. The company remains focused on scaling its platform and expanding its client base in the CPG sector.