Ibotta, Inc. Class A ( (IBTA) ) has released its Q2 earnings. Here is a breakdown of the information Ibotta, Inc. Class A presented to its investors.
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Ibotta, Inc. is a leading provider of digital promotions for consumer packaged goods (CPG) brands, operating the largest item-level digital promotions network in North America, known as the Ibotta Performance Network (IPN). The company enables marketers to drive sales through digital offers and promotions, reaching over 200 million consumers.
In its second-quarter 2025 financial results, Ibotta reported a slight decline in revenue by 2% year-over-year, amounting to $86.0 million. Despite the revenue dip, the company achieved a net income of $2.5 million and an adjusted EBITDA of $17.9 million, indicating a 21% adjusted EBITDA margin. The company also generated substantial cash from operating activities, totaling $25.9 million, and free cash flow of $18.9 million.
Key highlights from the quarter include a 27% increase in redeemers on the Ibotta Performance Network, driven by the launch of Instacart and a partial launch of DoorDash. Additionally, Ibotta saw a 12% increase in third-party publisher redemptions. However, the company experienced a decrease in direct-to-consumer redemptions and revenue, reflecting a shift in consumer behavior and market dynamics.
Looking ahead, Ibotta’s management remains optimistic about capturing a larger share of the CPG marketing spend by transforming how promotions are perceived and measured. The company is focusing on performance marketing and expanding its network to unlock further growth opportunities. With new leadership in place, including the appointment of a new CFO, Ibotta is poised for its next phase of growth.