Instacart reported a strong start to the year with robust growth in orders, advertising revenue, and strategic acquisitions. The company is leveraging AI for innovation and expanding its market presence. However, challenges such as a decrease in GAAP net income and concerns over macroeconomic conditions present risks.

Company Guidance -

Q3 2025

During Instacart's first quarter 2025 earnings call, the company provided guidance indicating robust performance and strategic initiatives for continued growth. The Gross Transaction Value (GTV) was at the top end of the guidance range, with a 10% year-over-year increase driven by a 14% rise in orders. Average order value decreased by 4% year-over-year due to the inclusion of restaurant orders and reduced minimum basket size for Instacart+ members. Transaction revenue grew 8% year-over-year, while advertising and other revenue increased by 14% year-over-year, outpacing GTV growth. The adjusted EBITDA exceeded expectations, growing 23% year-over-year, and operating cash flow improved significantly. The company ended the quarter with $1.8 billion in cash and similar assets, having repurchased $94 million worth of shares. Instacart's Q2 outlook anticipates GTV growth between 8% to 10% and adjusted EBITDA of $240 million to $250 million, indicating continued strong performance amid macroeconomic uncertainties.

Strong Q1 Performance

Instacart delivered GTV at the top end of guidance, growing 10% year-over-year, driven by a 14% increase in orders. Adjusted EBITDA of $244 million exceeded guidance, growing 23% year-over-year.

Advertising Revenue Growth

Advertising and other revenue increased by 14% year-over-year, outpacing GTV growth with strong contributions from both large and emerging brand partners.

Expansion of Instacart+ and User Engagement

Instacart+ adoption and user engagement increased, with small basket orders driving higher order frequency and new customer acquisition.

Strategic Acquisition of Wynshop

Instacart acquired Wynshop to expand enterprise strategy, enhancing storefronts for more retailers and strengthening its position in the market.

AI-Driven Innovation

87% of Instacart's code was developed with AI assistance in Q1, enhancing speed and efficiency across operations. AI is pivotal in delivering personalized customer experiences.

Maplebear (CART) Earnings, Revenues Date & History

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CART Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 05, 2025	2025 (Q3)	- / -	0.42	―	―	―
Aug 07, 2025	2025 (Q2)	0.39 / 0.41	0.2	105.00% (+0.21)	―
May 01, 2025	2025 (Q1)	0.38 / 0.37	0.43	-13.95% (-0.06)	―
Feb 25, 2025	2024 (Q4)	0.38 / 0.53	0.44	20.45% (+0.09)	―
Nov 12, 2024	2024 (Q3)	0.22 / 0.42	-20.86	102.01% (+21.28)	―
Aug 06, 2024	2024 (Q2)	0.13 / 0.20	0.01	1900.00% (+0.19)	―
May 08, 2024	2024 (Q1)	-0.02 / 0.43	0	―	―
Feb 13, 2024	2023 (Q4)	-0.07 / 0.44	0.416	5.77% (+0.02)	―
Nov 08, 2023	2023 (Q3)	-0.78 / -20.86	0	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

CART Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
May 01, 2025	$39.80	$45.22	+13.62%
Feb 25, 2025	$48.78	$42.80	-12.26%
Nov 12, 2024	$48.34	$43.02	-11.01%
Aug 06, 2024	$31.43	$32.31	+2.80%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.