Instacart exhibited strong growth across GTV, advertising revenue, and gross profit per order, supported by strategic investments in AI and technology. Despite some challenges with large CPG brand spending and a decrease in average order value, the company's overall financial health and continued enhancement of its platform suggest positive momentum.

Company Guidance

In the recent conference call, Instacart provided strong guidance for the future, highlighting several key metrics. The company reported an 11% year-over-year growth in gross transaction value (GTV) for Q2 2025, driven by a 17% increase in orders. The average order value decreased by 5% year-over-year, influenced by the inclusion of restaurant orders and the introduction of a lower basket minimum of $10 for Instacart+ members. Transaction revenue grew by 11% year-over-year, maintaining a consistent rate of 7.3% of GTV. Advertising and other revenue also rose by 12% year-over-year, demonstrating the resilience of Instacart's ads platform despite macroeconomic pressures. For Q3, Instacart projects GTV to range between $9 billion and $9.15 billion, reflecting an 8% to 10% growth, and anticipates adjusted EBITDA between $260 million and $270 million, showcasing the company's strategic growth and operational efficiency.

Growth in Gross Transaction Value (GTV)

Instacart grew GTV by 11% year-over-year, driven by a 17% increase in orders.

Strong Advertising and Other Revenue Growth

Advertising and other revenue grew 12% year-over-year, demonstrating increased resiliency of the ads platform.

Record High Gross Profit Per Order

Gross profit per order grew to over $8 in Q2 due to focus on scale and efficiency.

Scaling of Instacart Ads Platform

The ads platform now exceeds $1 billion in annual run rate revenue, with active brand partners growing from over 4,000 to over 7,500.

AI Integration and Efficiency

More than 80% of code deployed in Q2 was AI-assisted, improving productivity and efficiency across operations.

Share Buybacks and Financial Health

Instacart has repurchased over $1.6 billion worth of shares and has approximately $1.7 billion in cash and similar assets.

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)	0.50 / -	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
Aug 07, 2025	$49.39	$51.21	+3.68%
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%

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.