Revenue and Adjusted EBITDA Exceed Expectations
Ibotta delivered first quarter revenue of $84.6 million, up 3% year-over-year, and adjusted EBITDA of $14.7 million with a margin of 17%, both exceeding guidance by 3% and 22%, respectively.
Successful CPID Campaigns with Major CPG Clients
Ibotta reported successful campaigns with two major CPG clients, leading to a doubling and an 8x increase in redemption revenue year-over-year for these clients.
Expansion of Partnerships with Instacart and DoorDash
Ibotta expanded its network with the integration of Instacart and DoorDash, leading to attractive redemption rates and the inclusion of new categories like beer, wine, and spirits.
Growth in Total Redeemers
Total redeemers increased to 17.1 million, up 37% year-over-year, with growth driven by Instacart's launch and expansion with other partners like Walmart and Family Dollar.
Reduced Turnover in Sales Team
Turnover among sellers decreased significantly from Q4 2024 to Q1 2025, indicating improved sales team stability.