Ibotta, Inc. Class A (IBTA)
NYSE:IBTA
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Ibotta, Inc. Class A
(NYSE:IBTA)
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Rating:59Neutral
Price Target:
$32.00
▲(0.34% Upside)
Action:ReiteratedDate:04/02/26
The score is supported by improved balance sheet strength and solid recent cash generation, but weighed down by slowing revenue/profitability trends and cautious near-term guidance. Technicals remain in an uptrend but look overbought, and the very high P/E meaningfully detracts from the overall rating.
Positive Factors
Cash generation
Sustained positive operating and free cash flow across 2024–2025 provides durable internal funding for growth, buybacks and investments. Strong FCF reduces reliance on external financing, cushions cyclicality in marketing spend, and supports multi-quarter execution of strategic initiatives.
Negative Factors
Uneven revenue trend
A reversal from prior expansion to a 2025 revenue decline highlights secular and execution risks. Persistent top‑line variability undermines operating leverage, complicates multi‑period planning and weakens pricing leverage with brands unless product adoption and campaign volumes sustainably recover.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash generation
Sustained positive operating and free cash flow across 2024–2025 provides durable internal funding for growth, buybacks and investments. Strong FCF reduces reliance on external financing, cushions cyclicality in marketing spend, and supports multi-quarter execution of strategic initiatives.
Read all positive factors
Ibotta, Inc. Class A (IBTA) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$776.53M
Dividend YieldN/A
Average Volume (3M)314.76K
Price to Earnings (P/E)180.4
Beta (1Y)1.06
Revenue Growth-4.42%
EPS Growth603.17%
CountryUS
Employees886
SectorTechnology
Sector Strength88
IndustrySoftware - Application
Share Statistics
EPS (TTM)-0.04
Shares Outstanding21,212,755
10 Day Avg. Volume237,515
30 Day Avg. Volume314,763
Financial Highlights & Ratios
PEG Ratio-1.89
Price to Book (P/B)2.24
Price to Sales (P/S)1.88
P/FCF Ratio8.60
Enterprise Value/Market Cap0.96
Enterprise Value/Revenue2.17
Enterprise Value/Gross Profit2.74
Enterprise Value/Ebitda44.34
Forecast
1Y Price Target
$31.00Price Target Upside-2.79% Downside
Rating ConsensusHold
Number of Analyst Covering3
EPS Forecast (FY)-0.42
Revenue Forecast (FY)$325.53M
Ibotta, Inc. Class A Business Overview & Revenue Model
Company Description
Ibotta, Inc. operates as a technology company that offers Ibotta Performance Network (IPN) that allows consumer packaged goods brands to deliver digital promotions to consumers. It offers promotional services to publishers, retailers, and advertis...
How the Company Makes Money
Ibotta primarily makes money by providing performance marketing services to consumer brands and retailers, earning revenue when its technology drives measurable consumer actions tied to offers and promotions. A core revenue stream is fees paid by ...
Ibotta, Inc. Class A Earnings Call Summary
Earnings Call Date:Feb 25, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 28, 2026
Earnings Call Sentiment Neutral
The call delivered a mix of encouraging operational progress and clear near-term challenges. Management reported Q4 results that beat guidance, positive adjusted EBITDA and strong redeemer growth, and highlighted tangible product and go-to-market improvements (notably LiveLift momentum and third-party publisher expansion). However, these positives sit alongside meaningful YoY revenue decline (-10%), continued weakness in direct-to-consumer and ad revenue, compressed gross margins (down ~570 bps) and planned investments that will weigh on 2026 margins. Management articulated a credible path to an inflection to revenue growth later in 2026, but the company still faces executional and market-dependent headwinds in the near term.Positive Updates
Beat Guidance on Revenue and Adjusted EBITDA
Q4 revenue of $88.5M and adjusted EBITDA of $13.7M came in 7% and 31% above the midpoint of the guidance range provided on the prior call, demonstrating better-than-expected execution.
Negative Updates
Year-Over-Year Revenue Decline
Q4 revenue declined 10% YoY to $88.5M, indicating ongoing top-line pressure despite operational improvements.
Read all updates
Q4-2025 Updates
Positive
Negative
Beat Guidance on Revenue and Adjusted EBITDA
Q4 revenue of $88.5M and adjusted EBITDA of $13.7M came in 7% and 31% above the midpoint of the guidance range provided on the prior call, demonstrating better-than-expected execution.
Read all positive updates
Company Guidance
Ibotta guided Q1 2026 revenue of $78.0M–$82.0M (≈‑5% YoY at the midpoint) and adjusted EBITDA of $6M–$8M (≈9% margin at the midpoint), and said it expects low single‑digit sequential revenue growth in Q2 vs Q1 and slight YoY revenue growth in Q3, with improvement concentrated in redemption revenue while ad & other remans pressured (data expected to grow). Management flagged modest sequential increases in non‑GAAP cost of revenue and operating expenses across 2026, materially less publisher‑cost growth than in 2025, higher technology costs (net ~‑100bps headwind to gross margin), and the near‑term purchase of third‑party lift studies that could approximate ~1% of revenue. They also forecast stock‑based compensation to be roughly $10M higher than 2025, expect free cash flow of ~65% of adjusted EBITDA, and reiterated a strong liquidity position (ended 2025 with $186.6M cash, no debt), recent Q4 buybacks of ~$55M for ~2.1M shares at $25.78 with $34.9M remaining authorization, and 26.1M fully diluted shares. (For context Q4 results: revenue $88.5M, redemption revenue $78.5M, third‑party publisher redemption revenue $56.4M, DTC redemption revenue $22.2M, total redeemers 20.4M, redemptions/redeemer 4.6, redemption revenue/redemption $0.83, non‑GAAP gross margin 79%, adj EBITDA $13.7M / 15% margin.)Ibotta, Inc. Class A Financial Statement Overview
Summary
Income Statement
54
Neutral
Balance Sheet
63
Positive
Cash Flow
78
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 |
|---|---|---|---|---|
Income Statement | ||||
| Total Revenue | 342.39M | 367.25M | 320.04M | 210.70M |
| Gross Profit | 267.42M | 317.13M | 272.38M | 161.48M |
| EBITDA | 9.97M | 32.58M | 62.66M | -33.99M |
| Net Income | 3.58M | 68.74M | 38.12M | -54.86M |
Balance Sheet | ||||
| Total Assets | 525.91M | 678.43M | 319.79M | 195.08M |
| Cash, Cash Equivalents and Short-Term Investments | 186.61M | 349.28M | 62.59M | 45.50M |
| Total Debt | 25.50M | 0.00 | 64.45M | 61.05M |
| Total Liabilities | 238.26M | 221.15M | 291.86M | 229.87M |
| Stockholders Equity | 287.65M | 457.28M | 27.93M | -34.79M |
Cash Flow | ||||
| Free Cash Flow | 74.98M | 105.72M | 14.49M | -64.76M |
| Operating Cash Flow | 95.27M | 115.92M | 22.72M | -56.50M |
| Investing Cash Flow | -34.30M | -10.20M | 19.67M | -35.68M |
| Financing Cash Flow | -224.05M | 181.38M | 2.38M | 74.05M |
Ibotta, Inc. Class A Technical Analysis
Positive
31.89
Price Trends
24.78
Positive
23.79
Positive
27.66
Positive
Market Momentum
2.08
Negative
68.94
Neutral
62.84
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IBTA, the sentiment is Positive. The current price of 31.89 is above the 20-day moving average (MA) of 28.96, above the 50-day MA of 24.78, and above the 200-day MA of 27.66, indicating a bullish trend. The MACD of 2.08 indicates Negative momentum. The RSI at 68.94 is Neutral, neither overbought nor oversold. The STOCH value of 62.84 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IBTA.
Ibotta, Inc. Class A Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | $601.85M | 8.21 | 19.72% | ― | 22.97% | 49.49% | |
70 Outperform | $698.02M | 10.53 | 73.23% | ― | 9.63% | -112.71% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
59 Neutral | $776.53M | 180.36 | 1.04% | ― | -4.42% | 603.17% | |
59 Neutral | $297.61M | -15.25 | -22.88% | ― | 13.09% | 32.34% | |
57 Neutral | $441.37M | -0.53 | -106.91% | ― | -7.43% | 61.36% | |
54 Neutral | $271.04M | -6.33 | -25.34% | ― | -24.30% | -181.62% |
* Technology Sector Average
IBTA
Ibotta, Inc. Class A
31.89
-14.22
-30.84%
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Ibotta, Inc. Class A Corporate Events
Business Operations and StrategyStock Buyback
Ibotta Expands Share Repurchase Authorization to $400 Million
Positive
Mar 12, 2026
Ibotta, Inc. Class A launched a share repurchase program in August 2024 authorizing the buyback of up to $300 million of its Class A common stock, and on March 11, 2026, the board increased this authorization by an additional $100 million. The ope...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.