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:
$38.00
▲(7.80% Upside)
Action:Reiterated
Date:05/23/26
IBTA scores moderately due to strong cash generation, high gross margins, and a relatively sound current balance sheet, partially offset by steep recent revenue declines and weaker profitability. Technicals are neutral-to-weak near term, and valuation is less supportive given the negative P/E; the latest earnings call adds some optimism via guidance toward a return to growth but acknowledges ongoing margin and mix pressures.
Positive Factors
Strong free cash flow generation
Consistent positive free cash flow and a sizable cash balance give Ibotta durable financial flexibility to fund product investment, weather cyclical ad spending swings, repurchase shares, and support scaling of enterprise offerings without immediate reliance on external financing.
Negative Factors
Steep historical revenue decline (TTM)
A ~61% TTM revenue decline is a material structural challenge: it reduces operating leverage, stresses customer retention economics, and forces the company to rebuild top‑line momentum; persistent revenue weakness would impede margin recovery and long‑term profitability.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong free cash flow generation
Consistent positive free cash flow and a sizable cash balance give Ibotta durable financial flexibility to fund product investment, weather cyclical ad spending swings, repurchase shares, and support scaling of enterprise offerings without immediate reliance on external financing.
Read all positive factors
Ibotta, Inc. Class A (IBTA) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$748.27M
Dividend YieldN/A
Average Volume (3M)204.45K
Price to Earnings (P/E)―
Beta (1Y)1.12
Revenue Growth-7.90%
EPS Growth-116.58%
CountryUS
Employees886
SectorTechnology
Sector Strength88
IndustrySoftware - Application
Share Statistics
EPS (TTM)-0.32
Shares Outstanding20,768,166
10 Day Avg. Volume186,869
30 Day Avg. Volume204,453
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 Cap1.04
Enterprise Value/Revenue2.28
Enterprise Value/Gross Profit2.92
Enterprise Value/Ebitda101.51
Forecast
1Y Price Target
$42.50Price Target Upside20.57% Upside
Rating ConsensusHold
Number of Analyst Covering3
EPS Forecast (FY)-0.84
Revenue Forecast (FY)$345.15M
Ibotta, Inc. Class A Business Overview & Revenue Model
Company Description
Ibotta, Inc. operates as a technology firm specializing in digital promotions. Its core offering, the Ibotta Performance Network (IPN), enables consumer packaged goods (CPG) brands to distribute digital offers directly to consumers. Through this I...
How the Company Makes Money
Ibotta primarily makes money by providing performance-based digital promotions and rewards infrastructure that connects brands and retailers to consumers and pays only when specified outcomes occur. Its key revenue streams include: (1) Brand-funde...
Ibotta, Inc. Class A Earnings Call Summary
Earnings Call Date:May 06, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 19, 2026
Earnings Call Sentiment Positive
The call showed clear operational momentum: strong redeemer and redemption growth driven by third-party publishers, successful strategic publisher additions, early validation of LiveLift, a robust free cash flow increase and a beat versus prior guidance. However, important near-term challenges remain including a 2% YoY revenue decline, a sharp 25% drop in direct-to-consumer redemption revenue, pressure on ad revenue, margin compression from higher technology costs and continued modest revenue contribution from LiveLift until further scaling and automation occur. Management provided conservative near-term guidance but reiterated a path to return to YoY revenue growth in Q3 and outlined concrete investment and product initiatives to drive future supply and automation.Positive Updates
Beat Prior Guidance
Revenue and adjusted EBITDA came in ahead of prior guidance (CFO: 3% and 25% above the midpoint of prior guidance); CEO noted results were above the top end of the guidance range.
Negative Updates
Overall Revenue Still Down Year-Over-Year
Reported revenue declined 2% YoY to $82.5M, indicating the company has not yet fully returned to sustained top-line growth despite sequential improvements.
Read all updates
Q1-2026 Updates
Positive
Negative
Beat Prior Guidance
Revenue and adjusted EBITDA came in ahead of prior guidance (CFO: 3% and 25% above the midpoint of prior guidance); CEO noted results were above the top end of the guidance range.
Read all positive updates
Company Guidance
Ibotta guided Q2 2026 revenue of $82.0–$86.0M (midpoint $84.0M, ~2% YoY decline and ~2% sequential increase vs Q1) and adjusted EBITDA of $9.0–$12.0M (midpoint ≈12.5% margin); at the revenue midpoint they expect redemption revenue to return to YoY growth for the first time since Q1 2025 and reaffirm a return to overall YoY revenue growth in Q3 2026 in the low single‑digit range. Management assumed the Uber and Giant Eagle publisher additions will have an immaterial Q2 impact and only a small benefit in H2 (with offer supply the near‑term governor), and they expect modest sequential increases in non‑GAAP cost of revenue and operating expenses through the year (Q1 non‑GAAP gross margin was 78%, non‑GAAP Opex ~71% of revenue), with substantially less publisher cost growth than in 2025 and higher technology costs (and allocations) driving cost‑of‑revenue increases; balance‑sheet and cash context included $164.6M cash, $23.3M Q1 free cash flow (up 56% YoY), $45M of Q1 buybacks (1.9M shares at $22.92) and $90.3M remaining repurchase authorization.Ibotta, Inc. Class A Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
67
Positive
Cash Flow
74
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 340.30M | 342.39M | 367.25M | 320.04M | 210.70M |
| Gross Profit | 265.33M | 267.42M | 317.13M | 272.38M | 161.48M |
| EBITDA | 7.64M | 18.17M | 32.58M | 57.60M | -42.97M |
| Net Income | -7.30M | 3.58M | 68.74M | 38.12M | -54.86M |
Balance Sheet | |||||
| Total Assets | 479.92M | 525.91M | 678.43M | 319.79M | 195.08M |
| Cash, Cash Equivalents and Short-Term Investments | 164.60M | 186.61M | 349.28M | 62.59M | 45.50M |
| Total Debt | 25.32M | 25.50M | 0.00 | 64.45M | 61.05M |
| Total Liabilities | 230.94M | 238.26M | 221.15M | 291.86M | 229.87M |
| Stockholders Equity | 248.98M | 287.65M | 457.28M | 27.93M | -34.79M |
Cash Flow | |||||
| Free Cash Flow | 77.03M | 74.98M | 105.72M | 14.49M | -64.76M |
| Operating Cash Flow | 105.79M | 95.27M | 115.92M | 22.72M | -56.50M |
| Investing Cash Flow | -36.40M | -34.30M | -10.20M | 19.67M | -35.68M |
| Financing Cash Flow | -202.33M | -224.05M | 181.38M | 2.38M | 74.05M |
Ibotta, Inc. Class A Technical Analysis
Neutral
35.25
Price Trends
33.71
Negative
28.72
Positive
27.56
Positive
Market Momentum
-0.36
Positive
42.62
Neutral
11.74
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IBTA, the sentiment is Neutral. The current price of 35.25 is above the 20-day moving average (MA) of 32.87, above the 50-day MA of 33.71, and above the 200-day MA of 27.56, indicating a neutral trend. The MACD of -0.36 indicates Positive momentum. The RSI at 42.62 is Neutral, neither overbought nor oversold. The STOCH value of 11.74 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IBTA.
Ibotta, Inc. Class A Risk Analysis
Ibotta, Inc. Class A disclosed 75 risk factors in its most recent earnings report. Ibotta, Inc. Class A reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 2 New Risks
Ibotta, Inc. Class A Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | $1.20B | 3.39 | 134.28% | ― | 12.95% | ― | |
69 Neutral | $727.43M | 76.51 | 16.65% | ― | 18.15% | 331.16% | |
66 Neutral | $438.46M | -11.33 | -19.29% | ― | 12.27% | 37.41% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
59 Neutral | $748.27M | -103.76 | -2.39% | ― | -7.90% | -116.58% | |
52 Neutral | $354.77M | -0.43 | -108.85% | ― | -11.42% | -20.07% | |
48 Neutral | $219.84M | -8.80 | -10.61% | ― | -9.70% | 61.30% |
* Technology Sector Average
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Ibotta, Inc. Class A Corporate Events
Executive/Board ChangesShareholder Meetings
Ibotta Shareholders Approve Directors, Pay, and Auditor
Positive
May 22, 2026
On May 19, 2026, Ibotta, Inc. Class A held its 2026 annual meeting of shareholders, with a quorum representing a majority of the company’s total voting power. Shareholders voted as a single class on all matters, including electing two Class ...
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.