Short answer
Ibotta, Inc. (IBTA) filed its Q3 2025 10-Q quarterly report on Nov 13, 2025 for the quarter ended Sep 30, 2025. Quarterly revenue was $83M (down 15.6% year over year) with net income of $2M.
Q3 2025 key financials · XBRL
- Revenue
- $83M
- −15.6% YoY · −3.2% QoQ
- Net income
- $2M
- −91.1% YoY · −38.4% QoQ
- Operating margin
- 2.8%
- Gross margin
- 79.4%
- EPS (diluted)
- $0.05
- −95.3% YoY · −37.5% QoQ
Source: XBRL data from the Ibotta, Inc. (IBTA) Q3 2025 10-Q on SEC EDGAR. USD.
Ibotta, Inc. Q3 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Revenue $83.3M, down 16% YoY from $98.6M, driven by lower redemption and ad revenue
- Gross margin 79% vs 88% YoY; net margin 2% vs 17%; Adjusted EBITDA margin 20% vs 37%
- Third-party publisher revenue $49.3M, down 4%; D2C revenue $34.0M, down 28%
- Total redemptions 82.8M vs 97.4M, while redeemers increased to 18.2M from 15.3M
- Offer quantity and quality headwinds; management monitoring macroeconomic conditions and expects late-2025 headquarters depreciation increase
Risk Factors
- Newly highlighted DoorDash integration risk, announced January 2025 and expanded to most customers during Q2 2025
- Most material update: insufficient CPG offer supply in 2025 reduced redemptions and redemptions per redeemer
- Compliance risk: prior material weaknesses in financial reporting controls could impair timely, accurate reporting
- Near-term operating risk: publisher dependence, including Walmart agreement termination with 270 days’ notice
- Financial risk: accumulated deficit of $135.9 million as of September 30, 2025 and anticipated higher operating expenses
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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