Ibotta Financials
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores
Ibotta has an operating margin of 7.6%, meaning the company retains $8 of operating profit per $100 of revenue. This results in a moderate score of 38/100, indicating healthy but not exceptional operating efficiency. This is down from 17.5% the prior year.
Ibotta's revenue grew 14.8% year-over-year to $367.3M, a solid pace of expansion. This earns a growth score of 71/100.
Ibotta carries a low D/E ratio of 0.00, meaning only $0.00 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.
With a current ratio of 2.85, Ibotta holds $2.85 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 94/100.
Ibotta converts 31.3% of revenue into free cash flow ($115.0M). This strong cash generation earns a score of 100/100.
Ibotta's ROE of 15.0% shows moderate profitability relative to equity, earning a score of 60/100. This is down from 136.5% the prior year.
Ibotta scores 2.60, placing it in the grey zone between 1.81 and 2.99. The score is driven primarily by a large market capitalization ($569.9M) relative to total liabilities ($221.1M). This signals moderate financial risk that warrants monitoring.
Ibotta passes 6 of 9 financial strength tests. 3 of 4 profitability signals pass, all 2 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
For every $1 of reported earnings, Ibotta generates $1.69 in operating cash flow ($115.9M OCF vs $68.7M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.
Ibotta earns $7.8 in operating income for every $1 of interest expense ($27.9M vs $3.6M). This wide margin provides strong safety for debt servicing, even if earnings decline temporarily.
This page shows Ibotta (IBTA) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 3 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Key Financial Metrics
Ibotta generated $367.3M in revenue in fiscal year 2024. This represents an increase of 14.8% from the prior year.
Ibotta's EBITDA was $36.0M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 42.5% from the prior year.
Ibotta generated $115.0M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 419.0% from the prior year.
Ibotta reported $68.7M in net income in fiscal year 2024. This represents an increase of 80.3% from the prior year.
Ibotta earned $2.56 per diluted share (EPS) in fiscal year 2024. This represents an increase of 80.3% from the prior year.
Ibotta held $349.3M in cash against $0 in long-term debt as of fiscal year 2024.
Ibotta had 0 shares outstanding in fiscal year 2024. This represents a decrease of 100.0% from the prior year.
Ibotta's gross margin was 86.4% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 0.1 percentage points from the prior year.
Ibotta's operating margin was 7.6% in fiscal year 2024, reflecting core business profitability. This is down 9.9 percentage points from the prior year.
Ibotta's net profit margin was 18.7% in fiscal year 2024, showing the share of revenue converted to profit. This is up 6.8 percentage points from the prior year.
Ibotta's ROE was 15.0% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is down 121.5 percentage points from the prior year.
Ibotta invested $63.3M in research and development in fiscal year 2024. This represents an increase of 26.6% from the prior year.
Ibotta spent $31.3M on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding.
Ibotta invested $871K in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 58.9% from the prior year.
IBTA Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $83.3M-3.2% | $86.0M+1.7% | $84.6M-14.0% | $98.4M+11.9% | $87.9M+6.8% | $82.3M-17.4% | $99.7M+16.9% | $85.3M |
| Cost of Revenue | $17.1M-4.4% | $17.9M+4.9% | $17.1M+12.8% | $15.2M+23.3% | $12.3M+16.8% | $10.5M-14.7% | $12.3M+14.3% | $10.8M |
| Gross Profit | $66.1M-2.9% | $68.1M+0.9% | $67.5M-18.9% | $83.2M+10.0% | $75.6M+5.3% | $71.8M-17.8% | $87.4M+17.2% | $74.5M |
| R&D Expenses | $14.0M-4.9% | $14.7M-18.4% | $18.1M+14.2% | $15.8M-9.7% | $17.5M+28.5% | $13.6M-0.4% | $13.7M+10.5% | $12.4M |
| SG&A Expenses | $22.5M+0.9% | $22.3M+4.1% | $21.4M+5.6% | $20.2M-29.5% | $28.7M+118.2% | $13.2M-2.2% | $13.5M+11.1% | $12.1M |
| Operating Income | $2.4M+91.1% | $1.2M+144.2% | -$2.8M-121.6% | $13.0M+159.9% | -$21.7M-236.2% | $15.9M-39.4% | $26.3M+141.6% | $10.9M |
| Interest Expense | N/A | N/A | N/A | $61K-91.3% | $700K-75.0% | $2.8M-0.6% | $2.8M+40.8% | $2.0M |
| Income Tax | $3.7M+169.9% | $1.4M+2013.9% | -$72K+99.9% | -$59.2M-1603.0% | $3.9M+27.0% | $3.1M-15.9% | $3.7M+704.6% | -$610K |
| Net Income | $1.5M-38.4% | $2.5M+348.6% | $555K-99.3% | $76.2M+324.3% | -$34.0M-465.3% | $9.3M-50.1% | $18.6M+121.6% | $8.4M |
| EPS (Diluted) | $0.05-37.5% | $0.08+300.0% | $0.02-99.3% | $3.04+330.3% | $-1.32-500.0% | $0.33-67.6% | $1.02+229.0% | $0.31 |
IBTA Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $569.4M-5.2% | $600.8M-6.0% | $639.3M-5.8% | $678.4M+22.0% | $556.0M+72.7% | $322.1M+0.7% | $319.8M | N/A |
| Current Assets | $455.5M-5.6% | $482.6M-8.6% | $528.0M-9.2% | $581.7M+8.9% | $534.2M+78.0% | $300.1M+0.6% | $298.3M | N/A |
| Cash & Equivalents | $223.3M-10.9% | $250.5M-15.7% | $297.1M-14.9% | $349.3M+9.9% | $317.9M+299.8% | $79.5M+27.0% | $62.6M+57.8% | $39.7M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $212.8M+1.8% | $209.0M+1.4% | $206.2M-6.7% | $220.9M+5.7% | $209.0M+1.3% | $206.4M-8.8% | $226.4M | N/A |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $239.8M-2.8% | $246.7M+3.6% | $238.0M+7.6% | $221.1M+12.6% | $196.3M-29.4% | $278.0M-4.8% | $291.9M | N/A |
| Current Liabilities | $206.5M+1.2% | $204.0M+3.8% | $196.5M-3.8% | $204.2M+7.4% | $190.2M+4.7% | $181.7M-8.3% | $198.2M | N/A |
| Long-Term Debt | N/A | N/A | N/A | $0 | $0-100.0% | $65.3M+1.3% | $64.4M | N/A |
| Total Equity | $329.6M-6.9% | $354.1M-11.7% | $401.3M-12.2% | $457.3M+27.1% | $359.7M+715.7% | $44.1M+57.9% | $27.9M+2093.9% | $1.3M |
| Retained Earnings | -$135.9M+1.1% | -$137.4M+1.8% | -$139.9M+0.4% | -$140.4M+39.9% | -$233.9M-17.0% | -$199.9M+4.4% | -$209.2M | N/A |
IBTA Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $21.8M-15.9% | $25.9M+30.2% | $19.9M-9.7% | $22.0M-37.2% | $35.0M+80.8% | $19.4M-18.2% | $23.7M+1269.9% | -$2.0M |
| Capital Expenditures | $7.2M+99.9% | $3.6M+91.4% | $1.9M+776.9% | $216K+7.5% | $201K+32.2% | $152K-13.6% | $176K+3.5% | $170K |
| Free Cash Flow | $14.5M-34.7% | $22.2M+23.7% | $18.0M-17.5% | $21.8M-37.5% | $34.8M+81.2% | $19.2M-18.2% | $23.5M+1171.2% | -$2.2M |
| Investing Cash Flow | -$11.2M-59.4% | -$7.0M-40.9% | -$5.0M-95.2% | -$2.5M-9.6% | -$2.3M+5.9% | -$2.5M-24.3% | -$2.0M+20.0% | -$2.5M |
| Financing Cash Flow | -$37.8M+42.5% | -$65.8M+1.9% | -$67.0M-508.1% | -$11.0M-105.4% | $205.7M+2285022.2% | $9K-99.3% | $1.2M+157.8% | $479K |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $38.0M-46.0% | $70.4M+0.9% | $69.8M+344.2% | $15.7M | $0 | $0 | $0 | N/A |
IBTA Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 79.4%+0.3pp | 79.2%-0.6pp | 79.8%-4.8pp | 84.6%-1.4pp | 86.0%-1.2pp | 87.2%-0.4pp | 87.6%+0.3pp | 87.4% |
| Operating Margin | 2.8%+1.4pp | 1.4%+4.8pp | -3.3%-16.5pp | 13.2%+37.8pp | -24.6%-44.0pp | 19.3%-7.0pp | 26.3%+13.6pp | 12.8% |
| Net Margin | 1.8%-1.0pp | 2.9%+2.2pp | 0.7%-76.8pp | 77.4%+116.1pp | -38.6%-49.9pp | 11.3%-7.4pp | 18.7%+8.8pp | 9.9% |
| Return on Equity | 0.5%-0.2pp | 0.7%+0.6pp | 0.1%-16.5pp | 16.7% | N/A | 21.1%-45.7pp | 66.8%-594.1pp | 660.9% |
| Return on Assets | 0.3%-0.1pp | 0.4%+0.3pp | 0.1%-11.1pp | 11.2%+17.3pp | -6.1%-9.0pp | 2.9%-2.9pp | 5.8% | N/A |
| Current Ratio | 2.21-0.2 | 2.37-0.3 | 2.69-0.2 | 2.85+0.0 | 2.81+1.2 | 1.65+0.1 | 1.51 | N/A |
| Debt-to-Equity | 0.73+0.0 | 0.70+0.1 | 0.59+0.6 | 0.000.0 | 0.00-1.5 | 1.48-0.8 | 2.31 | N/A |
| FCF Margin | 17.4%-8.4pp | 25.8%+4.6pp | 21.2%-0.9pp | 22.1%-17.5pp | 39.6%+16.3pp | 23.3%-0.2pp | 23.6%+26.1pp | -2.6% |
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Frequently Asked Questions
What is Ibotta's annual revenue?
Ibotta (IBTA) reported $367.3M in total revenue for fiscal year 2024. This represents a 14.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Ibotta's revenue growing?
Ibotta (IBTA) revenue grew by 14.8% year-over-year, from $320.0M to $367.3M in fiscal year 2024.
Is Ibotta profitable?
Yes, Ibotta (IBTA) reported a net income of $68.7M in fiscal year 2024, with a net profit margin of 18.7%.
What is Ibotta's earnings per share (EPS)?
Ibotta (IBTA) reported diluted earnings per share of $2.56 for fiscal year 2024. This represents a 80.3% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Ibotta's EBITDA?
Ibotta (IBTA) had EBITDA of $36.0M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Ibotta have?
As of fiscal year 2024, Ibotta (IBTA) had $349.3M in cash and equivalents against $0 in long-term debt.
What is Ibotta's gross margin?
Ibotta (IBTA) had a gross margin of 86.4% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
What is Ibotta's operating margin?
Ibotta (IBTA) had an operating margin of 7.6% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Ibotta's net profit margin?
Ibotta (IBTA) had a net profit margin of 18.7% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is Ibotta's return on equity (ROE)?
Ibotta (IBTA) has a return on equity of 15.0% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is Ibotta's free cash flow?
Ibotta (IBTA) generated $115.0M in free cash flow during fiscal year 2024. This represents a 419.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Ibotta's operating cash flow?
Ibotta (IBTA) generated $115.9M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Ibotta's total assets?
Ibotta (IBTA) had $678.4M in total assets as of fiscal year 2024, including both current and long-term assets.
What are Ibotta's capital expenditures?
Ibotta (IBTA) invested $871K in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How much does Ibotta spend on research and development?
Ibotta (IBTA) invested $63.3M in research and development during fiscal year 2024.
Does Ibotta buy back shares?
Yes, Ibotta (IBTA) spent $31.3M on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.
How many shares does Ibotta have outstanding?
Ibotta (IBTA) had 0 shares outstanding as of fiscal year 2024.
What is Ibotta's current ratio?
Ibotta (IBTA) had a current ratio of 2.85 as of fiscal year 2024, which is generally considered healthy.
What is Ibotta's debt-to-equity ratio?
Ibotta (IBTA) had a debt-to-equity ratio of 0.00 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Ibotta's return on assets (ROA)?
Ibotta (IBTA) had a return on assets of 10.1% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Ibotta's Altman Z-Score?
Ibotta (IBTA) has an Altman Z-Score of 2.60, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios—working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets—to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Ibotta's Piotroski F-Score?
Ibotta (IBTA) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Ibotta's earnings high quality?
Ibotta (IBTA) has an earnings quality ratio of 1.69x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Ibotta cover its interest payments?
Ibotta (IBTA) has an interest coverage ratio of 7.8x, meaning it can comfortably cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Ibotta?
Ibotta (IBTA) scores 77 out of 100 on our Financial Profile, indicating strong overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.