Ibotta Stock Price, News & Analysis

Ibotta (NYSE: IBTA) has appointed Chris Riedy as its new Chief Revenue Officer, effective January 13, 2025. Riedy, who will report to CEO Bryan Leach, brings over 25 years of experience in sales, business development, product, and marketing. He previously served as CRO at tvScientific and held various leadership positions at X (formerly Twitter), including Vice President of Global Sales and Marketing.

In his role as CRO, Riedy will oversee all revenue-generating activities, lead Ibotta's Sales team, and strengthen relationships with brand partners. His appointment aims to support Ibotta's mission to Make Every Purchase Rewarding and drive sustainable revenue growth as the company continues its journey as a public company.

Ibotta (NYSE: IBTA), North America's largest digital promotions network, has announced its participation in two upcoming investor conferences. CEO Bryan Leach will present at the UBS Global Technology and AI Conference on December 3, 2024, at 10:35 a.m. PT/1:35 p.m. ET. Additionally, CFO Sunit Patel will speak at the Raymond James 2024 TMT & Consumer Conference on December 11, 2024, at 7 a.m. PT/10 a.m. ET. Audio webcasts for both events will be accessible through the investor relations section of Ibotta's website.

Ibotta (NYSE: IBTA) reported strong Q3 2024 financial results with revenue growing 16% year-over-year to $98.6 million. The company achieved net income of $17.2 million and Adjusted EBITDA of $36.5 million, representing a 37% margin. Total redemptions increased 43% to 97.4 million, while redeemers grew 63% to 15.3 million. The growth was primarily driven by Walmart program expansion.

The company generated $39.5 million in operating cash flow and $36.7 million in free cash flow. For Q4 2024, Ibotta expects revenue of $100-106 million and Adjusted EBITDA of $30-34 million.

Ibotta (NYSE: IBTA) announces enhanced benefits for SNAP-eligible consumers, reaching over 40 million people in the US. The company launches SNAP Rewards, offering exclusive monthly deals including 100% cash back on Thanksgiving meal ingredients. Through 'Thanksgiving Your Way', users can customize their rewards bundle, valued between $25-$27 in cash back. The initiative marks Ibotta's fifth annual Free Thanksgiving program, which has previously helped feed over 11 million Americans. Additionally, Ibotta partners with Feeding America to provide up to 1 million meals through a November campaign where each user's first redemption contributes one meal to the cause.

Ibotta (NYSE: IBTA), a leading technology company in digital promotions and performance marketing solutions, has announced it will report its third quarter 2024 financial results on Wednesday, November 13, 2024, after market close. The company will host a conference call and webcast at 2:30 p.m. MT/4:30 p.m. ET to discuss the financial results, recent developments, and business outlook.

Interested parties can access the live call via phone (US/Canada: 877-405-1211; International: +1 215-268-9896) or through the webcast available at ir.ibotta.com. This announcement provides investors and analysts with the opportunity to gain insights into Ibotta's performance and future prospects directly from the management team.

Ibotta's second annual State of Spend report reveals significant shifts in consumer behavior and CPG marketing strategies amidst economic pressures. 72% of shoppers report the economy directly impacting their grocery habits, with many opting for lower-priced alternatives. Key findings include:

1. Consumers spent an additional $302 on food and beverage essentials over the past year, cutting back on discretionary categories.

2. 75% of shoppers would try a different brand if offered at a lower price.

3. 70% of CPG marketers view private labels as the biggest threat to their brands.

4. Digital promotions are seeing increased investment, up 26% from 2023.

5. 67% of CPG marketers prioritize new customer acquisition over retention.

The report underscores the growing importance of digital promotions in building brand loyalty and value for cost-conscious consumers.

Ibotta (NYSE: IBTA), a leading technology company in digital promotions and performance marketing, has announced its participation in two upcoming investor conferences. CEO Bryan Leach and CFO Sunit Patel will engage in a fireside chat at the Citi 2024 Global TMT Conference on September 4, 2024, at 12:50 p.m. PT. Additionally, CEO Bryan Leach will participate in another fireside chat at the Goldman Sachs Communacopia + Technology Conference on September 11, 2024, at 3:05 p.m. PT.

Both events will be accessible via audio webcasts on the investor relations section of Ibotta's website at http://investors.ibotta.com. These conferences provide an opportunity for Ibotta to showcase its position in the digital promotions and performance marketing industry to potential investors.

Ibotta (NYSE: IBTA), a leading digital promotions and performance marketing solutions provider, has announced a $100 million share repurchase program. The program, approved by the company's Board of Directors, allows for the repurchase of Ibotta's Class A common stock with no expiration date. Repurchases may be made through open market transactions or privately negotiated deals, subject to market conditions and legal requirements. The company may also enter into Rule 10b5-1 plans to facilitate repurchases. Ibotta is not obligated to acquire any specific amount of shares and can suspend or terminate the program at any time. The timing and number of shares repurchased will depend on factors such as price, market conditions, and alternative investment opportunities.

Ibotta's Ibotta Performance Network (IPN) has won the 'Performance Marketing Innovation Award' in the 7th annual MarTech Breakthrough Awards. The IPN, launched in 2022, is the first digital network delivering coordinated promotions across retailer platforms, third-party publisher sites, and Ibotta's direct-to-consumer properties. It allows marketers to influence consumer behavior while only paying for successful sales.

Key highlights:

• IPN reaches 98% of households through partnerships with major retailers like Walmart, Family Dollar, Dollar General, and Instacart
• American shoppers have earned over $2 billion through the IPN since 2012
• Ibotta serves more than 2,400 brand partners
• The network utilizes AI-driven optimization for targeted promotions