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Friday 6 November 2026
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Ibotta, Inc.
IBTA Technology Software Application
Ibotta, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $342.4 million, down 6.77% from fiscal 2024.
- Revenue
- +17.5%
- EPS
- −400.0%
- Free cash flow
- +58.4%
Quarter to September 2026, against a year earlier
58.36
0.51
+0.88%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Sep ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | — | — | — | — | — | — | 211 | 320 | 367 | 342 | 358 | +17.6% | 353 | 385 | 422 | +7.2% | |
| Gross margin, % | — | — | — | — | — | — | 78.08 | 86.25 | 86.35 | 79.25 | 78.41 | +1.2 pt | ||||||
| EBT | — | — | — | — | — | — | (55) | 44 | 24 | 10 | (4) | n/m | ||||||
| EBT margin, % | — | — | — | — | — | — | (25.91) | 13.76 | 6.67 | 2.88 | (0.99) | +28.8 pt | ||||||
| Net income | — | — | — | — | — | — | (55) | 38 | 69 | 4 | (16) | n/m | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | — | — | — | — | — | — | 24.30 | 35.76 | 15.22 | 12.07 | 15.32 | (20.8%) | |||||
| Earnings | — | — | — | — | — | — | (6.33) | 4.26 | 2.85 | 0.13 | (0.67) | n/m | ||||||
| Cash flow | — | — | — | — | — | — | (6.52) | 2.54 | 4.80 | 3.36 | 4.00 | n/m | ||||||
| Capex | — | — | — | — | — | — | (0.95) | (0.92) | (0.42) | (1.21) | (1.23) | +8.3% | ||||||
| Free cash flow | — | — | — | — | — | — | (7.47) | 1.62 | 4.38 | 2.15 | 2.77 | n/m | ||||||
| Book value | — | — | — | — | — | — | (4.01) | 3.12 | 18.95 | 10.14 | 10.21 | n/m | ||||||
| Shares, m | — | — | — | — | — | — | 9 | 9 | 24 | 28 | 25 | +48.4% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | — | — | — | — | — | — | 17.97 | 17.97 | 23.93 | 189.42 | 0.00 | 62.3 | |||||
| P/S | — | — | — | — | — | — | 2.79 | 2.79 | 5.44 | 1.88 | 3.79 | 3.2 | ||||||
| P/B | — | — | — | — | — | — | 21.80 | 21.80 | 4.37 | 2.24 | 5.70 | 12.6 | ||||||
| EV/Sales | — | — | — | — | — | — | 2.83 | 2.83 | 4.74 | 1.61 | 3.63 | 3.0 | ||||||
| EV/FCF | — | — | — | — | — | — | 32.80 | 32.80 | 16.48 | 9.03 | 20.07 | 22.8 | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | — | — | — | — | — | — | (56) | 23 | 116 | 95 | 93 | n/m | |||||
| Capex | — | — | — | — | — | — | (8) | (8) | (10) | (34) | (29) | +60.7% | ||||||
| Free cash flow | — | — | — | — | — | — | (65) | 14 | 106 | 61 | 65 | n/m | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | — | — | — | — | — | — | 31 | 100 | 378 | 200 | 152 | +87.1% | |||||
| Net debt | — | — | — | — | — | — | 36 | 27 | (350) | (187) | (150) | n/m | ||||||
| Shareholders’ equity | — | — | — | — | — | — | (35) | 28 | 457 | 288 | 238 | n/m | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | — | — | — | — | — | — | 0.00 | 14.81 | 13.77 | 0.59 | (3.02) | +0.6 pt | |||||
| ROIC | — | — | — | — | — | — | (2,173.91) | 63.42 | 16.22 | (0.52) | (6.81) | +2,173.4 pt | ||||||
| ROE | — | — | — | — | — | — | 0.00 | (1,110.31) | 28.33 | 0.96 | (5.65) | +1.0 pt | ||||||
| People | ||||||||||||||||||
| People | Employees | — | — | — | — | — | — | — | 815 | 886 | 800 | — | (0.9%) | |||||
| Revenue/emp, $m | — | — | — | — | — | — | 0.00 | 0.39 | 0.41 | 0.43 | — | n/m | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026
Ibotta, Inc. vs peers in Software Application (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| CXM Sprinklr, Inc. | $1.6B | 68.2× | 57.4× | +0.80% (above 0%: growing) | −40.00% (below 0%: shrinking) | −55.52% (below 0%: shrinking) | 65.12% | 4.66% | Compare |
| EVCM EverCommerce Inc. | $1.5B | 46.1× | 39.3× | +2.70% (above 0%: growing) | +25.00% (above 0%: growing) | +3.41% (above 0%: growing) | 78.61% | 11.49% | Compare |
| UPBD Upbound Group, Inc. | $1.5B | 12.9× | 7.9× | −1.59% (below 0%: shrinking) | +156.52% (above 0%: growing) | +112.11% (above 0%: growing) | 50.62% | 6.21% | Compare |
| ALKT Alkami Technology, Inc. | $1.4B | — (loss-making) | — (loss-making) | +19.44% (above 0%: growing) | n/m | −29.65% (below 0%: shrinking) | 57.50% | (4.63%) | Compare |
| LSPD Lightspeed Commerce Inc. | $1.4B | — (loss-making) | — (loss-making) | +5.82% (above 0%: growing) | n/m | −23,170.13% (below 0%: shrinking) | 42.94% | (1.72%) | Compare |
| IBTA Ibotta, Inc. | $1.4B | — (loss-making) | — (loss-making) | +17.49% (above 0%: growing) | n/m | +58.39% (above 0%: growing) | 79.85% | 4.83% | |
| PD PagerDuty | $1.3B | 7.9× | 35.3× | +0.83% (above 0%: growing) | −45.45% (below 0%: shrinking) | +8.53% (above 0%: growing) | 83.90% | 8.23% | Compare |
| WRD WeRide Inc. | $1.3B | — (loss-making) | — (loss-making) | +92.37% (above 0%: growing) | n/m | −92.28% (below 0%: shrinking) | 37.49% | (182.09%) | Compare |
| SECZ Securitize Corp. | $1.2B | 217× | — | — | n/m | +100.00% (above 0%: growing) | — | 0.00% | Compare |
| Median of peers | $1.4B | 46.1× | 37.3× | +2.70% | −7.50% | −13.12% | 57.50% | 2.33% |
Pay and ownership Proxy statement filed 7 April 2026
Chief executive’s pay
| Year | Total pay | Actually paid | $100 invested |
|---|---|---|---|
| 2025 | 10.95m | (14.95m) | 22.01 |
| 2024 | 28.71m | 52.98m | 63.03 |
Ownership
Directors and executive officers, together
57.10% of the votes
Bryan Leach
55.50% of the votes
KDT Ibotta Holdings, LLC
5.30% of the votes
Clark Jermoluk Founders Fund I LLC
4.70% of the votes
Walmart Inc.
4.10% of the votes
Entities affiliated with D. E. Shaw
2.10% of the votes
The Vanguard Group
1.40% of the votes
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards
at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s
shares at the start of the earliest year shown was worth at each year’s end.
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more.
Read the proxy statement