Core Insights - Instacart partners with Morrisons to introduce Caper Carts, AI-powered smart trolleys, in the UK, marking Instacart's first retail collaboration in the region [1][4] Group 1: Product Features - Caper Carts enhance the in-store shopping experience by allowing customers to scan items, track spending in real-time, and check out seamlessly [2] - The trolleys are equipped with interactive screens, built-in scales, and AI sensors to assist customers in scanning and weighing items directly [2] - Integration with the Morrisons More Card loyalty program provides additional savings and convenience for customers [3] Group 2: Strategic Importance - The introduction of Caper Carts represents a shift towards a hybrid shopping experience, combining online convenience with in-store discovery [4] - Morrisons aims to innovate the shopping experience by leveraging cutting-edge technology to enhance customer engagement and loyalty [4] - Caper Carts are part of Instacart's Connected Stores suite, which aims to bridge online and physical retail, enhancing customer experience and creating monetization opportunities for retailers [4] Group 3: Market Presence - Caper Carts are currently deployed in nearly 100 cities across 15 states in the US, indicating strong demand from both retailers and customers [4]

Core Insights - Instacart has partnered with Merchants Distributors, LLC (MDI) to provide e-commerce solutions to independent grocers within MDI's network, enabling them to offer same-day delivery and utilize Instacart's Storefront Pro [1][2][3] Company Overview - Instacart is a leading grocery technology company in North America, collaborating with over 1,800 retail banners to facilitate online shopping, delivery, and pickup services from nearly 100,000 stores [5] - Merchants Distributors, LLC, founded in 1931, is a privately-owned wholesale grocery distributor based in Hickory, NC, supplying over 600 retail food stores across multiple states and exporting to over 30 countries [6][7] Partnership Details - The partnership aims to enhance the shopping experience for customers by allowing independent grocers to adopt Instacart's platform, which includes advanced customization capabilities and access to data analytics tools [2][3] - Storefront Pro will provide MDI's independent retail partners with full-stack fulfillment technologies for pickup and delivery, as well as access to Instacart Carrot Ads for monetizing their digital and physical presence [2][3] Market Positioning - With the introduction of Storefront Pro, MDI's independent retailers will join over 600 retail banners already utilizing Instacart's white-label e-commerce solutions, positioning them to improve customer engagement and unlock new growth opportunities [3]

About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, ...

Group 1 - Shares of Maplebear Inc (NASDAQ:CART), operating as Instacart, have declined by 3.2% to $44.07 following a downgrade from Wedbush to "underperform" from "neutral," with a price target reduced to $42 from $55 due to increased competition from Amazon's grocery delivery expansion [1] - The stock has significantly decreased from its record high of $53.50 on August 8, although it is still up 6.6% since the beginning of the year [2] - The $43 level, which served as a support floor in June, remains below the current trading price [2] Group 2 - There is potential for short covering, as short interest, while unwinding, still represents 6.2% of the stock's available float [2] - Options activity indicates bearish sentiment, with put volume at ten times the intraday average, particularly focused on the weekly 8/22 44-strike put [3]

Company Overview - Instacart is the leading grocery technology company in North America, partnering with over 1,800 retail banners to facilitate online shopping, delivery, and pickup services from nearly 100,000 stores across the continent [4]. - The company enables approximately 600,000 Instacart shoppers to earn by picking, packing, and delivering orders on a flexible schedule [4]. - Instacart offers a suite of enterprise-grade technology products and services to retailers, enhancing their e-commerce experiences and providing advertising services [4]. Leadership Changes - Josh Silverman, CEO of Etsy, has joined Instacart's Board of Directors, bringing extensive experience in leading marketplace and technology companies [2][3]. - Silverman has a proven track record of scaling consumer platforms and is expected to contribute significantly to Instacart's growth and impact [2]. - The current Board of Directors includes notable figures such as Chris Rogers (CEO of Instacart), Fidji Simo (CEO of Applications at OpenAI), and other industry leaders [3]. Strategic Focus - Instacart aims to deepen its value across the grocery ecosystem, leveraging technology to transform how consumers shop for groceries [2]. - The company is committed to increasing nutrition security and making healthy choices easier for consumers through its Instacart Health initiative [4].

[Special Note Regarding Forward-Looking Statements](index=3&type=section&id=Special%20Note%20Regarding%20Forward-Looking%20Statements) This section identifies forward-looking statements, their nature, and associated risks and uncertainties, advising against undue reliance on them - This section identifies forward-looking statements, their nature, and associated risks and uncertainties, advising against undue reliance on them[11](index=11&type=chunk)[13](index=13&type=chunk)[15](index=15&type=chunk) [Part I - Financial Information](index=5&type=section&id=Part%20I%20FINANCIAL%20INFORMATION) [Item 1. Financial Statements (Unaudited)](index=5&type=section&id=Item%201.%20Financial%20Statements) This section presents the unaudited condensed consolidated financial statements for Maplebear Inc. (Instacart), including balance sheets, statements of operations, comprehensive income, redeemable convertible preferred stock and stockholders' equity, and cash flows, along with detailed notes on business description, significant accounting policies, revenue disaggregation, fair value measurements, investments, property and equipment, business combinations, goodwill and intangible assets, accrued liabilities, commitments and contingencies, redeemable convertible preferred stock, stockholders' equity, income taxes, net income per share, related party transactions, restructuring, and segment information [Condensed Consolidated Balance Sheets](index=5&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Condensed Consolidated Balance Sheets (in millions) | Metric | Dec 31, 2024 (in millions) | Jun 30, 2025 (in millions) | Change (in millions) | % Change | | :-------------------------------- | :------------------------- | :------------------------- | :------------------- | :--------- | | Total Assets | $4,115 | $4,433 | $318 | 7.7% | | Total Liabilities | $836 | $942 | $106 | 12.7% | | Total Stockholders' Equity | $3,093 | $3,299 | $206 | 6.7% | [Condensed Consolidated Statements of Operations](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Condensed Consolidated Statements of Operations (in millions, except EPS) | Metric | 3 Months Ended Jun 30, 2024 (in millions) | 3 Months Ended Jun 30, 2025 (in millions) | Change (in millions) | % Change | | :-------------------------------- | :---------------------------------------- | :---------------------------------------- | :------------------- | :--------- | | Revenue | $823 | $914 | $91 | 11.1% | | Gross Profit | $623 | $678 | $55 | 8.8% | | Income from Operations | $52 | $124 | $72 | 138.5% | | Net Income | $61 | $116 | $55 | 90.2% | | Basic EPS | $0.22 | $0.43 | $0.21 | 95.5% | | Diluted EPS | $0.20 | $0.41 | $0.21 | 105.0% | [Condensed Consolidated Statements of Comprehensive Income](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Comprehensive%20Income) Condensed Consolidated Statements of Comprehensive Income (in millions) | Metric | 3 Months Ended Jun 30, 2024 (in millions) | 3 Months Ended Jun 30, 2025 (in millions) | Change (in millions) | | :-------------------------------- | :---------------------------------------- | :---------------------------------------- | :------------------- | | Net Income | $61 | $116 | $55 | | Change in foreign currency translation adjustments | $0 | $7 | $7 | | Total other comprehensive income (loss) | $0 | $7 | $7 | | Comprehensive income | $61 | $124 | $63 | [Condensed Consolidated Statements of Redeemable Convertible Preferred Stock and Stockholders' Equity](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Redeemable%20Convertible%20Preferred%20Stock%20and%20Stockholders'%20Equity) - Total stockholders' equity increased from **$3,093 million** as of December 31, 2024, to **$3,299 million** as of June 30, 2025. Key changes include net income of **$106 million** (Q1 2025) and **$116 million** (Q2 2025), stock-based compensation of **$77 million** (Q1 2025) and **$117 million** (Q2 2025), and common stock repurchases of **$94 million** (Q1 2025) and **$111 million** (Q2 2025)[33](index=33&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=10&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Condensed Consolidated Statements of Cash Flows (in millions) | Metric | 6 Months Ended Jun 30, 2024 (in millions) | 6 Months Ended Jun 30, 2025 (in millions) | Change (in millions) | | :-------------------------------- | :---------------------------------------- | :---------------------------------------- | :------------------- | | Net cash provided by operating activities | $349 | $501 | $152 | | Net cash used in investing activities | $0 | $(156) | $(156) | | Net cash used in financing activities | $(1,055) | $(175) | $880 | | Net increase (decrease) in cash, cash equivalents, and restricted cash | $(712) | $176 | $888 | [Notes to Condensed Consolidated Financial Statements](index=12&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) [1. Business](index=12&type=section&id=1.%20Business) - Maplebear Inc. (Instacart) operates a technology platform connecting retailers, end users, advertisers, and shoppers in the U.S. and Canada, facilitating grocery and non-grocery transactions, offering advertising services, and providing SaaS solutions to retailers[41](index=41&type=chunk) [2. Significant Accounting Policies](index=12&type=section&id=2.%20Significant%20Accounting%20Policies) - The unaudited condensed consolidated financial statements are prepared in accordance with GAAP and SEC rules for interim information, consistent with annual statements. No significant changes to accounting policies from the **2024 10-K**[42](index=42&type=chunk)[44](index=44&type=chunk) - Management uses estimates and assumptions for revenue recognition, legal contingencies, and income taxes, considering macroeconomic trends like inflation and interest rate fluctuations[46](index=46&type=chunk)[48](index=48&type=chunk)[49](index=49&type=chunk) - The company is evaluating the impact of new FASB ASUs on income tax disclosures (ASU 2023-09, effective after Dec 15, 2024) and expense disaggregation (ASU 2024-03, effective after Dec 15, 2026)[50](index=50&type=chunk)[51](index=51&type=chunk) [3. Revenue](index=13&type=section&id=3.%20Revenue) Revenue Disaggregation (in millions) | Revenue Type | 3 Months Ended Jun 30, 2024 (in millions) | 3 Months Ended Jun 30, 2025 (in millions) | % Change | 6 Months Ended Jun 30, 2024 (in millions) | 6 Months Ended Jun 30, 2025 (in millions) | % Change | | :----------------- | :---------------------------------------- | :---------------------------------------- | :--------- | :---------------------------------------- | :---------------------------------------- | :--------- | | Transaction | $595 | $659 | 10.8% | $1,198 | $1,309 | 9.3% | | Advertising and other | $228 | $255 | 11.8% | $445 | $502 | 12.8% | | Total Revenue | $823 | $914 | 11.1% | $1,643 | $1,811 | 10.2% | - Deferred revenue, primarily from Instacart+ memberships, is expected to be recognized within one year. **$151 million** of revenue was recognized from deferred revenue balance as of Dec 31, 2024 during the six months ended June 30, 2025[55](index=55&type=chunk) - No customers accounted for **10%** or more of accounts receivable as of June 30, 2025, indicating reduced concentration risk compared to December 31, 2024 (Customer A: **10%**, Customer E: **16%**)[57](index=57&type=chunk) [4. Fair Value Measurements](index=14&type=section&id=4.%20Fair%20Value%20Measurements) Fair Value of Financial Assets (in millions) | Asset Type | Dec 31, 2024 (Level 1) | Dec 31, 2024 (Level 2) | Jun 30, 2025 (Level 1) | Jun 30, 2025 (Level 2) | | :---------------------------------------- | :--------------------- | :--------------------- | :--------------------- | :--------------------- | | Money market funds | $849 | $0 | $1,173 | $0 | | U.S. government and government agency debt securities (Cash equivalents) | $0 | $35 | $0 | $20 | | U.S. government and government agency debt securities (Short-term marketable securities) | $0 | $91 | $0 | $109 | | **Total** | **$849** | **$126** | **$1,173** | **$129** | - Investments in U.S. government and government agency debt securities are classified as Level 2, valued using observable market data[61](index=61&type=chunk) [5. Investments](

Instacart shoppers are ordering more often — and more carefully — as digital tools reframe how value is presented and perceived on the platform.By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions .Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.Total orders rose 17% ...

Group 1 - The core viewpoint of the article highlights that Maplebear, the parent company of grocery delivery platform Instacart, experienced a significant stock increase of over 11.3% after reporting strong second-quarter earnings [1] - Maplebear's second-quarter revenue grew by 11% year-over-year to $914 million, surpassing analyst expectations of $896 million [1] - Adjusted EBITDA for the second quarter increased by 26% year-over-year to $262 million, also exceeding the forecast of $242 million [1] Group 2 - The company's gross transaction value (GTV) rose by 11% year-over-year to $9.081 billion, exceeding the upper limit of the guidance range of $8.85 billion to $9.15 billion [1] - The number of orders increased by 17% year-over-year to 82.7 million, driven by a reduction in the minimum purchase amount for free delivery earlier this year [1] - For the third quarter, the company expects GTV to be between $9 billion and $9.15 billion, above the anticipated $8.96 billion, with adjusted EBITDA projected to be between $260 million and $270 million, also exceeding expectations [1]

Core Insights - Maplebear (CART) reported revenue of $914 million for the quarter ended June 2025, reflecting an 11.1% increase year-over-year and a surprise of +2.11% over the Zacks Consensus Estimate of $895.1 million [1] - The company's EPS for the quarter was $0.41, compared to $0.20 in the same quarter last year, resulting in an EPS surprise of +5.13% against the consensus estimate of $0.39 [1] Financial Performance Metrics - Gross Transaction Value (GTV) reached $9.08 billion, exceeding the average estimate of $8.94 billion from nine analysts [4] - Total orders amounted to 82.7 million, surpassing the seven-analyst average estimate of 80.63 million [4] - Revenue from advertising and other sources was reported at $255 million, slightly below the average estimate of $255.27 million from nine analysts [4] - Revenue from transactions was $659 million, exceeding the nine-analyst average estimate of $640.78 million [4] Stock Performance - Over the past month, Maplebear's shares have returned -0.6%, while the Zacks S&P 500 composite has increased by +1.2% [3] - The stock currently holds a Zacks Rank 2 (Buy), indicating potential for outperformance in the near term [3]

Company Performance - Maplebear (CART) reported quarterly earnings of $0.41 per share, exceeding the Zacks Consensus Estimate of $0.39 per share, and showing an increase from $0.20 per share a year ago, representing an earnings surprise of +5.13% [1] - The company posted revenues of $914 million for the quarter ended June 2025, surpassing the Zacks Consensus Estimate by 2.11%, and up from $823 million in the same quarter last year [2] - Over the last four quarters, Maplebear has surpassed consensus EPS estimates three times and topped consensus revenue estimates three times [2] Stock Performance - Maplebear shares have increased approximately 15.2% since the beginning of the year, outperforming the S&P 500's gain of 7.9% [3] - The current consensus EPS estimate for the upcoming quarter is $0.45 on revenues of $918.47 million, and for the current fiscal year, it is $1.73 on revenues of $3.67 billion [7] Industry Outlook - The Internet - Commerce industry, to which Maplebear belongs, is currently ranked in the bottom 34% of over 250 Zacks industries, indicating potential challenges ahead [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could impact Maplebear's stock performance [5][6]