Ibotta Inc. (NYSE:IBTA) is one of the tech stocks to sell right now, according to Cathie Wood. In Q3 2025, ARK Investment Management had 907,386 shares of Ibotta Inc. (NYSE:IBTA) valued at $25.3 million, but by year‑end the firm completely exited its position. Ibotta, Inc. (IBTA) Board Adds $100M on $300M Buyback Program Following Solid Q4 2025 On March 11, Ibotta Inc. (NYSE:IBTA) board of directors approved an additional $100 million share repurchase authorization for Class A common stock. The new autho ...

Uber Joins the Ibotta Performance Network in Exclusive, Multi-Year Partnership Mar 25, 2026 8:15 AM Eastern Daylight Time Uber Joins the Ibotta Performance Network in Exclusive, Multi-Year Partnership Share Share "Ibotta's exclusive partnership with Uber makes it easier for brands to connect with consumers in a competitive marketplace,†said Bryan Leach, founder and CEO of Ibotta. "By putting offers directly into the Uber ecosystem, we are placing high-value savings in the palms of millions. Our partners now ...

Core Viewpoint - Ibotta, Inc. has authorized the purchase of up to an additional $100 million of its Class A common stock, indicating the Board's confidence in the company's long-term growth prospects [1] Group 1 - The new stock repurchase authorization follows a prior approval for a $300 million repurchase of Class A common stock [1] - The decision reflects the Board's commitment to enhancing shareholder value [1]

Ibotta (NYSE: IBTA) 2026 Conference Summary Company Overview - **Company**: Ibotta - **Ticker**: NYSE: IBTA - **Conference Date**: March 03, 2026 Key Points Business Evolution and Strategy - Ibotta has focused on improving core business execution by bringing in new leadership, including a new Chief Revenue Officer, and reorganizing by verticals instead of geography to better understand client needs and provide proactive solutions [4][5] - The company has integrated key learnings from client interactions into its core business, particularly in pricing strategies and campaign goal definitions [5][6] - The introduction of the LiveLift product has allowed for real-time profitability projections during campaigns, enhancing the ability to optimize promotional parameters [6][7] Innovations and Product Development - LiveLift has exceeded expectations in revenue performance and client feedback, with more pilots conducted in Q4 than in previous quarters combined [7][8] - Third-party measurement from firms like Circana has been introduced, providing independent sales lift reports that enhance credibility and benchmarking against digital media [7][20] - The evolution of coupon incrementality has been addressed, shifting the narrative from traditional coupon usage to a more data-driven approach that emphasizes profitability and campaign effectiveness [19][21] Market Position and Competitive Advantage - Ibotta's direct-to-consumer model differentiates it from competitors who rely on retailer partnerships, allowing for a more independent and performance-focused approach [16][17] - The company has established a consensus around measuring profitability in promotions, challenging the conventional wisdom that coupons are unprofitable [19] - Ibotta's fee-per-redemption pricing model aligns its interests with clients, focusing on sales rather than mere coupon clips [44][46] Future Vision and AI Integration - The vision for LiveLift includes enabling brand managers to self-service campaign configurations based on profitability and volume trade-offs, with AI optimizing campaign parameters over time [37][38] - As commerce evolves, Ibotta aims to remain relevant by integrating discounts into consumer decision-making processes, regardless of the platform used [41][42] Financial Performance and Growth Strategy - Ibotta aims to flatten its cost structure while increasing revenue through Smart Promotions and LiveLift, expecting to contribute significantly to the bottom line with minimal capital expenditures [59][61] - The company is focused on negotiating favorable publisher deals to enhance its Adjusted EBITDA margin as it scales [61] Challenges and Market Dynamics - The company acknowledges the need for continuous improvement in operational efficiency and cost management to maintain profitability [60][61] - Ibotta is aware of the competitive landscape, particularly regarding the disparity in offer content compared to predecessors who lack a focus on profitability and third-party measurement [53][54] Conclusion Ibotta is positioning itself as a leader in the digital coupon and promotions space by leveraging innovative products like LiveLift, enhancing measurement capabilities, and focusing on profitability. The company's strategic shifts and commitment to AI integration are expected to drive future growth and operational efficiency.

Core Insights - Ibotta's fourth quarter revenue was $88.5 million, a decrease of 10% year-over-year, with redemption revenue at $78.5 million, down 5% year-over-year, although there was "broad-based sequential progress" in redemption trends throughout the quarter [2][6] - The company reported that total redeemers increased by 19% to 20.4 million, but engagement metrics showed a decline, with redemptions per redeemer falling 16% to 4.6 [6][7] - Ibotta's fourth quarter performance exceeded expectations, driven by improved sales execution and enhancements to its core promotions product, as well as increased contributions from its "Live Lift" capabilities [4][12] Revenue and Financial Performance - Total ad and other revenue was $10 million, down 38% year-over-year, representing 11% of total revenue, attributed to pressure on direct-to-consumer redeemers [1] - Adjusted EBITDA for the fourth quarter was $13.7 million, with a margin of 15%, and adjusted net income was $8.1 million, reflecting a strong performance despite lower overall revenue [11] - The company ended the quarter with $186.6 million in cash and no debt, having repurchased approximately $55 million of stock [5][20] Operational Metrics - Non-GAAP gross margin fell about 570 basis points to 79%, primarily due to increased publisher-related and technology costs [5][9] - Non-GAAP operating expenses rose to 65% of revenue, an increase of approximately 700 basis points year-over-year, driven by higher professional fees and variable compensation [10] - The company plans to continue investing in transformation initiatives, which will lead to higher costs in 2026 [17] Future Outlook - For Q1 2026, Ibotta guided revenue between $78 million to $82 million and Adjusted EBITDA of $6 million to $8 million, indicating a slight year-over-year revenue growth expected in Q3 [16] - Management anticipates that a stronger core offering and more Live Lift campaigns will help return to year-over-year revenue growth later in 2026 [21] - The company is focusing on third-party measurement partnerships to enhance client trust and improve sales lift studies [13]

Company Overview - Ibotta, Inc. (IBTA) operates in the consumer technology sector, providing a mobile app that offers cash back on purchases, competing with Red Violet, Inc. (RDVT), which focuses on data analytics and identity verification solutions [1] Stock Performance - Ibotta is currently trading at $26.35, with a target price of $30.24, indicating a growth potential of 14.77% and a positive outlook for the stock [2] - Red Violet, Inc. is trading at $43.45, with a discounted cash flow (DCF) valuation of $42.95, resulting in a slight negative price difference of -1.16%, suggesting it is trading slightly above its intrinsic value [3][4] Investment Appeal - Ibotta appears to have a more favorable growth potential compared to Red Violet, making it a more appealing option for investors seeking growth in the consumer technology market [5][6] - The analysis indicates that IBTA could be a more attractive investment compared to RDVT for those interested in the consumer technology and digital coupon space [6]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to _________ Commission File Number: 001-42018 IBOTTA, INC. (Exact name of registrant as specified in its charter) Delaware (State or other jurisdiction ...

Financial Data and Key Metrics Changes - The company reported Q4 revenue of $88.5 million, a decline of 10% year-over-year, but Adjusted EBITDA was 31% above the midpoint of guidance, indicating improved execution and product strength [16][22] - Redemption revenue was $78.5 million, down 5% year-over-year, while third-party publisher redemption revenue increased by 8% to $56.4 million [16][17] - Adjusted net income was $8.1 million, with an adjusted diluted net income per share of $0.29 [22] Business Line Data and Key Metrics Changes - Direct-to-consumer redemption revenue decreased by 26% year-over-year to $22.2 million, reflecting a shift towards third-party publishers [17] - Live Lift revenue exceeded projections, contributing to overall revenue growth despite declines in other areas [16][17] - Total redeemers increased by 19% year-over-year to 20.4 million, indicating a healthy demand side [18] Market Data and Key Metrics Changes - The company noted a broad-based sequential improvement in redemption revenue trends throughout Q4, suggesting a recovery in market conditions [16] - The SNAP program changes led to incremental revenue, showcasing the company's ability to adapt to market needs [16][17] Company Strategy and Development Direction - The company is focused on enhancing its core product and expanding Live Lift capabilities, aiming to capture a larger share of the CPG marketing spend [15] - A shift towards an "Outcomes Era" is anticipated, where CPG clients will define desired outcomes and utilize AI for more agile resource allocation [12][14] - The company aims to standardize and automate its systems to accommodate a broader range of clients and improve operational efficiency [85][86] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, expecting a gradual improvement in revenue trends and a return to year-over-year growth later in the year [15][24] - The sentiment among clients is shifting towards leveraging AI for competitive advantage, with a focus on value-driven investments [41][42] - The company is committed to investing in areas critical to its transformation, which will reflect in higher costs but is expected to yield long-term benefits [25][27] Other Important Information - The company ended Q4 with $186.6 million in cash and cash equivalents and no debt, providing flexibility for future investments [22][28] - A share repurchase program was executed, purchasing approximately 2.1 million shares at an average price of $25.78 [23] Q&A Session Summary Question: Can you elaborate on the relationship between the core product and the new Live Lift solution? - Management highlighted that Live Lift enhances the core product by providing capabilities to project and measure profitability and incremental sales during campaigns, which is crucial for optimizing performance [31][33] Question: What is the sentiment of your clients as we enter the year? - Management noted that while there is still some uncertainty, clients are increasingly focused on how AI can provide competitive advantages and improve value propositions [41][42] Question: Can you discuss the drivers of strong growth in third-party redeemers? - Management indicated that success is seen across all third-party publishers, with new partnerships like DoorDash contributing significantly to growth [50][51] Question: What changes are being made to pricing strategies? - Management explained that the new pricing approach ties fees more closely to the price of products, making it more logical and client-centric [56][58] Question: How is the Live Lift sales cycle progressing? - Management reported that the adoption of Live Lift is accelerating, with more companies piloting the solution and showing interest in larger investments [63][65] Question: What are the key elements of your strategy for 2026? - Management emphasized the need for continued standardization and automation of systems to facilitate broader adoption of Live Lift and improve operational efficiency [84][86]

Financial Data and Key Metrics Changes - The company reported Q4 revenue of $88.5 million, a decline of 10% year-over-year, but Adjusted EBITDA was 31% above the midpoint of guidance, totaling $13.7 million with a margin of 15% [16][22] - Redemption revenue was $78.5 million, down 5% year-over-year, while third-party publisher redemption revenue increased by 8% to $56.4 million [16][17] - Non-GAAP gross margin decreased to 79%, down approximately 570 basis points year-over-year due to increased publisher-related and technology costs [19] Business Line Data and Key Metrics Changes - Direct-to-consumer redemption revenue fell by 26% year-over-year to $22.2 million, reflecting a shift towards third-party publishers [17] - Total redeemers increased by 19% year-over-year to 20.4 million, indicating growth in the demand side of the network [18] - Redemptions per redeemer decreased by 16% to 4.6, attributed to the quality and quantity of offers available [18] Market Data and Key Metrics Changes - The company noted broad-based sequential progress in redemption revenue trends throughout Q4, with LiveLift revenue exceeding projections [16][17] - The SNAP program contributed incremental revenue, showcasing improved execution in the market [16] Company Strategy and Development Direction - The company is focused on enhancing its core product and expanding LiveLift capabilities, aiming to capture a greater share of the CPG marketing spend [15] - The strategy includes transitioning clients from annual budgeting cycles to an outcomes-driven approach, leveraging artificial intelligence for better resource allocation [12][14] - The company anticipates that as clients adopt these new methodologies, it will lead to more agile and profitable operations [14] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, expecting low single-digit sequential revenue growth in Q2 and slight year-over-year growth in Q3 [24] - The sentiment among clients is shifting towards value-driven investments, with a focus on leveraging AI for competitive advantage [41][42] - The company is committed to investing in areas critical to its transformation, which will reflect in higher costs but is expected to yield long-term benefits [25][27] Other Important Information - The company ended Q4 with $186.6 million in cash and cash equivalents and no debt, providing flexibility for future investments and shareholder returns [22][28] - The company repurchased approximately 2.1 million shares at an average price of $25.78, with $34.9 million remaining under the current share repurchase authorization [23] Q&A Session Summary Question: Relationship between core product and LiveLift - Management highlighted that LiveLift enhances the core product by providing capabilities to project and measure profitability and incremental sales during campaigns, leading to better optimization [31][33] Question: Update on client approach and sales reorganization - Management noted improvements in understanding client industries and being proactive in outreach, which has resulted in better engagement with senior leaders [34][36] Question: Client sentiment and macroeconomic conditions - Management indicated that while there is still uncertainty, clients are focusing on AI's potential and value-driven strategies, adjusting their business models accordingly [41][42] Question: Drivers of third-party redeemer growth - Management attributed growth to successful partnerships and increased awareness of offers through various marketing strategies [50][51] Question: Changes in budget allocation and renewal patterns - Management observed an increase in companies testing and expanding campaigns, indicating positive leading indicators for future growth [82]

Financial Data and Key Metrics Changes - The company reported Q4 revenue of $88.5 million, a decline of 10% year-over-year, but Adjusted EBITDA was 31% above the midpoint of guidance, indicating improved performance [13][19] - Redemption revenue was $78.5 million, down 5% year-over-year, while third-party publisher redemption revenue increased by 8% to $56.4 million [15][19] - Non-GAAP gross margin for Q4 was 79%, down approximately 570 basis points year-over-year due to increased costs [17][19] Business Line Data and Key Metrics Changes - LiveLift revenue exceeded projections, contributing to overall revenue growth despite declines in other areas [14][19] - Direct-to-consumer redemption revenue decreased by 26% year-over-year, reflecting a shift towards third-party publishers [15] - Total redeemers increased to 20.4 million, up 19% year-over-year, indicating growth in user engagement [16] Market Data and Key Metrics Changes - The company noted a broad-based sequential improvement in redemption revenue trends throughout Q4 [13] - The SNAP program changes generated additional revenue, showcasing the company's ability to adapt to market conditions [14] - The company anticipates low single-digit sequential revenue growth in Q2 2026, with slight year-over-year growth expected in Q3 [21][22] Company Strategy and Development Direction - The company is focused on enhancing its core product and expanding LiveLift capabilities to drive revenue growth [12][21] - A strategic shift towards an "Outcomes Era" is being promoted, encouraging clients to define desired outcomes and utilize AI for better resource allocation [10][11] - The company aims to capture a larger share of the CPG marketing spend by delivering performance marketing principles to the industry [12] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, expecting a transition from a year of learning to a year of consistent execution in 2026 [26] - The sentiment among clients is shifting towards leveraging AI for competitive advantage, with a focus on value-driven decision-making [39][40] - Management highlighted the importance of improving offer supply to stabilize direct-to-consumer redeemers [23] Other Important Information - The company ended Q4 with $186.6 million in cash and cash equivalents, maintaining a healthy balance sheet with no debt [19][26] - A share repurchase program was executed, purchasing approximately 2.1 million shares at an average price of $25.78 [20] Q&A Session Summary Question: Can you elaborate on the relationship between the core product and the new LiveLift solution? - Management explained that LiveLift enhances the core product by providing more sophisticated capabilities for measuring profitability and optimizing campaigns [28][30] Question: How is the sentiment of your clients as we enter the year? - Management noted that while there is still some uncertainty, clients are increasingly focused on AI's potential and value-driven strategies [37][39] Question: What are the drivers of strong growth in third-party redeemers? - Management indicated that success is seen across all third-party publishers, with new partnerships like DoorDash contributing significantly [46][48] Question: What changes in budget allocation or renewal patterns have you observed? - Management reported an increase in companies testing and expanding campaigns, indicating positive leading indicators for future growth [76][78]