Financial Performance - Ibotta's Q3 2025 revenue reached $83.3 million, exceeding the guidance midpoint of $81.5 million by 2%[15] - Adjusted EBITDA for Q3 2025 was $16.6 million, surpassing the guidance midpoint of $11.5 million by 44%[15] - Total revenue experienced a year-over-year decline of 16%[19] - Adjusted EBITDA margin decreased by 17 percentage points year-over-year[19] Revenue Breakdown - Redemption revenue accounted for 87% of the total revenue in Q3 2025[23] - Within redemption revenue, 59% was attributed to third-party publishers (3PP) and 27% to direct-to-consumer (D2C)[23] - D2C redemption revenue decreased by 31% year-over-year[46] - Third-party publisher (3PP) redemption revenue decreased by 4% year-over-year[41] Q4 2025 Guidance - The company projects revenue between $80.0 million and $85.0 million, representing a 16% year-over-year decline at the midpoint[53] - Adjusted EBITDA is expected to be between $9.0 million and $12.0 million, with a 13% margin at the midpoint[53]