Financial Performance - Ibotta's Q2 2025 revenue was $86 million, which is 8% lower than the guidance midpoint of $89.5 million[15] - Adjusted EBITDA for Q2 2025 was $17.9 million, 4% lower than the guidance midpoint of $19.5 million[15] - Total revenue decreased by 2% year-over-year from $87.9 million in Q2 2024 to $86 million in Q2 2025[18] - Adjusted EBITDA declined by 8%, with the margin decreasing from 29% in Q2 2024 to 21% in Q2 2025[18] - Ibotta projects revenue between $79 million and $84 million for Q3 2025, a 17% year-over-year decline at the midpoint[48] - Adjusted EBITDA for Q3 2025 is projected to be between $9.5 million and $13.5 million, with a 14% margin at the midpoint[48] Revenue Breakdown and Key Drivers - Redemption revenue constitutes 85% of Ibotta's total revenue in Q2 2025[22] - Ad & other revenue makes up the remaining portion of Ibotta's revenue[23] - Redemption revenue decreased by 1% year-over-year[33] - Direct-to-consumer (D2C) redemption revenue decreased by 24% year-over-year[41] - Third-party publisher (3PP) redemption revenue increased by 17% year-over-year[37]
Ibotta, Inc.(IBTA) - 2025 Q2 - Earnings Call Presentation