Ibotta, Inc. (IBTA) Stock

Ibotta, Inc. (IBTA) is a Technology stock trading at $36.55 (as of 2026-08-20), with a market capitalization of $851.02M. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Ibotta, Inc. provides the Ibotta Performance Network (IPN), a platform that helps consumer packaged goods brands distribute digital promotions to consumers. The company also provides promotional services through IPN to publishers, retailers, and advertisers.

Understand Ibotta, Inc.: how it makes money

Ibotta operates the Ibotta Performance Network (IPN), a digital promotions platform where consumer packaged goods brands deliver offers, and Ibotta earns money primarily from redemption-related revenue driven by performance (consumer redemptions), plus smaller ad products and other revenue.

Ibotta's profit engine is performance volume in its network, where redemption activity (redemptions and redeemers) translates into mostly redemption-linked revenue, and then operating expense control determines whether high gross profit turns into positive operating income.

Revenue by segment (latest quarter)
3P Redemptions$0.1B
D2C Redemptions$0.0B
Ad and Other$0.0B
Redemption Related$0.0B

Business quality (Weak): Strong on core operating activity (IPN redemptions and redeemers) and revenue sources, but the operating profit picture is currently weak (operating margin is negative), and the provided facts do not show the cost drivers in detail.

Bull case

  • Network scale: Ibotta Performance Network redemptions were 88,000,000 and redeemers were 19,700,000 in the latest period provided, supporting a large underlying transaction base.
  • Retention and expansion signals: Client Retention was 96%, LiveLift Re-Up Rate was 80%, and LiveLift Client Campaign Expansion or Renewal Rate was 80%.

Bear case

  • Not yet translating gross profit into operating profit: Despite gross margin of 76.4%, operating margin was -13.1%, indicating operating costs are currently outweighing gross profit.
  • Revenue is closely tied to redemption activity: Most revenue shown is redemption-related (including third-party publisher and direct-to-consumer), so changes in redemptions, redeemers, or client behavior could affect revenue.
Valuation — source: SEC EDGAR (first-party)
Price$36.55
Market Cap$851.02M
Price / Book3.52
Price / Sales2.52
FCF Yield17.5%
DCF Value (model)$29.71
DCF Upside vs Price-18.7%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$342.39M
Net Margin1.0%
Revenue Growth (YoY)-6.8%
EPS Growth (YoY)-95.4%
FCF Growth (YoY)-34.8%
Financial Health — source: SEC EDGAR
Altman Z-Score3.51 (safe)
Piotroski F-Score4/9 (moderate)
Valuation vs Sector & Industry
Sector P/E (Technology)33.9
Industry P/E (Business Services)30.0
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderKoch, Inc. ($131.54M)
Institutional Holders Tracked10
Company
SectorTechnology
IndustryBusiness Services
CEOBryan W. Leach
Employees886
CountryUS
IPO Date2024-04-19

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IBTA earnings history · IBTA institutional & insider holders · IBTA KPIs & operating metrics · IBTA financials · IBTA investor presentations & press releases · IBTA SEC filings · IBTA peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.