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Ibotta, Inc.

IBTA

Technology · 41.17 +2.8% today

Isolated · not yet confirmedMarket checked 11 Sept, 15:55 GMT-4

Market read

Ibotta, Inc.'s current read is isolated; its market group is not confirming.

No new filing conclusion is available. 0 of 18 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 9 directly disclosed connections are confirming.

Company+2.8% todayVolume comparison unavailable
Market group0 of 18 activeDigital Services & Software · unavailable
Disclosed network0 of 8 confirmingNo filing-linked name is confirming now
What would change this read
  • IBTA's market-adjusted activity becomes unusual and at least one connected name confirms.

Invalidation: The isolated read changes if IBTA's group or a disclosed connection begins moving with it.

Watch this read

Research brief

The story so far

Technology · Software - Application

No new filing conclusion is available. 0 of 18 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 9 directly disclosed connections are confirming.

Evidence that supports

No thresholded supportive filing evidence is available yet.

Evidence that challenges

No thresholded adverse filing evidence is available yet.

What would clarify the read
  • IBTA's market-adjusted activity becomes unusual and at least one connected name confirms.

Company research

Understand the business, not just the ticker

As of Sep 12, 2026
Business model and earnings drivers

Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.

Key research questions
  • Which operating variable is changing?
  • Is that change durable, cyclical or one-off?
  • What evidence would disprove the current interpretation?
Annual periods4
Price observations320
Usable filing statements109
Verified relationships9
Evidence supporting the case
  • Operating cash flow covered net income at 26.65x in the latest annual period.
Evidence challenging the case
  • Latest annual revenue changed -6.8% year over year.
  • Operating margin changed -7.8 percentage points in the latest annual period.
  • Net margin changed -17.7 percentage points in the latest annual period.
  • Diluted shares increased 12.1% in the latest annual period.
  • Product pipeline and R&D has repeated adverse evidence across 4 filings.
Questions before a position
  • EV/sales is 38% above the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context

Price as of Sep 11, 2026

41.17
6m+65.1%12m+61.6%24m
Annual trajectory

Reported annual revenue and per-share history. This is accounting history, not a forecast.

PeriodRevenueYoYDiluted EPSShare change
2022-12-31$210.7M$-6.33
2023-12-31$320.0M+51.9%$1.42
2024-12-31$367.3M+14.8%$2.56-0.2%
2025-12-31$342.4M-6.8%$0.12+12.1%

What management says matters

Persistent and emerging business drivers

Product pipeline and R&Dnegative · 4 filings
Research and development Year ended December 31, Change 2025 2024 $ % (in thousands, except percentages) Research and development $ 61,082 $ 63,271 $ (2,189) (3) % Research and development decreased $2.2 million, or 3%, during the year ended December 31, 2025…
10-K · Feb 26, 2026
Restructuring and cost reductionsmixed · 4 filings
The increase in personnel-related costs was primarily driven by increases in sales bonus, average salary, and stock-based compensation, partially offset by a $0.6 million decrease related to restructuring charges incurred in the prior year.
10-Q · May 6, 2026
Credit and interest ratesmixed · 3 filings
5%, during the year ended December 31, 2025, compared to the year ended December 31, 2024, due to a $3.1 million decrease in interest expense resulting from the extinguishment of the convertible notes upon IPO in 2024, partially offset by a $1.8 million decre…
10-K · Feb 26, 2026

Valuation discipline

Descriptive valuation snapshot

Price/sales 3.6× · EV/sales 3.1×. Comparisons use only industry-matched filing peers.

Scenario scaffold

Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.

Price action

How the market is pricing the story

41.17+2.8% today

Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 11 Sept, 15:55 GMT-4; this is a coverage limitation, not a flat-price conclusion.

Developments

No sourced recent-development timeline yet

Jodie has not returned a relevant primary source or news item for IBTA. This is an evidence-coverage gap, not a conclusion that nothing material happened.

Business and financial condition

Reported financial figures are not available yet

Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.

Filing analysis

No comparable filing assessment is available yet

Jodie has not yet found a suitable current-versus-prior filing comparison for IBTA. This does not mean the latest filing was neutral or immaterial.

Business ecosystem

The relationships behind IBTA

Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.

Depends on

WMTWalmart Inc.customerMay 6, 2026

We have strategic relationships with Walmart Inc.

CARTMaplebear Inc.customerMay 6, 2026

We have strategic relationships with Walmart Inc.

DGDollar General CorporationcustomerMay 6, 2026

We have strategic relationships with Walmart Inc.

Filing peers

No filing peers are available for this name yet.

Open the three relationships above to see Jodie’s filing proof. Pro unlocks 6 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →

What is moving around it

Live connections

IBTA is currently a Follower in the organic co-movement group Digital Services & Software. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.

This group is retained as the last observed read for IBTA; it is not active in the latest market snapshot.

Context history

Theme membership history

No durable theme membership has been observed for this name yet.