Ibotta, Inc. - IBTA STOCK NEWS

Ibotta (NYSE: IBTA) reported strong Q3 2024 financial results with revenue growing 16% year-over-year to $98.6 million. The company achieved net income of $17.2 million and Adjusted EBITDA of $36.5 million, representing a 37% margin. Total redemptions increased 43% to 97.4 million, while redeemers grew 63% to 15.3 million. The growth was primarily driven by Walmart program expansion.

The company generated $39.5 million in operating cash flow and $36.7 million in free cash flow. For Q4 2024, Ibotta expects revenue of $100-106 million and Adjusted EBITDA of $30-34 million.

Ibotta (NYSE: IBTA) announces enhanced benefits for SNAP-eligible consumers, reaching over 40 million people in the US. The company launches SNAP Rewards, offering exclusive monthly deals including 100% cash back on Thanksgiving meal ingredients. Through 'Thanksgiving Your Way', users can customize their rewards bundle, valued between $25-$27 in cash back. The initiative marks Ibotta's fifth annual Free Thanksgiving program, which has previously helped feed over 11 million Americans. Additionally, Ibotta partners with Feeding America to provide up to 1 million meals through a November campaign where each user's first redemption contributes one meal to the cause.

Ibotta (NYSE: IBTA), a leading technology company in digital promotions and performance marketing solutions, has announced it will report its third quarter 2024 financial results on Wednesday, November 13, 2024, after market close. The company will host a conference call and webcast at 2:30 p.m. MT/4:30 p.m. ET to discuss the financial results, recent developments, and business outlook.

Interested parties can access the live call via phone (US/Canada: 877-405-1211; International: +1 215-268-9896) or through the webcast available at ir.ibotta.com. This announcement provides investors and analysts with the opportunity to gain insights into Ibotta's performance and future prospects directly from the management team.

Ibotta's second annual State of Spend report reveals significant shifts in consumer behavior and CPG marketing strategies amidst economic pressures. 72% of shoppers report the economy directly impacting their grocery habits, with many opting for lower-priced alternatives. Key findings include:

1. Consumers spent an additional $302 on food and beverage essentials over the past year, cutting back on discretionary categories.

2. 75% of shoppers would try a different brand if offered at a lower price.

3. 70% of CPG marketers view private labels as the biggest threat to their brands.

4. Digital promotions are seeing increased investment, up 26% from 2023.

5. 67% of CPG marketers prioritize new customer acquisition over retention.

The report underscores the growing importance of digital promotions in building brand loyalty and value for cost-conscious consumers.

Ibotta (NYSE: IBTA), a leading technology company in digital promotions and performance marketing, has announced its participation in two upcoming investor conferences. CEO Bryan Leach and CFO Sunit Patel will engage in a fireside chat at the Citi 2024 Global TMT Conference on September 4, 2024, at 12:50 p.m. PT. Additionally, CEO Bryan Leach will participate in another fireside chat at the Goldman Sachs Communacopia + Technology Conference on September 11, 2024, at 3:05 p.m. PT.

Both events will be accessible via audio webcasts on the investor relations section of Ibotta's website at http://investors.ibotta.com. These conferences provide an opportunity for Ibotta to showcase its position in the digital promotions and performance marketing industry to potential investors.

Ibotta (NYSE: IBTA), a leading digital promotions and performance marketing solutions provider, has announced a $100 million share repurchase program. The program, approved by the company's Board of Directors, allows for the repurchase of Ibotta's Class A common stock with no expiration date. Repurchases may be made through open market transactions or privately negotiated deals, subject to market conditions and legal requirements. The company may also enter into Rule 10b5-1 plans to facilitate repurchases. Ibotta is not obligated to acquire any specific amount of shares and can suspend or terminate the program at any time. The timing and number of shares repurchased will depend on factors such as price, market conditions, and alternative investment opportunities.

Ibotta's Ibotta Performance Network (IPN) has won the 'Performance Marketing Innovation Award' in the 7th annual MarTech Breakthrough Awards. The IPN, launched in 2022, is the first digital network delivering coordinated promotions across retailer platforms, third-party publisher sites, and Ibotta's direct-to-consumer properties. It allows marketers to influence consumer behavior while only paying for successful sales.

Key highlights:

• IPN reaches 98% of households through partnerships with major retailers like Walmart, Family Dollar, Dollar General, and Instacart
• American shoppers have earned over $2 billion through the IPN since 2012
• Ibotta serves more than 2,400 brand partners
• The network utilizes AI-driven optimization for targeted promotions

Ibotta (NYSE: IBTA) reported strong Q2 2024 financial results, demonstrating the success of its pay-for-performance model. Key highlights include:

- Total revenue of $87.9 million, up 14% year-over-year (29% non-GAAP growth)
- Redemption revenue of $74.0 million, up 27% year-over-year (51% non-GAAP growth)
- 13.7 million redeemers, a 158% increase year-over-year
- 80.7 million redemptions, up 58% year-over-year
- Net loss of $34.0 million (39% of revenue)
- Adjusted EBITDA of $25.3 million (29% margin)

Ibotta completed its IPO on April 22, 2024, raising $198.0 million in net proceeds. The company also announced a strategic partnership with Instacart and provided Q3 2024 guidance projecting revenue of $91-$96 million and Adjusted EBITDA of $28-$32 million.

Ibotta (NYSE: IBTA) reported Q2 2024 financial results, showing strong growth. Key highlights include:

- Revenue increased 14% YoY to $87.9 million (29% non-GAAP growth)

- Redemption revenue grew 27% YoY to $74.0 million (51% non-GAAP growth)

- IPN redeemers surged 158% YoY to 13.7 million

- Redemptions increased 58% YoY to 80.7 million

- Net loss of $34.0 million (39% of revenue)

- Adjusted EBITDA of $25.3 million (29% margin)

The company announced Instacart as a new IPN partner and provided Q3 2024 guidance of $91-96 million in revenue and $28-32 million in Adjusted EBITDA.