Ibotta Q2 revenue up 14% to $87.9M, swings to $34M net loss; lock-up release Sept 3

Ibotta, Inc.

2024-Q2 EPS reported -$1.41 revenue$170,253,000

Revenue $87.9M (+14% YoY); net loss $34.0M vs prior-year profit $15.3M; adjusted EBITDA $25.3M (29% margin).
Non-GAAP revenue +29% ex $9.4M breakage; IPN redeemers 13.7M (+158%) driven by Walmart+ expansion.
Announced multi-year Instacart partnership; digital offers on Instacart app by year-end.
Q3 guidance: revenue $91-96M, Adj. EBITDA $28-32M (32% margin at midpoint; non-GAAP +12% YoY).
Lock-up release: 20% of shares eligible for sale Sept 3, 2024 (lock-up period ends during blackout).

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