Ibotta beats by $0.30, misses on revs; guides Q3 revs below consensus
- Reports Q2 (Jun) earnings of $0.49 per share, excluding non-recurring items, $0.30 better than the FactSet Consensus of $0.19; revenues fell 2.2% year/year to $86 mln vs the $90.59 mln FactSet Consensus.
- Total redemption revenue of $73.2 million, a decrease of 1% year-over-year.
- During the quarter, the IPN had 17.3 million redeemers, compared to 13.7 million redeemers in the second quarter of 2024, an increase of 27% year-over-year. The primary driver of year-over-year growth was the launch of Instacart during the fourth quarter of 2024, like-for-like growth at our existing publishers, and the partial launch of DoorDash.
- Co issues downside guidance for Q3, sees Q3 revs of $79.0-$85.0 mln vs. $101.80 mln FactSet Consensus. Adjusted EBITDA of $9.5 - $13.5 million, representing a margin of 14% at the midpoint.
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