IBTA - Ibotta, Inc.
Price:
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--
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CONSENSUS:
Buy
DETAILS
|
PRICE TARGET:
$42.50
DETAILS
HIGH:
$45.00
LOW:
$40.00
MEDIAN:
$42.50
CONSENSUS:
$42.50
UPSIDE:
31.91%
| Metric | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Revenue | ||||
| Revenue | 342.4 | 367.3 | 320.0 | 210.7 |
| Cost of Revenue | 75.0 | 50.1 | 47.7 | 49.2 |
| Gross Profit | 267.4 | 317.1 | 272.4 | 161.5 |
| Operating Expenses | ||||
| R&D Expenses | 61.1 | 63.3 | 50.0 | 42.6 |
| SG&A Expenses | 207.2 | 222.0 | 166.4 | 159.2 |
| Other Expenses | (2.5) | 4.0 | 0 | 0 |
| Operating Expenses | 265.8 | 289.2 | 216.4 | 201.8 |
| Operating Income | ||||
| Operating Income | 1.7 | 27.9 | 56.0 | (40.3) |
| Interest Expense | 0 | 0 | 6.9 | 5.3 |
| Interest Income | 10.8 | 9.4 | 0 | 0 |
| Profitability | ||||
| EBITDA | 10.0 | 32.6 | 62.7 | (34.0) |
| EBIT | 1.7 | 24.5 | 56.0 | (40.3) |
| Income Before Tax | 9.8 | 24.5 | 44.1 | (54.6) |
| Income Tax Expense | 6.3 | (44.2) | 5.9 | 0.3 |
| Net Income | 3.6 | 68.7 | 38.1 | (54.9) |
| Per Share Data | ||||
| EPS (Basic) | 0.13 | 2.85 | 1.26 | -1.81 |
| EPS (Diluted) | 0.12 | 2.56 | 1.26 | -1.81 |
| Shares Outstanding | 28.4 | 24.1 | 30.2 | 30.2 |
| Metric | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Current Assets | ||||
| Cash & Cash Equivalents | 186.6 | 349.3 | 62.6 | 17.8 |
| Short-Term Investments | 0 | 0 | 0 | 27.7 |
| Net Receivables | 208.7 | 220.9 | 226.4 | 121.6 |
| Inventory | 0 | 0 | 0 | 0 |
| Other Current Assets | 12.6 | 1.2 | 0.9 | 7.4 |
| Total Current Assets | 407.9 | 581.7 | 298.3 | 174.5 |
| Non-Current Assets | ||||
| Property, Plant & Equipment | 33.3 | 2.0 | 3.4 | 5.6 |
| Goodwill | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 16.2 | 12.8 | 8.8 |
| Long-Term Investments | 0 | 4.5 | 4.5 | 4.5 |
| Other Non-Current Assets | 29.8 | 74.0 | 0.7 | 0.3 |
| Total Non-Current Assets | 118.0 | 96.7 | 21.4 | 20.6 |
| Total Assets | 525.9 | 678.4 | 319.8 | 195.1 |
| Current Liabilities | ||||
| Account Payables | 10.8 | 7.2 | 8.9 | 5.9 |
| Short-Term Debt | 0 | 0 | 0 | 0 |
| Deferred Revenue | 2.9 | 5.0 | 2.6 | 3.1 |
| Other Current Liabilities | 194.0 | 94.5 | 107.0 | 117.6 |
| Total Current Liabilities | 207.8 | 204.2 | 198.2 | 143.9 |
| Non-Current Liabilities | ||||
| Long-Term Debt | 25.5 | 0 | 64.4 | 61.1 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 5.0 | 17.0 | 29.3 | 24.9 |
| Total Non-Current Liabilities | 30.5 | 17.0 | 93.7 | 86.0 |
| Total Liabilities | 238.3 | 221.1 | 291.9 | 229.9 |
| Stockholders' Equity | ||||
| Common Stock | 0 | 0 | 0 | 0 |
| Retained Earnings | (136.9) | (140.4) | (209.2) | (247.3) |
| Accumulated Other Comprehensive Income | 0 | 0 | 0 | (0.1) |
| Total Stockholders' Equity | 287.7 | 457.3 | 27.9 | (34.8) |
| Total Liabilities & Equity | 525.9 | 678.4 | 319.8 | 195.1 |
| Debt Metrics | ||||
| Total Debt | 25.5 | 0 | 64.4 | 61.1 |
| Net Debt | (161.1) | (349.3) | 1.9 | 43.2 |
| Metric | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Operating Activities | ||||
| Net Income | 3.6 | 68.7 | 38.1 | (54.9) |
| Depreciation & Amortization | 8.3 | 8.1 | 6.7 | 6.3 |
| Stock-Based Compensation | 44.1 | 46.9 | 7.0 | 6.5 |
| Change in Working Capital | 24.7 | (52.8) | (51.6) | (26.8) |
| Other Non-Cash Items | 11.4 | 44.9 | 22.5 | 12.3 |
| Operating Cash Flow | 95.3 | 115.9 | 22.7 | (56.5) |
| Investing Activities | ||||
| Capital Expenditure | (20.3) | (10.2) | (8.2) | (8.3) |
| Acquisitions | 0 | 0 | 0 | 0 |
| Purchases of Investments | 0 | 0 | 0 | (66.0) |
| Sales/Maturities of Investments | 0 | 0 | 27.9 | 38.6 |
| Other Investing Activities | (14.0) | (9.3) | (7.7) | 0 |
| Investing Cash Flow | (34.3) | (10.2) | 19.7 | (35.7) |
| Financing Activities | ||||
| Net Debt Issuance | 0 | 0 | 0 | 73.3 |
| Stock Repurchased | (233.0) | (31.3) | 0 | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 |
| Other Financing Activities | (3.4) | 6.0 | (0.0) | (75.4) |
| Financing Cash Flow | (224.0) | 181.4 | 2.4 | 74.0 |
| Cash Position | ||||
| Net Change in Cash | (163.1) | 287.1 | 44.8 | (18.1) |
| Cash at Beginning | 349.7 | 62.6 | 17.8 | 35.9 |
| Cash at End | 186.6 | 349.7 | 62.6 | 17.8 |
| Free Cash Flow | 75.0 | 105.7 | 14.5 | (64.8) |
| Key Metrics | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|
| Income Statement | ||||
| Revenue | 342.4 | 367.3 | 320.0 | 210.7 |
| Gross Profit | 267.4 | 317.1 | 272.4 | 161.5 |
| Operating Income | 1.7 | 27.9 | 56.0 | (40.3) |
| Net Income | 3.6 | 68.7 | 38.1 | (54.9) |
| EPS (Diluted) | 0.12 | 2.56 | 1.26 | -1.81 |
| Balance Sheet | ||||
| Cash & Equivalents | 186.6 | 349.3 | 62.6 | 17.8 |
| Total Assets | 525.9 | 678.4 | 319.8 | 195.1 |
| Total Debt | 25.5 | 0 | 64.4 | 61.1 |
| Stockholders' Equity | 287.7 | 457.3 | 27.9 | (34.8) |
| Cash Flow | ||||
| Operating Cash Flow | 95.3 | 115.9 | 22.7 | (56.5) |
| Capital Expenditure | (20.3) | (10.2) | (8.2) | (8.3) |
| Free Cash Flow | 75.0 | 105.7 | 14.5 | (64.8) |