Instacart's parent company, Maplebear (CART, Financial), experienced a significant stock decline of 12.26%, marking its largest single-day drop. This downturn followed the release of disappointing fourth-quarter results and a lower-than-expected earnings forecast for the upcoming quarter.
For the fourth quarter, Instacart reported a 10% year-over-year revenue increase to $883 million, falling short of analysts' expectations of $891 million. Under GAAP accounting standards, net profit rose by $13 million to $148 million. Adjusted EBITDA grew by 27% to $252 million, while the Gross Transaction Value (GTV), which measures the value of products sold, increased by 10% to $8.645 billion.
Looking ahead, Maplebear forecasts its first-quarter 2025 adjusted EBITDA to be between $220 million and $230 million, with the midpoint below the analysts' average expectation of $237.1 million. The company also anticipates a total transaction value between $9 billion and $9.15 billion, aligning with analysts' average prediction of $9 billion.
Despite a more than 76% stock price increase last year, Maplebear's shares have fallen over 19% since reaching a historic high of $53.15 per share on February 19.
