Q2 2026 Ibotta Inc Earnings Call Transcript
Key Points
- Ibotta Inc (IBTA) returned to year-over-year revenue growth a full quarter ahead of expectations, with Q2 revenue of $88.9 million, up 3%.
- Redemption revenue grew 10% year-over-year, the fastest pace since Q3 2024, driven by a 27% increase in third-party publisher redemption revenue.
- Redeemer base expanded 21% year-over-year to 20.9 million, with third-party redemptions per redeemer returning to growth for the first time since Q3 2024.
- The company secured a major new publisher partnership with 7-Eleven, expanding its convenience store footprint to over 11,500 U.S. locations.
- LiveLift revenue continues to grow both year-over-year and sequentially, and the company is on track with its automation initiatives to enhance the buying experience.
- Direct-to-consumer redemption revenue declined 24% year-over-year, reflecting a continued shift of redemption activity to third-party publishers.
- Ad and other revenues fell 32% year-over-year, pressured by lower direct-to-consumer redeemers, though partially offset by data revenue growth.
- Redemption revenue per redemption declined 4% year-over-year due to a mix shift in redemption activity.
- Non-GAAP operating expenses increased 8% year-over-year, with sales and marketing expenses up 17% due to planned labor investments and third-party Lift studies.
- The company expects a slight sequential revenue decline in Q3 due to the timing of seasonal promotional events, with Q3 revenue guidance of $86-$90 million.
Good afternoon, and welcome to Ibotta's Q2 2026 earnings conference call. With us today are Bryan Leach, Founder and CEO; and Matt Puckett, CFO.
Today's press release and this call contain forward-looking statements. Forward-looking statements include statements about our future operating results, our guidance for Q3 2026, our ability to grow our revenue, our ability to grow supply and demand on our network, factors contributing to our potential revenue growth our key initiatives, our partnerships and the capabilities of our offerings and technology, all of which are subject to inherent risks, uncertainties and changes. These statements reflect our current expectations and are based on the information currently available to us, and our actual results could differ materially.
For more information, please refer to the risk factors in our recent SEC filings. In addition, our discussion today will include references to certain supplemental non-GAAP financial measures and should be considered in addition to and not as a substitute for our GAAP results. Reconciliations to the most comparable
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
