The return to 17% revenue growth and 24.3% adjusted EBITDA margin, along with new publisher launches (7-Eleven, Speedway, Festival Foods), suggest the IPN expansion strategy is gaining traction. Monitor Q4 guidance execution and the pace of redemption activity ramp on new publisher properties in coming quarters.
How the stock moved after the report
⚠ Clustered BULLISH VIEWSTOCK ABOVE ENTRY AT T+1- T+0 · Nov 2 $60.35entry
- T+1 · yesterday +4.44%α +2.79% · $63.03
- T+2 · todayOpen
- T+5 · in 5d Pending
- T+20 · in 27d Pending
- T+60 · in 3mo Pending
Price Chart
REPLAYWatch the reaction play outHow similar events traded
Executive Summary
Ibotta reported Q3 2026 revenue of $97.8M (+17% YoY), exceeding the $88.6M consensus, and non-GAAP EPS of $0.62, beating the $0.44 consensus. The company guided Q4 2026 revenue of $94-98M (8% YoY growth at the midpoint), marking a return to growth after prior declines. Adjusted EBITDA rose 43% YoY to $23.8M, with margin expanding to 24.3%.
Key Financial Metrics
Key Facts
- Q3 2026 revenue of $97.8M, up 17% YoY from $83.3M, above the $88.6M consensus
- Non-GAAP diluted EPS of $0.62, up 11% YoY from $0.56, above the $0.44 consensus
- Total redemption revenue of $88.5M, up 23% YoY; third-party publisher redemption revenue up 43% to $70.7M
- Adjusted EBITDA of $23.8M, up 43% YoY, with margin of 24.3% vs 20.0% a year ago
- Redeemer base grew 30% YoY to 23.6 million; third-party publisher redemptions up 57%
- Q4 2026 guidance: revenue $94-98M (8% YoY growth at midpoint), adjusted EBITDA $15-17M
- Subsequent to quarter-end, launched promotions on 7-Eleven, Speedway, and Festival Foods apps
- Repurchased 0.4M shares for $14.4M at avg $36.39 per share
Financial Impact
Revenue beat consensus by $9.2M (10.4%); non-GAAP EPS beat by $0.18 (40.9%); adjusted EBITDA up 43% YoY
Segment Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| Third-party publishers | $70.7M | +43.4% |
| Direct-to-consumer | $27.2M | -20.1% |
Risk Factors
- Direct-to-consumer revenue continues to decline (down 20% YoY), partially offsetting third-party growth
- Redemption revenue per redemption declined 13% YoY, indicating potential pricing pressure or mix shift
- GAAP net loss of $3.5M persists, though narrowing from prior quarters
- Cash and cash equivalents declined to $149.9M from $186.6M at year-end 2025 due to share repurchases and operating losses
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001628280-26-068884 |
| Document: ibta-20261102.htm | 0001628280-26-068884 |
| Document: 0001628280-26-068884-index-headers.html | 0001628280-26-068884 |
| Document: 0001628280-26-068884-index.html | 0001628280-26-068884 |
| Document: 0001628280-26-068884.txt | 0001628280-26-068884 |
| 8-K Data (Synthetic) | 0001628280-26-068884 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Nov 4, 2026 today | Insider Cluster | $60.68 | awaiting T+1 | awaiting T+1 | $63.03 (+3.87%) |
Nov 3, 2026 1d ago | 144 | $60.25 | awaiting T+1 | awaiting T+1 | $63.03 (+4.61%) |
Nov 3, 2026 1d ago | 144 | $60.35 $63.03 | ▲ +4.44% | ▲ +2.79% | $63.03 (+4.44%) |
Nov 2, 2026 2d ago | 144 | $60.35 $63.03 | ▼ −4.44% | ▼ −2.79% | $63.03 (−4.44%) |
Nov 2, 2026 2d ago | 144 | $60.35 $63.03 | ▲ +4.44% | ▲ +2.79% | $63.03 (+4.44%) |
Nov 2, 2026 2d ago | 144 | $60.35 $63.03 | ▼ −4.44% | ▼ −2.79% | $63.03 (−4.44%) |
Nov 2, 2026 2d ago | Insider Cluster | $60.35 $63.03 | ▲ +4.44% | ▲ +2.79% | $63.03 (+4.44%) |
Nov 2, 2026 2d ago | 8-K | $60.35 $63.03 | ▲ +4.44% | ▲ +2.79% | $63.03 (+4.44%) |
Oct 30, 2026 5d ago | 144 | $50.07 $60.35 | ▲ +20.53% | ▲ +20.23% | $63.03 (+25.88%) |
Oct 29, 2026 6d ago | 144 | $48.62 $50.07 | ▲ +2.98% | ▲ +3.46% | $63.03 (+29.64%) |
US Market Status
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