Ibotta (IBTA) Q4 2025 Earnings Call Transcript
The Motley Fool
by newsfeedback@fool.com (Motley Fool Transcribing)February 25, 2026
AI-Generated Deep Dive Summary
The Q4 2025 earnings call transcript for Ibotta (IBTA) revealed a mixed financial performance. While total revenue fell by 10% year over year to $88.5 million, sequential trends showed improvement during the quarter. Redemption revenue dropped by 5% year over year to $78.5 million, but there were notable shifts in its components: third-party publisher redemption revenue rose by 8% to $56.4 million, driven by strong demand for Ibotta’s Performance Network, while direct-to-consumer redemption revenue declined by 26% due to a shift in activity toward third-party channels.
Non-GAAP gross margin decreased significantly to 79%, down approximately 570 basis points year over year, primarily due to higher publisher and technology expenses. Adjusted EBITDA came in at $13.7 million, with an adjusted net income of $8.1 million, translating to a 15% margin. Despite these challenges, Ibotta maintained a strong cash position of $180.6 million
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Originally published on The Motley Fool on 2/25/2026