IBTA — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-05-06

• In 2025, we introduced LiveLift™, a set of capabilities designed to help brands drive incremental sales at scale in a more cost-efficient manner. LiveLift™ enables more sophisticated projections and profitability metrics, including incremental sales and CPID, to help our clients achieve the desired …

• Our business and results of operations are subject to global economic conditions. Our revenue depends on the ability of consumers to buy products that are featured on the IPN. Deteriorating macroeconomic conditions could lower promotional budgets and result in a decline in client spending, which cou…

• A redemption is a verified purchase of an item qualifying for an offer by a client on the IPN. The number of redemptions is an indicator of the scale and consumer engagement of our business, as well as the value we bring to our clients and publishers. Generally, redemptions change as budgets increas…

• D2C redemptions are redemptions on any D2C property. Third-party publisher redemptions are redemptions on all publishers excluding the D2C properties, namely our retailer publishers.

• For the three months ended March 31, 2026 compared to the same period in 2025, third-party publisher redemptions were approximately 70.7 million and 61.2 million, respectively. This growth was driven primarily by organic growth at existing third-party publishers, as well as the launch of new publish…

Text removed vs the prior filing · source: 10-Q · 2025-11-13

• Our business and results of operations are subject to global economic conditions. Our revenue depends on the ability of consumers to buy products that are featured on the IPN. Deteriorating macroeconomic conditions or decreases in consumer spending power or confidence, could lower promotional budget…

• Three months ended September 30,Nine months ended September 30,

• Three months ended September 30,Nine months ended September 30,

• Third-party publisher redemption revenue per redemption0.79 0.78 0.80 0.79

• A redemption is a verified purchase of an item qualifying for an offer by a client on the IPN. The number of redemptions are an indicator of the scale and consumer engagement of our business, as well as the value we bring to our clients and publishers. Generally, redemptions change as budgets increa…

Text added vs the prior filing · source: 10-Q · 2026-05-06

• •our ability to renew, maintain, and expand our relationships with publishers, including with Walmart Inc. and our other publishers on the IPN;

• •our ability to renew, maintain, and expand our relationships with clients, including in the grocery and general merchandise categories (CPG brands), and retailers;

• •our ability to roll out LiveLift™ to our client base, including features that allow for increased frequency of campaign measurement and greater optimization capabilities;

• •our expectations regarding the effects of existing and developing laws and regulations, and our ability to comply with such laws and regulations, including privacy matters, emerging artificial intelligence regulations, so-called “algorithmic pricing” or “surveillance pricing” laws, and laws regulat…

• •the need to attract, hire, and retain highly skilled technology, sales, and other personnel and our expectations regarding our return-to-office policy for all our employees located in the Denver area;

Text removed vs the prior filing · source: 10-Q · 2025-11-13

• •our ability to renew, maintain, and expand our relationships with publishers, specific products or groups of products identified by particular names and owned by a company that sells consumer packaged goods, including in the grocery and general merchandise categories (CPG brands), and retailers;

• •our ability to grow the number of consumers that use our platform and the amount redeemed by our redeemers;

• •our expectations regarding the macroeconomic environment, including rising inflation and interest rates, and uncertainty in the global banking and financial services markets;

• •our expectations regarding the effects of existing and developing laws and regulations, and our ability to comply with such laws and regulations, including privacy matters;

• •our expectations concerning relationships with third parties, including with Walmart Inc. and our other publishers on the IPN;

Text added vs the prior filing · source: 10-Q · 2026-05-06

• •our ability to renew, maintain, and expand our relationships with publishers, including with Walmart Inc. and our other publishers on the IPN;

• •our ability to renew, maintain, and expand our relationships with clients, including in the grocery and general merchandise categories (CPG brands), and retailers;

• •our ability to roll out LiveLift™ to our client base, including features that allow for increased frequency of campaign measurement and greater optimization capabilities;

• •our expectations regarding the effects of existing and developing laws and regulations, and our ability to comply with such laws and regulations, including privacy matters, emerging artificial intelligence regulations, so-called “algorithmic pricing” or “surveillance pricing” laws, and laws regulat…

• •the need to attract, hire, and retain highly skilled technology, sales, and other personnel and our expectations regarding our return-to-office policy for all our employees located in the Denver area;

Text removed vs the prior filing · source: 10-Q · 2025-11-13

• •our ability to renew, maintain, and expand our relationships with publishers, specific products or groups of products identified by particular names and owned by a company that sells consumer packaged goods, including in the grocery and general merchandise categories (CPG brands), and retailers;

• •our ability to grow the number of consumers that use our platform and the amount redeemed by our redeemers;

• •our expectations regarding the macroeconomic environment, including rising inflation and interest rates, and uncertainty in the global banking and financial services markets;

• •our expectations regarding the effects of existing and developing laws and regulations, and our ability to comply with such laws and regulations, including privacy matters;

• •our expectations concerning relationships with third parties, including with Walmart Inc. and our other publishers on the IPN;

Text added vs the prior filing · source: 10-Q · 2026-05-06

• •our ability to renew, maintain, and expand our relationships with publishers, including with Walmart Inc. and our other publishers on the IPN;

• •our ability to renew, maintain, and expand our relationships with clients, including in the grocery and general merchandise categories (CPG brands), and retailers;

• •our ability to roll out LiveLift™ to our client base, including features that allow for increased frequency of campaign measurement and greater optimization capabilities;

• •our expectations regarding the effects of existing and developing laws and regulations, and our ability to comply with such laws and regulations, including privacy matters, emerging artificial intelligence regulations, so-called “algorithmic pricing” or “surveillance pricing” laws, and laws regulat…

• •the need to attract, hire, and retain highly skilled technology, sales, and other personnel and our expectations regarding our return-to-office policy for all our employees located in the Denver area;

Text removed vs the prior filing · source: 10-Q · 2025-11-13

• •our ability to renew, maintain, and expand our relationships with publishers, specific products or groups of products identified by particular names and owned by a company that sells consumer packaged goods, including in the grocery and general merchandise categories (CPG brands), and retailers;

• •our ability to grow the number of consumers that use our platform and the amount redeemed by our redeemers;

• •our expectations regarding the macroeconomic environment, including rising inflation and interest rates, and uncertainty in the global banking and financial services markets;

• •our expectations regarding the effects of existing and developing laws and regulations, and our ability to comply with such laws and regulations, including privacy matters;

• •our expectations concerning relationships with third parties, including with Walmart Inc. and our other publishers on the IPN;

Text added vs the prior filing · source: 10-Q · 2026-05-06

• •Our business, financial condition, results of operations, and prospects could be materially adversely affected if we fail to maintain or grow offer supply and redemptions on our network.

• •Our business, financial condition, results of operations, and prospects could be materially adversely affected if we do not renew, maintain, and expand our relationships with clients or add new clients.

• •Our business, financial condition, results of operations, and prospects could be materially adversely affected if we do not renew, maintain, and expand our relationships with existing publishers and add new publishers to the IPN, or if our publishers experience (as they have previously) downturns, …

• •We are making substantial investments to capitalize on new and unproven business opportunities, including investment in AI/ML tools and technologies, and expect to increase such investments in the future. These initiatives are risky, and we may never realize any expected benefits from them.

• •introduce new tools, technologies, and strategic initiatives; and

Text removed vs the prior filing · source: 10-Q · 2025-11-13

• •Our business, financial condition, results of operations, and prospects could be materially adversely affected if we do not renew, maintain, and expand our relationships with existing publishers and add new publishers to the Ibotta Performance Network (IPN), or if our publishers experience (as they…

• •If we fail to maintain or grow offer supply and redemptions on our network, our revenues and business may be negatively affected.

• •Our business, financial condition, results of operations, and prospects could be materially adversely affected if we do not renew, maintain, and expand our relationships with CPG brands or add new CPG brands.

• •We are making substantial investments to capitalize on new and unproven business opportunities and expect to increase such investments in the future. These initiatives are risky, and we may never realize any expected benefits from them.

• •We have previously identified material weaknesses in our internal controls over financial reporting and if we are unable to maintain effective internal controls or if we identify additional material weaknesses in the future, we may not be able to accurately or timely report our financial condition …

Text added vs the prior filing · source: 10-Q · 2026-05-06

• •our ability to renew, maintain, and expand our relationships with publishers, including with Walmart Inc. and our other publishers on the IPN;

• •our ability to renew, maintain, and expand our relationships with clients, including in the grocery and general merchandise categories (CPG brands), and retailers;

• •our ability to roll out LiveLift™ to our client base, including features that allow for increased frequency of campaign measurement and greater optimization capabilities;

• •our expectations regarding the effects of existing and developing laws and regulations, and our ability to comply with such laws and regulations, including privacy matters, emerging artificial intelligence regulations, so-called “algorithmic pricing” or “surveillance pricing” laws, and laws regulat…

• •the need to attract, hire, and retain highly skilled technology, sales, and other personnel and our expectations regarding our return-to-office policy for all our employees located in the Denver area;

Text removed vs the prior filing · source: 10-Q · 2025-11-13

• •our ability to renew, maintain, and expand our relationships with publishers, specific products or groups of products identified by particular names and owned by a company that sells consumer packaged goods, including in the grocery and general merchandise categories (CPG brands), and retailers;

• •our ability to grow the number of consumers that use our platform and the amount redeemed by our redeemers;

• •our expectations regarding the macroeconomic environment, including rising inflation and interest rates, and uncertainty in the global banking and financial services markets;

• •our expectations regarding the effects of existing and developing laws and regulations, and our ability to comply with such laws and regulations, including privacy matters;

• •our expectations concerning relationships with third parties, including with Walmart Inc. and our other publishers on the IPN;