IBTA — what changed in the latest 10-Q
A section-by-section comparison of IBTA's newest periodic SEC filing (10-K/10-Q) against the prior same-form filing: paragraphs added and removed per section, with verbatim excerpts. Purely a deterministic text diff — no similarity scores, no directional read, not investment advice.
Comparing 10-Q · 2026-08-04 vs the prior 10-Q · 2026-05-06
| Section | Outcome | Added | Removed | Minor | Unchanged |
|---|---|---|---|---|---|
| MD&A | Text added/removed | +35 | −27 | ~25 | 37 |
| Market risk (Item 3) | No paragraph-level changes | 0 | 0 | 0 | 28 |
| Controls & procedures | No paragraph-level changes | 0 | 0 | 0 | 28 |
| Legal proceedings | No paragraph-level changes | 0 | 0 | 0 | 28 |
| Risk factors | Text added/removed | +1 | 0 | ~19 | 370 |
| Other information | No paragraph-level changes | 0 | 0 | 0 | 27 |
Counts are paragraphs; added/removed means text added or removed vs the prior filing — no direction or judgement implied.
Representative excerpts
Up to 5 excerpts of about 300 characters per section, quoted verbatim from the two SEC filings.
MD&A
Text added vs the prior filing · source: 10-Q · 2026-08-04
The performance metrics below are presented in two categories: third-party publishers and direct-to-consumer (D2C), which sum to the total metric. Our third-party publisher business tends to reach consumers who may be more loyal to a specific retailer and are engaging with offers powered by Ibotta’s…
For the three months ended June 30, 2026 compared to the same period in 2025, total redemptions were 91.4 million and 80.5 million, respectively. For the six months ended June 30, 2026 compared to the same period in 2025, total redemptions were 179.4 million and 163.3 million, respectively.
Third-party publisher redeemers are consumers who have redeemed at least one digital offer on any publisher property that is not an Ibotta property, namely our retailer publishers. D2C redeemers are consumers who have redeemed at least one digital offer on any Ibotta property within the quarter.
For the three months ended June 30, 2026 compared to the same period in 2025, total redeemers were approximately 20.9 million and 17.3 million, respectively. For the six months ended June 30, 2026 compared to the same period in 2025, total redeemers were approximately 20.3 million and 17.2 million, …
For the three months ended June 30, 2026 compared to the same period in 2025, third-party publisher redemptions per redeemer were approximately 3.8 and 3.7, respectively. For both the six months ended June 30, 2026 and the same period in 2025, third-party publisher redemptions per redeemer were appr…
Text removed vs the prior filing · source: 10-Q · 2026-05-06
The performance metrics below are presented in two categories: direct-to-consumer (D2C) and third-party publishers, which sum to the total metric. The underlying trends and drivers of our D2C business often vary from those of our third-party publisher business. Our D2C business caters to consumers w…
For the three months ended March 31, 2026 compared to the same period in 2025, total redemptions were 88.0 million and 82.8 million, respectively.
D2C redeemers are consumers who have redeemed at least one digital offer on any Ibotta property within the quarter. Third-party publisher redeemers are consumers who have redeemed at least one digital offer on any publisher property that is not an Ibotta property, namely our retailer publishers.
For the three months ended March 31, 2026 compared to the same period in 2025, total redeemers were approximately 19.7 million and 17.1 million, respectively.
For the three months ended March 31, 2026 compared to the same period in 2025, third-party publisher redemptions per redeemer were approximately 3.9 and 4.0, respectively.
Risk factors
Text added vs the prior filing · source: 10-Q · 2026-08-04
We regularly evaluate and update our AI/ML models based on performance, learnings, and evolving best practices, with the goal of improving their capabilities and reliability over time. While this ongoing evolution is intended to enhance the accuracy, efficiency, and overall performance of our AI/ML …
How to read Risk Factors (Item 1A) in a 10-Q
A 10-Q risk-factor section usually takes one of three forms; this page classifies it as one of:
- Pointer — the filer states there have been no material changes and points back to the annual 10-K risk factors; there is no own risk text to compare this quarter.
- Partial update — the filer carves out specific updated risks ("except as set forth below"); the excerpts show exactly what is new this quarter.
- Restated in full — the quarter carries the complete risk-factor text. When the prior quarter was only a pointer there is no prior full text to diff against, so the page flags the section as restated instead.
This describes the filing structure only — it is never a judgement on whether risk went up or down.
Source: text-level diff of the two SEC EDGAR filings · deterministic (no AI-generated content) · for reference only · not investment advice