Filing Flows › Maplebear (CART) › Q1 2026
Maplebear (CART) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 7, 2026
Maplebear (CART) reported revenue of $1.0B for the first quarter 2026 (Q1 2026), +14% from a year earlier and +3% from the quarter before. Operating margin was 17.9%, net earnings $144M (14.1% of revenue).
Maplebear, Q1 2026: revenue $1.0B (+14% year over year), operating margin 17.9%, net earnings $144M, operating cash flow $268M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.0B | +3% | +14% |
| Gross profit | $738M | +3% | +10% |
| Operating profit | $182M | +88% | +65% |
| Net earnings | $144M | +78% | +36% |
| Operating cash flow | $268M | +46% | -10% |
| Free cash flow | $252M | — | -10% |
What changed
Revenue was $1.0B in Q1 2026, up 14% year over year and up 3% from the previous quarter. Transaction was the largest line at 72% of revenue. Transaction added $0.08B year over year (up 13%), 68% of the total change.
Gross margin was 72.4%, down 2.4 points from Q1 2025. Operating profit was $0.18B, a 17.9% margin (up 5.6 points year over year). Of the extra revenue versus Q1 2025, 59% reached operating profit, above the 12% margin then. Operating expenses fell 1% while revenue rose 14%. The fastest-growing cost line was Research & development (+14%). Net earnings were $0.14B, up 36% year over year. The effective tax rate was 23.4%.
Operating cash flow was $0.27B (down 10% year over year), 186% of net earnings. Non-cash charges added back $0.03B of depreciation and amortization and $0.08B of share-based compensation. Working capital and other items added $0.01B. After purchases of property and equipment, including capitalized internal-use software ($0.02B), free cash flow as the company reports it was $0.25B.
Questions
What was Maplebear's revenue in the first quarter 2026?
Maplebear (CART) reported revenue of $1.0B for the first quarter 2026 (Q1 2026), +14% from a year earlier and +3% from the quarter before.
Was Maplebear profitable in the first quarter 2026?
Operating profit was $182M (17.9% of revenue) and net earnings $144M.
Source: Maplebear 10-Q on SEC EDGAR.