Filing Flows › Maplebear (CART) › Q2 2025
Maplebear (CART) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 8, 2025
Maplebear (CART) reported revenue of $914M for the second quarter 2025 (Q2 2025), +11% from a year earlier and +2% from the quarter before. Operating margin was 13.6%, net earnings $116M (12.7% of revenue).
Maplebear, Q2 2025: revenue $914M (+11% year over year), operating margin 13.6%, net earnings $116M, operating cash flow $203M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $914M | +2% | +11% |
| Gross profit | $678M | +1% | +9% |
| Operating profit | $124M | +13% | +138% |
| Net earnings | $116M | +9% | +90% |
| Operating cash flow | $203M | -32% | -17% |
| Free cash flow | $187M | -33% | -15% |
What changed
Revenue was $914.0M in Q2 2025, up 11% year over year and up 2% from the previous quarter. Transaction was the largest line at 72% of revenue. Transaction added $64.0M year over year (up 11%), 70% of the total change.
Gross margin was 74.2%, down 1.5 points from a year earlier. Operating profit was $124.0M, a 13.6% margin (up 7.2 points year over year). Of the extra revenue versus a year earlier, 79% reached operating profit, above the 6% margin then. Operating expenses fell 3% while revenue rose 11%. Net earnings were $116.0M, up 90% year over year. The effective tax rate was 18.3%.
Operating cash flow was $203.0M (down 17% year over year), 175% of net earnings. Non-cash charges added back $21.0M of depreciation and amortization and $106.0M of share-based compensation. Working capital and other items used $40.0M. Capital expenditures of $16.0M left free cash flow of $187.0M.
Questions
What was Maplebear's revenue in the second quarter 2025?
Maplebear (CART) reported revenue of $914M for the second quarter 2025 (Q2 2025), +11% from a year earlier and +2% from the quarter before.
Was Maplebear profitable in the second quarter 2025?
Operating profit was $124M (13.6% of revenue) and net earnings $116M.
Source: Maplebear 10-Q on SEC EDGAR.