Filing Flows › Maplebear (CART) › Q3 2025
Maplebear (CART) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 10, 2025
Maplebear (CART) reported revenue of $939M for the third quarter 2025 (Q3 2025), +10% from a year earlier and +3% from the quarter before. Operating margin was 17.7%, net earnings $144M (15.3% of revenue).
Maplebear, Q3 2025: revenue $939M (+10% year over year), operating margin 17.7%, net earnings $144M, operating cash flow $287M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $939M | +3% | +10% |
| Gross profit | $692M | +2% | +8% |
| Operating profit | $166M | +34% | +20% |
| Net earnings | $144M | +24% | +22% |
| Operating cash flow | $287M | +41% | +55% |
| Free cash flow | $272M | +45% | +59% |
What changed
Revenue was $939.0M in Q3 2025, up 10% year over year and up 3% from the previous quarter. Transaction was the largest line at 71% of revenue. Transaction added $64.0M year over year (up 11%), 74% of the total change.
Gross margin was 73.7%, down 1.5 points from a year earlier. Operating profit was $166.0M, a 17.7% margin (up 1.5 points year over year). Of the extra revenue versus a year earlier, 32% reached operating profit, above the 16% margin then. Operating expenses grew 5% against revenue growth of 10%. The fastest-growing cost line was Research & development (+13%). Net earnings were $144.0M, up 22% year over year. The effective tax rate was 20.4%.
Operating cash flow was $287.0M (up 55% year over year), 199% of net earnings. Non-cash charges added back $25.0M of depreciation and amortization and $81.0M of share-based compensation. Working capital and other items added $37.0M. Capital expenditures of $15.0M left free cash flow of $272.0M.
Questions
What was Maplebear's revenue in the third quarter 2025?
Maplebear (CART) reported revenue of $939M for the third quarter 2025 (Q3 2025), +10% from a year earlier and +3% from the quarter before.
Was Maplebear profitable in the third quarter 2025?
Operating profit was $166M (17.7% of revenue) and net earnings $144M.
Source: Maplebear 10-Q on SEC EDGAR.