Filing Flows › Ibotta (IBTA) › Q1 2026
Ibotta (IBTA) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 6, 2026
Ibotta (IBTA) reported revenue of $82.5M for the first quarter 2026 (Q1 2026), -2% from a year earlier and -7% from the quarter before. Operating margin was -13.1%, net loss $10.3M (12.5% of revenue).
Ibotta, Q1 2026: revenue $82.5M (-2% year over year), operating margin -13.1%, net loss $10.3M, operating cash flow $30.4M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $82.5M | -7% | -2% |
| Operating profit | −$10.8M | — | — |
| Net earnings | −$10.3M | — | -1960% |
| Operating cash flow | $30.4M | +9% | +53% |
| Free cash flow | $23.3M | — | +56% |
What changed
Revenue was $82.5M in Q1 2026, down 2% year over year and down 7% from the previous quarter. Redemption revenue was the largest line at 89% of revenue. Ad & other revenue lost $1.7M year over year (down 15%), 82% of the total change.
Gross margin was 76.4%, down 3.4 points from Q1 2025. Operating costs exceeded revenue by $10.8M, an operating margin of -13.1%. Operating expenses grew 5% against a revenue fall of 2%. The fastest-growing cost line was Other operating costs (+60%). The quarter ended with a net loss of $10.3M, wider than the previous quarter's $1.0M loss.
Operating cash flow was $30.4M (up 53% year over year). Non-cash charges added back $2.9M of depreciation and amortization and $14.5M of share-based compensation. Working capital and other items added $23.3M. After itions to capitalized software development costs ($4.0M) and itions to property and equipment ($3.1M), free cash flow as the company reports it was $23.3M.
Questions
What was Ibotta's revenue in the first quarter 2026?
Ibotta (IBTA) reported revenue of $82.5M for the first quarter 2026 (Q1 2026), -2% from a year earlier and -7% from the quarter before.
Was Ibotta profitable in the first quarter 2026?
Operating loss was $10.8M (-13.1% of revenue) and net loss $10.3M.
Source: Ibotta 10-Q on SEC EDGAR.