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Ibotta vs Fluent: IBTA and FLNT compared
Ibotta is the larger company: $97.8M of revenue in its latest quarter (Q3 2026) against $48.4M for Fluent (Q2 2026). Ibotta is growing faster (+18% against +8% a year earlier). Ibotta is more profitable, with an operating margin of 4.8% against -10.2%.
Where the money goes: IBTA and FLNT
Ibotta (IBTA) · Q3 2026
Ibotta, Q3 2026: revenue $97.8M (+18% year over year), operating margin 4.8%, net loss $3.5M, operating cash flow $22.0M. The chart follows the revenue to costs, profit and cash.
Fluent (FLNT) · Q2 2026
Fluent, Q2 2026: revenue $48.4M (+8% year over year), operating margin -10.2%, net loss $6.2M, operating cash flow −$4.8M. The chart follows the revenue to costs, profit and cash.
| Ibotta (IBTA) | Fluent (FLNT) | |
|---|---|---|
| Latest quarter | Q3 2026 | Q2 2026 |
| Revenue | $97.8M | $48.4M |
| Revenue growth, Y/Y | +18% | +8% |
| Operating margin | 4.8% | -10.2% |
| Net earnings | −$3.5M | −$6.2M |
| Net margin | -3.6% | -12.7% |
| Operating cash flow | $22.0M | −$4.8M |
| Free cash flow | $16.8M | — |
Where the revenue comes from
Ibotta
- Redemption revenue: $88.5M (91%)
- Ad & other revenue: $9.3M (9%)
Questions
Which is bigger, Ibotta or Fluent?
Ibotta is the larger company: $97.8M of revenue in its latest quarter (Q3 2026) against $48.4M for Fluent (Q2 2026).
Is Ibotta or Fluent growing faster?
Ibotta is growing faster (+18% against +8% a year earlier).
Which is more profitable, Ibotta or Fluent?
Ibotta is more profitable, with an operating margin of 4.8% against -10.2%.
More: Ibotta earnings · how Ibotta makes money · Fluent earnings · how Fluent makes money
From the companies' latest 10-Q, 10-K or earnings release (10-Q filed Nov 3, 2026; 10-Q filed Aug 13, 2026). Fiscal quarters can end on different dates. Not investment advice.