Instacart (NASDAQ:CART) released its third-quarter 2026 financial results on October 29, 2026, reporting revenue and profit growth alongside the announcement of a definitive agreement to be acquired by DoorDash, Inc. in a cash-and-stock transaction valued at approximately $17 billion in equity.

Key Highlights

  • Acquisition agreement: Instacart has entered into a definitive agreement to be acquired by DoorDash, Inc. (NASDAQ:DASH) in a cash-and-stock transaction with an equity value of approximately $17 billion.
  • GTV growth: Gross Transaction Value reached $10,528 million in Q3 2026, up 15% year-over-year from $9,170 million.
  • Total revenue: $1,095 million for the quarter ended September 30, 2026, up 17% year-over-year, representing 10.4% of GTV.
  • Adjusted EBITDA: $342 million, up 23% year-over-year, representing 31% of total revenue and 3.2% of GTV.
  • GAAP net income: $147 million, up 2% year-over-year, representing 13% of total revenue.
  • Share repurchases and cash: The company repurchased $230 million in shares and ended the quarter with $1 billion in cash and similar assets.
  • Guidance suspended: Instacart has suspended its financial guidance and withdrawn previously issued long-term guidance, and has cancelled its earnings conference call previously scheduled for November 5, 2026.

Instacart Q3 2026 Results and Pending DoorDash Acquisition

According to the filing, Instacart reported third-quarter 2026 results showing broad-based growth across key metrics for the period ended September 30, 2026. Orders reached 91.4 million, up 10% year-over-year from 83.4 million. Transaction revenue was $764 million, up 14% year-over-year, representing 7.3% of GTV. Advertising and other revenue came in at $331 million, up 23% year-over-year, representing 3.1% of GTV. GAAP gross profit was $786 million, up 14% year-over-year, representing 7.5% of GTV and 72% of total revenue.

The company also disclosed that operating cash flow was $324 million, up 13% year-over-year, and free cash flow was $307 million, up 13% year-over-year. Chris Rogers, CEO, was quoted in the filing as stating: "Q3 was our best quarter as a public company, with GTV up 15% year-over-year and advertising and other revenue up 23% year-over-year." The filing notes that Instacart partners with more than 2,200 retail banners representing nearly 100,000 stores, and that Maplebear Inc. is the registered corporate name of Instacart.

Separately, the filing disclosed that Instacart has entered into a definitive agreement to be acquired by DoorDash, Inc. (NASDAQ:DASH). The filing states that, as is customary during the pendency of such a transaction, Instacart is suspending its financial guidance and has withdrawn previously issued long-term guidance. The filing contains forward-looking statements regarding the proposed acquisition, which the company notes are subject to risks including the completion of the merger within the expected timeframe, regulatory or stockholder approval, and other conditions to closing, among other factors described in the filing.

What Was Disclosed

Instacart reported Q3 2026 financial results for the period ended September 30, 2026, including GTV of $10,528 million, total revenue of $1,095 million, GAAP net income of $147 million, and Adjusted EBITDA of $342 million, alongside a definitive agreement to be acquired by DoorDash at approximately $17 billion in equity value.