Key Highlights

  • Shares rose 29.66% to USD 64.92 in regular trading on November 3, 2026.
  • Third quarter 2026 Revenue was USD 97.8 million, up 17% from USD 83.3 million a year earlier.
  • Adjusted EBITDA was USD 23.8 million, up 43%, with a Margin of 24.3%.
  • Fourth quarter revenue guidance is USD 94 million to USD 98 million.
  • Total redemptions rose 40% to 116.4 million.

What Moved the Stock Today (up USD 14.85, 29.66%)

Ibotta (NYSE:IBTA) was up 29.66% to USD 64.92 in regular trading on November 3, 2026, compared with the Monday, November 2, 2026 close. The implied prior close is about USD 50.07 (calculated from the screen figures). The screen showed Volume of 437.3K shares and a Market Capitalisation of about USD 1.5 billion.

The catalyst is the company's third quarter 2026 results, released on November 2, 2026. The company said revenue and adjusted EBITDA both came in above its expectations, and the report showed a clear acceleration in revenue growth.

The Third Quarter Results in Detail

According to a company press release dated November 2, 2026, revenue for the quarter ended September 30, 2026 was USD 97.8 million, up 17% from USD 83.3 million. Redemption revenue was USD 88.5 million, up 23% from USD 72.1 million. Nine month revenue was USD 269.2 million versus USD 253.9 million, up 6%.

Adjusted EBITDA was USD 23.8 million against USD 16.6 million, lifting the margin to 24.3% from 20.0%. The company reported a GAAP net loss of USD 3.5 million, or USD 0.15 per diluted share, compared with Net Income of USD 1.5 million a year earlier. Non-GAAP net income was USD 16.0 million, or USD 0.62 per diluted share, versus USD 0.56. Stock-based compensation was USD 15.4 million.

The chief executive said redemption revenue growth was a direct outcome of improving advertiser offer supply.

Business Background and Operating Metrics

Ibotta runs a performance Marketing platform that lets consumer brands deliver digital offers and Cash Back through retailer and publisher apps and its own app.

Third-party publisher revenue rose 43% to USD 70.7 million, while direct-to-consumer revenue fell 20% to USD 27.2 million. Total redeemers rose 30% to 23.6 million, and redemptions per redeemer reached 4.9 from 4.6. Revenue per redemption fell 13% to USD 0.76. After quarter end, promotions powered by the company went live at 7-Eleven and Speedway and at Festival Foods, following a Giant Eagle launch in the quarter.

Balance Sheet, Guidance and Risks

Cash and equivalents were USD 149.9 million at September 30, 2026, versus USD 186.6 million at December 31, 2025. Third quarter free Cash Flow was USD 16.8 million versus USD 10.6 million. Total liabilities were USD 255.8 million against stockholders' Equity of USD 238.3 million.

The company repurchased 0.4 million shares for USD 14.4 million in the quarter at an average of USD 36.39 per share. For the fourth quarter it guided revenue of USD 94 million to USD 98 million, up 8% at the midpoint, and adjusted EBITDA of USD 15 million to USD 17 million. Falling revenue per redemption and a shrinking direct channel are points the company will need to offset with volume. A gain near 30% in a day can also reverse quickly.

What to Watch Next

Items to follow include the pace of new retail launches such as 7-Eleven, Speedway and 7NOW, and whether publisher redemption growth keeps outrunning the decline in revenue per redemption.

Fourth quarter results, the margin path from the guided range and any change in share repurchases are also worth tracking.