Ibotta Shares Hit 52-Week High of $66.39 After Third-Quarter Revenue Growth of 17%
Key Facts
Ibotta reported results on November 2 for the third quarter ended September 30, posting revenue of $97.8 million, up 17% year over year, and adjusted EBITDA of $23.8 million, up 43%. The company said revenue and adjusted EBITDA exceeded the high end of its guidance ranges. On its non-GAAP earnings-per-share measure, diluted net income was $0.62 per share, compared with $0.56 a year earlier, an increase of 11%. The announcement coincided with sharp moves in the stock during the week's trading sessions. Shares reached a 52-week high of $66.39 on November 3, according to Stock Charted and EL7 data.
Expansion of the offers network was one driver of the results: gross redemption revenue rose 23% year over year to $88.5 million, which the company said was driven by increased offer supply. The number of offer redeemers in Ibotta's performance network reached 23.6 million in the quarter, compared with 18.2 million in the same period of 2025, an increase of 30%. The company attributed growth in its redeemer base primarily to existing publishers. Redemptions at third-party publishers also rose 57% to 97.6 million, from 62.1 million in the third quarter of the previous year. These figures show broader usage across publishers alongside an increase in offers available to consumers.
Chief Executive and founder Bryan Leach said revenue rose 17% and adjusted EBITDA increased 43% year over year, adding that the redeemer base grew 30% to 23.6 million. He attributed this growth to improved advertiser offer supply, team execution and consumer demand for value. During the quarter, the company launched its offers at Giant Eagle stores. After the quarter ended, Ibotta-powered offers became available through the 7-Eleven and Speedway apps. These launches expand the reach of the company's offers through retailer apps.
By contrast, diluted net income per share under the non-GAAP measure rose to $0.62 from $0.56. This divergence places growth in revenue and adjusted earnings alongside a different quarterly accounting result. It also distinguishes adjusted earnings per share from the net result reported under accounting standards. Interpretation of the figures remains tied to the specific measure the company presents for each result.
The stock moved from a close of $50.07 on November 2 to $60.35 on November 3, then closed at $63.03 on November 4. On November 5, the closing price fell to $57.85 before ending the November 6 session at $58.11. The stock recorded a session high of $60.21 on November 6, while its 52-week high had been reached on November 3 at $66.39. Data for the latest session showed a daily gain of 0.45% and trading volume of 424.3 thousand shares. The close therefore remained below the week's post-announcement peak.
Ibotta forecast fourth-quarter 2026 revenue of between $94 and $98 million, equivalent to 8% year-over-year growth at the midpoint of the range. The company estimated adjusted EBITDA for the period at between $15 and $17 million. On commercial expansion, it said the 7NOW app is expected to join 7-Eleven and Speedway. The company expects redemption activity to rise gradually over the coming quarters. These projections set the next-quarter revenue target alongside the expansion of its offers across retail partners.