Ibotta, Inc. (IBTA) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon and welcome to Ibotta's Q2 2026 earnings conference call. With us today are Bryan Leach, founder and CEO, and Matt Puckett, CFO. Today's press release and this call contain forward-looking statements. Forward-looking statements include statements about our future operating results, our guidance for Q3 2026, our ability to grow our revenue, Thank you. Thank you for joining us. Reconciliations to the most comparable gap measures are available in our earnings press release, our 10Q to be filed this week, and our Q2 2026 earnings presentation, which are all available on our investor relations website at investors.ibata.com. Unless otherwise noted, revenue and adjusted EBITDA comparisons to prior periods are provided on a year-over-year basis. With that, I'll turn it over to Bryan. Thank you and good afternoon, everyone. I'm pleased to report that in the second quarter, Ibotta delivered top and bottom line financial results that exceeded the high end of our guidance range. And importantly, we've returned to year-over-year revenue growth a full quarter ahead of our expectations. Thank you for watching. In Q2, redemption revenue grew by 10% year over year, marking our fastest pace of growth in this core part of our business since the third quarter of 2024. Third party redemption revenue grew 27% year over year. This growth corresponded to the continued growth in our Redeemer base. We achieved year-over-year redeemer growth of 21% in the quarter. This represents our fastest rate of expansion since Q2 of 2025, at a time when our metrics were benefiting from the launch of our Instacart and DoorDash partnerships. What's most exciting about these results is that we're driving this redeemer velocity efficiently across a significantly larger network footprint, which...