Ibotta, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2024
August 13, 2024 at 09:17 pm
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Ibotta, Inc. reported earnings results for the second quarter and six months ended June 30, 2024. For the second quarter, the company reported sales was USD 87.93 million compared to USD 77.39 million a year ago. Net loss was USD 33.97 million compared to net income of USD 15.34 million a year ago. Basic loss per share from continuing operations was USD 1.32 compared to basic earnings per share from continuing operations of USD 1.73 a year ago. Diluted loss per share from continuing operations was USD 1.32 compared to diluted earnings per share from continuing operations of USD 0.58 a year ago.
For the six months, sales was USD 170.25 million compared to USD 135.08 million a year ago. Net loss was USD 24.67 million compared to net income of USD 11.06 million a year ago. Basic loss per share from continuing operations was USD 1.41 compared to basic earnings per share from continuing operations of USD 1.25 a year ago. Diluted loss per share from continuing operations was USD 1.41 compared to diluted earnings per share from continuing operations of USD 0.42 a year ago.
Ibotta, Inc. is a technology company that allows consumer packaged goods (CPG) brands to deliver digital promotions to consumers through a single network called the Ibotta Performance Network (IPN). The Company provides promotional services to publishers, retailers, and advertisers through the IPN, which includes its direct-to-consumer mobile, Web, and browser extension properties and its network of third-party publisher properties. Most of the Company's offers cover products in non-discretionary categories, such as grocery and also works with general merchandise manufacturers in categories, such as toys, clothing, beauty, electronics, pet, home goods, and sporting goods. In addition to providing digital offers for retailers, it also makes the same offers available on its own digital properties, Ibotta D2C. Its technology platform uses an artificial intelligence (AI)-enabled offer engine that is designed to match and distribute the right offer to the right consumer at the right time.
IBOTTA, INC. 