Ibotta (IBTA)
Market Price (11/3/2026): $54.83 | Market Cap: $1.1 BilSector: Information Technology | Industry: Application Software
Ibotta (IBTA)
Market Price (11/3/2026): $54.83Market Cap: $1.1 BilSector: Information TechnologyIndustry: Application Software
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -11% Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 27%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 17% Attractive yieldFCF Yield is 5.0% Megatrend and thematic driversMegatrends include Digital Advertising, Fintech & Digital Payments, and E-commerce & Digital Retail. Themes include Ad-Tech Platforms, Show more. | Trading close to highsDist 52W High is 0.0% Weak multi-year price returns2Y Excs Rtn is -64%, 3Y Excs Rtn is -134% Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 12% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -12 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -3.5% Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -6.6% Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 14% Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 60% Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -5.1% Key risksIBTA key risks include [1] a class-action lawsuit over IPO disclosures following the loss of its major Kroger contract, Show more. |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -11% |
| Attractive cash flow generationCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 27%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 17% |
| Attractive yieldFCF Yield is 5.0% |
| Megatrend and thematic driversMegatrends include Digital Advertising, Fintech & Digital Payments, and E-commerce & Digital Retail. Themes include Ad-Tech Platforms, Show more. |
| Trading close to highsDist 52W High is 0.0% |
| Weak multi-year price returns2Y Excs Rtn is -64%, 3Y Excs Rtn is -134% |
| Meaningful short interestShort Interest % of Basic SharesShort Interest % of Basic Shares = (Short Interest Quantity) / (Basic Shares Outstanding). A high fraction of short interest can indicate potential risk of a short squeeze. is 12% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -12 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -3.5% |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -6.6% |
| Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 14% |
| Valuation getting more expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is 60% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -5.1% |
| Key risksIBTA key risks include [1] a class-action lawsuit over IPO disclosures following the loss of its major Kroger contract, Show more. |
Qualitative Assessment
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Ibotta (IBTA) stock has gained about 110% since 7/31/2026 because of the following key factors:
1. Strong Performance in Fiscal Q2 2026 Exceeding Guidance.
Ibotta's stock experienced an initial surge following its fiscal Q2 2026 earnings report on August 3, 2026, which substantially exceeded management's guidance. The company reported revenue of $88.9 million, a 3% year-over-year increase, signaling a return to top-line growth one quarter ahead of schedule. Redemption revenue notably grew by 10% year-over-year to $80.2 million, marking its fastest growth since fiscal Q3 2024, driven by an increase in advertiser offer supply. Adjusted EBITDA reached $16.5 million, representing an 18.6% margin. This strong performance led to a +51.91% increase in the stock price the day after the announcement.
2. Exceptional Fiscal Q3 2026 Results with Significant Earnings Beat.
The positive trend was further propelled by Ibotta's fiscal Q3 2026 earnings, reported on November 2, 2026 (for the quarter ended September 30, 2026, as Ibotta's fiscal year ends December 31st), where the company significantly surpassed analyst expectations. Ibotta reported earnings per share (EPS) of $0.62, considerably higher than the consensus estimate of $0.13. Total revenue increased by 17% year-over-year to $97.8 million, exceeding the upper end of guidance for both revenue and adjusted EBITDA. Adjusted EBITDA rose 43% year-over-year to $23.8 million, achieving a 24.3% margin. This marked the fourth consecutive quarter of surpassing top and bottom-line guidance, leading to a 12.5% jump in the stock price on the day of the report.
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Ibotta (IBTA) stock has gained about 110% since 7/31/2026 because of the following key factors:
1. Strong Performance in Fiscal Q2 2026 Exceeding Guidance.
Ibotta's stock experienced an initial surge following its fiscal Q2 2026 earnings report on August 3, 2026, which substantially exceeded management's guidance. The company reported revenue of $88.9 million, a 3% year-over-year increase, signaling a return to top-line growth one quarter ahead of schedule. Redemption revenue notably grew by 10% year-over-year to $80.2 million, marking its fastest growth since fiscal Q3 2024, driven by an increase in advertiser offer supply. Adjusted EBITDA reached $16.5 million, representing an 18.6% margin. This strong performance led to a +51.91% increase in the stock price the day after the announcement.
2. Exceptional Fiscal Q3 2026 Results with Significant Earnings Beat.
The positive trend was further propelled by Ibotta's fiscal Q3 2026 earnings, reported on November 2, 2026 (for the quarter ended September 30, 2026, as Ibotta's fiscal year ends December 31st), where the company significantly surpassed analyst expectations. Ibotta reported earnings per share (EPS) of $0.62, considerably higher than the consensus estimate of $0.13. Total revenue increased by 17% year-over-year to $97.8 million, exceeding the upper end of guidance for both revenue and adjusted EBITDA. Adjusted EBITDA rose 43% year-over-year to $23.8 million, achieving a 24.3% margin. This marked the fourth consecutive quarter of surpassing top and bottom-line guidance, leading to a 12.5% jump in the stock price on the day of the report.
3. Accelerated Growth and Expansion of the Ibotta Performance Network (IPN).
A core driver of Ibotta's stock appreciation was the accelerated growth and expanding reach of its Ibotta Performance Network (IPN), demonstrating increased offer supply and consumer engagement. In fiscal Q2 2026, the IPN saw its redeemer base grow 21% year-over-year to 20.9 million. This momentum continued into fiscal Q3 2026, with the redeemer base expanding 30% year-over-year to an all-time high of 23.6 million. Third-party publisher redemption revenue surged 43% year-over-year to $70.7 million in fiscal Q3 2026, significantly contributing to overall growth and demonstrating successful expansion with new partners like Giant Eagle and 7-Eleven.
4. Upgrades and Raised Price Targets from Key Analysts.
The strong financial and operational performance translated into increased confidence from the analyst community, resulting in multiple upgrades and raised price targets. Following the fiscal Q3 2026 results, Goldman Sachs upgraded Ibotta's rating from "Sell" to "Neutral" and increased its price target from $35 to $58, citing improved platform execution. Other firms, including Wells Fargo, Evercore ISI, and Needham, also raised their price targets to $49, $58, and $65 respectively, reflecting an optimistic outlook on Ibotta's fundamentals, third-party engagement, and consistent performance above guidance.
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Stock Movement Drivers
Fundamental Drivers
The 108.6% change in IBTA stock from 7/31/2026 to 11/2/2026 was primarily driven by a 99.5% change in the company's P/S Multiple.| (LTM values as of) | 7312026 | 11022026 | Change |
|---|---|---|---|
| Stock Price ($) | 24.00 | 50.07 | 108.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 340 | 343 | 0.8% |
| P/S Multiple | 1.7 | 3.4 | 99.5% |
| Shares Outstanding (Mil) | 24 | 23 | 3.7% |
| Cumulative Contribution | 108.6% |
Market Drivers
7/31/2026 to 11/2/2026| Return | Correlation | |
|---|---|---|
| IBTA | 108.6% | |
| Market (SPY) | 0.7% | 36.2% |
| Sector (XLK) | -0.6% | 32.1% |
Fundamental Drivers
The 42.2% change in IBTA stock from 4/30/2026 to 11/2/2026 was primarily driven by a 25.9% change in the company's P/S Multiple.| (LTM values as of) | 4302026 | 11022026 | Change |
|---|---|---|---|
| Stock Price ($) | 35.20 | 50.07 | 42.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 342 | 343 | 0.2% |
| P/S Multiple | 2.7 | 3.4 | 25.9% |
| Shares Outstanding (Mil) | 26 | 23 | 12.7% |
| Cumulative Contribution | 42.2% |
Market Drivers
4/30/2026 to 11/2/2026| Return | Correlation | |
|---|---|---|
| IBTA | 42.2% | |
| Market (SPY) | 4.9% | 19.3% |
| Sector (XLK) | 9.4% | 10.4% |
Fundamental Drivers
The 55.2% change in IBTA stock from 10/31/2025 to 11/2/2026 was primarily driven by a 35.9% change in the company's P/S Multiple.| (LTM values as of) | 10312025 | 11022026 | Change |
|---|---|---|---|
| Stock Price ($) | 32.26 | 50.07 | 55.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 368 | 343 | -6.6% |
| P/S Multiple | 2.5 | 3.4 | 35.9% |
| Shares Outstanding (Mil) | 28 | 23 | 22.3% |
| Cumulative Contribution | 55.2% |
Market Drivers
10/31/2025 to 11/2/2026| Return | Correlation | |
|---|---|---|
| IBTA | 55.2% | |
| Market (SPY) | 11.2% | 18.8% |
| Sector (XLK) | 16.3% | 13.6% |
Fundamental Drivers
nullnull
Market Drivers
10/31/2023 to 11/2/2026| Return | Correlation | |
|---|---|---|
| IBTA | ||
| Market (SPY) | 86.0% | 23.5% |
| Sector (XLK) | 116.2% | 20.2% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| IBTA Return | - | - | - | -37% | -65% | 120% | -52% |
| Peers Return | -38% | -63% | 61% | 31% | -26% | -25% | -74% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 10% | 101% |
Monthly Win Rates [3] | |||||||
| IBTA Win Rate | - | - | - | 22% | 50% | 64% | |
| Peers Win Rate | 35% | 32% | 60% | 52% | 42% | 39% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 36% | |
Max Drawdowns [4] | |||||||
| IBTA Max Drawdown | - | - | - | - | -72% | -35% | |
| Peers Max Drawdown | -58% | -74% | -45% | -47% | -62% | -52% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: GRPN, CDLX, TTD, RAMP, DSP.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 11/2/2026 (YTD)
How Low Can It Go
| Event | IBTA | S&P 500 |
|---|---|---|
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -36.8% | -7.8% |
| % Gain to Breakeven | 58.2% | 8.5% |
| Time to Breakeven | 61 days | 18 days |
In The Past
Ibotta's stock fell -36.8% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 58.2% gain to breakeven.
Preserve Wealth
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Asset Allocation
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| Event | IBTA | S&P 500 |
|---|---|---|
| 2024 Yen Carry Trade Unwind | ||
| % Loss | -36.8% | -7.8% |
| % Gain to Breakeven | 58.2% | 8.5% |
| Time to Breakeven | 61 days | 18 days |
In The Past
Ibotta's stock fell -36.8% during the 2024 Yen Carry Trade Unwind. Such a loss loss requires a 58.2% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Ibotta (IBTA)
Ibotta (IBTA) operates the Ibotta Performance Network (IPN), a technology platform designed to connect consumer packaged goods (CPG) brands with over 200 million consumers through digital, item-level promotions. The company pioneers a success-based marketing model, earning revenue only when a promotion directly results in a sale, not merely from views or clicks. At its core, Ibotta utilizes an AI-enabled offer engine that leverages extensive item-level purchase data from integrations with 85 different retailers. This data allows for personalized savings experiences, matching the right offers to individual consumers at optimal times to help CPG brands achieve specific marketing goals like driving sales, encouraging brand switching, or incentivizing stocking up.
Ibotta’s network reaches consumers primarily through two channels: major retailer loyalty programs and its own widely used Ibotta direct-to-consumer (D2C) app and website. The company forms strategic, white-label partnerships with leading retailers such as Walmart and Dollar General, where Ibotta's offers power their loyalty programs (e.g., Walmart Cash), often on an exclusive basis like its multi-year deal with Walmart U.S. Simultaneously, the Ibotta D2C app serves millions of savings-conscious consumers directly. Ibotta’s primary customers are CPG brands who pay for these promotional services, while retailers benefit from a trusted partner providing a large universe of offers and plug-and-play capabilities. The company generates most of its revenue from redemption fees but also earns from ad products on its D2C properties and data licensing.
AI Analysis | Feedback
Ibotta is like Rakuten, but specifically for item-level cash back on groceries and everyday products, often powering the loyalty programs of major retailers like Walmart.
Alternatively, think of Ibotta as a Google Ads for CPG brands, but instead of clicks, brands pay only when consumers redeem a digital coupon and purchase a specific product, with offers distributed across a network including Walmart's app.
AI Analysis | Feedback
Ibotta (IBTA) provides the following major services:
- Ibotta Performance Network (IPN): A platform enabling CPG brands to create and distribute success-based digital item-level promotions across a vast network of retailer loyalty programs and Ibotta's consumer-facing properties.
- AI-Powered Promotional Analytics & Data Insights: Provides CPG brands with AI-driven tools for personalized offer targeting, campaign management, performance tracking, and aggregated consumer purchase data licensing.
- Ibotta Direct-to-Consumer (D2C) Channels: Consumer-facing mobile app, website, and browser extension offering cash back rewards, which also function as an advertising platform for CPG brands and online retailers.
AI Analysis | Feedback
Ibotta (IBTA) sells primarily to other companies (B2B).
Its major customers are:
- CPG Brands: A vast number of individual Consumer Packaged Goods (CPG) brands serve as direct clients, making up over 850 different companies representing more than 2,400 distinct CPG brands as of December 31, 2023. These brands are the primary source of Ibotta's redemption revenue, paying for success-based digital promotions and also purchasing advertising products on Ibotta's platforms.
- Retailers: Several major retailers are strategic partners and customers, integrating Ibotta's offers into their loyalty programs, serving as publishers, and also purchasing advertising products and data licenses from Ibotta. Specific named retailer customers and partners include:
- Walmart Inc. (WMT)
- Dollar General Corporation (DG)
- Dollar Tree, Inc. (DLTR) (as the parent company of Family Dollar, a partner)
- Kroger (KR)
- Shell plc (SHEL)
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Bryan Leach, Founder & Chief Executive Officer
Bryan Leach founded Ibotta in 2012 and led the company to become publicly traded in 2024, marking the largest tech IPO in Colorado history. Before establishing Ibotta, he was a partner at Bartlit Beck LLP and served as a law clerk for former US Supreme Court Justice David Souter.
Matt Puckett, Chief Financial Officer
Matt Puckett joined Ibotta in 2025 to oversee financial strategy, operations, and investor relations. He previously served as the CFO of VF Corporation for 23 years, where he managed corporate finance, investor relations, financial planning, and mergers and acquisitions.
David Shapiro, Chief Legal Officer
David Shapiro joined Ibotta in 2024, where he is responsible for the company's legal strategy, risk management, and corporate governance. Prior to Ibotta, he was Executive Vice President and General Counsel at Vail Resorts for eight years, and before that, he spent seven years at DaVita Inc. as Chief Compliance Officer and General Counsel.
Marisa Daspit, Chief People Officer
Marisa Daspit has served as Ibotta's Chief People Officer since joining the company in 2018. Her background includes a decade of experience in designing and leading talent management programs within the healthcare industry.
Amir El Tabib, Chief Business Development Officer
Amir El Tabib joined Ibotta in 2016 and was instrumental in developing the company's retail partnerships and affiliate program, as well as building the Ibotta Performance Network. Before his time at Ibotta, he worked in investment banking and private equity.
AI Analysis | Feedback
The key risks to Ibotta’s business include a significant reliance on key strategic partnerships, particularly with Walmart, and a dependency on the marketing budgets of CPG brands and the subsequent redemption of offers by consumers. The company also faces inherent data privacy and security risks due to the large volume of consumer data it handles.
- Reliance on Key Strategic Partnerships, Especially Walmart: Ibotta's growth and profitability are significantly tied to its strategic relationships with major retailers, most notably Walmart. Ibotta is the exclusive provider of digital item-level rebate offer content for Walmart U.S., covering all product categories for online and offline shopping. The background explicitly states that "All CPG brands wishing to run digital item-level rebates on Walmart’s website can only do so through the IPN." This partnership has driven significant acceleration in Ibotta's revenue, scale, and profitability. A disruption or termination of this exclusive, multi-year relationship, or a decision by Walmart to develop its own competing in-house solution, would have a substantial negative impact on Ibotta's business.
- Dependency on CPG Brand Marketing Budgets and Offer Redemptions: Ibotta operates on a "success-based marketing" model, meaning it primarily generates revenue when a client's promotion results in a sale. Redemption revenue constituted 76% of total revenue in 2023. This makes Ibotta's financial performance heavily dependent on the willingness of CPG brands to allocate marketing budgets to digital promotions and the consistent redemption of these offers by consumers. Factors such as economic downturns, shifts in CPG marketing strategies, increased competition, or declining consumer engagement with offers could lead to reduced offer redemptions and a subsequent decrease in Ibotta's revenue.
- Data Privacy and Security Risks: Ibotta processes a substantial volume of item-level purchase data through its secure point-of-sale integrations with numerous retailers to build consumer profiles and deliver personalized offers. This extensive collection and use of sensitive consumer data expose the company to significant data privacy and cybersecurity risks. Any data breach, cybersecurity attack, or failure to comply with evolving data protection regulations could result in reputational damage, legal liabilities, regulatory fines, and a loss of trust from consumers and partner retailers.
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AI Analysis | Feedback
Ibotta operates in the following addressable markets:
- U.S. Grocery Sector: U.S. consumers spent approximately $1.2 trillion dollars in the grocery sector in 2023.
- U.S. CPG Marketing Spend: CPG brands spend approximately $200 billion on marketing annually in the United States.
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Ibotta (IBTA) is expected to drive future revenue growth over the next 2-3 years through several key strategies centered on expanding its network, enhancing its performance marketing capabilities, and deepening client relationships.
- Expansion of the Ibotta Performance Network (IPN) through new publisher partnerships: Ibotta is actively growing its network by integrating with new third-party publishers, such as the launches with DoorDash in the second quarter of 2025 and Instacart in November 2024. This expansion, along with organic growth from existing publishers, is a primary driver of increased redeemers and broader reach for CPG brand offers. The company anticipates extending the IPN to other new verticals, including delivery services, banks, or other apps and websites that aim to provide consumers with access to popular item offers.
- Increased adoption and growth of LiveLift and advanced performance marketing capabilities: Ibotta is focusing on enhancing its core product and rolling out LiveLift, a next-generation capability designed to revolutionize promotions in the consumer packaged goods industry. LiveLift aims to set clearer campaign goals, improve incremental sales, and enhance profitability metrics for clients. The strong reception of LiveLift, with 80% of clients expected to expand or renew their campaigns, indicates its potential to drive increased client investment and improved campaign optimization, thereby boosting revenue.
- Enhancing the core product and offer content to drive redeemer growth and engagement: A crucial driver of revenue is the continued growth in the number of redeemers and their engagement with offers. Ibotta has seen a 19% year-over-year increase in total redeemers in Q4 2025. The company is committed to improving the quantity and quality of offer content on its network to both increase the overall number of redeemers and enhance redemptions per redeemer, making the platform more attractive to CPG brands seeking to influence purchase behavior.
- Deepening strategic relationships with existing major retailers and CPG brands: Ibotta plans to leverage its existing strong partnerships, such as the exclusive provider agreement with Walmart U.S. for digital item-level rebate content. The company also aims to encourage its over 850 direct clients, representing more than 2,400 CPG brands, to increase their spend. By providing proven return on investment through its success-based marketing model and integrating third-party sales lift measurement (e.g., with Circana and ABCS Insights), Ibotta facilitates increased client investment and long-term retention.
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Share Repurchases
- Ibotta authorized a share repurchase program of $300 million in August 2024.
- On March 11, 2026, the company's Board of Directors approved an additional $100 million increase to the share repurchase program, bringing the total authorization to $400 million.
- Ibotta repurchased 6.9 million shares for $233.8 million in 2025, at an average price of $34.04 per share.
Share Issuance
- Ibotta completed its Initial Public Offering (IPO) on April 18, 2024, listing on the NYSE under the symbol IBTA.
- In the IPO, Ibotta issued and sold 2,500,000 shares of Class A common stock at $88.00 per share, resulting in net proceeds of $198.0 million.
- The IPO, including shares sold by existing stockholders, raised a total of $577.3 million and valued Ibotta at $2.7 billion.
Inbound Investments
- As of December 31, 2023, Ibotta had booked fair market value investment of $237.1 million from investors including Clark Jermoluk Founders Fund, KDT Ibotta Holdings, and Walmart.
- Walmart holds at least a 5% stake in Ibotta.
Outbound Investments
- In 2021, Ibotta acquired OctoShop (originally InStok), a shopping browser extension company.
Capital Expenditures
- Ibotta invested $20.3 million in capital expenditures during fiscal year 2025, primarily to fund long-term assets and infrastructure.
- In the fourth quarter of 2025, capital expenditures totaled $7.5 million.
Peer Outperformance in Application Software
null| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Electronic Manufacturing Services | 10 | 18.4% | 110.0% | 198.4% | FLEX 551% · TTMI 451% · JBL 333% |
| Technology Distributors | 9 | 43.9% | 68.0% | 73.2% | AVT 146% · SNX 117% · CNXN 94% |
| Semiconductor Materials & Equipment | 28 | 37.3% | 61.0% | 45.7% | AXTI 464% · LRCX 317% · KLAC 313% |
| Electronic Components | 26 | -0.6% | 66.1% | 34.6% | CLS 2294% · BELFA 1195% · APH 329% |
| Communications Equipment | 36 | 2.5% | 73.5% | 32.6% | AAOI 695% · LITE 689% · ANET 434% |
| Semiconductors | 55 | 0.0% | 44.4% | 7.7% | MU 1107% · NVDA 669% · AVGO 555% |
| Electronic Equipment & Instruments | 27 | -4.1% | 24.7% | 3.5% | PI 139% · OSIS 114% · MIR 70% |
| Internet Services & Infrastructure | 6 | 1.5% | 45.7% | -10.1% | GDDY 73% · VRSN 39% · DOCN -3% |
| Technology Hardware, Storage & Peripherals | 21 | -3.4% | 85.5% | -12.0% | WDC 727% · SMCI 721% · DELL 693% |
| IT Consulting & Other Services | 30 | -24.8% | -3.5% | -25.0% | APLD 269% · IBM 152% · ADEA 142% |
| Application Software ← | 125 | -15.8% | -9.8% | -54.8% | PLTR 588% · FROG 159% · AGYS 148% |
| Systems Software | 70 | -12.3% | 22.2% | -56.2% | CRWD 261% · ZETA 243% · CVLT 145% |
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Ibotta Stock Pre-Market (+20%) : Q4 Revenue Beat & Stronger Q1 Guidance | 02/26/2026 | |
| Would You Still Hold Ibotta Stock If It Fell Another 30%? | 10/17/2025 | |
| IBTA Dip Buy Analysis | 07/10/2025 | |
| Ibotta (IBTA) Valuation Ratios Comparison | 05/15/2025 | |
| Ibotta (IBTA) Operating Cash Flow Comparison | 02/17/2025 | |
| Ibotta (IBTA) Net Income Comparison | 02/15/2025 | |
| Ibotta (IBTA) Operating Income Comparison | 02/15/2025 | |
| Ibotta (IBTA) Revenue Comparison | 02/13/2025 | |
| ARTICLES | ||
| Market Movers | Winners: AMIX, ADGM, IBTA | Losers: NXTT, AHCO, BETR | 08/05/2026 | |
| Ibotta Stock Pre-Market (+20%) : Q4 Revenue Beat & Stronger Q1 Guidance | 02/26/2026 | |
| Stocks Trading At 52-Week Low | 11/25/2025 |
Research & Analysis
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 12.97 |
| Mkt Cap | 0.6 |
| Rev LTM | 388 |
| Op Inc LTM | 8 |
| FCF LTM | 48 |
| FCF 3Y Avg | 41 |
| CFO LTM | 67 |
| CFO 3Y Avg | 56 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 2.0% |
| Rev Chg 3Y Avg | 8.6% |
| Rev Chg Q | 3.0% |
| QoQ Delta Rev Chg LTM | 0.7% |
| Op Inc Chg LTM | 45.9% |
| Op Inc Chg 3Y Avg | 67.0% |
| Op Mgn LTM | 1.5% |
| Op Mgn 3Y Avg | 2.2% |
| QoQ Delta Op Mgn LTM | -0.7% |
| CFO/Rev LTM | 17.3% |
| CFO/Rev 3Y Avg | 17.2% |
| FCF/Rev LTM | 12.3% |
| FCF/Rev 3Y Avg | 11.5% |
Price Behavior
| Market Price | $50.07 | |
| Market Cap ($ Bil) | 1.2 | |
| First Trading Date | 04/18/2024 | |
| Distance from 52W High | 0.0% | |
| 50 Days | 200 Days | |
| DMA Price | $42.48 | $32.99 |
| DMA Trend | up | up |
| Distance from DMA | 17.9% | 51.8% |
| 3M | 1YR | |
| Volatility | 45.6% | 82.1% |
| Downside Capture | -4.21 | 51.33 |
| Upside Capture | 194.06 | 98.22 |
| Correlation (S&P 500) | 13.3% | 19.3% |
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 0.64 | 0.18 | 3.81 | 1.46 | 1.22 | 0.22 |
| Up Beta | -4.75 | -2.38 | 12.14 | 4.72 | 2.08 | 0.53 |
| Down Beta | 1.41 | 0.69 | 0.27 | 1.31 | 1.78 | 0.26 |
| Up Capture | 267% | 140% | 529% | 80% | 89% | 39% |
| Bmk +ve Days | 12 | 18 | 28 | 62 | 130 | 427 |
| Stock +ve Days | 12 | 23 | 37 | 64 | 126 | 318 |
| Down Capture | -93% | -97% | 2% | 3% | 58% | 106% |
| Bmk -ve Days | 10 | 25 | 36 | 64 | 121 | 325 |
| Stock -ve Days | 10 | 20 | 27 | 62 | 124 | 316 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with IBTA | |
|---|---|---|---|---|
| IBTA | 55.8% | 82.1% | 0.85 | - |
| Sector ETF (XLK) | 16.5% | 27.2% | 0.53 | 13.6% |
| Equity (SPY) | 11.6% | 12.8% | 0.57 | 18.8% |
| Gold (GLD) | -2.3% | 28.6% | -0.09 | 2.2% |
| Commodities (DBC) | 43.1% | 20.9% | 1.60 | -14.8% |
| Real Estate (VNQ) | 11.0% | 13.7% | 0.50 | 17.8% |
| Bitcoin (BTCUSD) | -28.8% | 43.6% | -0.66 | 8.0% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with IBTA | |
|---|---|---|---|---|
| IBTA | -13.2% | 77.6% | -0.01 | - |
| Sector ETF (XLK) | 17.9% | 26.1% | 0.61 | 20.1% |
| Equity (SPY) | 12.0% | 17.1% | 0.52 | 23.5% |
| Gold (GLD) | 16.5% | 19.0% | 0.69 | 6.6% |
| Commodities (DBC) | 8.4% | 19.6% | 0.31 | -2.9% |
| Real Estate (VNQ) | 1.1% | 18.9% | -0.05 | 19.1% |
| Bitcoin (BTCUSD) | 4.1% | 51.6% | 0.26 | 14.5% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with IBTA | |
|---|---|---|---|---|
| IBTA | -6.9% | 77.6% | -0.01 | - |
| Sector ETF (XLK) | 23.3% | 25.2% | 0.84 | 20.1% |
| Equity (SPY) | 15.2% | 17.9% | 0.72 | 23.5% |
| Gold (GLD) | 11.6% | 16.5% | 0.57 | 6.6% |
| Commodities (DBC) | 7.8% | 18.1% | 0.34 | -2.9% |
| Real Estate (VNQ) | 5.4% | 20.7% | 0.22 | 19.1% |
| Bitcoin (BTCUSD) | 61.7% | 66.3% | 1.01 | 14.5% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 11/2/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/3/2026 | 51.9% | 47.2% | 51.6% |
| 5/6/2026 | -0.6% | -12.7% | -11.2% |
| 2/25/2026 | -0.2% | 24.8% | 41.9% |
| 11/12/2025 | 5.3% | -19.4% | -31.2% |
| 8/13/2025 | -30.3% | -19.0% | -21.4% |
| 5/14/2025 | 20.2% | 5.5% | -16.9% |
| 2/26/2025 | -2.0% | -47.8% | -32.0% |
| 11/13/2024 | -2.1% | -16.3% | -3.9% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 3 | 3 | 2 |
| # Negative | 7 | 7 | 8 |
| Median Positive | 20.2% | 24.8% | 46.8% |
| Median Negative | -2.1% | -19.0% | -19.2% |
| Max Positive | 51.9% | 47.2% | 51.6% |
| Max Negative | -30.3% | -47.8% | -32.0% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 8/3/2026 | 51.9% | 47.2% | 51.6% |
| 5/6/2026 | -0.6% | -12.7% | -11.2% |
| 2/25/2026 | -0.2% | 24.8% | 41.9% |
| 11/12/2025 | 5.3% | -19.4% | -31.2% |
| 8/13/2025 | -30.3% | -19.0% | -21.4% |
| 5/14/2025 | 20.2% | 5.5% | -16.9% |
| 2/26/2025 | -2.0% | -47.8% | -32.0% |
| 11/13/2024 | -2.1% | -16.3% | -3.9% |
| 8/13/2024 | -26.7% | -12.6% | -3.5% |
| 5/30/2024 | -7.3% | -25.8% | -31.6% |
| SUMMARY STATS | |||
| # Positive | 3 | 3 | 2 |
| # Negative | 7 | 7 | 8 |
| Median Positive | 20.2% | 24.8% | 46.8% |
| Median Negative | -2.1% | -19.0% | -19.2% |
| Max Positive | 51.9% | 47.2% | 51.6% |
| Max Negative | -30.3% | -47.8% | -32.0% |
Recent Forward Guidance
Updated 11/2/2026Latest: Q3 2026 Earnings Reported 11/2/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q4 2026 Revenue | Reported | 94.00 Mil | 96.00 Mil | 98.00 Mil | 9.1% | Higher New | Guidance: 88.00 Mil for Q3 2026 | |
| Q4 2026 Revenue Growth | Reported | 8.0% | ||||||
| Q4 2026 Adjusted EBITDA | Reported | 15.00 Mil | 16.00 Mil | 17.00 Mil | 23.1% | Higher New | Guidance: 13.00 Mil for Q3 2026 | |
| Q4 2026 Adjusted EBITDA Margin | Reported | 16.7% | ||||||
Prior: Q2 2026 Earnings Reported 8/3/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q3 2026 Revenue | Reported | 86.00 Mil | 88.00 Mil | 90.00 Mil | 4.8% | Higher New | Guidance: 84.00 Mil for Q2 2026 | |
| Q3 2026 Adjusted EBITDA | Reported | 12.00 Mil | 13.00 Mil | 14.00 Mil | 23.8% | Higher New | Guidance: 10.50 Mil for Q2 2026 | |
Q1 2026 Earnings Reported 5/6/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q2 2026 Revenue | Reported | 82.00 Mil | 84.00 Mil | 86.00 Mil | 5.0% | Higher New | Guidance: 80.00 Mil for Q1 2026 | |
| Q2 2026 Adjusted EBITDA | Reported | 9.00 Mil | 10.50 Mil | 12.00 Mil | 50.0% | Higher New | Guidance: 7.00 Mil for Q1 2026 | |
Q4 2025 Earnings Reported 2/25/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| Q1 2026 Revenue | Reported | 78.00 Mil | 80.00 Mil | 82.00 Mil | -3.0% | Lower New | Guidance: 82.50 Mil for Q4 2025 | |
| Q1 2026 Adjusted EBITDA | Reported | 6.00 Mil | 7.00 Mil | 8.00 Mil | -33.3% | Lower New | Guidance: 10.50 Mil for Q4 2025 | |
Insider Activity
Updated 11/2/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Daspit, Marisa | CHIEF PEOPLE OFFICER | Direct | Sell | 11022026 | 50.08 | 102 | 5,108 | 5,822,634 | Form |
| 2 | Daspit, Marisa | CHIEF PEOPLE OFFICER | Direct | Sell | 11022026 | 50.00 | 144 | 7,200 | 5,818,434 | Form |
| 3 | Daspit, Marisa | CHIEF PEOPLE OFFICER | Direct | Sell | 10232026 | 50.15 | 499 | 25,027 | 5,843,192 | Form |
| 4 | Swanson, Luke Roy | CHIEF TECHNOLOGY OFFICER | Direct | Sell | 10232026 | 49.97 | 3,695 | 184,654 | 21,550,395 | Form |
| 5 | Swanson, Luke Roy | CHIEF TECHNOLOGY OFFICER | See footnote | Sell | 10232026 | 49.96 | 3,484 | 174,056 | 11,309,800 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Daspit, Marisa | CHIEF PEOPLE OFFICER | Direct | Sell | 11022026 | 50.08 | 102 | 5,108 | 5,822,634 | Form |
| 2 | Daspit, Marisa | CHIEF PEOPLE OFFICER | Direct | Sell | 11022026 | 50.00 | 144 | 7,200 | 5,818,434 | Form |
| 3 | Daspit, Marisa | CHIEF PEOPLE OFFICER | Direct | Sell | 10232026 | 50.15 | 499 | 25,027 | 5,843,192 | Form |
| 4 | Swanson, Luke Roy | CHIEF TECHNOLOGY OFFICER | Direct | Sell | 10232026 | 49.97 | 3,695 | 184,654 | 21,550,395 | Form |
| 5 | Swanson, Luke Roy | CHIEF TECHNOLOGY OFFICER | See footnote | Sell | 10232026 | 49.96 | 3,484 | 174,056 | 11,309,800 | Form |
| 6 | Leach, Bryan | CEO AND PRESIDENT | Direct | Sell | 10232026 | 49.42 | 36,753 | 1,816,237 | 40,714,290 | Form |
| 7 | Leach, Bryan | CEO AND PRESIDENT | See footnote | Sell | 10232026 | 49.42 | 13,146 | Form | ||
| 8 | Daspit, Marisa | CHIEF PEOPLE OFFICER | Direct | Sell | 10232026 | 50.00 | 247 | 12,350 | 5,850,200 | Form |
| 9 | Swanson, Luke Roy | CHIEF TECHNOLOGY OFFICER | Direct | Sell | 10232026 | 49.92 | 8,764 | 437,502 | 21,711,780 | Form |
| 10 | Swanson, Luke Roy | CHIEF TECHNOLOGY OFFICER | See footnote | Sell | 10232026 | 49.91 | 9,075 | 452,964 | 11,473,444 | Form |
| 11 | Leach, Bryan | CEO AND PRESIDENT | Direct | Sell | 10212026 | 47.87 | 23,327 | 1,116,592 | 39,436,881 | Form |
| 12 | Leach, Bryan | CEO AND PRESIDENT | See footnote | Sell | 10212026 | 47.87 | 8,344 | Form | ||
| 13 | Leach, Bryan | CEO AND PRESIDENT | Direct | Sell | 10212026 | 47.29 | 23,123 | 1,093,569 | 38,964,500 | Form |
| 14 | Leach, Bryan | CEO AND PRESIDENT | See footnote | Sell | 10212026 | 47.29 | 8,270 | Form | ||
| 15 | Leach, Bryan | CEO AND PRESIDENT | Direct | Sell | 10072026 | 41.57 | 5,030 | 209,076 | 34,245,481 | Form |
| 16 | Leach, Bryan | CEO AND PRESIDENT | Direct | Sell | 10072026 | 41.36 | 10,112 | 418,228 | 34,075,599 | Form |
| 17 | Swanson, Luke Roy | CHIEF TECHNOLOGY OFFICER | Direct | Sell | 10052026 | 39.79 | 5,940 | 236,378 | 17,656,391 | Form |
| 18 | Swanson, Luke Roy | CHIEF TECHNOLOGY OFFICER | See footnote | Sell | 10052026 | 39.79 | 5,940 | 236,378 | 9,508,532 | Form |
| 19 | Leach, Bryan | CEO AND PRESIDENT | Direct | Sell | 9232026 | 41.31 | 1,724 | 71,223 | 34,036,674 | Form |
| 20 | Leach, Bryan | CEO AND PRESIDENT | Direct | Sell | 9232026 | 41.34 | 13,418 | 554,759 | 34,063,072 | Form |
| 21 | Swanson, Luke Roy | CHIEF TECHNOLOGY OFFICER | Direct | Sell | 9142026 | 40.04 | 20,100 | 804,856 | 17,860,281 | Form |
| 22 | Swanson, Luke Roy | CHIEF TECHNOLOGY OFFICER | See footnote | Sell | 9142026 | 40.04 | 20,100 | 804,868 | 8,088,719 | Form |
| 23 | Leach, Bryan | CEO AND PRESIDENT | Direct | Sell | 9102026 | 37.74 | 5,103 | 192,563 | 31,089,585 | Form |
| 24 | Leach, Bryan | CEO AND PRESIDENT | Direct | Sell | 9102026 | 37.70 | 34,000 | 1,281,909 | 31,255,550 | Form |
| 25 | Daspit, Marisa | CHIEF PEOPLE OFFICER | Direct | Sell | 9032026 | 37.46 | 2,956 | 110,725 | 4,391,968 | Form |
| 26 | Swanson, Luke Roy | CHIEF TECHNOLOGY OFFICER | Direct | Sell | 9032026 | 36.96 | 5,940 | 219,568 | 17,230,208 | Form |
| 27 | Swanson, Luke Roy | CHIEF TECHNOLOGY OFFICER | See footnote | Sell | 9032026 | 36.98 | 5,940 | 219,633 | 9,664,647 | Form |
| 28 | Daspit, Marisa | CHIEF PEOPLE OFFICER | Direct | Sell | 9032026 | 37.01 | 1,712 | 63,354 | 4,448,352 | Form |
| 29 | Leach, Bryan | CEO AND PRESIDENT | Direct | Sell | 8192026 | 36.60 | 877 | 32,099 | 31,713,661 | Form |
| 30 | Leach, Bryan | CEO AND PRESIDENT | Direct | Sell | 8192026 | 35.85 | 28,907 | 1,036,389 | 31,065,629 | Form |
| 31 | Leach, Bryan | CEO AND PRESIDENT | See footnote | Sell | 8192026 | 36.23 | 5,832 | Form | ||
| 32 | Lehrman, Thomas D | Direct | Sell | 8172026 | 37.37 | 15,926 | 595,183 | 1,424,612 | Form | |
| 33 | Lehrman, Thomas D | See footnote | Sell | 8172026 | 37.28 | 14,347 | 534,824 | 614,710 | Form | |
| 34 | Lehrman, Thomas D | Direct | Sell | 8132026 | 36.19 | 4,692 | 169,804 | 1,955,936 | Form | |
| 35 | Lehrman, Thomas D | See footnote | Sell | 8132026 | 36.08 | 8,154 | 294,207 | 797,937 | Form | |
| 36 | Lehrman, Thomas D | Direct | Sell | 8132026 | 35.73 | 10,000 | 357,322 | 2,098,838 | Form | |
| 37 | Lehrman, Thomas D | See footnote | Sell | 8132026 | 36.22 | 19,561 | 708,534 | 916,845 | Form | |
| 38 | Swanson, Luke Roy | CHIEF TECHNOLOGY OFFICER | Direct | Sell | 8112026 | 39.91 | 200 | 7,981 | 19,304,602 | Form |
| 39 | Swanson, Luke Roy | CHIEF TECHNOLOGY OFFICER | See footnote | Sell | 8112026 | 39.90 | 600 | 23,941 | 8,203,783 | Form |
| 40 | Leach, Bryan | CEO AND PRESIDENT | Direct | Sell | 8052026 | 36.14 | 57,132 | 2,064,893 | 31,316,897 | Form |
| 41 | Leach, Bryan | CEO AND PRESIDENT | See footnote | Sell | 8052026 | 36.14 | 22,756 | Form | ||
| 42 | Leach, Bryan | CEO AND PRESIDENT | Direct | Sell | 8052026 | 24.43 | 15,142 | 369,966 | 21,170,885 | Form |
| 43 | Swanson, Luke Roy | CHIEF TECHNOLOGY OFFICER | Direct | Sell | 8052026 | 24.47 | 5,940 | 145,362 | 11,843,409 | Form |
| 44 | Swanson, Luke Roy | CHIEF TECHNOLOGY OFFICER | See footnote | Sell | 8052026 | 24.46 | 5,940 | 145,267 | 6,542,443 | Form |
| 45 | Leach, Bryan | CEO AND PRESIDENT | Direct | Sell | 7222026 | 31.83 | 1,050 | 33,420 | 27,578,626 | Form |
| 46 | Leach, Bryan | CEO AND PRESIDENT | Direct | Sell | 7222026 | 31.82 | 14,092 | 448,435 | 27,573,236 | Form |
| 47 | Leach, Bryan | CEO AND PRESIDENT | Direct | Sell | 7082026 | 33.09 | 9,326 | 308,572 | 28,669,608 | Form |
| 48 | Leach, Bryan | CEO AND PRESIDENT | See footnote | Sell | 7082026 | 35.07 | 76 | Form | ||
| 49 | Clark, Jermoluk Founders Fund I Llc | Direct | Sell | 7082026 | 30.15 | 500,000 | 15,075,000 | 100,740,436 | Form | |
| 50 | Leach, Bryan | CEO AND PRESIDENT | Direct | Sell | 7062026 | 35.32 | 6,061 | 214,070 | 30,603,601 | Form |
| 51 | Leach, Bryan | CEO AND PRESIDENT | See footnote | Sell | 7062026 | 35.32 | 2,188 | Form | ||
| 52 | Leach, Bryan | CEO AND PRESIDENT | Direct | Sell | 7062026 | 35.16 | 15,834 | 556,763 | 30,467,744 | Form |
| 53 | Leach, Bryan | CEO AND PRESIDENT | See footnote | Sell | 7062026 | 35.16 | 4,148 | Form | ||
| 54 | Swanson, Luke Roy | CHIEF TECHNOLOGY OFFICER | Direct | Sell | 7062026 | 35.14 | 5,940 | 208,719 | 17,214,164 | Form |
| 55 | Swanson, Luke Roy | CHIEF TECHNOLOGY OFFICER | See footnote | Sell | 7062026 | 35.14 | 5,940 | 208,719 | 9,608,876 | Form |
| 56 | Leach, Bryan | CEO AND PRESIDENT | Direct | Sell | 6242026 | 30.31 | 3,955 | 119,894 | 26,267,116 | Form |
| 57 | Leach, Bryan | CEO AND PRESIDENT | Direct | Sell | 6242026 | 30.56 | 11,187 | 341,896 | 26,481,397 | Form |
| 58 | Leach, Bryan | CEO AND PRESIDENT | Direct | Sell | 6102026 | 31.96 | 4,748 | 151,733 | 29,288,262 | Form |
| 59 | Leach, Bryan | CEO AND PRESIDENT | Direct | Sell | 6102026 | 32.12 | 10,406 | 334,255 | 29,438,760 | Form |
| 60 | Swanson, Luke Roy | CHIEF TECHNOLOGY OFFICER | Direct | Sell | 6082026 | 32.98 | 5,940 | 195,887 | 16,351,740 | Form |
| 61 | Swanson, Luke Roy | CHIEF TECHNOLOGY OFFICER | See footnote | Sell | 6082026 | 32.98 | 5,940 | 195,886 | 9,213,981 | Form |
| 62 | Lehrman, Thomas D | See footnote | Sell | 5192026 | 32.11 | 19,788 | 635,320 | 1,058,899 | Form | |
| 63 | Lehrman, Thomas D | Direct | Sell | 5192026 | 30.79 | 26,000 | 800,609 | 1,932,238 | Form | |
| 64 | Lehrman, Thomas D | See footnote | Sell | 5192026 | 30.78 | 30,119 | 927,018 | 1,254,039 | Form | |
| 65 | Lehrman, Thomas D | Direct | Sell | 5152026 | 32.37 | 12,663 | 409,872 | 2,872,630 | Form | |
| 66 | Lehrman, Thomas D | See footnote | Sell | 5152026 | 32.37 | 19,720 | 638,256 | 1,701,023 | Form | |
| 67 | Lehrman, Thomas D | Direct | Sell | 5132026 | 33.61 | 4,862 | 163,397 | 3,408,177 | Form | |
| 68 | Lehrman, Thomas D | See footnote | Sell | 5132026 | 32.91 | 10,992 | 361,702 | 1,983,867 | Form | |
| 69 | Lehrman, Thomas D | Direct | Sell | 5132026 | 33.52 | 10,000 | 335,171 | 3,562,030 | Form | |
| 70 | Daspit, Marisa | CHIEF PEOPLE OFFICER | Direct | Sell | 3092026 | 24.06 | 2,956 | 71,121 | 3,069,984 | Form |
| 71 | Riedy, Christopher J | Chief Revenue Officer | Direct | Buy | 1122026 | 0.00 | 276,041 | Form | ||
| 72 | Clark, Jermoluk Founders Fund I Llc | See footnote | Sell | 12182025 | 88.00 | 11,363 | 999,944 | 48,999,984 | Form | |
| 73 | Daspit, Marisa | CHIEF PEOPLE OFFICER | Direct | Sell | 12092025 | 23.54 | 10 | 235 | 1,129,520 | Form |
Investor Activity (13F)
Updated Nov 3, 2026Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
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