Ibotta, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2024
May 31, 2024 at 03:50 pm IST
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Ibotta, Inc. reported earnings results for the first quarter ended March 31, 2024. For the first quarter, the company reported sales was USD 82.33 million compared to USD 57.69 million a year ago. Net income was USD 9.3 million compared to net loss of USD 4.28 million a year ago.
Basic earnings per share from continuing operations was USD 1 compared to basic loss per share from continuing operations of USD 0.49 a year ago. Diluted earnings per share from continuing operations was USD 0.33 compared to diluted loss per share from continuing operations of USD 0.49 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. 
