What is Ibotta's net debt?

Ibotta (IBTA) reported net debt of -$139.28M in Q1 2026.

How has Ibotta's net debt changed year-over-year?

Ibotta's net debt increased by 48.8% year-over-year, from -$271.93M to -$139.28M.

What is the long-term trend for Ibotta's net debt?

Over 2 years (2023 to 2025), Ibotta's net debt has grown at a 458.4% compound annual growth rate (CAGR), from $5.16M to -$160.84M.

What does net debt mean?

Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.

Ibotta IBTA Net debt

Discontinued — last reported Q1 '26

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Other financials

Income statement

See full

Revenue$82.5M-2.5%

Gross profit$63.0M-6.6%

Operating income-$10.8M-286%

Net income-$10.3M-1,960%

EPS (diluted)-$0.43-2,250%

Balance sheet

See full

Cash & equivalents$164.6M-44.7%

Total debt$25.3M-1.1%

Total equity$249.0M-38.0%

Total assets$479.9M-24.9%

Cash flow

See full

Operating cash flow$30.4M+52.9%

CapEx$3.1M+62.0%

Free cash flow$27.3M+52.0%

Valuation

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Market cap$744.33M-23.5%

Enterprise value$605.06M-13.6%

P/S2.2×-0.4×

Profitability

See full

Gross margin78.4%-6.2pp

Operating margin-2.6%-5.1pp

Net margin22.9%+19.9pp

FCF margin24.8%-6.0pp

Returns & leverage

See full

Return on equity22.8%+16.9pp

Debt / equity0.1×0.0×

Current ratio1.8×-0.9×

Where this comes from

Calculated from Ibotta’s reported figures.

$25.3Mtotal debt−$164.6Mcash and equivalents=-$139.28M

The official record: Ibotta’s 10-Q, filed May 6, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Ibotta's net debt?: Ibotta (IBTA) reported net debt of -$139.28M in Q1 2026.
How has Ibotta's net debt changed year-over-year?: Ibotta's net debt increased by 48.8% year-over-year, from -$271.93M to -$139.28M.
What is the long-term trend for Ibotta's net debt?: Over 2 years (2023 to 2025), Ibotta's net debt has grown at a 458.4% compound annual growth rate (CAGR), from $5.16M to -$160.84M.
What does net debt mean?: Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.