Ibotta (IBTA) Gross Margin (2023 - 2026)
Ibotta (IBTA) reported Gross Margin of 76.42% for Q1 2026, down 337.0% on a YoY basis from 32.24% in Q1 2025, and down 2.84% quarter-over-quarter from 78.65% in Q4 2025.
Ibotta (IBTA) Gross Margin (2023 - 2026) Analysis & Trends
Ibotta has reported Gross Margin for 4 years, with the latest figure at 76.42% in Q1 2026.
- For the quarter ending Q1 2026, Gross Margin fell 337.0% year-over-year to 76.42%; the trailing twelve-month figure through Mar 2026 stood at 78.43% (down 623.0% YoY), and the FY2025 full-year result was 79.25%, down 711.0% from the prior year.
- Gross Margin for Q1 2026 stood at 76.42%, down from 78.65% in the prior quarter.
- The five-year high for Gross Margin was 87.66% in Q3 2024, with the low at 76.42% in Q1 2026.
- Historically, Gross Margin has averaged 83.23% across 4 years, with a median of 84.6% in 2024.
- Annual changes were most pronounced in 2024 — Gross Margin soared 673 bps — and 2025, when it slumped 825 bps.
- Ibotta's Gross Margin stood at 87.64% in 2023, then declined by 3 bps to 84.6% in 2024, then dropped by 7 bps to 78.65% in 2025, then declined by 3 bps to 76.42% in 2026.
- The last three Gross Margin figures came in at 76.42% (Q1 2026), 78.65% (Q4 2025), and 79.41% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Sap Se | 238.14 Bn | 220.17 Bn | 8.16 Bn | 72.98% |
| 2 | Full Truck Alliance | 166.83 Bn | 164.28 Bn | - | - |
| 3 | Uber Technologies | 150.36 Bn | 149.32 Bn | 11.88 Bn | 89.96% |
| 4 | Shopify | 147.75 Bn | 142.01 Bn | 1.55 Bn | 48.77% |
| 5 | Salesforce | 140.39 Bn | 128.55 Bn | 8.56 Bn | 76.92% |
| 6 | Cadence Design Systems | 105.73 Bn | 104.32 Bn | 1.26 Bn | 85.65% |
| 7 | ServiceNow | 105.42 Bn | 100.24 Bn | 2.83 Bn | 75.07% |
| 8 | Automatic Data Processing | 89.57 Bn | 86.34 Bn | 2.87 Bn | 48.28% |
| 9 | Adobe | 85.05 Bn | 78.16 Bn | 5.90 Bn | 89.20% |
| 10 | Ibotta | 777.95 Mn | 613.36 Mn | 63.03 Mn | 76.42% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 76.42% |
| Dec 31, 2025 | 78.65% |
| Sep 30, 2025 | 79.41% |
| Jun 30, 2025 | 79.16% |
| Mar 31, 2025 | 79.79% |
| Dec 31, 2024 | 84.60% |
| Sep 30, 2024 | 87.66% |
| Jun 30, 2024 | 86.03% |
| Mar 31, 2024 | 87.23% |
| Dec 31, 2023 | 87.64% |
| Sep 30, 2023 | 87.36% |
| Jun 30, 2023 | 87.54% |
| Mar 31, 2023 | 80.50% |