Ibotta (IBTA) Gross Margin (2023 - 2026)
Ibotta (IBTA) posted Gross Margin of 76.42% for Q1 2026, down 2.84% on a QoQ basis from 78.65% in Q4 2025, and down 337.0% year-over-year from 32.24% in Q1 2025.
Ibotta (IBTA) Gross Margin (2023 - 2026) Analysis & Trends
Ibotta's Gross Margin history runs 4 years deep, the most recent figure standing at 76.42% for Q1 2026.
- Quarterly Gross Margin fell 337.0% year-over-year to 76.42% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 78.43% (down 623.0% YoY) and the FY2025 annual result came in at 79.25%, down 711.0% from the prior year.
- Gross Margin was 76.42% for Q1 2026 at Ibotta, down from 78.65% in the prior quarter.
- Across five years, Gross Margin topped out at 87.66% in Q3 2024 and bottomed at 76.42% in Q1 2026.
- A 4-year average of 83.23% and a median of 84.6% in 2024 frame the typical range for Gross Margin.
- Annual changes were most pronounced in 2024 — Gross Margin soared 673 bps — and 2025, when it sank 825 bps.
- Ibotta's Gross Margin stood at 87.64% in 2023, then retreated by 3 bps to 84.6% in 2024, then fell by 7 bps to 78.65% in 2025, then retreated by 3 bps to 76.42% in 2026.
- Business Quant data shows IBTA's Gross Margin at 76.42% in Q1 2026, 78.65% in Q4 2025, and 79.41% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Sap Se | 208.91 Bn | 189.27 Bn | 8.16 Bn | 72.98% |
| 2 | Full Truck Alliance | 188.77 Bn | 186.13 Bn | - | - |
| 3 | Shopify | 145.98 Bn | 140.23 Bn | 1.55 Bn | 48.77% |
| 4 | Uber Technologies | 141.48 Bn | 140.44 Bn | 5.95 Bn | 45.03% |
| 5 | Salesforce | 128.51 Bn | 116.67 Bn | 8.56 Bn | 76.92% |
| 6 | ServiceNow | 98.38 Bn | 93.20 Bn | 2.82 Bn | 70.68% |
| 7 | Automatic Data Processing | 97.56 Bn | 94.34 Bn | 2.87 Bn | 48.28% |
| 8 | Snowflake | 91.55 Bn | 88.59 Bn | 926.45 Mn | 66.61% |
| 9 | Cadence Design Systems | 89.91 Bn | 88.50 Bn | 1.41 Bn | 95.85% |
| 10 | Ibotta | 633.81 Mn | 469.21 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% |