CART
Maplebear Inc.45.57
+0.17+0.37%
Dec 16, 4:00:01 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Q&A dismisses competition, stresses enterprise
Q&A largely reaffirmed prepared remarks on surging momentum, but management dismissed competition from Amazon, DoorDash, and Uber as overblown, crediting enterprise partnerships for resilience amid 14% GTV growth. Chris Rogers highlighted land-and-expand progress like Costco's France/Spain launches and Morrisons Caper Carts pilot, plus price parity traction at Hy-Vee and Raley's. Ads beat expectations via Carrot expansion to 310 partners and off-platform ties with Meta, Pinterest. International stays disciplined with existing tech. Competition? Overblown. Watch enterprise depth and Cart Assistant rollout by Q1 end.
Key Stats
Market Cap
12.00BP/E (TTM)
25.04Basic EPS (TTM)
1.82Dividend Yield
0%Recent Filings
10-K
FY2025 results
Maplebear (Instacart) posted FY2025 net income of $447 million on $3.7 billion revenue, flat from FY2024's $457 million despite 11% GTV growth to $37.2 billion and 15% orders rise to 338.8 million; Q4 holiday surge drove momentum with advertising holding steady at 2.9% of GTV. Gross margin slipped to 74% as cost of revenue outpaced topline, yet Adjusted EBITDA climbed 23% to $1.1 billion (2.9% of GTV). Aggressive $1.3 billion share buybacks trimmed shares 12%, bolstering liquidity at $637 million cash. Shopper classification risks threaten Q4 fulfillment scalability.
8-K
Q4 GTV surges 14%
Maplebear crushed Q4 2025 with GTV up 14% to $9.9B and orders up 16% to 89.5M, its strongest growth in three years, while Adjusted EBITDA rose 20% to $303M despite a $60M FTC settlement hit. Full-year GTV hit $37.2B, up 11%, with $971M operating cash flow fueling $1.4B share repurchases. Q1 2026 guides 11-13% GTV growth. Momentum builds.
8-K
Simo resigns as Chair
Maplebear Inc. accepted Fidji Simo's resignation as Board Chair on November 21, 2025, after her prior CEO exit, with no disagreements cited. The Board appointed Chris Rogers as new Chair on November 24, shrinking from ten to nine directors. Smooth transition complete. Simo praised the company's momentum under Rogers' team.
8-K
Q3 beats, repurchases expanded
Maplebear (Instacart) posted Q3 orders up 14% to 83.4 million and GTV up 10% to $9,170 million, with net income rising 22% to $144 million and Adjusted EBITDA up 22% to $278 million. Board boosted share repurchases to $2.5 billion total, launching $250 million ASR with Goldman Sachs starting November 11. Strong cash flow fuels buybacks.
10-Q
Q3 FY2025 results
Instacart posted Q3 revenue up 10% y/y to $939M, with transaction revenue +10% to $670M and advertising +10% to $269M; gross profit climbed 8% to $692M at 74% margin, while operating income rose 20% to $166M and diluted EPS improved to $0.51 from $0.42 (reconciles to 283M shares). YTD revenue grew 10% to $2.75B, operating income +20% to $401M, and net income +18% to $366M (diluted EPS $1.30 on 282M shares). Cash swelled to $1.7B with $788M operating cash flow; closed Wynshop acquisition in Apr 2025 for $106M cash, adding $74M goodwill and $40M intangibles (10-year life). Free cash flow not disclosed in the 10-Q. Shopper classification litigation persists.
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