Instacart shares rose 15% in after-hours trading on Thursday, lifted by better-than-expected quarterly results and a solid forecast. Q4 revenue reached $992m, above the $974m expected, even as EPS came in at $0.30, down from the $0.52 anticipated. Net income totaled $81m, while adjusted EBITDA reached $303m, also topping market forecasts.
Momentum was notably driven by gross transaction value, up 14% y-o-y to $9.85bn, above the $9.54bn expected, and the highest level in three years. Total orders also beat expectations, reaching 89.5 million. CEO Chris Rogers said the company's technology- and customer-centric approach continues to strengthen the business, both on its marketplace and on its enterprise platform, which is seen as a strategic advantage.
For Q1, Instacart forecast gross transaction value of between $10.13bn and $10.28bn, above consensus. Expected adjusted EBITDA is also above projections, at between $280m and $290m. CFO Emily Reuter highlighted continued growth in the enterprise platform, which added 70 net new retailers in 2025, and pointed to early benefits from investments in artificial intelligence, infrastructure and international expansion, which could become medium-term growth drivers.
Maplebear Inc., doing business as Instacart, is a grocery technology company in North America, works with grocers and retailers to transform how people shop. The Company partners with more than 1,500 national, regional, and local retail banners to facilitate online shopping, delivery and pickup services from more than 85,000 stores across North America on the Instacart Marketplace. The Instacart Platform offers retailers a suite of enterprise-grade technology products and services to power their e-commerce experiences, fulfill orders, digitize brick-and-mortar stores, provide advertising services, and glean insights. With Instacart Ads, thousands of consumer-packaged goods (CPG) brands - from category leaders to emerging brands - partner with the Company to connect directly with consumers online, right at the point of purchase. The Company, through its Instacart Health, provides tools to increase nutrition security and make healthy choices easier for consumers.
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