By Josh Beckerman
Shares of Ibotta fell in post-market trading after earnings results came in below guidance and the digital promotions company said it expects softness to affect earnings in the current quarter.
The stock slid fell 38% to $39.49 after hours on Wednesday. Through the close of market trading the stock is down about 10% in the last three months
Ibotta's revenue declined 1% to $98.4 million in the fourth quarter. That missed the $100 million to $106 million the company said it expected on Nov. 13.
The Denver-based company said it expects first-quarter revenue of $80 million to $84 million, missing the $91 million estimate of analysts surveyed by FactSet.
Chief Executive Bryan Leach said on the company's earnings call that Ibotta hasn't secured enough offer supply from consumer packaged goods companies relative to the rapid growth of redeemers across its network. Due to the current economic climate, some CPG companies have reduced spending on marketing, Leach said.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
February 26, 2025 19:04 ET (00:04 GMT)
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