Instacart Q2 revenue rises 15% to $823 million; GAAP net income falls to $61 million
Instacart (Maplebear Inc.) reported second-quarter 2024 results on August 6, 2024, with total revenue of $823 million, up 15% year-over-year, and adjusted EBITDA of $208 million, up 89%. GAAP net income fell $53 million to $61 million, which the company attributes mainly to higher stock-based compensation after its September 2023 IPO. The company also gave third-quarter adjusted EBITDA guidance of $205 million to $215 million and authorized a new $500 million buyback.
Key points
- Total revenue of $823 million, up 15% year-over-year; GTV of $8,194 million, up 10%
- GAAP net income of $61 million, down $53 million year-over-year, mainly due to higher stock-based compensation
- Adjusted EBITDA of $208 million, above the $180 million to $190 million guidance range
- Q3 2024 outlook: GTV of $8,100 million to $8,250 million and adjusted EBITDA of $205 million to $215 million; new $500 million buyback program
The filing
Written by AI on Nov 8, 2026, 1:12 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on August 06, 2024.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.