Instacart Q1 orders rise 14% and revenue 9%, but GAAP net income falls to $106 million
Maplebear Inc. (Instacart) reported first-quarter 2025 results on May 1, 2025, with orders up 14% year-over-year to 83.2 million, GTV up 10% to $9,122 million, and total revenue up 9% to $897 million. GAAP net income fell $24 million year-over-year to $106 million, while Adjusted EBITDA rose 23% to $244 million, and the company guided second-quarter GTV to $8,850 million to $9,000 million and Adjusted EBITDA to $240 million to $250 million. For shareholders, revenue and Adjusted EBITDA grew, but GAAP profit declined, and the company repurchased $94 million of shares in the quarter.
Key points
- Q1 2025 orders of 83.2 million, up 14% year-over-year; GTV of $9,122 million, up 10%
- Total revenue of $897 million, up 9%; advertising and other revenue of $247 million, up 14%
- GAAP net income of $106 million, down $24 million year-over-year; Adjusted EBITDA of $244 million, up 23%
- Q2 2025 outlook: GTV of $8,850 million to $9,000 million and Adjusted EBITDA of $240 million to $250 million
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 May 01, 2025.
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.