Instacart says Q2 2026 revenue rises 14% as advertising growth outpaces GTV

Instacart posted 14% GTV growth to $10.35 billion in Q2 2026, driven by monthly customer gains and 9% order growth to 90 million.

Total revenue rose 14% to $1.04 billion; advertising and other revenue increased 16% to $297 million, outpacing GTV growth.

Average order value rose 4% to $115, supported by deeper engagement and stronger mix from club retailers, which tend to drive larger baskets.

Adjusted EBITDA increased 19% to $313 million; operating cash flow jumped to $493 million, mainly from accounts receivable collections.

Management pointed to improved fulfillment quality, inventory intelligence investment, broader no-markup retailer adoption, and an AI assistant rollout to support growth.