Instacart Tops $10B GTV, Sees 14% Revenue Growth and $144M Net Income
Instacart reported first-quarter GTV of $10.288 billion, up 13% year-over-year, and total revenue of $1.019 billion, up 14%, marking its first quarter above $10 billion in GTV and over $1 billion in revenue. GAAP net income rose 36% to $144 million and adjusted EBITDA climbed 23% to $300 million, driven by stronger advertising revenue.
1. Q1 Financial Results
Instacart delivered GTV of $10.288 billion, up 13% year-over-year, driven by 91.2 million orders, and achieved $1.019 billion in revenue, up 14%. GAAP net income rose 36% to $144 million while adjusted EBITDA climbed 23% to $300 million, demonstrating rising profitability across its platform.
2. Cash Flow and Returns
Operating cash flow reached $268 million with free cash flow of $253 million, and the company repurchased $349 million in shares, ending the quarter with approximately $880 million in cash and equivalent assets.
3. Strategic Growth Initiatives
Instacart expanded its platform through deeper retailer partnerships—becoming the exclusive online fulfillment partner for ALDI U.S.—acquired Instaleap to accelerate international enterprise expansion, and launched AI-driven solutions like Cart Assistant and an Anthropic Claude integration to enhance the consumer experience.