Instacart Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	3,742	3,378	3,042	2,551	1,834
Revenue Growth (YoY)	10.78%	11.04%	19.25%	39.09%	24.17%
Cost of Revenue	984	836	764	720	608
Gross Profit	2,758	2,542	2,278	1,831	1,226
Selling, General & Admin	1,610	1,429	2,102	1,248	934
Research & Development	650	580	2,298	517	365
Other Operating Expenses	-	24	24	-	-
Operating Expenses	2,260	2,033	4,424	1,765	1,299
Operating Income	498	509	-2,146	66	-73
Interest & Investment Income	57	66	81	17	2
Currency Exchange Gain (Loss)	-	-3	-	-8	1
Other Non Operating Income (Expenses)	1	-	-	-	-
EBT Excluding Unusual Items	556	572	-2,065	75	-70
Merger & Restructuring Charges	-	-20	4	-4	-10
Legal Settlements	-	-	-	-	11
Other Unusual Items	-	-	-	-	-3
Pretax Income	556	552	-2,061	71	-72
Income Tax Expense	109	95	-439	-357	1
Net Income	447	457	-1,622	428	-73
Preferred Dividends & Other Adjustments	9	9	2	351	-
Net Income to Common	438	448	-1,624	77	-73
Net Income Growth	-2.19%	-	-	-	-
Shares Outstanding (Basic)	261	265	131	72	66
Shares Outstanding (Diluted)	280	289	131	101	66
Shares Change (YoY)	-3.30%	121.38%	28.71%	54.05%	13.71%
EPS (Basic)	1.68	1.69	-12.43	1.07	-1.11
EPS (Diluted)	1.60	1.58	-12.43	0.96	-1.12
EPS Growth	1.15%	-	-	-	-
Free Cash Flow	910	623	532	253	-217
Free Cash Flow Per Share	3.25	2.15	4.07	2.49	-3.29
Gross Margin	73.70%	75.25%	74.89%	71.78%	66.85%
Operating Margin	13.31%	15.07%	-70.55%	2.59%	-3.98%
Profit Margin	11.71%	13.26%	-53.39%	3.02%	-3.98%
Free Cash Flow Margin	24.32%	18.44%	17.49%	9.92%	-11.83%
EBITDA	589	543	-2,108	96	-60
EBITDA Margin	15.74%	16.07%	-69.30%	3.76%	-3.27%
D&A For EBITDA	91	34	38	30	13
EBIT	498	509	-2,146	66	-73
EBIT Margin	13.31%	15.07%	-70.55%	2.59%	-3.98%
Effective Tax Rate	19.60%	17.21%	-	-	-
Advertising Expenses	-	457	388	426	270

Updated Dec 31, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q