Instacart Cash Flow 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
Net Income	447	457	-1,622	428	-73
Depreciation & Amortization	99	67	57	47	27
Stock-Based Compensation	352	300	2,756	33	22
Other Adjustments	111	82	-416	-355	12
Change in Receivables	-121	-185	-33	-21	-318
Changes in Accounts Payable	-11	8	-16	25	36
Changes in Accrued Expenses	100	42	-62	141	102
Changes in Unearned Revenue	10	4	18	24	47
Changes in Other Operating Activities	-39	-88	-72	-45	-59
Operating Cash Flow	948	687	610	277	-204
Operating Cash Flow Growth	37.99%	12.62%	120.22%	-	-
Capital Expenditures	-	-	-	-24	-13
Purchases of Intangible Assets	-	-	-	-	-9
Purchases of Investments	-	-	-	-158	-623
Proceeds from Sale of Investments	-	-	-	394	369
Payments for Business Acquisitions	-	-	-	-93	-54
Other Investing Activities	-	-	-	-2	-
Investing Cash Flow	-	-	-	117	-330
Issuance of Common Stock	-	-	-	49	199
Net Common Stock Issued (Repurchased)	-	-	-	49	199
Issuance of Preferred Stock	-	-	-	-	265
Net Preferred Stock Issued (Repurchased)	-	-	-	-	265
Other Financing Activities	-	-	-	-3	-
Financing Cash Flow	-	-	-	46	464
Effect of Exchange Rate Changes on Cash and Cash Equivalents	-	-	-	-6	-1
Net Cash Flow	948	687	610	434	-71
Free Cash Flow	948	687	610	253	-217
Free Cash Flow Growth	37.99%	12.62%	141.11%	-	-
FCF Margin	25.33%	20.34%	20.05%	9.92%	-11.83%
Free Cash Flow Per Share	3.39	2.38	4.67	2.49	-3.29
Levered Free Cash Flow	597	481	-1,699	245	67
Unlevered Free Cash Flow	559.37	437.84	-1,761	541.75	52.81

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q