InstaCart CART
Public, NASDAQ, reports in USD. Founded 2012.
Theme: Internet.
Food Delivery.
2025-08-01 — Never profitable
Financials millions, USD
| Period | Revenue | Growth % | Gross margin % | R&D % | Operating income | Operating margin % | Net income | EPS (diluted) | Rule of 40 | basis |
|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | 3.7bn USD | 10.8 % | 73.7 % | 17.4 % | 498m USD | 13.3 % | 447m USD | 1.60 | 24.1 | |
| 2024 | 3.4bn USD | 11.0 % | 75.3 % | 17.9 % | 489m USD | 14.5 % | 457m USD | 1.58 | 25.5 | |
| 2023 | 3.0bn USD | 19.2 % | 74.9 % | 76.0 % | -2.1bn USD | -70.4 % | -1.6bn USD | -12.43 | -51.2 | |
| 2022 | 2.6bn USD | – | 71.8 % | 20.3 % | 62m USD | 2.4 % | 428m USD | 0.28 | – | |
| 2026-Q2 | 1.0bn USD | 14.1 % | 72.0 % | 19.4 % | 144m USD | 13.8 % | 111m USD | 0.45 | 27.9 | |
| 2026-Q1 | 1.0bn USD | – | 72.4 % | 16.1 % | 182m USD | 17.9 % | 144m USD | 0.57 | – | |
| 2025-Q4 | 992m USD | – | 72.3 % | 17.2 % | 98m USD | 9.9 % | 81m USD | 0.30 | – | |
| 2025-Q3 | 939m USD | – | 73.7 % | 18.0 % | 168m USD | 17.9 % | 144m USD | 0.51 | – | |
| 2025-Q2 | 914m USD | – | 74.2 % | 18.2 % | 123m USD | 13.5 % | 116m USD | 0.41 | – |
Sources
- 2025: yfinance
- 2024: yfinance
- 2023: 2025_10-K_Summary_2026-07-10.xlsx
- 2022: 2025_10-K_Summary_2026-07-10.xlsx
- 2026-Q2: yfinance
- 2026-Q1: yfinance
- 2025-Q4: yfinance
- 2025-Q3: yfinance
- 2025-Q2: yfinance
Latest quarter 2026-Q2, ended 2026-06-30, vs 2025-Q2
| 2026-Q2 | 2025-Q2 | change | |
|---|---|---|---|
| Revenue | 1.0bn USD | 914m USD | +129m (+14 %) |
| Op. margin | 13.8 % | 13.5 % | +0.3 pts |
| FCF | 481m USD | 187m USD | +294m (+157 %) |
| Op. income | 144m USD | ||
| Net income | 111m USD | ||
| EPS (diluted) | 0.45 | 9.8 % |
Cash flow millions, USD
| Period | Cash from operations | Capex | Free cash flow | FCF margin % | CFO / net income % | NOPAT | Unlevered FCF | Levered FCF | Net change in cash |
|---|---|---|---|---|---|---|---|---|---|
| 2025 | 971m USD | 61m USD | 910m USD | 24.3 % | 217.2 % | 400m USD | 377m USD | – | -626m USD |
| 2024 | 687m USD | 64m USD | 623m USD | 18.4 % | 150.3 % | 405m USD | 189m USD | – | -833m USD |
| 2023 | 586m USD | 54m USD | 532m USD | 17.5 % | – | – | – | – | 691m USD |
| 2022 | 277m USD | 24m USD | 253m USD | 9.9 % | 64.7 % | – | – | – | 440m USD |
NOPAT = op. income × (1 − effective tax rate); UFCF = NOPAT + D&A + ΔNWC − capex; LFCF = FCF + net debt issued.
Quotes
| Price | 47.23 USD | 2026-09-15 | |
|---|---|---|---|
| Market cap | 10.9bn USD | 2026-09-15 | |
| 52w high | 52.68 USD | 2026-09-15 | |
| 52w low | 32.73 USD | 2026-09-15 | |
| EV/EBITDA | -4.0 | 2026-07-10 (stale) | |
| Off 52w high % | -10.3 % | ||
| P/S | 2.9 | ||
| Lifetime CAGR | 9.7 % |
Notes
- 2025-08-01 opinion Never profitable