Maplebear Inc. Reports Strong 2025 Financials, $2.5B Share Repurchase Program, and Key Leadership Changes
CART sits 17% above its 52-week low of $32.73.
Summary
Maplebear Inc. (Instacart) filed its annual 10-K report, detailing robust 2025 financial performance with increased GTV and Adjusted EBITDA, a significant $2.5 billion share repurchase authorization, and a change in CEO and Board Chair.
Key Events · Earnings and Guidance · CART
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Strong Full Year 2025 Financial Results
The company reported 2025 revenue of $3.74 billion (up 11% year-over-year), GTV of $37.22 billion (up 11%), and Adjusted EBITDA of $1.09 billion (up 23%). Net income for 2025 was $447 million, a slight decrease from $457 million in 2024.
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Expanded Share Repurchase Program
The board of directors increased the share repurchase authorization to $2.5 billion in November 2025. During 2025, the company repurchased and retired 32.8 million shares for an aggregate of $1.35 billion, with $671 million remaining under the program as of December 31, 2025.
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Acquisition of Wynshop
On April 30, 2025, Maplebear Inc. acquired Marlin9 Holdings, Inc. (Wynshop), a provider of e-commerce retail solutions, for $106 million in cash, enhancing its offerings for retail partners.
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FTC Investigation Settlement
The company agreed to a consent order with the FTC in July 2025, finalized in January 2026, to pay $60 million related to certain marketing and Instacart+ membership program practices. The payment was included in accrued liabilities as of December 31, 2025, and paid in January 2026.
Analysis · CART · Trade & Services
Maplebear Inc. (Instacart) filed its comprehensive annual 10-K report, confirming robust financial performance for 2025, following the preliminary results announced on February 12, 2026. The report details significant growth in Gross Transaction Value (GTV) and Adjusted EBITDA, alongside a substantial increase in its share repurchase authorization. Key corporate developments, including a material acquisition and the resolution of an FTC investigation, are also outlined, providing a complete picture of the company's operational and strategic direction.
At the time of this filing, CART was trading at $38.43 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $10.1B. The 52-week trading range was $32.73 to $53.50. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.