On or about April 18, 2024, Ibotta conducted its initial public offering of over 7.5 million shares at a price of $88 per share.

Then, on August 14, 2024 after the market closed, the Company issued a press release reporting second quarter financial results for the period ending June 30, 2024. The second quarter results included a net loss of $34 million attributable to operating expenses that more than doubled year-over-year. Additionally, Ibotta reported a 19% decline in direct-to-consumer redemptions and a 7% decline in direct-to-consumer redeemers on a year-over-year basis.

Following this news, the price of Ibotta stock fell $15.53 per share, over 26%, to close at $42.66 per share on August 14, 2024.

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