Shares of Ibotta Inc (IBTA) plummeted 24.14% in after-hours trading on Wednesday following the release of its second quarter 2025 financial results and disappointing third-quarter guidance. The sharp decline reflects investor concerns over the company's revenue performance and future outlook.

For the second quarter, Ibotta reported revenue of $86 million, representing a 2% year-over-year decline and falling short of the analyst consensus estimate of $90.52 million. Despite the revenue miss, the company managed to post an adjusted earnings per share (EPS) of $0.49, surpassing the analyst expectations of $0.19. However, this still marks a decrease from the same period last year.

The most significant factor contributing to the stock's after-hours plunge appears to be Ibotta's weak guidance for the third quarter of 2025. The company projects Q3 revenue between $79.0 million and $85.0 million, which represents a year-over-year decrease of 17% at the midpoint. This outlook falls considerably short of the consensus estimate of $101.8 million, raising concerns about Ibotta's growth trajectory. Additionally, the company expects Q3 Adjusted EBITDA to be between $9.5 million and $13.5 million, with a margin of 14% at the midpoint.