Ibotta (IBTA) reported Q1 adjusted net income late Wednesday of $0.36 per diluted share, down from $0.54 a year earlier.

Four analysts polled by FactSet expected $0.21.

Revenue for the quarter ended March 31 was $84.6 million, up from $82.3 million. Analysts surveyed by FactSet expected $82.1 million.

For Q2, the company expects revenue of $86.5 million to $92.5 million. Analysts polled by FactSet expect $89.2 million.

Shares were up more than 9.6% in recent after-hours activity.