Overview

• Grocery technology firm's Q4 revenue beat analyst expectations, EPS missed

• Company repurchased $1.4 bln in shares, including $1.1 bln in Q4

• Q4 GTV grew 14% yr/yr, driven by 16% increase in orders

• Instacart sees affordability as a key barrier to online grocery adoption

Outlook

• Instacart expects Q1'26 GTV between $10.125 bln and $10.275 bln

• Company anticipates Q1'26 Adjusted EBITDA growth between 15% to 19%

Result Drivers

• GTV GROWTH - Instacart's Q4 GTV grew 14% year-over-year, driven by a 16% increase in orders

• AFFORDABILITY INITIATIVES - Instacart's focus on price parity and retailer loyalty programs drove customer growth and engagement

• ADVERTISING REVENUE - Instacart's advertising and data capabilities contributed significantly to revenue, with over $1 billion in advertising and other revenue in 2025

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 18 "strong buy" or "buy", 16 "hold" and 2 "sell" or "strong sell"

• The average consensus recommendation for the online services peer group is "buy"

• Wall Street's median 12-month price target for Maplebear Inc is $49.00, about 48.8% above its February 11 closing price of $32.93

• The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 17 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)