Ibotta (IBTA) shares rose more than 47% in Tuesday trading, a day after the company reported higher Q2 revenue that beat analysts' estimates.

The company reported Q2 adjusted net income late Monday of $0.46 per diluted share, down from $0.49 a year earlier.

Three analysts polled by FactSet expected $0.37.

Revenue for the quarter ended June 30 rose to $88.9 million from $86.0 million a year earlier.

Analysts expected $85 million.

For Q3, the company expects revenue of $86 million to $90 million. Analysts expect $88 million.

Separately, Ibotta said late Monday it will serve as the exclusive third-party provider of CPG digital offers to the 7-Eleven, 7NOW, and Speedway apps. Shoppers can access Ibotta-powered offers within 7-Eleven apps before making in-store, at the pump, or delivery purchases, with rewards deposited directly into their loyalty accounts, the company said.

Price: 36.20, Change: +11.62, Percent Change: +47.25