Instacart reported a 14% increase in gross transaction value for the fourth quarter of 2025, marking the fastest growth rate in three years. The grocery delivery company posted revenue of $992 million for the quarter, up 12% year-over-year, leading to a 15% rise in its stock price. Gross transaction value, which represents the total value of orders based on prices displayed on the platform, grew 14% in the December quarter. Company executives described this as the strongest growth pace in three years. Instacart management projects gross transaction value to increase between 11% and 13% in the first quarter of 2026.

The growth in transaction value during the December quarter was primarily driven by an increase in customer orders, which reached 89.5 million. However, the average value per order declined by 1% during the same period. Chief Financial Officer Emily Maher stated during Thursday afternoon's earnings call that the decrease in average order value was due to Instacart offering more promotions and discounts to boost user engagement.

In the fourth quarter, Instacart's advertising business accounted for approximately 30% of total revenue. The advertising segment grew 10% year-over-year and surpassed $1 billion in annual revenue for the first time in 2025.