Scott+Scott Attorneys at Law LLP (“Scott+Scott”), a shareholder and consumer rights litigation firm, is investigating whether Ibotta, Inc. (“Ibotta” or the “Company”) (NYSE: IBTA) or certain of its officers and directors issued misleading and false statements and/or failed to disclose information material to investors in violation of federal securities laws.
Ibotta is a technology company that allows consumer packaged goods brands to deliver digital promotions to consumers through a single network called the Ibotta Performance Network. On April 18, 2024, Ibotta issued 6,560,700 shares of Class A common stock at $88 per share in an initial public offering.
On February 26, 2025, after market hours, Ibotta issued a press release containing its financial results for fourth quarter 2024 and full year 2024, respectively. The press release revealed quarterly revenue of $98.4 million, representing a 1% year-over-year decline. The press release also revealed a first quarter 2025 revenue outlook ranging from $80 million to $84 million, reflecting a 0% year-over-year increase at the midpoint. On this news, the price of Ibotta shares declined by $29.08 per share, or approximately 46%, from $63.09 per share on February 26, 2025, to close at $34.01 on February 27, 2025, on heavy trading volume.