Maplebear Inc. (Instacart)
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Maplebear Inc. (Instacart)
Compare market positioning with top industry peers
Explore Instacart
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Financial Performance
Revenue
$3.7B
Market Cap
$11.5B
Net Income
$447M
Employees
3,400
Instacart reported $3.7B in revenue for fiscal year 2025, up 10.8% from 2024. Net income was $447M.
Instacart's financial narrative is a large story of hyper-growth during the pandemic, followed by a highly impressive pivot to absolute profitability. Initially, they burned large amounts of venture capital subsidizing the large cost of delivery to acquire customers. Today, the core delivery business is highly efficient, but the large, highly lucrative profit engine is actually 'Advertising'. Similar to Amazon, large CPG brands (like Kraft or Pepsi) pay Instacart large amounts of money to ensure their products appear at the absolute top of the search results when a user types in 'chips'.
Revenue Trend Analysis
YoY Change
+10.8%
4-Year CAGR
+19.5%
Peak Year
2025
Trend
Consistent Growth
Maplebear Inc. (Instacart) has reported revenue across 5 fiscal years, compounding at +19.5% annually over 4 years. The most recent year saw a 10.8% increase versus the prior year. Revenue peaked in 2025 at $3.7B. Out of 4 reported periods, 4 showed growth and 0 showed a decline.
| Fiscal Year | Revenue | Net Income | YoY Change | Source |
|---|---|---|---|---|
| FY2025 | $3.7B | $447M | +10.8% | MAPLEBEAR INC. annual report (Form 10-K, SEC EDGAR, filed 2026-02-26) Fiscal year ended 2025-12-31. |
| FY2024 | $3.4B | $457M | +11.0% | MAPLEBEAR INC. annual report (Form 10-K, SEC EDGAR, filed 2026-02-26) Fiscal year ended 2024-12-31. |
| FY2023 | $3B | N/A | +19.2% | MAPLEBEAR INC. annual report (Form 10-K, SEC EDGAR, filed 2026-02-26) Fiscal year ended 2023-12-31. |
| FY2022 | $2.6B | $428M | +39.1% | MAPLEBEAR INC. annual report (Form 10-K, SEC EDGAR, filed 2025-02-28) Fiscal year ended 2022-12-31. |
| FY2021 | $1.8B | N/A | — | MAPLEBEAR INC. annual report (Form 10-K, SEC EDGAR, filed 2024-03-05) Fiscal year ended 2021-12-31. |
Click any row to see year details.
Maplebear Inc. (Instacart) reported revenue of $3.7 billion for fiscal year 2025, up from $3.4 billion in fiscal 2024.
Advertising and other high-margin marketing services represent approximately 28% to 30% of total revenue (approaching $1 billion annually), while core Transaction and Delivery fees account for roughly 70% to 72% of total revenues.
Instacart delivers annual Adjusted EBITDA in the range of $650 million to $800 million (representing 2.2% to 2.5% of total GTV and over 22% of revenue), achieving sustained GAAP net profitability and strong positive operating cash flows.
Instacart processes over 270 million customer grocery orders annually, maintaining a high Average Order Value (AOV) of approximately $110 to $115 per basket, significantly higher than typical restaurant food delivery orders.
Instacart maintains a fortress balance sheet with over $1.5 billion to $1.8 billion in cash, cash equivalents, and marketable securities, zero long-term debt, and active share repurchase programs returning hundreds of millions to public shareholders.
Instacart (Maplebear Inc.) went public on the NASDAQ on September 19, 2023, under the ticker symbol CART, pricing its IPO at $30 per share and raising $660 million at an initial market valuation of approximately $10 billion.
Operating an asset-light technology platform that relies on retailer store infrastructure and gig-economy driver vehicles, Instacart maintains minimal CapEx requirements (under $50 million annually), converting nearly 100% of Adjusted EBITDA into free cash flow.
Instacart's total take rate (total revenue as a percentage of GTV) has expanded to approximately 10.0% to 10.5%, driven by the rapid growth of high-margin retail media advertising and premium enterprise software solutions.
Using these figures? Please credit CorpDigest with a link.
CorpDigest. "Maplebear Inc. (Instacart) Revenue & Financials." CorpDigest, https://corpdigest.com/company/instacart/financials.<div style="font-family:system-ui,sans-serif;font-size:14px;line-height:1.5;border:1px solid #e2e8f0;border-radius:8px;padding:12px 16px;max-width:520px"><strong>Maplebear Inc. (Instacart) reported $3.7B in revenue (FY2025).</strong><br>Source: <a href="https://corpdigest.com/company/instacart/financials" target="_blank" rel="noopener">CorpDigest — Maplebear Inc. (Instacart) financials</a></div>