Ibotta shares rallied as much as 32.6% on Tuesday before easing to a 24.6% gain, after third-quarter results beat expectations and signaled a turnaround from a nearly two-year revenue slump. Revenue rose 17.4% to $97.8 million, adjusted EPS climbed 10.7% to $0.62 and adjusted EBITDA rose 43% to $23.8 million, a sharp acceleration from the prior quarter's 3% growth. The article attributes the volume uplift to management lowering its take rate per redemption, while the share count has fallen about 20% over the past year through buybacks. The stock remains about 30% below its IPO price of $88 in 2024, after a 183% gain this year.
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