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Get filing alertsInstacart reports 14% Q2 revenue growth, repurchases $325M in shares, guides Q3 in line
Filed August 6, 2026 · Period ending August 6, 2026 · ~1 min read
Key Changes
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high
Q2 revenue grew 14% to $1,043M on 14% GTV growth to $10,351M; advertising revenue outpaced at 16% growth while orders rose 9% to 90.3M
Exhibit 99.1 view on EDGAR → -
high
Adjusted EBITDA rose 19% to $313M (3.0% of GTV); free cash flow surged 156% to $480M despite GAAP net income declining 4% to $111M
Exhibit 99.1 view on EDGAR → -
high
Repurchased $325M in shares during Q2, ended quarter with $1B cash; management reaffirmed plan to return majority of 2026 free cash flow via buybacks
Exhibit 99.1 view on EDGAR → -
high
Q3 guidance: GTV $10,300M–$10,550M (14% growth at midpoint), Adjusted EBITDA $320M–$340M (19% growth at midpoint); widened ranges reflect operating scale
Exhibit 99.1 view on EDGAR → -
medium
Acquired Arpalus, a computer vision company with grocery inventory intelligence technology, to enhance real-time shelf visibility for enterprise offerings
Exhibit 99.1 view on EDGAR →
Summary
Instacart delivered solid second-quarter results with 14% revenue and GTV growth, driven by 9% order volume expansion and strong advertising revenue growth of 16%.
The company's profitability profile improved materially: while GAAP net income dipped 4% to $111 million, Adjusted EBITDA climbed 19% to $313 million, and free cash flow more than doubled to $480 million, reflecting operational leverage and working capital efficiency.
The company returned $325 million to shareholders through buybacks during the quarter and ended with $1 billion in cash, maintaining its commitment to return the majority of 2026 free cash flow via repurchases. Third-quarter guidance calls for continued 14% GTV growth and 19% Adjusted EBITDA growth at the midpoint, consistent with Q2 performance. Management widened guidance ranges to reflect the company's larger operating scale. The Arpalus acquisition adds computer vision capabilities for real-time grocery shelf monitoring, supporting Instacart's enterprise technology platform. For retail holders, the quarter demonstrates sustained top-line momentum, improving cash generation, and disciplined capital allocation through buybacks, with guidance suggesting the growth trajectory remains intact.
Section-by-Section Diff
Event · Exhibit 99.1
Added in current filing · view on EDGAR → · paraphrased
GTV of $10,351 million, up 14% year-over-year.
Orders of 90.3 million, up 9% year-over-year.
Total revenue of $1,043 million, up 14% year-over-year, representing 10.1% of GTV.
Transaction revenue of $746 million, up 13% year-over-year, representing 7.2% of GTV.
Advertising and other revenue of $297 million, up 16% year-over-year, representing 2.9% of GTV.
Instacart disclosed second quarter 2026 financial results showing gross transaction value (GTV) of $10,351 million, up 14% year-over-year, and total revenue of $1,043 million, also up 14% year-over-year. Orders grew 9% to 90.3 million. Advertising and other revenue grew 16%, outpacing GTV growth, while transaction revenue grew 13%.
Added in current filing · view on EDGAR → · paraphrased
GAAP gross profit of $751 million, up 11% year-over-year, representing 7.3% of GTV and 72% of total revenue.
GAAP net income of $111 million, down 4% year-over-year, representing 1.1% of GTV and 11% of total revenue.
Adjusted EBITDA of $313 million, up 19% year-over-year, representing 3.0% of GTV and 30% of total revenue.
Operating cash flow of $493 million, up 143% year-over-year, and free cash flow of $480 million, up 156% year-over-year.
Instacart reported GAAP net income of $111 million, down 4% year-over-year, but Adjusted EBITDA of $313 million, up 19% year-over-year. Operating cash flow more than doubled to $493 million (up 143%), and free cash flow increased 156% to $480 million, reflecting strong cash generation despite modest net income decline.
Added in current filing · view on EDGAR →
GTV $10,300 - $10,550 million; $10,425 million at the midpoint.
Adjusted EBITDA $320 - $340 million; $330 million at the midpoint.
Our GTV outlook represents 14% year-over-year growth at the midpoint and we continue to expect GTV to outpace orders growth. Our Adjusted EBITDA outlook represents 19% year-over-year growth at the midpoint.
Instacart provided third quarter 2026 guidance for GTV of $10,300 to $10,550 million (midpoint $10,425 million, representing 14% year-over-year growth) and Adjusted EBITDA of $320 to $340 million (midpoint $330 million, representing 19% year-over-year growth). The company widened its guidance ranges to reflect increased operating scale.
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Figures/quotes linked to EDGAR · Narrative written by AI · Aug 9, 2026 · How we verify