Instacart (CART) Reports First Post-IPO Profit: Maplebear Inc Beats Revenue Expectations in 2025

Posted on November 20, 2025 by VFuture Media

Maplebear Inc., the parent company of Instacart (NASDAQ: CART), has delivered its first quarterly earnings report since its September 2023 IPO—and the results exceeded expectations. The grocery delivery leader reported a surprise profit, surpassing Wall Street forecasts on both earnings and revenue. This marks a significant milestone for Instacart and signals positive momentum for the broader tech IPO market.

Key Highlights from Instacart’s Post-IPO Earnings

Profitability Achieved
Instacart reported GAAP net income, reversing previous losses through operational improvements and stronger margins.

Revenue Beat
Quarterly revenue came in above analyst projections, driven by high-margin advertising services and increased transaction fees.

Gross Transaction Value (GTV) Growth
Year-over-year GTV growth reflects sustained consumer demand for online grocery delivery and pickup.

Strong Adjusted EBITDA
Instacart highlighted improved adjusted EBITDA, emphasizing cost control and a scalable business model.

Why This Matters for Tech IPO Recovery

Instacart’s profitable first quarter as a public company demonstrates resilience in the online grocery market, even as post-pandemic delivery demand stabilizes. In a tech IPO environment that has been cautious since 2022 and early 2023, Instacart’s strong results offer a positive signal for companies considering going public.

The company’s growing advertising revenue, partnerships with major retailers, and investments in customer experience innovation strengthen its competitive position.

Instacart Stock Reaction and Outlook

CART shares saw positive movement in after-hours trading following the earnings release, reflecting increased investor confidence. Instacart’s outlook for the upcoming quarter remains favorable, with expectations of continued GTV expansion and stable profitability.

As a key player in the tech IPO ecosystem, Instacart’s successful performance may encourage renewed IPO activity from other consumer tech and e-commerce companies.

Keywords

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