Instacart Reports 11% Revenue Growth to $914 Million in Q2 2025

Maplebear Inc., operating as Instacart, reported a notable increase in its financial performance for the second quarter of 2025, with revenue reaching $914 million, an 11% rise from $823 million in the same period last year. The company's net income also saw significant growth, climbing to $116 million compared to $61 million in the prior year, marking a 92% increase. For the first half of 2025, revenue totaled $1.811 billion, up from $1.643 billion in the first half of 2024, while net income rose from $191 million to $222 million.

The company experienced a 17% increase in orders, totaling 82.7 million in the second quarter, driven by new customer acquisitions and enhanced engagement from existing users. Gross transaction value (GTV) also grew by 11% to $9.081 billion, reflecting the overall health of the business. However, gross margin decreased slightly to 74% from 76% year-over-year, attributed to rising costs outpacing revenue growth, particularly in credit card processing fees and payments to publishers.

Strategically, Instacart made a significant acquisition of Marlin9 Holdings, Inc. for $105 million, enhancing its e-commerce capabilities for retailers. This acquisition is expected to strengthen relationships with retail partners and improve the technology offerings available to them. Additionally, the company has been actively repurchasing shares, with $205 million spent on buybacks in the first half of 2025, as part of a broader $1 billion share repurchase program initiated in 2024.

Operationally, Instacart reported a total employee headcount of approximately 3,500 as of June 30, 2025, reflecting a slight reduction from previous periods due to restructuring efforts aimed at improving efficiency. The company also noted a decrease in general and administrative expenses, which fell to $106 million from $114 million year-over-year, primarily due to lower compensation costs. Despite these reductions, total operating expenses increased slightly, driven by higher sales and marketing investments.

Looking ahead, Instacart anticipates continued growth, although it remains cautious about macroeconomic factors such as inflation and changing consumer behaviors that could impact spending. The company is focused on enhancing its technology platform and expanding its market presence while navigating the complexities of regulatory environments affecting its independent contractor workforce. Instacart's management expressed confidence in its ability to maintain profitability and drive growth through strategic initiatives and operational efficiencies.