| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 1.0K | 2.4% | 14.1% |
| Total Income | 1.0K | 2.4% | 14.1% |
| Expenditure | 900.00 | 7.5% | 13.9% |
| PBT | — | ||
| Net Profit | 111.00 | 22.9% | 4.3% |
| OPM | 13.71% | 4.15pp | 0.14pp |
| NPM | 10.64% | 3.49pp | 2.05pp |
| EPS | 0.46 | 22.0% | 7.0% |
Instacart Announces Second Quarter 2026 Financial Results
07 Aug 2026 · 7 Aug, 1:51 am
Summary
Instacart announced strong second quarter 2026 financial results, with both Gross Transaction Value (GTV) and total revenue growing by 14% year-over-year to $10,351 million and $1,043 million, respectively. Advertising and other revenue showed robust growth of 16% year-over-year. While GAAP net income decreased slightly by 4% to $111 million, Adjusted EBITDA increased by 19% to $313 million. Management expressed confidence in the business's performance and future outlook, highlighting accelerated growth and customer engagement.
Key Highlights
- 1
Gross Transaction Value (GTV) grew 14% year-over-year to $10,351 million in the second quarter of 2026.
- 2
Total revenue increased by 14% year-over-year to $1,043 million in Q2 2026.
- 3
Advertising and other revenue grew 16% year-over-year, outpacing GTV growth.
- 4
GAAP net income for Q2 2026 was $111 million, a decrease of 4% year-over-year.
- 5
Adjusted EBITDA reached $313 million, up 19% year-over-year, demonstrating strong operational performance.
- 6
Operating cash flow surged by 143% year-over-year to $493 million, with free cash flow up 156% to $480 million.
- 7
The company repurchased $325 million in shares during the quarter and ended with $1 billion in cash.
Management Comments
Chris Rogers
Our business is performing incredibly well. We’ve meaningfully accelerated our growth over the past three quarters, including a strong Q2 where we grew GTV 14% year-over-year. We're attracting and engaging more customers across our marketplace and enterprise platform, which creates more value for retailers, brands, and shoppers. We're continuing to improve the customer experience on our leading online grocery marketplace, accelerate adoption of our enterprise technologies with retailers, and expand the breadth and depth of our advertising ecosystem. Together, these capabilities reinforce one another and give us further confidence in our runway ahead.
Emily Reuter
Our Q2 results reflect broad-based strength across our platform and our operating model. In particular, we delivered double-digit GTV and total revenue growth, with advertising and other revenue up 16% year-over-year, once again outpacing GTV growth. We’re continuing to drive efficiencies and reinvest in growth, all while continuing to deliver strong net income and expanding Adjusted EBITDA and operating cash flow year-over-year. We’re also well on track to return the majority of free cash flow to shareholders via share repurchases in 2026.
Informational and educational content only. Not investment advice.