Instacart sees Q1 adjusted EBITDA $220M-$230M, consensus $237.1M

Sees Q1 gross transaction volume $9B-$9.15B. The company said, “This GTV outlook represents year-over-year growth between 8% to 10% reflecting our strong start to the year. We also expect AOV will continue to decline year-over-year, primarily driven by restaurant orders and our new $0 delivery fee on $10 minimum basket feature, resulting in orders growth outpacing GTV growth in Q1’25. Our Adjusted EBITDA outlook is up year-over-year on an absolute and percent of GTV basis, and declines sequentially primarily due to seasonality in advertising & other revenue. It also continues to reflect our strong operating fundamentals and aggressive approach to reinvesting in growth initiatives. We remain committed to delivering steady annual Adjusted EBITDA expansion and are taking a disciplined approach to stock-based compensation. Based on a stock price in-line with recent trading levels, we are targeting 2025 stock-based compensation to be less than $425 million.”