Alexander Vizgaitis

Alexander Vizgaitis asked about the drivers behind the strong sequential and year-over-year third-party redeemer results and the new policy of tying fees more closely to the underlying price of items, including client reception and diversification.

Answer

Bryan Leach, Founder and CEO, attributed third-party redeemer growth to DoorDash's rollout, existing publishers leaning into content, and overall e-commerce growth. He explained the new pricing approach as a client-centric, continuous, and logical evolution for automation, which has been well-received. Matt Puckett, CFO, quantified that existing publishers contributed about a third of the 3.5 million increase in third-party redeemers.

Alexander Vizgaitis inquired about the primary drivers behind the strong sequential and year-over-year growth in third-party redeemer results, asking if specific partnerships or broad success contributed most. He also asked about the new policy of tying fees more closely to product prices, its origin, and how item diversification might offset this.

Answer

Bryan Leach, Founder and CEO, attributed third-party redeemer growth to success across all publishers, specifically calling out the DoorDash rollout and existing publishers finding new ways to integrate Ibotta's content, such as in-store mode and messaging. Matt Puckett, CFO, quantified this, noting about a third of the 3.5 million increase in third-party redeemers came from existing publishers. Regarding pricing, Mr. Leach explained that the shift to a percentage of product price was a client-centric move to create a more logical, continuous, and standardized approach, which has been well-received and aids automation.