Maplebear (CART) earnings
- Jun 2026
- Dec 2025
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 1,043 | +14.1% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 13.7 | +0.1 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 111 | −4.3% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
37 of 39 judged targets kept · 15 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Adjusted EBITDA Growth | 11% to 15% year-over-year | Mar 2026 | Adjusted EBITDA was $313 million, up 19% year-over-year. | Achieved |
| Adjusted EBITDA | $320 million to $340 million | Jun 2026 | We also anticipate adjusted EBITDA of $320 million to $340 million, representing $330 million and year-over-year growth of 19% at the midpoint. | New |
| Cart Assistant rollout | roll out on Instacart marketplace | Dec 2025 | We recently began testing Cart Assistant, our AI-powered conversational shopping experience, now available to about 25% of U.S. customers. | Missed |
2 of Maplebear Inc.'s 54 targets were missed. See which ones, and which are quietly gone. The 3 above are the free sample; 51 more targets are in the full ledger.
Price
Performance +29.7% 1Y
1Y: $38.49 on 17 Oct 2025 → $49.91. High $51.78 (24 Aug 2026), low $32.93 (11 Feb 2026).
- Previous close
- $49.83
- 52-week range
- $32.93 – $51.78
- One year
- +28.14%
Overview
- Symbol
- CART
- Sector
- Information Technology
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
37 of 39 judged targets kept · 15 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Adjusted EBITDA Growth | 11% to 15% year-over-year | Mar 2026 | Adjusted EBITDA was $313 million, up 19% year-over-year. | Achieved |
| Adjusted EBITDA | $320 million to $340 million | Jun 2026 | We also anticipate adjusted EBITDA of $320 million to $340 million, representing $330 million and year-over-year growth of 19% at the midpoint. | New |
| Cart Assistant rollout | roll out on Instacart marketplace | Dec 2025 | We recently began testing Cart Assistant, our AI-powered conversational shopping experience, now available to about 25% of U.S. customers. | Missed |
The full ledger
Open Maplebear Inc.’s full ledger
A free account opens 5 company ledgers a month. All 54 tracked commitments, with each call’s wording and source.
Financials
What the filings say
Net profit, year on year: −4% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 852 | 883 | 897 | 914 | 939 | 992 | 1,019 | 1,043 |
| Operating profit | 138 | 155 | 110 | 124 | 166 | 98 | 182 | 143 |
| Operating margin | 16.2% | 17.6% | 12.3% | 13.6% | 17.7% | 9.9% | 17.9% | 13.7% |
| Profit before tax | 153 | 166 | 124 | 142 | 181 | 109 | — | — |
| Tax rate | 22.9% | 10.8% | 14.5% | 18.3% | 20.4% | 25.7% | — | — |
| Net profit | 118 | 148 | 106 | 116 | 144 | 81 | 144 | 111 |
| EPS ($ per share) | 0.45 | — | 0.40 | 0.43 | 0.54 | — | 0.59 | 0.46 |
| Line item | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Equity capital | — | 0 | 0 | 0 | 0 |
| Reserves | — | -977 | -2,635 | -3,585 | -4,486 |
| Total liabilities | — | 911 | 800 | 836 | 974 |
| Fixed assets | — | 38 | 135 | 200 | 218 |
| Investments | — | 209 | 49 | 91 | 50 |
| Total assets | — | 3,669 | 4,727 | 4,115 | 3,687 |
| Line item | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash from operations | -204 | 277 | 586 | 687 | 971 |
| Cash from investing | -330 | 117 | 135 | -107 | -208 |
| Cash from financing | 464 | 46 | -30 | -1,413 | -1,391 |
| Net cash flow | -71 | 434 | 694 | -844 | -623 |
| Capital expenditure | -13 | -24 | -54 | -64 | -61 |
| Free cash flow | -217 | 253 | 532 | 623 | 910 |
CART revenue by segment
| Segment | Q3 FY2024 | Q4 FY2024 | Q1 FY2025 | Q2 FY2025 | Q3 FY2025 | Q4 FY2025 | Q1 FY2026 | Q2 FY2026 | YoY growth latest quarter |
|---|---|---|---|---|---|---|---|---|---|
| Transaction | 71% | 70% | 72% | 72% | 71% | 70% | 72% | 72% | +13.2% |
| Advertising and Other | 29% | 30% | 28% | 28% | 29% | 30% | 28% | 28% | +16.5% |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
Revenue by region
Q2 FY2026 · share of revenue
- Non Us 5% ↑ 1 pt
As CART cuts its regions in its filings; they can nest, so they need not add to 100%.
Insider filings
65 filings between Oct 20, 2025 and Sep 22, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$27.78M
30 sales by 8 insiders
83% filed under a 10b5-1 plan — scheduled in advance, not decided on the day
Compensation
not trading decisions- 11
- Award — granted as compensation
- 5
- Option exercise — converted options into shares
- 15
- Tax withheld — shares kept back by the company to cover tax
Also filed: 4 other filings.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Gupta Ravi | — | $15.11M | Aug 19, 2026 |
| Fong Morgan | — | $8.36M | Sep 22, 2026 |
| Reuter Emily | — | $1.25M | Aug 13, 2026 |
| BLACKWOOD-KAPRAL LISA | — | $1.15M | Sep 15, 2026 |
| Rogers Chris | — | $939.9K | Aug 19, 2026 |
| Laughton Mary Beth | — | $680.3K | Aug 27, 2026 |
| Simo Fidji | — | $162.3K | Nov 12, 2025 |
| Sarafan Lily | — | $127.8K | Feb 25, 2026 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Sep 22, 2026 | Fong Morgan Chief Legal Officer | Option exercise 10b5-1 plan | 18,390 | $134.6K |
| Sep 22, 2026 | Fong Morgan Chief Legal Officer | Sale 10b5-1 plan | 17,617 | $792.0K |
| Sep 22, 2026 | Fong Morgan Chief Legal Officer | Sale 10b5-1 plan | 773 | $35.3K |
| Sep 15, 2026 | BLACKWOOD-KAPRAL LISA Chief Accounting Officer | Sale 10b5-1 plan | 3,017 | $142.0K |
| Aug 27, 2026 | Laughton Mary Beth Director | Sale | 10,236 | $515.2K |
| Aug 24, 2026 | Fong Morgan Chief Legal Officer | Sale 10b5-1 plan | 4,299 | $217.0K |
| Aug 24, 2026 | Fong Morgan Chief Legal Officer | Option exercise 10b5-1 plan | 18,390 | $134.6K |
| Aug 24, 2026 | Fong Morgan Chief Legal Officer | Sale 10b5-1 plan | 14,091 | $701.8K |
| Aug 19, 2026 | Gupta Ravi Director | Sale | 150,000 | $7.59M |
| Aug 19, 2026 | Rogers Chris President and CEO | Sale 10b5-1 plan | 7,606 | $372.3K |
| Aug 15, 2026 | Fong Morgan Chief Legal Officer | Tax withheld | 14,167 | $692.5K |
| Aug 15, 2026 | Rogers Chris President and CEO | Tax withheld | 43,807 | $2.14M |
| Aug 15, 2026 | BLACKWOOD-KAPRAL LISA Chief Accounting Officer | Tax withheld | 6,103 | $298.3K |
| Aug 15, 2026 | Reuter Emily CHIEF FINANCIAL OFFICER | Tax withheld 10b5-1 plan | 19,188 | $937.9K |
| Aug 13, 2026 | Reuter Emily CHIEF FINANCIAL OFFICER | Sale 10b5-1 plan | 25,000 | $1.25M |
| Aug 10, 2026 | SC US (TTGP), LTD. 10% owner | Other | 924,221 | $0 |
| Aug 10, 2026 | SC US (TTGP), LTD. 10% owner | Other | 924,221 | $0 |
| Aug 10, 2026 | SC US (TTGP), LTD. 10% owner | Other | 5,203,747 | $0 |
| Aug 10, 2026 | SC US (TTGP), LTD. 10% owner | Other | 5,203,747 | $0 |
| Aug 7, 2026 | Rogers Chris President and CEO | Sale 10b5-1 plan | 4,933 | $246.7K |
| Jul 22, 2026 | Fong Morgan Chief Legal Officer | Sale 10b5-1 plan | 18,390 | $815.4K |
| Jul 22, 2026 | Fong Morgan Chief Legal Officer | Option exercise 10b5-1 plan | 18,390 | $134.6K |
| Jul 15, 2026 | BLACKWOOD-KAPRAL LISA Chief Accounting Officer | Sale 10b5-1 plan | 3,016 | $143.7K |
| Jun 15, 2026 | BLACKWOOD-KAPRAL LISA Chief Accounting Officer | Sale 10b5-1 plan | 3,017 | $124.4K |
| Jun 2, 2026 | Gupta Ravi Director | Sale | 181,000 | $7.51M |
| Jun 1, 2026 | Rogers Chris President and CEO | Sale 10b5-1 plan | 7,893 | $320.9K |
| May 22, 2026 | Sundheim Daniel S. Director | Award | 6,048 | $0 |
| May 22, 2026 | Gupta Ravi Director | Award | 6,048 | $0 |
| May 22, 2026 | Laughton Mary Beth Director | Award | 6,048 | $0 |
| May 22, 2026 | Silverman Josh Director | Award | 6,048 | $0 |
| May 22, 2026 | Sarafan Lily Director | Award | 6,048 | $0 |
| May 22, 2026 | KOPIT LEVIEN MEREDITH A. Director | Award | 6,048 | $0 |
| May 22, 2026 | Dolan Victoria L Director | Award | 6,048 | $0 |
| May 18, 2026 | Fong Morgan Chief Legal Officer | Sale 10b5-1 plan | 12,575 | $501.5K |
| May 18, 2026 | Fong Morgan Chief Legal Officer | Sale 10b5-1 plan | 1,458 | $58.9K |
| May 15, 2026 | Fong Morgan Chief Legal Officer | Tax withheld 10b5-1 plan | 15,898 | $611.6K |
| May 15, 2026 | BLACKWOOD-KAPRAL LISA Chief Accounting Officer | Tax withheld | 6,103 | $234.8K |
| May 15, 2026 | Reuter Emily CHIEF FINANCIAL OFFICER | Tax withheld | 26,929 | $1.04M |
| May 15, 2026 | Rogers Chris President and CEO | Tax withheld | 45,464 | $1.75M |
| Apr 15, 2026 | BLACKWOOD-KAPRAL LISA Chief Accounting Officer | Sale 10b5-1 plan | 9,390 | $377.9K |
| Apr 15, 2026 | BLACKWOOD-KAPRAL LISA Chief Accounting Officer | Award 10b5-1 plan | 20,851 | $0 |
| Apr 15, 2026 | Rogers Chris President and CEO | Award | 376,405 | $0 |
| Apr 15, 2026 | Reuter Emily CHIEF FINANCIAL OFFICER | Award | 254,283 | $0 |
| Apr 15, 2026 | Fong Morgan Chief Legal Officer | Award | 187,366 | $0 |
| Mar 16, 2026 | BLACKWOOD-KAPRAL LISA Chief Accounting Officer | Sale 10b5-1 plan | 9,390 | $363.8K |
| Mar 11, 2026 | Fong Morgan GENERAL COUNSEL & SECRETARY | Sale 10b5-1 plan | 10,788 | $397.8K |
| Mar 11, 2026 | Fong Morgan GENERAL COUNSEL & SECRETARY | Sale 10b5-1 plan | 35,121 | $1.32M |
| Mar 11, 2026 | Fong Morgan GENERAL COUNSEL & SECRETARY | Sale 10b5-1 plan | 4,955 | $186.3K |
| Mar 11, 2026 | Fong Morgan GENERAL COUNSEL & SECRETARY | Sale 10b5-1 plan | 75,219 | $2.77M |
| Mar 11, 2026 | Fong Morgan GENERAL COUNSEL & SECRETARY | Option exercise 10b5-1 plan | 110,340 | $807.7K |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
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