Instacart, the grocery delivery platform operating as Maplebear Inc (NASDAQ:CART), delivered a mixed financial performance for the final quarter of 2025. While the company's revenue narrowly missed Wall Street's expectations, its profitability on a non-GAAP basis exceeded forecasts, leading to a significant positive reaction in its stock price following the announcement.
Summary of Q4 2025 Results
The company reported its financial results for the fourth quarter and full year ended December 31, 2025, in a shareholder letter published on its investor relations website. The key takeaways from the quarter reveal a business growing its top line but facing pressure on its GAAP earnings.
- Revenue: Reported sales reached $992 million, marking a 12.3% increase compared to the same period last year. This figure, however, came in just slightly below the analyst consensus estimate of approximately $993.8 million.
- Profitability (Non-GAAP): The company's adjusted earnings per share (EPS) of $0.53 surpassed the average analyst estimate of $0.525.
- Profitability (GAAP): On a generally accepted accounting principles (GAAP) basis, the company earned $0.30 per share, which fell 41.3% short of analyst expectations, indicating significant one-time charges or accounting differences between the two profit measures.
Market Reaction to the Earnings Report
The market's response to this mixed report has been decisively positive, focusing on the revenue growth and the beat on adjusted profitability. Following the earnings release, the stock surged approximately 15.8% in after-market trading. This sharp move suggests investors were prepared for a worse outcome and are rewarding the company for its continued sales expansion and operational efficiency as reflected in the non-GAAP EPS beat. The positive after-hours action stands in contrast to the stock's performance over the past month, where it had declined nearly 18.6%.
Looking Ahead: Analyst Estimates for 2026
While the press release did not provide formal financial guidance for the coming year, analyst estimates offer a benchmark for future performance. The focus will now shift to whether Instacart can maintain its growth trajectory and manage its costs effectively.
- For the upcoming first quarter of 2026, analysts are forecasting revenue of approximately $1.005 billion and adjusted earnings per share of around $0.55.
- For the full fiscal year 2026, the current consensus projects sales of about $4.16 billion and revenue of $2.25 billion.
Investors and analysts will be scrutinizing the company's upcoming quarterly reports against these estimates to gauge if the momentum from Q4 2025 can be sustained.
For a detailed breakdown of historical earnings, future estimates, and analyst ratings, you can review the data here.
Disclaimer: This article is for informational purposes only and does not constitute financial advice, a recommendation, or an offer to buy or sell any securities. Investing involves risk, including the potential loss of principal. Readers should conduct their own research and consult with a qualified financial advisor before making any investment decisions.
