$CART

Maplebear Inc.

CIK:0001579091|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenue	$ 1,043	$ 914	$ 2,062	$ 1,811
Cost of revenue	292	236	573	462
Gross profit	751	678	1,489	1,350
Operating expenses:
Operations and support	74	66	148	140
Research and development	202	166	366	310
Sales and marketing	233	217	463	434
General and administrative	98	106	186	231
Total operating expenses	608	554	1,164	1,115
Income from operations	143	124	325	234
Other income (expense), net	(1)	3	(1)	3
Interest income	5	15	11	29
Income before provision for income taxes	147	142	335	266
Provision for income taxes	36	26	80	43
Net income	111	116	256	222
Accretion related to Series A redeemable convertible preferred stock	(2)	(2)	(5)	(5)
Net income attributable to common stockholders, basic	109	114	251	218
Accretion related to Series A redeemable convertible preferred stock	2	2	5	5
Net income attributable to common stockholders, diluted	$ 111	$ 116	$ 256	$ 222
Net income per share attributable to common stockholders:
Basic (in dollars per share)	$ 0.46	$ 0.43	$ 1.06	$ 0.83
Diluted (in dollars per share)	$ 0.45	$ 0.41	$ 1.02	$ 0.79
Weighted-average shares used in computing net income per share attributable to common stockholders:
Basic (in shares)	234,928	262,588	237,089	262,511
Diluted (in shares)	248,935	281,293	251,254	282,117

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	3 Months Ended				6 Months Ended		12 Months Ended
	Jun. 30, 2026	Mar. 31, 2026	Jun. 30, 2025	Mar. 31, 2025	Jun. 30, 2026	Jun. 30, 2025	Dec. 31, 2025
OPERATING ACTIVITIES
Net income	$ 111	$ 144	$ 116	$ 106	$ 256	$ 222
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization expense					62	40
Stock-based compensation expense					221	172
Impairments of long-lived assets and other assets					6	11
Provision for bad debts					6	9
Amortization of operating lease right-of-use assets					2	5
Deferred income taxes					67	(1)
Other					3	(5)
Changes in operating assets and liabilities, net of effects of business acquisitions:
Accounts receivable					141	(31)
Prepaid expenses and other assets					21	46
Accounts payable					(8)	(12)
Accrued and other current liabilities					(34)	32
Deferred revenue					20	18
Operating lease liabilities					(1)	(6)
Net cash provided by operating activities					762	501
INVESTING ACTIVITIES
Purchases of marketable securities					(13)	(144)
Maturities of marketable securities					15	127
Purchases of property and equipment, including capitalized internal-use software					(29)	(34)
Acquisitions of businesses, net of cash acquired					(29)	(105)
Other investing activities					0	(1)
Net cash used in investing activities					(56)	(156)
FINANCING ACTIVITIES
Taxes paid related to net share settlement of equity awards					(8)	(14)
Proceeds from exercise of stock options					4	6
Changes in advances from payment card issuer					34	43
Repurchases of common stock					(683)	(210)
Other financing activities					(2)	0
Net cash used in financing activities					(655)	(175)
Effect of foreign exchange on cash, cash equivalents, and restricted cash and cash equivalents					(3)	5
Net increase in cash, cash equivalents, and restricted cash and cash equivalents					47	176
Cash, cash equivalents, and restricted cash and cash equivalents - beginning of period		$ 827		$ 1,449	827	1,449	$ 1,449
Cash, cash equivalents, and restricted cash and cash equivalents - end of period	874		1,625		874	1,625	827
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION
Cash paid for (received from) income taxes, net					(2)	42
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES
Stock-based compensation capitalized as internal-use software					21	23
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION RELATED TO LEASES
Remeasurement of operating lease right-of-use assets					0	17
RECONCILIATION OF CASH, CASH EQUIVALENTS, AND RESTRICTED CASH AND CASH EQUIVALENTS TO THE CONDENSED CONSOLIDATED BALANCE SHEETS
Cash and cash equivalents	757		1,489		757	1,489	637
Restricted cash and cash equivalents, current	117		122		117	122	172
Restricted cash and cash equivalents, noncurrent	0		15		0	15	18
Total cash, cash equivalents, and restricted cash and cash equivalents	$ 874		$ 1,625		$ 874	$ 1,625	$ 827

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 757	$ 637
Short-term marketable securities	93	50
Accounts receivable, net of allowance of $3 and $2, respectively	979	1,127
Restricted cash and cash equivalents, current	117	172
Prepaid expenses and other current assets	171	213
Total current assets	2,117	2,199
Long-term marketable securities	35	81
Restricted cash and cash equivalents, noncurrent	0	18
Property and equipment, net	218	218
Operating lease right-of-use assets	27	30
Intangible assets, net	66	71
Goodwill	412	393
Deferred tax assets, net	596	664
Other assets	39	14
Total assets	3,510	3,687
Current liabilities:
Accounts payable	62	70
Accrued and other current liabilities	631	634
Operating lease liabilities, current	3	3
Deferred revenue	232	211
Total current liabilities	929	917
Operating lease liabilities, noncurrent	31	33
Other long-term liabilities	27	24
Total liabilities	988	974
Commitments and contingencies (Note 10)
Stockholders’ equity:
Preferred stock, $0.0001 par value per share; 24,167 shares authorized as of December 31, 2025 and June 30, 2026; zero shares issued and outstanding as of December 31, 2025 and June 30, 2026	0	0
Common stock, $0.0001 par value per share; $2,000,000 shares authorized as of December 31, 2025 and June 30, 2026; 242,867 and $233,035 shares issued and outstanding as of December 31, 2025 and June 30, 2026, respectively	0	0
Additional paid-in capital	7,289	7,005
Accumulated other comprehensive loss	(7)	(1)
Accumulated deficit	(4,959)	(4,486)
Total stockholders’ equity	2,322	2,518
Total liabilities, redeemable convertible preferred stock, and stockholders’ equity	3,510	3,687
Series A Redeemable Convertible Preferred Stock
Current liabilities:
Series A redeemable convertible preferred stock; $0.0001 par value per share; 5,833 shares authorized, issued, and outstanding as of December 31, 2025 and June 30, 2026	$ 200	$ 196