Instacart’s Double-Digit Growth Pattern Continues
Instacart, which is nearing a leadership transition at the CEO level, summed up its business footing with the release of its second-quarter financial results. For the three-month period ending June 30, the grocery tech company posted a 17% lift in orders on a year-over-year (YoY) basis, topping the 82.7 million mark and exceeding its previous high reached in the third quarter of 2022.
The numbers revealed other metrics of the company’s ongoing expansion. Q2 was the sixth straight quarter of double-digit growth for Instacart, as the company boosted gross transaction value (GTV) by 11% YoY to reach top $9.0 billion. Net income came in at $116 million for the quarter and adjusted EBITDA was $262 million.
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In a letter to shareholders, Instacart noted that its strategies to accelerate e-grocery adaptation through improved customer experiences is working.
“Our unique scale and advantages allow us to build grocery technologies with partners in ways that competitors simply can’t match, and have us well-positioned to lead as AI transforms how people make decisions and manage their daily lives,” wrote CEO Fidji Simo, who is leaving her role on Aug. 15 to join OpenAI as CEO of applications, and will be succeeded by Instacart business chief Chris Rogers. She will remain involved with the organization as chair of the board.
As she exits, Simo shared her thoughts on the company’s position for the future.
“We have an exceptional team operating from a position of strength and a clear strategy that's delivering results. I couldn’t be more confident that Chris Rogers is the right leader for Instacart’s next chapter,” she declared. “As chair of the board — and a more than daily Instacart customer with 469 orders in the past year — I look forward to supporting him and the entire team as they continue to execute on our vision. The opportunity ahead is enormous, and we're still only just beginning.”
The quarterly recap included other noteworthy developments. Instacart confirmed that it added more than 30 net-new retailers during the first part of 2025 on its Storefront and Storefront Pro e-comm solutions and rolled out Caper Carts with more retail partners on a permanent or pilot basis, including Allegiance Retail Services, Sprouts, Wegmans and Wakefern co-op banners, ShopRite and Price Rite Marketplace. Additionally, the company more than doubled the number of stores using its FoodStorm catering software.
Looking ahead, Instacart projects GTV to land between $9.0 billion and $9.15 billion during the third quarter. Adjusted EBITDA is pegged to fall between $260 million and $270 million for the first full quarter under Rogers’ leadership.
A grocery technology company based in San Francisco, Instacart works with more than 1,800 national, regional and local retail banners to facilitate online shopping, delivery and pickup services from 100,000-plus stores across North America on the Instacart Marketplace. Maplebear Inc. is the registered corporate name of Instacart.
