Instacart IPO Presentation Deck
GAAP to Non-GAAP Reconciliation
($ in millions)
Net Income (Loss)
Add (Deduct)
Provision for (benefit from) income taxes
Interest income
Other (income) expense, net
Depreciation and amortization expense
Stock based compensation expense
Certain legal and regulatory accruals and settlements, net¹
Reserves for sales and other indirect taxes²
COVID-19 response initiatives³
Acquisition-related expenses
Other4
Adjusted EBITDA
2019
$(531)
(25)
I
7
43
42
10
I
I
I
$(454)
Year Ended December 31,
2020
$(70)
(5)
I
10
64
76
44
7
1
7
$134
2021
$(73)
1
(2)
(12)
16
22
46
13
3
10
10
$34
GTV
$20,736
$24,909
Net Income (Loss) as % of GTV
$5,144
(10.3)%
(8.8)%
(0.3)%
0.6%
(0.3)%
0.1%
Adjusted EBITDA as % of GTV
'Represents certain legal, regulatory, and policy expenses related to worker classification matters. 2 Represents sales and other indirect tax reserves, net of abatements, for periods in which we were unable to collect such taxes from customers. We believe this
adjustment is useful for investors in understanding our operating performance because in these cases, the taxes were not intended to be a cost to us but rather are to be borne by the customers. Represents the cost of all personal protective equipment
distributed to shoppers during the COVID-19 pandemic. We ceased excluding this cost following the first quarter of 2022 as the impact of the COVID-19 pandemic and its variant outbreaks on our business subsided. Represents (i) non-capitalizable expenses
related to the potential public listing of our common stock and (ii) expenses related to the settlement of certain patent infringement claims.
2022
$428
(357)
(17)
8
34
33
50
(1)
4
5
$187
$28,826
1.5%
0.6%View entire presentation