Instacart IPO Presentation Deck
GAAP to Non-GAAP Reconciliation
($ in millions)
Sales and marketing expense
Add (Deduct)
Depreciation and amortization expense
Stock-based compensation expense
Acquisition-related expenses
Adjusted sales and marketing expense
Sales and marketing expense as % of GTV
Adjusted sales and marketing expense as % of GTV
General and administrative expense
Add (Deduct)
Depreciation and amortization expense
Stock-based compensation expense
Certain legal and regulatory accruals and settlements, net¹
Reserves for sales and other indirect taxes²
Acquisition-related expenses
Other³
Adjusted general and administrative expense
General and administrative expense as % of GTV
Adjusted general and administrative expense as % of GTV
2019
$90
(1)
(5)
$84
1.7%
1.6%
$132
(14)
(42)
(10)
$66
2.6%
1.3%
Year Ended December 31,
2020
2021
$158
(1)
(5)
$152
0.8%
0.7%
$278
(1)
(36)
(76)
(44)
(1)
$113
1.3%
0.5%
$394
(2)
(3)
$388
1.6%
1.6%
$288
(2)
(9)
(46)
(13)
(6)
(10)
$202
1.2%
0.8%
$5,144
$20,736
$24,909
GTV
¹Represents 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 3 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
$660
(5)
(4)
2
$653
2.3%
2.3%
$339
(3)
(11)
(50)
1
(5)
(5)
$266
1.2%
0.9%
$28,826View entire presentation