Instacart hits record $10B GTV milestone as advertising and grocery demand climb

Instacart (NASDAQ:CART), operating as Maplebear, reached a significant operational milestone in the first quarter of 2026, crossing the $10 billion threshold in Gross Transaction Value (GTV) and the $1 billion mark in quarterly revenue for the first time in company history.

The results underscore the delivery giant’s successful transition from a pandemic-era utility to a permanent, high-frequency pillar of the retail ecosystem.

The company reported GTV of $10,288 million for the quarter ended March 31, 2026, representing a 13% increase over the same period in 2025.

Total revenue rose 14% year-over-year to $1,019 million, driven by robust demand in its core grocery fulfillment business and the continued expansion of its high-margin retail media and advertising platform.

Profitability saw a marked improvement as the company benefited from increased logistical density and automated fulfillment technologies.

GAAP net income reached $144 million, a 36% jump compared to the first quarter of 2025.

Adjusted EBITDA grew 23% year-over-year to $300 million, while adjusted EBITDA as a percentage of GTV expanded as the company optimized its shopper incentive structures.