Instacart Q3 sales jump 17% as DoorDash deal values company at $17B
Key points
- Instacart (NASDAQ:CART) reported third-quarter 2026 revenue of $1.095 billion, up 17% year over year, while GAAP net income rose 2% to $147 million.
- Gross transaction value increased 15% to $10.528 billion, and adjusted EBITDA rose 23% to $342 million.
- DoorDash agreed to acquire Instacart in a cash-and-stock transaction valuing its equity at approximately $17 billion, prompting Instacart to withdraw its financial guidance.
Instacart (NASDAQ:CART) reported third-quarter 2026 revenue of $1.095 billion, up 17% year over year, as its proposed acquisition by DoorDash valued its equity at approximately $17 billion.
Gross transaction value increased 15% to $10.528 billion, while orders rose 10% to 91.4 million in the quarter ended September 30, 2026.
GAAP net income increased 2% to $147 million, diluted earnings per share rose to $0.60 from $0.51, and adjusted EBITDA grew 23% to $342 million.
Operating cash flow increased 13% to $324 million, while GAAP gross margin declined to 72% from 74%, and Instacart repurchased $230 million in shares.
Following the acquisition agreement, Instacart suspended financial guidance, withdrew its previously issued long-term outlook and cancelled its November 5, 2026 earnings call.
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