The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here.

GTV and total revenue both grew 14% year-over-year, driven by the fastest net new customer activation rates since 2022 and deepening engagement across the platform.

Management attributes their structural advantage to 'inventory intelligence' derived from 1.6 billion lifetime orders and 10 million daily inventory signals that track real-time shelf availability.

Operational focus on order quality resulted in the 16th consecutive quarter of year-over-year improvements in both found rates and perfect order fill rates.

The enterprise strategy enables deep retail relationships and technical integrations that unlock superior customer experiences across marketplace and owned-and-operated websites., where marketplace innovations like AI assistants and ad tech are white-labeled for retailers' owned channels.

Affordability remains a primary growth lever, with retailers offering no-markup pricing growing 10 points faster on average than those with markups.

Advertising revenue outpaced GTV growth at 16%, fueled by brands seeking to consolidate retail media spend across Instacart's scaled network of Carrot Ads partners.

Q3 2026 guidance assumes GTV growth of 14% at the midpoint, with a new philosophy of landing within the range rather than beating the high end.

The company is rolling out its 'Agentic' AI assistant across North America over the next several weeks, which currently generates larger-than-average basket sizes.

International expansion will follow a disciplined 'enterprise-first' approach, deploying proven North American technology like Storefront Pro rather than building custom local solutions.

Full-year Adjusted EBITDA is expected to grow faster than GTV, though the rate of margin expansion will moderate as the company laps significant 2024-2025 efficiencies.

Management expects year-over-year growth in payments to publishers to moderate in 2026 compared to the scaling seen in 2025.

Acquired Arpalus in July to integrate computer vision technology, aiming to turn shopper video scans into real-time inventory data for better fulfillment efficiency.

Acquired Instaleap in Q2 to bolster international reach and provide picking technology that orchestrates deliveries across multiple platforms.

GAAP net income was impacted by a timing shift in quarterly equity vesting dates from August to May, resulting in a 4% year-over-year decrease.

Free cash flow surged 156% year-over-year to $480 million, primarily due to the collection of a large accounts receivable balance in Q2.

One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here.

Growth is being driven by a combination of new customer activations and deeper engagement from existing users who are shifting more of their weekly shop to the platform.

Management expressed confidence in durability because the grocery category remains significantly underpenetrated in online adoption.

The range was widened to reflect the company's significantly increased operating scale since its IPO.

Management clarified that the midpoint now represents their 'best estimate' of performance, signaling a shift away from a 'beat and raise' cadence.

Early data shows AI-driven orders have higher basket sizes than the already industry-leading $115 average.

The assistant is evolving from a search tool into an 'agent' that can plan full weekly meals within specific budget and dietary constraints.

Instacart argues that first-party models (like Amazon) have limited SKU depth that cannot satisfy the complex dietary and brand preferences of a full weekly shop.

The marketplace model allows customers to shop across an average of 5+ retailers, which management believes is essential for capturing high-value grocery spend.