Maplebear Inc. ( CART ) , operating as Instacart, reported its third-quarter results on Monday.

The company reported earnings of 51 cents per share, compared to the analysts' estimate of 50 cents, up from 42 cents per share in the same period last year. Revenue came in at $939 million, versus the estimate of $933.96 million and $852 million for the same period last year.

Maplebear ( CART ) said orders increased 14% year-over-year to 83.4 million in the third quarter as total revenue increased 10% and gross transaction value rose 10% year-over-year to $9.17 billion.

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Adjusted EBITDA margin came in at 30%, compared with 27% a year earlier. Adjusted total operating expenses excluding stock-based compensation and certain other items were $436 million, representing 4.8% of GTV, down from 5.1% in the year-ago quarter.

The company ended the quarter with $1.83 billion in cash, cash equivalents, and restricted cash.

Share Repurchase

The company approved a $1.5 billion expansion of its share repurchase program and plans to launch a $250 million accelerated share buyback, while continuing to repurchase shares opportunistically.

CEO Commentary

Chris Rogers, Chief Executive Officer, said, "Across our marketplace, enterprise solutions, and ads ecosystem – Instacart is executing from a position of strength. We're the clear leader in online grocery among digital-first players, one of the top retail media networks in North America, and we operate a profitable, cash-generating model that gives us the flexibility to keep investing in what's next.

Rogers highlighted Instacart's AI momentum, noting that the company continues to scale tech solutions across retail partners. "Built for the complexity of grocery and powered by our unique insights, Instacart's AI solutions deliver more personalized, connected, and efficient shopping experiences — online and in-stores," said Rogers.

Outlook

Maplebear ( CART ) expects fourth-quarter gross transaction value (GTV) to range between $9.45 billion and $9.60 billion, and projects adjusted EBITDA of $285 million to $295 million.

Price Action: CART shares were trading higher by 6.24% to $39.05 premarket at last check Monday.

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