Maplebear Inc

CART: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Maplebear Earnings: Solid Results Amid Less-Than-Ideal Competitive and Consumer Backdrop

Mark Giarelli

Nov 10, 2025

Maplebear (Instacart) reported solid third-quarter earnings that exceeded management’s forecast for gross transaction value and adjusted EBITDA by 1% and 5%, respectively. Under the hood, there is declining average order value and a prolonged trend of post-covid growth normalization.

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Maplebear Inc

Maplebear Earnings: Solid Results Amid Less-Than-Ideal Competitive and Consumer Backdrop

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