Strong Order Growth Drives Instacart Stock Surge
Special Report: Focus on U.S. Stock Q4 2025 Earnings
This fresh grocery delivery company announced that its gross merchandise volume (GMV) grew by 14% in Q4 2025, marking the fastest growth rate in three years.
Author: Anita Ramaswamy
Instacart reported Q4 revenue of $992 million, an increase of 12% year-over-year, sending its stock price up by 15%. The company's gross merchandise volume (meaning the total value of orders based on prices displayed on the platform's app) grew by 14% year-over-year in the December quarter, which executives said was the fastest growth in three years. Instacart executives expect GMV to grow by 11% to 13% in Q1 2026.
The increase in trading volume during the December quarter was mainly driven by a rise in platform customer orders to 89.5 million, though the average value per order declined by 1% over the same period. Chief Financial Officer Emily Maher said during Thursday afternoon's earnings call that the drop in average order value was due to Instacart launching more promotions and discounts "to boost user engagement."
In the fourth quarter, Instacart's advertising business accounted for about 30% of total revenue, with the segment growing 10% year-over-year and achieving annual revenue exceeding $1 billion for the first time in 2025.
Editor: Guo Mingyu
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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