Instacart (NASDAQ:CART) Surpasses Estimates with 12.3% Revenue Growth, Shares Up 14.6%

Instacart (NASDAQ:CART) reported Q4 CY2025 sales of $992 million, up 12.3% year-on-year, and GAAP earnings of $0.30 per share, beating analyst expectations. The stock rose 14.6% to $38.27 in after-hours trading. Over the past three years, Instacart delivered 13.6% CAGR in sales. Free cash flow totaled $172 million in Q4 CY2025, reflecting a 17.3% margin, up 1.4 percentage points from the prior-year period. The company’s free cash flow margin averaged 21.5% over the last two years, with operating leverage improving 14.4 percentage points. Looking ahead, sell-side analysts project revenue to grow 8.8% over the next 12 months, down from multi-year expansion, suggesting potential headwinds to growth.