$CART · Maplebear Inc.
Instacart (Maplebear Inc.) reported Q3 2026 results with GTV of $10.528B (+15% YoY), total revenue of $1.095B (+17% YoY), GAAP net income of $147M, and Adjusted EBITDA of $342M (+23% YoY). Simultaneously, the company announced a definitive agreement to be acquired by DoorDash in a cash-and-stock transaction valued at approximately $17 billion in equity value. Instacart cancelled its earnings call and suspended all financial guidance.
- GTV grew 15% YoY to $10.528B; total revenue rose 17% YoY to $1.095B.
- GAAP net income was $147M; Adjusted EBITDA hit $342M, up 23% YoY.
- Advertising and other revenue surged 23% YoY to $331M, representing 3.1% of GTV.
- Instacart entered a definitive agreement to be acquired by DoorDash in a cash-and-stock deal with ~$17B equity value.
- Instacart cancelled its earnings call and suspended all financial guidance due to the pending acquisition.
Extended-hours trading shows CART at $58.59, up 0.29% from the regular close of $58.42. The modest after-hours move suggests the $17B DoorDash acquisition — a ~22% premium to the $13.87B market cap — was largely anticipated or the deal terms limit immediate upside.
A dual-event filing: strong Q3 results plus a $17B acquisition by DoorDash that would combine two dominant on-demand delivery platforms and reshape the sector.
The DoorDash-Instacart combination would reshape the U.S. on-demand delivery landscape, merging the dominant restaurant delivery platform with the leading grocery technology company. The $17B equity value represents a significant consolidation play in an underpenetrated online grocery market.
The merger may not close within the expected timeframe or at all due to regulatory or stockholder approval risks. A termination fee may be payable if the deal breaks, and business operations face contractual restrictions during the pendency period.