Maplebear Inc., doing business as Instacart, is a technology and enablement partner for the grocery industry in the United States and internationally. Its offerings include Instacart Marketplace, which supports retailers with fulfillment options, shopping occasions, and categories; Instacart Enterprise, an end-to-end technology platform for retailers; and Instacart Ads, which provides consumer-behavior insights and advertising solutions such as sponsored product ads, display ads, coupons, and brand pages. The company also offers software-as-a-service, delivered through its mobile application or website. Incorporated in 2012, Maplebear Inc. is headquartered in San Francisco, California.
Instacart's AI and ad push drive strong Q2, but margins stay tight
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AI assistant rollout to lift order values Instacart will roll out its AI shopping assistant across North America in coming weeks. Early orders placed with it are larger than average, which could raise basket sizes and attract new customers. Analysts see this as a catalyst for the stock.
This is a new, concrete growth driver that directly supports future revenue and explains recent optimism.
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Q2 revenue beat and strong Q3 guidance Instacart reported Q2 revenue of $1.043 billion, up 14% and above estimates, with gross transaction value up 14%. It guided Q3 revenue and adjusted EBITDA ahead of expectations, sending shares up nearly 12%. This shows the core business is still growing solidly.
This is the latest hard financial result and outlook that directly moved the stock and answers why it's moving now.
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Advertising and enterprise software expand Advertising and other revenue rose 16% to $286 million, with over 9,000 brands and 310 Carrot Ads partners. Storefront Pro now powers 380+ grocery sites and launched with Costco in Europe. This higher-margin mix supports profit growth.
It explains the profitable growth engine behind the stock's long-term appeal, a key part of the bull case.
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Gross margin pressure and earnings miss GAAP gross margin fell to 72% from 75% as costs like credit-card fees and publisher payments rose faster than revenue. Q2 GAAP EPS of $0.45 missed estimates. This cost squeeze is a real counterweight to the growth story.
It provides the necessary balance, showing a genuine risk that could cap stock gains despite strong revenue.
Q3 2026
▲3▼1
Instacart's AI and ad push drive strong Q2, but margins stay tight
▲
AI assistant rollout to lift order values Instacart will roll out its AI shopping assistant across North America in coming weeks. Early orders placed with it are larger than average, which could raise basket sizes and attract new customers. Analysts see this as a catalyst for the stock.
This is a new, concrete growth driver that directly supports future revenue and explains recent optimism.
▲
Q2 revenue beat and strong Q3 guidance Instacart reported Q2 revenue of $1.043 billion, up 14% and above estimates, with gross transaction value up 14%. It guided Q3 revenue and adjusted EBITDA ahead of expectations, sending shares up nearly 12%. This shows the core business is still growing solidly.
This is the latest hard financial result and outlook that directly moved the stock and answers why it's moving now.
▲
Advertising and enterprise software expand Advertising and other revenue rose 16% to $286 million, with over 9,000 brands and 310 Carrot Ads partners. Storefront Pro now powers 380+ grocery sites and launched with Costco in Europe. This higher-margin mix supports profit growth.
It explains the profitable growth engine behind the stock's long-term appeal, a key part of the bull case.
▼
Gross margin pressure and earnings miss GAAP gross margin fell to 72% from 75% as costs like credit-card fees and publisher payments rose faster than revenue. Q2 GAAP EPS of $0.45 missed estimates. This cost squeeze is a real counterweight to the growth story.
It provides the necessary balance, showing a genuine risk that could cap stock gains despite strong revenue.
News & notes movingCART
United States
CART▲impact 4
Meta Shares Jump 36% in September, Best Month Since 2013
Meta Platforms Inc. shares have surged 36% in September, putting the Facebook parent on pace for its best month since July 2013 and on the cusp of joining an elite group of companies worth at least $2 trillion. The rally follows the release of Meta's Muse personal AI assistant, which has risen quickly to the top of app charts and quieted concerns that heavy spending on AI won't pay off. The recovery began after Meta agreed late last month to pay as much as $18 billion to settle a social-media lawsuit, removing a major overhang; since Aug. 18, Meta is the third-best performer in the S&P 500 with a 43% gain, a dramatic reversal from less than six weeks ago when the stock was down 18% for the year. Meta has already announced a grocery-selling partnership with Instacart-owner Maplebear Inc. and one with online travel agency Expedia Inc., and at an event on Wednesday it unveiled products analysts praised, including a palm-sized gadget for using Muse and camera-free versions of its smart-glasses lineup. JPMorgan analyst Doug Anmuth raised his rating on the stock to overweight from neutral in a Sept. 10 note, citing meaningful upside potential as Meta is in the early stages of releasing frontier models and AI-driven products beyond advertising, though capital spending is expected to be nearly $140 billion this year, double the roughly $70 billion Meta spent in 2025, and is expected to swell to $197 billion next year and $215 billion in 2028.
Meta's Muse AI Agent Stays Free as Walmart, Sephora and Best Buy Sign On
Meta Platforms CEO Mark Zuckerberg said Wednesday that the company's personal AI agent, Muse, will remain free for most users, unveiling a slate of new retail and productivity partnerships at the company's Connect event. Zuckerberg described the model as novel, betting the agent will make users money by staying free for a huge number of tokens rather than charging upfront, with Meta eventually taking a small fee from transactions Muse completes on users' behalf. Muse launched on Sept. 8, with the basic version free and subscription tiers priced at $20 and $100 a month for heavier use. Meta AI chief Alexander Wang announced that Walmart, Best Buy, Gap, Sephora, Wayfair, Dick's Sporting Goods, Ulta Beauty and Fanatics are integrating with Muse to power new in-app shopping experiences, alongside productivity tools Box, GitHub, Granola and Notion, with Expedia joining for travel planning and Instacart for grocery orders. Wang also said Meta has received more than 1,500 applications from developers since opening its connector platform last week, and JPMorgan analysts said Muse could become the most widely used consumer AI app since OpenAI's ChatGPT.
META · Demand · Positive Walmart, Best Buy, Gap, Sephora, Wayfair and others are integrating with Muse to power in-app shopping, a concrete adoption/partnership win.
META · Technology · Positive Meta unveiled its free Muse AI agent and connector platform with 1,500+ developer applications, advancing its AI product.
BBY · Demand · Positive Best Buy is integrating with Meta's Muse AI agent to power new in-app shopping experiences, a concrete partnership expanding its retail reach.
CART · Demand · Positive Instacart (Maplebear) is joining Muse for grocery orders, integrating with Meta's AI agent to power in-app shopping.
DKS · Demand · Positive Dick's Sporting Goods is integrating with Muse to power new in-app shopping experiences.
EXPE · Demand · Positive Expedia is joining Muse for travel planning, a partnership powering in-app travel experiences.
Instacart Shares Fall 2.4% as Meta Muse AI Integration Threatens Ad Revenue
Instacart shares fell 2.4% in the afternoon session after investors digested the long-term implications of the company's new integration with Meta's Muse AI. Management initially touted the integration by noting shoppers could simply prompt Muse for "Taco Tuesday" to instantly build a cart, but investors quickly realized this autonomous functionality could bypass the human browsing required to sustain Instacart's highly lucrative retail media ad business, according to Barron's. Because AI agents do not click on sponsored product placements, the shift threatens to strip away the high-margin ad revenue that underpins the company's profitability and commoditize the platform into a mere fulfillment rail. The dynamic aligns with a recent Goldman Sachs research note highlighting the intense risks AI agents pose to "consumer inertia" stocks. The shares closed the day at $42.96, down 3.3% from the previous close.
CART · Competition · Negative Meta Muse AI integration could bypass human browsing and strip Instacart's high-margin retail media ad revenue, commoditizing it into a fulfillment rail.
META · Technology · Neutral Its Muse AI integration is the catalyst, but the article frames it as a threat to Instacart's ad business rather than a clear win for Meta.
IonQ Claims First Real-Time Quantum Error Decoder, Shares Jump 12%
IonQ said it tested the industry's first real-time quantum error decoder, sending its shares up 12% in premarket trading and lifting the broader quantum sector, with Rigetti Computing and D-Wave Quantum each up more than 5.5% and Infleqtion rising a similar amount. Worthington Enterprises surged about 16% after first-quarter adjusted earnings and revenue surpassed Street estimates, with CEO Joseph Hayek citing rapidly growing demand for the company's engineered American Society of Mechanical Engineers tanks used in liquid cooling systems for data centers. KB Home fell more than 1% after projecting fourth-quarter deliveries below expectations and housing gross margins of 16% to 16.6%, short of the 17.2% analysts polled by LSEG sought. Six Flags Entertainment rose 1% after a Wall Street Journal report that activist hedge fund Jana Partners was encouraging the company to explore a sale, following the fund's disappointment with Six Flags' second-quarter earnings report. Maplebear, the Instacart owner, gained more than 3% after announcing that customers on its grocery platform can use Meta's personal AI agent Muse, joining OpenAI's ChatGPT, Anthropic's Claude and Google's Gemini as AI partners.
IONQ · Technology · Positive IonQ said it tested the industry's first real-time quantum error decoder.
KBH · Capital · Negative KB Home projected Q4 deliveries below expectations and housing gross margins short of analyst estimates.
CART · Technology · Positive Instacart customers can now use Meta's AI agent Muse on its grocery platform, adding an AI partner.
FUN · Capital · Positive Activist hedge fund Jana Partners is encouraging Six Flags to explore a sale.
WOR · Demand · Positive Q1 adjusted earnings and revenue beat estimates, with CEO citing rapidly growing demand for ASME tanks used in data-center liquid cooling.
INFQ · Technology · Positive Infleqtion rose a similar amount as IonQ's quantum error-decoder news lifted the broader quantum sector.
Uber and Costco Expand Delivery Partnership to 47 U.S. States
Uber Technologies and Costco Wholesale have expanded their delivery partnership to cover 47 U.S. states and nearly 600 warehouses. Costco delivery through Uber Eats now includes new membership perks and gift card benefits aimed specifically at Costco members. Uber describes the rollout as its broadest single retailer expansion for Uber Eats in the U.S., widening its grocery delivery reach against key competitors such as DoorDash and Instacart. The company, a transportation and delivery platform valued at about $145.9b, is tying Costco's loyalty-heavy membership scheme to Uber One perks and promotions as it pushes for deeper cross-platform engagement and spend per customer. Analysts continue to flag that lower-margin baskets and discounted tiers, including bulk groceries, could pressure average profitability.
UBER · Demand · Positive Uber Eats expands Costco delivery to 47 states and nearly 600 warehouses, its broadest single-retailer expansion, deepening cross-platform engagement and spend per customer.
UBER · Capital · Negative Analysts flag that lower-margin bulk grocery baskets and discounted tiers could pressure average profitability.
COST · Demand · Positive Costco expands its delivery partnership with Uber Eats to 47 states and nearly 600 warehouses, adding membership perks and gift card benefits for its members.
CART · Competition · Negative Uber's broadest single-retailer expansion with Costco widens grocery delivery reach against Instacart, intensifying competitive pressure.
DASH · Competition · Negative Uber's expanded Costco grocery delivery rollout is explicitly framed as widening reach against key competitors including DoorDash.
Amazon Plans Project Mercury Same-Day Delivery Expansion to 1,000 Sites by 2031
Amazon is reportedly preparing a major expansion of its same-day delivery network, targeting more than 1,000 dedicated facilities by 2031, up from roughly 85 today. The initiative, known internally as Project Mercury, would place dedicated same-day facilities within a 10-mile straight-line radius of 80% of U.S. Prime subscribers by 2031, according to Business Insider, compared with many current same-day sites positioned roughly a 90-minute drive from customers. Amazon's three-year operating plan allocates $6.8 billion toward U.S. same-day capacity during 2026 and 2027, and internal analysis reportedly estimates Project Mercury could generate $7.1 billion in economic value over a decade and become cash-flow positive by 2030. An Amazon spokesperson said internal forecasts are preliminary, subject to significant revision, and should not be treated as finalized plans, while noting the company is focused on delivering faster for customers. The expansion could strengthen Amazon's speed advantage against Walmart, DoorDash and Instacart, but the biggest risk is overbuilding capacity before order density justifies the investment.
AMZN · Capital · Positive Amazon's three-year plan allocates $6.8B to U.S. same-day capacity, with Project Mercury projected to add $7.1B in economic value and turn cash-flow positive by 2030.
CART · Competition · Negative Amazon's faster same-day network could strengthen its speed advantage against Instacart (Maplebear).
DASH · Competition · Negative Amazon's same-day expansion could strengthen its speed advantage against DoorDash.
WMT · Competition · Negative Amazon's same-day expansion could strengthen its speed advantage against Walmart.
DoorDash, Instacart and Uber Eats Become Retail Delivery Backbone
DoorDash, Instacart and Uber Eats have grown from restaurant-focused apps into the fulfillment backbone for thousands of U.S. retailers, turning stores themselves into same-day shipping warehouses rather than building new distribution centers as Amazon did. DoorDash, which launched grocery and convenience in mid-2020 and added home improvement in 2024, now serves 44 of the top 100 U.S. retailers, while Instacart connects more than 2,200 retail banners representing almost 100,000 stores, a network reaching more than 98% of North American households. Uber recast grocery, alcohol, convenience and general merchandise as a single Grocery & Retail business, adding Home Depot for contractors and bringing almost 9,000 Dollar Tree stores onboard in an August 2025 partnership. The shift became durable in 2024, when DoorDash posted its first annual profit under generally accepted accounting principles, $123 million on $10.7 billion in revenue, and Instacart cleared $457 million in net income. Now the platforms are extracting more from the retailers that depend on them: DoorDash charges restaurants commissions of up to 30% of each order's subtotal on its Premier plan, and Uber Eats' blended cost commonly runs 25% to 35%, according to an analysis by direct-ordering vendor Zay-OS. A joint investigation by the Groundwork Collaborative, Consumer Reports and More Perfect Union found Instacart used pricing software called Eversight to run hidden randomized experiments that could add as much as 23% to the cost of an identical item ordered from the same store at the same moment, a practice Instacart said in a July 2026 post that a few retail partners had wound down. Meanwhile, New York City's Department of Consumer and Worker Protection set a delivery-worker minimum of $22.13 for the first pay period starting on or after April 1, 2026, after a 3.2% inflation adjustment, and plans to cover all delivery apps in early 2027.
DASH · Demand · Positive DoorDash now serves 44 of the top 100 U.S. retailers and posted its first GAAP annual profit of $123M on $10.7B revenue as retailers adopt its fulfillment network.
CART · Regulation · Negative Investigation found Instacart used Eversight pricing software for hidden randomized experiments adding up to 23% to item costs, drawing regulatory scrutiny.
UBER · Demand · Positive Uber Eats recast grocery, alcohol, convenience and general merchandise as a single Grocery & Retail business, adding Home Depot and nearly 9,000 Dollar Tree stores, expanding its retail delivery network.
DLTR · Demand · Positive Dollar Tree brought almost 9,000 stores onto Uber Eats in an August 2025 partnership, expanding its same-day delivery reach.
HD · Demand · Positive Home Depot was added to Uber's Grocery & Retail business for contractors, extending its delivery fulfillment.
Morrisons partners with Instaleap to streamline online order fulfilment
Morrisons has partnered with Instaleap, the e-commerce fulfilment provider owned by Instacart, to enhance its online ordering and in-store fulfilment. Through Instaleap's technology, Morrisons will manage orders from marketplace partners including Uber Eats, Just Eat, and Deliveroo via a single unified system, and its in-store picking app will help store colleagues handle order picking more efficiently. This collaboration builds on Morrisons' existing relationship with Instacart and is part of Instacart's broader push to grow its enterprise platform globally. Instaleap, which operates in nearly 30 countries with close to 80 grocery retailers, was acquired by Instacart in April to expand its enterprise retail technology across Europe, Latin America, and the Middle East. The Morrisons deal follows Instaleap's partnership with Spar Slovenia last month to operate that retailer's e-commerce fulfilment platform.
Instacart and World Market Launch Exclusive Same-Day Delivery Partnership
Instacart and World Market have announced an exclusive partnership that makes Instacart the first and exclusive online same-day delivery partner for World Market nationwide, offering delivery in as fast as one hour with no markups. Through the Instacart Marketplace, customers can now order World Market's unique assortment of global foods, home décor, furniture, and gifts, many sourced from international artisans. World Market joins more than 2,200 retail banners on the Instacart Marketplace, and to celebrate, customers can get $15 off their first qualifying $60 purchase through September 30. Executives from both companies highlighted the convenience and expanded reach of the collaboration.
CART · Demand · Positive Instacart becomes the exclusive nationwide same-day delivery partner for World Market, expanding its marketplace assortment and orders
World Market · Demand · Positive World Market gains exclusive same-day delivery reach nationwide through Instacart's marketplace
Amazon and Walmart are leaning more heavily on their own digital platforms to reach shoppers closer to making a purchase, while other retail-media networks rely more on advertising outside their websites, according to Sensor Tower. Amazon had 56% of its retail-media ad impressions onsite in the first half of 2026, compared with 44% offsite. Walmart increased its onsite share to 44%, up 27 percentage points from a year earlier, as it sought to capture search demand from shoppers closer to purchase. By comparison, Best Buy allocated 93% of its measured impressions offsite, while Target was at 92%, and Instacart and Sephora ran entirely offsite campaigns. The broader retail-media market contracted 17% year over year to 223 billion U.S. ad impressions in the first half, with Amazon accounting for a 60% share despite a 16% decline in impressions, according to the report covering 32 U.S. retail networks.
AMZN · Demand · Positive Amazon's onsite retail-media ads dominate with 56% share, indicating strong advertiser demand for its platform.
WMT · Demand · Positive Walmart increased onsite ad share to 44%, up 27 percentage points, showing successful capture of shopper search demand.
BBY · Demand · Negative Best Buy's retail-media ads are 93% offsite, contrasting with the onsite trend, suggesting weaker performance in capturing purchase intent.
CART · Demand · Negative Instacart runs entirely offsite campaigns, missing the shift to onsite ads, which may reduce its retail-media competitiveness.
TGT · Demand · Negative Target's retail-media ads are 92% offsite, indicating a lack of alignment with the industry's move to onsite advertising.
Kroger Launches Combined Grocery and Prescription Delivery Nationwide
Kroger has rolled out a combined grocery and prescription delivery service through Instacart across nearly all of its banners, allowing customers to place a single order for both groceries and eligible prescriptions. The service connects more than 2,200 Kroger pharmacy locations to Instacart delivery and is available through Kroger websites and apps. This launch supports Kroger's omni-channel approach and aims to deepen customer loyalty in digital grocery and health services. For investors, the move links Kroger's traditional store network with its growing digital ordering channels, potentially supporting larger baskets as food, prescriptions, and everyday items are bundled into one checkout. The clearest signal of traction will be how Kroger reports digital sales and pharmacy utilization in upcoming earnings updates, including commentary on order frequency and average ticket for online baskets that include prescriptions.
KR · Demand · Positive Kroger launches combined grocery and prescription delivery nationwide, aiming to increase customer loyalty and basket size.
CART · Demand · Positive Kroger's nationwide launch of combined grocery and prescription delivery through Instacart expands Maplebear's service offering and potential order volume.
Maplebear Acquires Arpalus to Boost Inventory Intelligence
Maplebear Inc. has acquired Arpalus to strengthen its inventory intelligence capabilities in grocery retail. Arpalus adds computer vision technology that converts a quick video scan into a real-time picture of store inventory, identifying individual shelf items with more than 95% accuracy on average. This complements Instacart's existing flow of more than 10 million daily inventory signals from roughly 600,000 shoppers. The acquisition could make Instacart's inventory intelligence more precise and current, supporting greater fulfillment efficiency and more relevant AI-powered shopping experiences. Maplebear shares have gained 20.3% over the past three months, and the stock trades at a forward 12-month price-to-sales multiple of 2.51, above the industry average of 1.71.
Artificial Intelligence › AI Applications & Copilots ▲Technology
CART · Technology · Positive Acquires Arpalus to enhance inventory intelligence with computer vision, improving fulfillment and AI shopping experiences.
Instacart's AI Assistant Drives Larger Baskets and Enterprise Deals
Maplebear, operating as Instacart, is betting its new AI Assistant will accelerate platform growth after a second-quarter 2026 pilot showed orders placed through the tool generate larger basket sizes than the company's overall average order value of $115. The assistant synthesizes individual preferences, order history, real-time store inventory, and promotions to build complete carts for delivery in as fast as an hour, supported by more than 1.6 billion lifetime orders, a catalog exceeding 2 billion products, and over 10 million daily inventory signals. Enterprise partners including Stew Leonard's, The Save Mart Companies, Woodman's, and Harmon's have signed up for a white-label version, and third-party integrations with platforms like Google's Gemini broaden consumer entry points. Maplebear shares have gained 23.7% over the past three months, outperforming the industry's 3.9% rise but trailing DoorDash's 42.2% surge, while the stock trades at a forward 12-month price-to-sales multiple of 2.60, above the industry average of 1.70. Zacks consensus estimates imply current fiscal-year sales and earnings per share growth of 13.1% and 28.4%, respectively, though EPS estimates for the current and next fiscal year have been cut by 12 cents and 8 cents to $2.35 and $2.94 over the past seven days.
Instacart and Academy Sports + Outdoors team up for same-day delivery in as fast as an hour
Instacart and Academy Sports + Outdoors announced a new partnership bringing Academy's full catalog to the Instacart Marketplace for same-day delivery in as fast as an hour at no markups. The collaboration covers Academy's more than 300 stores across 21 states, offering national brands and exclusive private labels across sports, outdoor, apparel, and footwear. The launch is timed for back-to-school, fall sports, hunting season, and tailgating, with a promotional offer of $15 off a $75-plus purchase for qualifying new Academy customers through October 12th. Academy joins over 2,200 retail banners on the Instacart Marketplace.
Instacart Q2 revenue beats estimates on customer growth and enterprise expansion
Instacart reported second-quarter revenue of $1.04 billion, exceeding analyst estimates of $1.03 billion and representing 14.1% year-on-year growth. GAAP earnings per share came in at $0.45, missing the consensus estimate of $0.54 by 16.6%, while adjusted EBITDA reached $313 million, above the $297.8 million forecast. CEO Chris Rogers attributed the performance to accelerated net new customer additions, deeper engagement, and the expansion of AI-powered features such as personalized nutrition tags and enhanced substitution models. The company also highlighted growth in its advertising and enterprise segments, including new partnerships with Costco in France and Spain and Morrisons in the UK. Looking ahead, management guided for 14% growth at the midpoint for the third quarter and expects adjusted EBITDA to outpace gross transaction volume growth as it reinvests in core growth drivers.
Instacart plans North America AI assistant rollout to boost basket sizes
Instacart plans to launch its AI assistant across its North American marketplace over the next several weeks, aiming to increase order values and attract new customers. The company beat Wall Street expectations for the second quarter, driven by advertising gains and higher order values, and set third-quarter guidance reflecting first-half business momentum. BofA Securities analyst Justin Post noted that orders placed with the AI assistant have larger than average order values, and a broader rollout could be a catalyst for the stock. Oppenheimer analyst Jason Helfstein also observed that AI assistant orders are driving larger basket sizes than the corporate average. CEO Chris Rogers said the AI assistant delivers an agentic experience that removes friction and makes shopping more personalized, calling AI a meaningful growth driver for the company and the category.
Airbnb, Twilio surge while Trade Desk, Sweetgreen plunge in after-hours trading
Several companies made significant after-hours moves following their quarterly earnings reports. Airbnb surged about 7% after posting second-quarter earnings of $1.37 per share on revenues of $3.61 billion, beating analyst forecasts of $1.25 per share and $3.58 billion. Twilio jumped roughly 16% on strong current-quarter guidance, projecting adjusted earnings of $1.42 to $1.47 per share on revenue of $1.51 billion to $1.52 billion, above consensus estimates. Trade Desk tumbled 22% after its adjusted earnings of 34 cents per share and revenue of $715 million missed expectations of 40 cents and $751 million. Sweetgreen plunged 14% as its second-quarter loss of 22 cents per share on $193 million in revenue fell short of the anticipated loss of 15 cents on $195 million. DraftKings slipped over 1.5% after revenue of $1.44 billion missed the $1.51 billion estimate, though it reaffirmed its 2026 fiscal-year guidance. Cloudflare rallied 17% on upbeat guidance, while Akamai Technologies gained 12% and Instacart rose more than 8% on better-than-expected revenue. Dropbox fell nearly 6% after its non-GAAP gross margin of 81.6% narrowly missed the 81.7% consensus.
Instaleap Expands European Footprint Through Strategic Partnership With SPAR Slovenia
Instaleap, now part of Instacart, has entered a strategic partnership with SPAR Slovenia to serve as the retailer's e-commerce fulfillment platform. The collaboration will orchestrate and optimize SPAR Slovenia's e-grocery operations, last-mile delivery, and marketplace integrations across the country. Instaleap's platform will centralize online order intake, streamline in-store picking, enable dynamic delivery routing, and improve real-time operational visibility. The partnership is intended to strengthen Instaleap's presence in Europe and support SPAR Slovenia's digital modernization efforts. Instaleap works with nearly 80 retailers in close to 30 countries, and this deal reflects its focus on helping regional grocery leaders scale efficient online operations.
SPAR Slovenia · Demand · Positive SPAR Slovenia partners with Instaleap to modernize its e-grocery operations, improving efficiency and digital capabilities.
CART · Demand · Positive Instaleap, part of Instacart, gains a strategic partnership with SPAR Slovenia, expanding its European footprint and customer base.
Instacart's AI and Advertising Push Could Reshape Its Growth Outlook
Instacart is expanding its growth model beyond grocery-delivery transaction fees by leveraging artificial intelligence, retail media, and enterprise software. Advertising and other revenues rose 16% year over year to $286 million in the first quarter of 2026, supported by more than 9,000 advertising brands and over 310 Carrot Ads partners. The company's AI-powered Cart Assistant is now available to about 25% of U.S. customers, while its Storefront Pro platform powers more than 380 grocery e-commerce sites and recently launched with Costco in Spain and France. However, cost of revenues climbed 24% to $281 million, outpacing total revenue growth of 14%, driven by higher credit-card processing fees, publisher payments, and depreciation. The stock carries a Zacks Rank #2 (Buy) and a VGM Score of A, though the growth thesis depends on profitable scaling amid regulatory and fulfillment cost pressures.
Artificial Intelligence › AI Applications & Copilots ▲Technology
CART · Demand · Positive Advertising and other revenues rose 16% to $286M, with over 9,000 brands and 310 Carrot Ads partners; AI Cart Assistant and Storefront Pro expanding.
Instacart Posts Strong Revenue Growth but Faces Margin Pressure
Maplebear Inc., doing business as Instacart, reported first-quarter revenue of $1.019 billion, a 14% year-over-year increase that beat the Zacks Consensus Estimate of $1.005 billion, while gross transaction value rose 13% to $10.288 billion. Earnings came in at 57 cents per share, up 54% from a year ago but missing the consensus by a penny. GAAP gross margin fell to 72% from 75% a year earlier, and gross profit as a percentage of gross transaction value slipped to 7.2% from 7.4%, as cost of revenue climbed 24% to $281 million. The company generated $253 million in free cash flow, repurchased $349 million of shares, and later added $1 billion to its share-repurchase authorization. CART trades at 2.27 times forward 12-month sales, below its two-year median of 2.81 times but above the Zacks sub-industry average of 1.92 times and the Zacks Retail-Wholesale sector average of 1.47 times.
Tractor Supply launches Instacart same-day delivery from over 2,400 stores
Tractor Supply has launched a nationwide partnership with Instacart, offering same-day delivery from more than 2,400 of its stores across the United States. The rollout expands access to Tractor Supply's assortment for customers who prefer online ordering and rapid delivery. The deal arrives as the stock faces significant pressure, with shares trading at $29.64 and down 41.7% year to date and 48.7% over the past year. The move places Tractor Supply more firmly in same-day delivery and rural e-commerce, with key investor questions centering on customer adoption, impact on in-store traffic, and how Instacart volumes contribute to the company's broader omnichannel strategy.
StockStory Highlights Pinterest, Robinhood, and Instacart as Quality Compounders
StockStory identified Pinterest, Robinhood, and Instacart as three quality compounders to target this week. Pinterest, with a market cap of $12.78 billion, has grown monthly active users by 11.2% annually over two years and posted 40.9% annual EPS growth, supported by a 26.5% free cash flow margin. Robinhood, valued at $89.4 billion, saw average revenue per user rise 143% annually over two years and EPS grow 95.7% annually, reflecting improved monetization and cash conversion. Instacart, at a $10.99 billion market cap, boasts a 74.1% gross margin and 28.3% EBITDA margin, with free cash flow margin expanding by 12.5 percentage points.
Empire State Realty Trust signs Instacart lease, lifts 111 W. 33rd Street to full occupancy
Empire State Realty Trust signed a new office lease with Instacart for 26,134 square feet at 111 West 33rd Street in the second quarter. The company also signed a 7,100-square-foot lease with Hansa Biopharma early in the third quarter, bringing 111 West 33rd Street to 100% leased. Additionally, 1350 Broadway is now fully leased following 12 new leases and tenant expansion deals over the past 12 months. Executive Vice President and Chief Revenue Officer Ryan Kass said the full occupancy at both properties reflects strong demand for Manhattan office space in New York City, while noting the company still has two large office spaces available for lease in 2026.
0RC7.LSE · Demand · Positive Hansa Biopharma signed a 7,100 sq ft lease at 111 W. 33rd Street, showing office space demand.
CART · Demand · Positive Instacart (Maplebear) signed a 26,134 sq ft office lease with Empire State Realty Trust, indicating physical office expansion.
Instacart announced on Thursday that it has acquired computer vision company Arpalus, which develops shelf intelligence technology for grocery retail. Financial terms were not disclosed. Arpalus' technology turns a quick video scan of a store shelf into a real-time picture of what is actually there, identifying individual items with more than 95% accuracy on average, even in challenging store conditions. The technology runs on any smartphone or camera-equipped device, allowing Instacart's network of 600,000 shoppers to generate real-time shelf intelligence at scale using their existing app. The acquisition is expected to drive fulfillment efficiencies, improve inventory accuracy for retailers and brands, and create new earning opportunities for shoppers.
Maplebear Could Be 4% Undervalued as Retail Tech Narrative Builds
Maplebear, better known as Instacart, could be about 4% undervalued according to a widely followed narrative that places its fair value at $50.19 per share, above the last close of $48.39. The stock has gained 17.32% over the past 30 days and 21.04% over 90 days, though the one-year total shareholder return stands at just 0.83%. The bullish case rests on deepening enterprise partnerships and a growing suite of omnichannel retailer integrations such as Storefront, Carrot Ads, Caper Carts, and Carrot Tags, which are increasing stickiness with major retail chains and driving higher-margin, non-transaction-based revenues from advertising and in-store technology. However, the story also carries risks from rising labor and regulatory pressures as well as tougher competition that could squeeze margins and challenge the fair value thesis.
LegalZoom, Angi, Instacart, and Chewy Stocks Rise on Improved Consumer Outlook
Shares of LegalZoom, Angi, Instacart, and Chewy rose in afternoon trading after consumer confidence edged up to 91.2 in June. While the Present Situation Index contracted, the Expectations Index strengthened, signaling improved consumer outlook for income, business, and labor market conditions. LegalZoom gained 3.1%, Angi rose 3%, Instacart climbed 3.4%, and Chewy advanced 3.2%. The uptick in forward-looking optimism suggests consumers may increase spending on non-essential goods and services, benefiting consumer discretionary companies.
Instacart shares fall 5.7% on Kroger-Giant Eagle deal concerns
Instacart shares fell 5.7% in afternoon trading after Kroger announced a $1.65 billion acquisition of Giant Eagle, sparking concerns that increasing consolidation in the grocery sector could negatively affect Instacart's delivery marketplace. The transaction raised investor worries that a more consolidated grocery industry might reduce Instacart's role connecting various grocers with consumers. The stock has had 16 moves greater than 5% over the last year, indicating today's drop is meaningful but not fundamentally changing market perception. Instacart remains up 2.2% year-to-date at $44.86 per share, still 13.4% below its 52-week high of $51.77 from August 2025.
Instacart Launches Shoppable Video Immersive Feed to Boost Ad Revenue
Instacart, operating as Maplebear, rolled out a new shoppable vertical video feature called Immersive Feed, allowing customers to watch short recipe clips and add ingredients directly to their online grocery carts within retailer storefronts. The launch aims to strengthen Instacart's higher-margin retail media business by linking advertising content with immediate purchase behavior. The feature arrives alongside Instacart's first-quarter 2026 results, where revenue reached US$1,019 million and net income was US$144 million, highlighting the importance of advertising and enterprise products to earnings. While Immersive Feed could deepen advertiser demand and support a more profitable revenue mix over time, its near-term impact on higher-margin ad revenue remains uncertain and may not be immediately material. Some optimistic analysts see tools like Immersive Feed reinforcing a path toward about US$5.0 billion in revenue and US$1.0 billion in earnings by 2028, though other forecasts worry about advertising growth slowing despite new formats.
Instacart Stock Rises on New Shoppable Video Feature and Analyst Upgrade
Instacart shares rose 4.2% after the company launched Immersive Feed, a shoppable vertical video feature for advertisers, and received a positive analyst rating. Citizens reiterated a Market Outperform rating and a $60 price target, highlighting how artificial intelligence could simplify shopping by letting customers order all ingredients for a meal at once. The stock traded at $46.14, still 10.9% below its 52-week high of $51.77 from August 2025.
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