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Maplebear (CART) Q4 FY2023 earnings: revenue $803 million

Maplebear Inc. (CART) reported revenue of $803 million for Q4 FY2023, the quarter ended 31 December 2023. Net income was $135 million, and diluted earnings per share $8.43. The figures are the company's own, from the 10-K it filed with the SEC on 5 March 2024.

Revenue$803 million
Net income$135 million
Diluted EPS$8.43
QuarterQ4 FY2023ended 31 December 2023

The quarter, against the one before and a year earlier

LineQ4 FY2023Q3 FY2023A year earlierChange on the year
Revenue803764n/an/a
Cost of revenue195203n/an/a
Gross profit608561n/an/a
Gross margin75.7%73.4%n/a
Research and development2051,850n/an/a
Operating income46.0-2,457n/an/a
Operating margin5.7%-321.6%n/a
Pre-tax income72.0-2,439n/an/a
Income tax-63.0-440n/an/a
Effective tax rate-87.5%n/an/a
Net income135-1,999n/an/a
Net margin16.8%-261.6%n/a
Diluted EPS$8.43-$20.86n/an/a
$ million except per share.
Read moreFourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

LineQ4 FY2023Q3 FY2023A year earlierChange on the year
Operating cash flow233111n/an/a
Capital expenditure16.016.0n/an/a
Free cash flow21795.0n/an/a
Free cash flow margin27.0%12.4%n/a
Cash from investing-11.057.0n/an/a
Cash from financing-36.07.0n/an/a
Depreciation and amortisation10.011.0n/an/a
Share-based compensation1422,605n/an/a
Buybacks36.00.0n/an/a
Diluted shares, weighted131m96mn/an/a
Shares outstanding at period end279m280mn/an/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

LineQ4 FY2023Q3 FY2023A year earlierChange on the year
Shareholders' equity3,7503,484n/an/a
Debt0.0n/an/an/a
Operating lease liabilities27.030.0n/an/a
Other liabilities950907n/an/a
Total liabilities and equity4,7274,421n/an/a
Fixed assets135108n/an/a
Goodwill318318n/an/a
Intangible assets77.082.0n/an/a
Investments49.056.0n/an/a
Cash and equivalents2,1372,010n/an/a
Receivables853841n/an/a
Other assets1,1581,006n/an/a
Total assets4,7274,421n/an/a

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue7648038208238528838979149399921,0191,043
Cost of revenue203195206200211219226236247275281292
Gross profit561608614623641664671678692717738751
Gross margin73%76%75%76%75%75%75%74%74%72%72%72%
R&D1,850205115185149155144166169171164202
Operating income-2,45746.014452.013815511012416698.0182143
Operating margin-322%6%18%6%16%18%12%14%18%10%18%14%
Pre-tax income-2,43972.016568.0153166124142181109n/an/a
Tax raten/a-88%21%10%23%11%15%18%20%26%n/an/a
Net income-1,99913513061.011814810611614481.0144111
Net margin-262%17%16%7%14%17%12%13%15%8%14%11%
Diluted EPS-$20.86$8.43$0.43$0.20$0.42$0.53$0.37$0.41$0.51$0.31$0.57$0.45
Operating cash flow111233105244185153298203287183268494
Capital expenditure16.016.014.024.014.012.018.016.015.012.016.013.0
Free cash flow95.021791.0220171141280187272171252481
Buybacks0.036.07153253575.089.012162.01,114359324
Shares outstanding280m279m266m264m257m261m263m263m266m243m237m233m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless. EPS is as filed for each quarter. A split or a bonus issue changes the share count, so quarters before it are on the old count.

Source

10-K for the period ended 31 December 2023, filed 5 March 2024, accession 0001579091-24-000027: the filing on EDGAR. All of Maplebear Inc.'s filings: EDGAR company page.

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