Maplebear (CART) Q3 2026 earnings summary

Executive summary

• Q3 revenue rose 17% YoY to $1.095B; GTV increased 15% to $10.528B and orders rose 10% to 91.4M.

• Adjusted EBITDA increased 23% YoY to $342M; net income was $147M.

• Entered a definitive cash-and-stock acquisition agreement with DoorDash at an equity value of ~$17B.

Financial highlights

• Q3 revenue was $1.095B versus $939M YoY; gross profit rose 14% to $786M and operating income was $174M versus $166M.

• Net income was $147M versus $144M; diluted EPS was $0.60 versus $0.51.

• Nine-month revenue rose 15% to $3.157B; net income was $403M versus $366M and operating income was $499M versus $401M.

• Nine-month Adjusted EBITDA increased to $955M from $784M; free cash flow rose to $1.040B from $739M.

Outlook and guidance

• Suspended financial guidance and withdrew previously issued long-term guidance while the DoorDash transaction is pending; cancelled the November 5, 2026 earnings call.

• Caper Cart wind-down is expected to be substantially complete by Q2 2027; estimated pre-tax charges are $55M–$80M, mainly in Q4 2026, including $30M–$50M in future cash expenditures.

• Cash, cash equivalents, and marketable securities are expected to cover anticipated working-capital and capital-expenditure needs for at least 12 months and beyond.