Maplebear Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Maplebear Inc. has submitted its 2023 10-K filing detailing financial performance and capital structure.</b>

AI Summary

Maplebear Inc. (CART) filed a Annual Report (10-K) with the SEC on March 5, 2024. Maplebear Inc. filed its 2023 Form 10-K on March 5, 2024, reporting on the fiscal year ending December 31, 2023. The filing covers financial data and operational details for the period. Key financial statement items such as common stock, additional paid-in capital, and retained earnings are detailed for fiscal years 2020 through 2023. Specific preferred stock series, including Series A Redeemable Convertible Preferred Stock, are also itemized. The company's business address is listed as 50 Beale Street, Suite 600, San Francisco, CA 94105.

Why It Matters

For investors and stakeholders tracking Maplebear Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Maplebear Inc.'s financial position and operational results for the fiscal year 2023, crucial for investors to assess the company's performance and outlook. The detailed breakdown of equity components, including various classes of preferred stock, offers insight into the company's capitalization and potential future dilution or conversion events.

Risk Assessment

Risk Level: low — Maplebear Inc. shows low risk based on this filing. The filing is a standard annual report (10-K) and does not contain immediate red flags or significant negative developments, indicating a routine disclosure.

Analyst Insight

Review the detailed financial statements and disclosures within the 10-K to understand Maplebear Inc.'s financial health and strategic direction for 2023.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reporting period)
• 2024-03-05 — Filing Date (Date of submission)
• 0001579091-24-000027 — Accession Number (Unique identifier for the filing)
• 7389 — SIC Code (Standard Industrial Classification)

Key Players & Entities

• Maplebear Inc. (company) — Filer name
• 2023-12-31 (date) — Fiscal year end
• 2024-03-05 (date) — Filing date
• 50 Beale Street, Suite 600 (address) — Business address
• San Francisco (location) — Business address city
• CA (location) — Business address state
• 94105 (postal_code) — Business address zip
• CART (ticker) — Ticker symbol

FAQ

Industry Context

Maplebear Inc. operates within the business services sector, as indicated by its SIC code 7389.

Regulatory Implications

The filing is a standard 10-K report under the Securities Exchange Act of 1934, requiring public companies to provide comprehensive annual financial information.

What Investors Should Do

1. Analyze the detailed financial statements (balance sheets, income statements, cash flow statements) for the fiscal years 2020-2023.
2. Examine the breakdown of equity, including common stock, additional paid-in capital, and various series of redeemable convertible preferred stock.
3. Review any disclosed risk factors or management's discussion and analysis (MD&A) for insights into the company's operations and outlook.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K.
• 2024-03-05: Filing Date — Date Maplebear Inc. submitted its 10-K to the SEC.

Year-Over-Year Comparison

This is the initial 10-K filing for the fiscal year ending December 31, 2023, as indicated by the accession number format and the absence of prior year comparative data within the provided snippet.

Key Financial Figures

• $0.0001 — ich registered Common Stock, par value $0.0001 per share CART Nasdaq Global Select Mar
• $23.47 — 31, 2023, based on the closing price of $23.47 for shares of the registrant's common s

Filing Documents

• cart-20231231.htm (10-K) — 3117KB
• q4-2023exhibit42.htm (EX-4.2) — 40KB
• q4-2023exhibit211.htm (EX-21.1) — 3KB
• q4-2023exhibit231.htm (EX-23.1) — 2KB
• q4-2023exhibit311.htm (EX-31.1) — 9KB
• q4-2023exhibit312.htm (EX-31.2) — 9KB
• q4-2023exhibit321.htm (EX-32.1) — 5KB
• q4-2023exhibit971.htm (EX-97.1) — 41KB
• cart-20231231_g1.jpg (GRAPHIC) — 63KB
• 0001579091-24-000027.txt (&nbsp;) — 14178KB
• cart-20231231.xsd (EX-101.SCH) — 86KB
• cart-20231231_cal.xml (EX-101.CAL) — 122KB
• cart-20231231_def.xml (EX-101.DEF) — 506KB
• cart-20231231_lab.xml (EX-101.LAB) — 1130KB
• cart-20231231_pre.xml (EX-101.PRE) — 762KB
• cart-20231231_htm.xml (XML) — 2152KB

Risk Factors

Item 1A. Risk Factors 14

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 63 Item 1C. C ybersecurity 63

Properties

Item 2. Properties 64

Legal Proceedings

Item 3. Legal Proceedings 64

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 66 Part II

Market for Registrant ' s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5. Market for Registrant ' s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 67

[Reserved]

Item 6. [Reserved] 69

Management ' s Discussion and Analysis of Financial Condition and Results of Operations

Item 7. Management ' s Discussion and Analysis of Financial Condition and Results of Operations 70

Quantitative and Qualitative Disclosures About Market Risk

Item 7A. Quantitative and Qualitative Disclosures About Market Risk 95

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data 97

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 149

Controls and Procedures

Item 9A. Controls and Procedures 149

Other Information

Item 9B. Other Information 149

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 150 Part III

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance 151

Executive Compensation

Item 11. Executive Compensation 151

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 151

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence 151

Principal Accountant Fees and Services

Item 14. Principal Accountant Fees and Services 151 Part IV

Exhibit and Financial Statement Schedules

Item 15. Exhibit and Financial Statement Schedules 152

Form 10-K Summary

Item 16. Form 10-K Summary 153

Signatures

Signatures 154 2 Ta ble of Contents SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K contains forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, about us and our industry that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this Annual Report on Form 10-K, including statements regarding our future results of operations or financial condition, business strategy, and plans and objectives of management for future operations are forward-looking statements. In some cases, you can identify forward-looking statements because they contain words such as "anticipate," "believe," "contemplate," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "toward," "will," or "would," or the negative of these words or other similar terms or expressions. These forward-looking statements include, but are not limited to, statements concerning the following: our expectations regarding our financial performance, including revenue, cost of revenue, gross profit, operating expenses, net income, and key metrics such as gross transaction value ("GTV") and orders, and our ability to maintain or increase future profitability and generate profitable growth over time; macroeconomic and industry trends, including the impact of inflation, rising interest rates, the effects of supply chain challenges, the cessation of government aid, and geopolitical conflicts; our ability to effectively manage our growth and plan for and execute growth strategies and initiatives; anticipated trends, growth rates, and challenges in our financial performance, key metrics, and business and in the markets in which we operate; our ability to attract new customers and shoppers and maintain and/or increase engagement of customers and shoppers; our ability to expand our offerings to existing

Business

Item 1. Business OVERVIEW Instacart is powering the future of grocery through technology. We partner with retailers to help them successfully navigate the digital transformation of their businesses. Instacart was founded in 2012 to bring the grocery industry online and help make grocery shopping effortless. We started by understanding what consumers want and then built enterprise-grade technologies that allow retailers to meet those needs. We want to enable any retailer, large or small, to drive success both online and in-store and serve their customers better in all of the ways they choose to shop. As of December 31, 2023, more than 1,500 national, regional, and local retail banners partner with Instacart. We have demonstrated our ability to help our retail partners drive strong growth and stay competitive in a complex and increasingly digital industry. Instacart invented a new model for online grocery shopping by offering consumers on-demand delivery from the stores they know and trust. Retailers reach customers through both Instacart Marketplace, where customers can shop from their favorite retailers through our app or website, and retailers' owned and operated online storefronts that are powered by Instacart Enterprise Platform, our end-to-end technology solution encompassing eCommerce, fulfillment, Connected Stores, ads and marketing, and insights. When shopping for groceries, consumers want selection, quality, value, and convenience, and they shop in many different ways. Instacart started as a way for households to conveniently manage their weekly grocery shopping, a recurring and high order value consumer use case. Today, customers can place orders for delivery or pickup across a variety of use cases including the weekly shop, bulk stock-up, convenience, and special occasions. Customers can select the fulfillment option and speed that best serve their needs. For example, a busy parent may prefer the reliability of having their family's groceries deli

View Full Filing

View this 10-K filing on SEC EDGAR