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Maplebear (Instacart): Embedding Grocery Into AI Platforms—Why Its Partnerships Could Matter More Than Delivery Volume!

Instacart’s fourth quarter 2025 earnings results present a mixed picture of robust growth accompanied by strategic challenges and opportunities. The company reported its strongest gross transaction value (GTV) growth in three years, reaching $9.85 billion—a 14% year-over-year increase. This growth was driven by a 16% increase in orders, although average order value saw a slight decrease due to an uptick in restaurant orders. The company’s transaction revenue grew by 13% year-over-year, maintaining its representation of 7.1% of GTV, compensating for the decrease in average order value through improved fulfillment efficiencies. The advertising and other revenue segment delivered a 10% year-over-year growth, fueled by Instacart’s strategic diversification efforts across its advertising platforms both on and off its marketplace. Increasing collaboration with over 310 retailer-owned sites and partnerships with significant names like Meta, Google, Pinterest, and TikTok have strengthened Instacart’s ad ecosystem.