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Instacart’s $10.35 Billion Grocery Engine: Can AI Push Growth Into A New Phase?

Instacart, a leading grocery technology platform, reported a solid second quarter of 2026 with gross transaction value (GTV) growing 14% year-over-year to $10.35 billion, driven primarily by increased monthly customers. Total revenue rose 14% to $1.04 billion, supported by a 16% growth in advertising and other revenue, which outpaced GTV growth. The company’s average order value increased 4% to $115, underlining deeper customer engagement. Adjusted EBITDA improved 19% year-over-year to $313 million, and operating cash flow nearly doubled to $493 million, boosted in part by the collection of a large accounts receivable balance. The company repurchased $325 million in shares during the quarter and maintains about $1 billion in cash and equivalents. Operationally, Instacart emphasized ongoing improvements in its marketplace fundamentals.