Maplebear Inc. (Instacart) Announces Caper Cart Operations Wind-Down and Up to $80M in Restructuring Charges

Executive Summary

On October 25, 2026, the Board of Directors of Maplebear Inc. (Instacart) decided to wind down operations of Caper Cart (the smart shopping cart technology acquired by the company). The restructuring is aimed at reallocating capital and operational focus toward core strategic priorities and growth initiatives.

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Financial & Operational Impact

1. Total Estimated Pre-Tax Charges:

   • Estimated range: $55 million to $80 million, expected to be recorded primarily in Q4 2026, with completion by the end of Q2 2027.

2. Breakdown of Restructuring Costs:

   • Contract Termination Costs: $21 million to $36 million.
   • Asset Impairments: $22 million to $27 million related to long-lived assets dedicated to Caper Cart operations.
   • Severance & Employee Termination Costs: $12 million to $17 million.

3. Cash Flow Implications:

   • Cash outlays are expected to be between $30 million and $50 million over the course of the wind-down period.

4. Adjusted EBITDA Treatment:

   • In line with Maplebear's historical reporting conventions, these restructuring charges will be excluded from non-GAAP Adjusted EBITDA.

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Strategic Implications

• Capital Reallocation: Instacart management plans to redeploy anticipated ongoing operational cost savings into core online grocery marketplace features, advertising solutions, and other higher-margin software initiatives.
• Risk Factors: As noted in the filing, final cash and non-cash charges may fluctuate based on jurisdictional labor and contractual requirements.