Maplebear winds down Caper Cart operations, expects $55 million to $80 million in charges
The board decided Oct. 25 to re-align resources, and the wind-down is expected to be substantially completed by the end of the second quarter of 2027.
Key takeaways
- Maplebear Inc. (CART) said in a regulatory filing that its board decided on Oct. 25, 2026 to wind down Caper Cart operations. The company expects pre-tax charges of $55 million to $80 million, primarily in the fourth quarter of 2026, with the wind-down substantially completed by the end of the second quarter of 2027.
Maplebear Inc. (CART) said in a regulatory filing that its board decided on Oct. 25, 2026 to wind down Caper Cart operations. The move is meant to re-align resources to support the company's strategic priorities.
The company expects the wind-down to be substantially completed by the end of the second quarter of 2027.
The company expects pre-tax charges of approximately $55 million to $80 million tied to the wind-down, primarily in the fourth quarter of 2026. It expects those charges to be substantially completed by the end of the second quarter of 2027.
Of that range, about $21 million to $36 million relates to terminating contractual obligations. Another $22 million to $27 million is for impairments of long-lived assets tied to Caper Cart operations.
Employee termination costs are estimated at $12 million to $17 million.
The company expects $30 million to $50 million of the charges to result in future cash expenditures.
Maplebear expects to exclude the restructuring costs from Adjusted EBITDA, or earnings before interest, taxes, depreciation and amortization as the company adjusts it. The filing says this is consistent with the company's past presentation.
The filing cautions that the charges are subject to assumptions and other factors, including local law requirements in various jurisdictions. Actual expenses, including cash amounts, and the timing of them may differ materially from the estimates.
The company intends to reinvest any savings from the wind-down into strategic growth initiatives. The filing does not give the number of employees affected or the amount of expected savings.