DASH

MKT CAP:$77B

DoorDash, Inc.

Market Cap

$77B

Communication Services·Internet Content & Information·🇺🇸 United States·NASDAQ

Communication·Internet·🇺🇸·NASDAQ

Stock Price

$177.12-$42.67 (-19.41%)

Apr 24, 2026

Company Details

DoorDash, Inc. operates a logistics platform that connects merchants, consumers, and dashers in the United States and internationally. It operates DoorDash and Wolt marketplaces, which provides an array of services that enable merchants to ...

CEO

Tony Xu

IPO Date

Dec 9, 2020

Website

www.doordash.com

Key Metrics TTM

Revenue

$13.7B

+49.3% YoY

Net Income

$935M

EPS (Diluted)

$2.12

Free Cash Flow

$1.8B

Revenue / Share

$30.97

Gross Margin

50.9%

Operating Margin

5.3%

Net Margin

6.8%

FCF Margin

13.3%

P/S

5.6x

P/E

82.1x

Earnings Reports

Q1 2026

May 5, 2026

PENDING

FY 2025

Feb 18, 2026

$13.7BEPS $2.13

Q4 2025

Feb 18, 2026

$4.0BEPS $0.48

Q3 2025

Nov 6, 2025

$3.4B+27.3%EPS $0.55

Q2 2025

Aug 6, 2025

$3.3B+24.9%EPS $0.65

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q4 20	$970M	$501M	-$305M
Q1 21	$1.1B	$514M	-$99M
Q2 21	$1.2B	$681M	-$99M
Q3 21	$1.3B	$690M	-$100M
Q4 21	$1.3B	$665M	-$154M
Q1 22	$1.5B	$693M	-$173M
Q2 22	$1.6B	$728M	-$273M
Q3 22	$1.7B	$770M	-$308M
Q4 22	$1.8B	$804M	-$370M
Q1 23	$2.0B	$966M	-$171M
Q2 24	$2.6B	$1.2B	-$201M
Q3 24	$2.7B	$1.3B	$107M
Q1 25	$3.0B	$1.5B	$155M
Q2 25	$3.3B	$1.7B	$163M
Q3 25	$3.4B	$1.8B	$258M
Q4 25	$4.0B	$2.0B	$147M

Valuation

Quarter	P/S	P/E
Q4 20	16.4x	—
Q1 21	11.8x	—
Q2 21	14.1x	—
Q3 21	16.2x	—
Q4 21	10.4x	—
Q1 22	7.6x	—
Q2 22	4.6x	—
Q3 22	3.2x	—
Q4 22	2.8x	—
Q1 23	3.5x	—
Q2 24	5.5x	—
Q3 24	6.5x	—
Q1 25	7.5x	2099.9x
Q2 25	9.0x	217.0x
Q3 25	9.3x	131.0x
Q4 25	7.2x	106.0x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q4 20	-$63M	-$100M
Q1 21	$166M	$112M
Q2 21	$252M	$198M
Q3 21	$107M	$48M
Q4 21	$167M	$97M
Q1 22	-$20M	-$91M
Q2 22	$165M	$86M
Q3 22	$199M	$99M
Q4 22	$23M	-$73M
Q1 23	$397M	$316M
Q2 24	$530M	$451M
Q3 24	$531M	$444M
Q1 25	$635M	$494M
Q2 25	$504M	$355M
Q3 25	$871M	$723M
Q4 25	$421M	$254M

Capital Expenditures

Quarter	CapEx
Q4 20	$37M
Q1 21	$54M
Q2 21	$54M
Q3 21	$59M
Q4 21	$70M
Q1 22	$71M
Q2 22	$79M
Q3 22	$100M
Q4 22	$96M
Q1 23	$81M
Q2 24	$79M
Q3 24	$87M
Q1 25	$141M
Q2 25	$149M
Q3 25	$148M
Q4 25	$167M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q4 20	+225.5%	+193.1%
Q1 21	+197.5%	+142.5%
Q2 21	+83.1%	+106.0%
Q3 21	+45.1%	+50.4%
Q4 21	+34.0%	+14.0%
Q1 22	+35.2%	+38.5%
Q2 22	+30.1%	+40.9%
Q3 22	+33.4%	+46.1%
Q4 22	+39.8%	+50.5%
Q1 23	+39.8%	+35.4%
Q2 24	+63.6%	+50.5%
Q3 24	+59.1%	+29.4%
Q1 25	+66.8%	+31.5%
Q2 25	+61.4%	+41.5%
Q3 25	+31.0%	+12.6%
Q4 25	+46.2%	+46.5%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q4 20	$311M	32.1%
Q1 21	$97M	9.0%
Q2 21	$138M	11.2%
Q3 21	$122M	9.6%
Q4 21	$129M	9.9%
Q1 22	$129M	8.9%
Q2 22	$231M	14.4%
Q3 22	$249M	14.6%
Q4 22	$280M	15.4%
Q1 23	$230M	11.3%
Q2 24	$302M	11.5%
Q3 24	$274M	10.1%
Q1 25	$235M	7.8%
Q2 25	$282M	8.6%
Q3 25	$258M	7.5%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q4 20	$209M	$219M	$347M
Q1 21	$82M	$169M	$333M
Q2 21	$100M	$216M	$427M
Q3 21	$115M	$188M	$446M
Q4 21	$133M	$224M	$413M
Q1 22	$148M	$245M	$414M
Q2 22	$205M	$294M	$421M
Q3 22	$226M	$316M	$418M
Q4 22	$250M	$292M	$429M
Q1 23	$231M	$285M	$496M
Q2 24	$303M	$494M	$509M
Q3 24	$289M	$315M	$483M
Q1 25	$306M	$332M	$586M
Q2 25	$351M	$388M	$607M
Q3 25	$355M	$400M	$576M
Q4 25	$419M	$480M	$707M

Revenue Segments

Quarter	Reportable Segment
Q1 25	$3.0B
Q2 25	$3.3B
Q3 25	$3.4B
Q4 25	$4.0B

Revenue by Geography

Quarter	Non-US	United States
Q1 21	$5M	$1.1B
Q2 21	$6M	$1.2B
Q3 21	$4M	$1.3B
Q4 21	—	$1.3B
Q1 22	$11M	$1.4B
Q2 22	$47M	$1.6B
Q3 22	$121M	$1.6B
Q4 22	$153M	$1.7B
Q1 23	$189M	$1.8B
Q2 24	$312M	$2.3B
Q3 24	$345M	$2.4B
Q1 25	$376M	$2.7B
Q2 25	$455M	$2.8B
Q3 25	$520M	$2.9B
Q4 25	$906M	$3.0B

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$2.2B	$1.4B	$3.6B
Q2 22	$2.7B	$1.3B	$4.0B
Q3 22	$2.3B	$1.5B	$3.8B
Q4 22	$2.0B	$1.5B	$3.5B
Q1 23	$1.8B	$1.6B	$3.4B
Q2 23	$1.9B	$1.6B	$3.5B
Q3 23	$2.3B	$1.5B	$3.8B
Q4 23	$2.7B	$1.4B	$4.1B
Q1 24	$3.1B	$1.4B	$4.5B
Q2 24	$3.4B	$1.4B	$4.9B
Q3 24	$3.7B	$1.3B	$5.0B
Q4 24	$4.0B	$1.3B	$5.3B
Q1 25	$4.5B	$1.3B	$5.8B
Q2 25	$3.9B	$1.1B	$5.0B
Q3 25	$3.3B	$964M	$4.2B
Q4 25	$4.4B	$1.1B	$5.5B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q4 20	117M	+159.7%	+166.5%
Q1 21	328M	+180.4%	+642.2%
Q2 21	335M	+2.1%	+651.9%
Q3 21	340M	+1.6%	+655.7%
Q4 21	344M	+1.3%	+194.6%
Q1 22	349M	+1.4%	+6.5%
Q2 22	364M	+4.2%	+8.7%
Q3 22	385M	+5.7%	+13.1%
Q4 22	387M	+0.6%	+12.4%
Q1 23	390M	+0.8%	+11.8%
Q2 24	410M	+5.1%	+12.8%
Q3 24	428M	+4.3%	+11.2%
Q1 25	436M	+1.8%	+12.5%
Q2 25	438M	+0.6%	+12.3%
Q3 25	442M	+0.8%	+7.6%
Q4 25	443M	+0.2%	+3.5%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q4 20	$249.6K	4K
Q1 21	$277.1K	4K
Q2 21	$318.1K	4K
Q3 21	$328.1K	4K
Q4 21	$151.2K	9K
Q1 22	$169.3K	9K
Q2 22	$187.0K	9K
Q3 22	$197.8K	9K
Q4 22	$108.2K	17K
Q1 23	$121.1K	17K
Q2 24	$136.3K	19K
Q3 24	$140.2K	19K
Q1 25	$127.9K	24K
Q2 25	$138.6K	24K
Q3 25	$145.4K	24K
Q4 25	$126.0K	31K

Revenue / Employee