DDL

MKT CAP:$560M

Dingdong (Cayman) Limited

Market Cap

$560M

Consumer Defensive·Grocery Stores·🇨🇳 China·NYSE

Consumer Def.·Grocery Stores·🇨🇳·NYSE

Stock Price

$2.61-$0.05 (-1.88%)

Apr 23, 2026

Company Details

Dingdong (Cayman) Limited operates an e-commerce company in China. The company offers fresh produce, meat, seafood, prepared food, and other food products, such as dairy and bakery products, snacks, oil, seasonings, and beverages. It operat...

CEO

Song Wang

IPO Date

Jun 29, 2021

Website

www.100.me

Key Metrics TTM

Revenue

$3.4B

+1.1% YoY

Net Income

$18M

EPS (Diluted)

$0.08

Free Cash Flow

-$90M

Revenue / Share

$15.17

Gross Margin

23.9%

Operating Margin

0.1%

Net Margin

0.5%

FCF Margin

-2.6%

P/S

0.2x

P/E

30.3x

Earnings Reports

Q1 2026

May 15, 2026

PENDING

FY 2025

Dec 30, 2025

$3.5BEPS $0.14

Q4 2025

Mar 5, 2026

$900MEPS $0.02

Q3 2025

Nov 13, 2025

$973MEPS $0.05

Q1 2025

May 16, 2025

$801M+9.1%EPS $0.01

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 20	$380M	$101M	-$43M
Q2 20	$382M	$79M	-$116M
Q3 20	$429M	$75M	-$123M
Q4 20	$466M	$70M	-$179M
Q1 21	$556M	$105M	-$195M
Q2 21	$679M	$99M	-$283M
Q3 21	$904M	$165M	-$295M
Q4 21	$801M	$222M	-$152M
Q1 22	$795M	$229M	-$67M
Q3 22	$868M	$261M	-$52M
Q1 24	$734M	$224M	-$2M
Q1 25	$801M	$239M	-$3M
Q3 25	$973M	$281M	$9M
Q4 25	$900M	$69M	-$1M

Valuation

Quarter	P/S	P/E
Q1 20	—	—
Q2 20	—	—
Q3 20	—	—
Q4 20	0.3x	—
Q1 21	0.3x	—
Q2 21	0.3x	—
Q3 21	0.2x	—
Q4 21	0.2x	—
Q1 22	0.2x	—
Q3 22	0.2x	—
Q1 24	0.2x	—
Q1 25	0.2x	—
Q3 25	0.2x	—
Q4 25	0.2x	30.3x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 20	$2M	-$2M
Q2 20	-$78M	-$78M
Q3 20	-$90M	-$90M
Q4 20	-$135M	-$167M
Q1 21	-$148M	-$164M
Q2 21	-$237M	-$237M
Q3 21	-$185M	-$185M
Q4 21	-$257M	-$307M
Q1 22	-$56M	-$56M
Q3 22	-$60M	-$60M
Q1 24	$14M	$14M
Q1 25	$12M	$12M

Capital Expenditures

Quarter	CapEx
Q1 20	$4M
Q2 20	$0
Q3 20	$0
Q4 20	$32M
Q1 21	$16M
Q2 21	$0
Q3 21	$0
Q4 21	$50M
Q1 22	$0
Q3 22	$0
Q1 24	$0
Q1 25	$0

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 21	+46.0%	+77.2%
Q2 21	+77.9%	+93.3%
Q3 21	+111.0%	+117.3%
Q4 21	+72.0%	+47.7%
Q1 22	+43.2%	+15.0%
Q3 22	+27.9%	-4.4%
Q1 24	-18.8%	-38.7%
Q1 25	-0.1%	-15.7%
Q3 25	+22.4%	+11.8%
Q4 25	+3.6%	-2.1%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 20	$111.6K	0.0%
Q2 20	$21M	5.5%
Q3 20	$262.3K	0.1%
Q4 20	$984.7K	0.2%
Q1 21	$1M	0.2%
Q2 21	$31M	4.5%
Q3 21	$5M	0.6%
Q4 21	$45M	5.6%
Q1 22	$8M	1.0%
Q3 22	$9M	1.0%
Q1 24	$4M	0.6%
Q1 25	$3M	0.4%

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q1 20	$6M	$130M	$8M	—
Q2 20	$9M	$170M	$16M	—
Q3 20	$13M	$165M	$20M	—
Q4 20	$19M	$193M	$38M	—
Q1 21	$23M	$231M	$47M	—
Q2 21	$30M	$292M	$60M	—
Q3 21	$38M	$360M	$63M	—
Q4 21	$42M	$280M	$52M	—
Q1 22	$34M	$17M	$26M	—
Q3 22	$37M	$19M	—	—
Q1 24	$28M	$15M	$16M	—
Q1 25	$29M	$16M	$16M	—
Q3 25	$30M	$18M	$19M	—
Q4 25	$32M	—	—	$38M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$184M	$525M	$709M
Q2 22	$294M	$592M	$886M
Q3 22	$205M	$652M	$856M
Q4 22	$271M	$678M	$949M
Q1 23	$260M	$573M	$833M
Q2 23	$223M	$583M	$806M
Q3 23	$189M	$633M	$823M
Q4 23	$177M	$599M	$776M
Q1 24	$165M	$494M	$659M
Q2 24	$155M	$452M	$607M
Q3 24	$131M	$496M	$627M
Q4 24	$130M	$520M	$650M
Q1 25	$177M	$450M	$627M
Q2 25	$135M	$445M	$580M
Q3 25	$122M	$449M	$571M
Q4 25	$162M	$420M	$581M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 20	106M	—	—
Q2 20	106M	0.0%	—
Q3 20	106M	0.0%	—
Q4 20	106M	0.0%	—
Q1 21	164M	+54.3%	+54.3%
Q2 21	29M	-82.4%	-72.9%
Q3 21	144M	+400.3%	+35.8%
Q4 21	144M	-0.0%	+35.7%
Q1 22	144M	-0.0%	-12.1%
Q3 22	144M	-0.1%	+399.5%
Q1 24	144M	+0.3%	+0.1%
Q1 25	225M	+55.5%	+55.7%
Q3 25	227M	+0.9%	+57.1%
Q4 25	225M	-0.9%	+55.9%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 20	—	—
Q2 20	—	—
Q3 20	—	—
Q4 20	—	—
Q1 21	—	—
Q2 21	—	—
Q3 21	—	—
Q4 21	$200.1K	4K
Q1 22	$198.6K	4K
Q3 22	$216.8K	4K
Q1 24	$243.5K	3K
Q1 25	$256.6K	3K
Q3 25	$312.0K	3K
Q4 25	$288.3K	3K

Revenue / Employee