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DoorDashDASH

Legal name
DoorDash, Inc.
Sector
Other
Industry
Services-Business Services, NEC
Exchange
Nasdaq

Stock Price $DASH

Latest filings

You are here#14 of 42 in Consumer Discretionary by market cap

Filing record · 2021–202610-K710-Q188-K60

DASH filed 7 annual reports (10-K), 18 quarterly reports (10-Q) and 60 current reports (8-K) between 2021 and 2026.

  1. Leadership change8-K · Apr ’22Apr ’22
  2. Leadership change8-K · Jul ’23Jul ’23
  3. FY2025 annual report10-K · Feb ’26Feb ’26

01—Key figures

Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025
Source: 10-KFY2025

Revenue Trend

Year-over-year comparison from 10-K annual reports

  8. $13.72B
YoY changeLargest recent move+226.1%in FY20Latest +27.9%

2 older moves run past ±150% (largest +226.1%); point at, tap or drag across the bars to read one.

Latest bar from 10-KFY2025Click a bar to open its SEC filing

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All DASH Financial Metrics54 metrics

Income Statement14

Balance Sheet23

Cash Flow13

Per Share4

02—Overview

DoorDash Financial Overview 2021–2025

Updated Nov 2, 2026

Eclipsing $102.0 billiona in Marketplace Gross Order Value in FY2025, DoorDash proved its delivery logistics engine is highly scalable and structurally profitable. The core investment thesis is clear: the company has successfully transitioned from a loss-making aggregator into a global commerce platform that generates substantial cash flow while aggressively rolling up international competitors.

The bottom line staged a complete recovery over the reporting period, pivoting from a $468 millionb net loss in FY2021 to a $935 million GAAP net income in FY2025. This operational leverage was driven by increasing volume density and higher-margin advertising. In FY2025, the platform processed 3.2 billion Total Orders and maintained a stable 13.4% Net Revenue Margin. Consequently, Adjusted EBITDA surged to $2.8 billion, allowing the company to generate $1.8 billion in Free Cash Flow. Management is actively redeploying this capital into global consolidation, capped by the $3.7 billion cash acquisition of Deliveroo in Q4 2025.

Investors have rewarded this margin expansion and strategic international growth. At the close of FY2025, the market valued the equity at $226.48c per share. Because the company only recently inflected to sustained profitability, it traded at a lofty 106.3x P/E multiple based on the $2.13 in EPS generated that fiscal year.

Recent Developments (Q2 and Q3 2026)

DoorDash punctuated Q3 2026 with a $17 billiond agreement to acquire Instacart. This pending transaction accelerates grocery expansion and supplements organic growth. In Q3 2026, Revenue surged 34% year-over-year to a record $4.6 billion, driven by a 36% increase in Marketplace Gross Order Value to $33.9 billion. Profitability also accelerated, with Adjusted EBITDA jumping 41% to $1.06 billion.

Earlier in the period, the company completed a corporate reincorporation to Nevada. Bulls argue the Instacart merger will cement local commerce dominance and yield cross-selling synergies across combined memberships. Bears warn that the $13.0 billione in bridge loan debt and surging research and development expenses could erode cash flows. Trading at an 84.0x P/E as of the Q3 2026 report, the equity remains richly valued relative to integration risks.

What to watch: merger approval timelines for the Instacart transaction; margin impacts from seasonal Dasher and insurance costs.

03—Filings

Recent SEC Filings

  1. 8-KDoorDash 8-K Report, Material Agreement (Oct 29, 2026)DoorDash, Inc. (DASH) announced on October 29, 2026, that it has entered into a definitive agreement to acquire Instacart (Maplebear Inc.) for an aggregate value of $65.00 per Instacart share. This transaction, valued at approximately $17 billion in equity, will be structured with at least 75% cash consideration, allowing Instacart shareholders to elect cash, DoorDash stock, or a combination thereof, subject to proration to ensure DoorDash stock does not exceed 25% of the total consideration. The proposed merger aims to combine DoorDash's extensive delivery network and technology with Instacart's grocery and fulfillment technology, intending to empower local businesses of all sizes to compete more effectively in the growing online commerce landscape.
  2. 8-KDoorDash 8-K Report, Financial Results (Oct 29, 2026)DoorDash, Inc. (DASH) reported strong third-quarter 2026 financial results, showcasing record-breaking performance in Marketplace Gross Order Value (GOV), revenue, and net income. The company saw significant year-over-year growth in total orders (28%), Marketplace GOV (36%), and revenue (34%), demonstrating robust expansion. This growth was fueled by increased membership program engagement, new product introductions, and advancements in their global technology platform, particularly in merchant services and AI. The most significant development announced is DoorDash's definitive agreement to acquire Instacart for approximately $17 billion. This strategic acquisition, expected to close in late 2027 or early 2028, is intended to combine the scale and complementary technologies of both companies to build the next generation of tools and services for local merchants, consumers, and delivery personnel. DoorDash anticipates substantial synergies from this acquisition, with a multi-year path to over $500 million in annual net synergies, though significant investment is expected in the initial phase.
  3. 8-KDoorDash 8-K Report, Corporate Update (Sep 18, 2026)DoorDash, Inc. (DASH) announced the completion of its reincorporation from Delaware to Nevada, effective September 18, 2026. This strategic move primarily impacts the corporate legal framework, changing the governing laws and corporate documents to those of Nevada. Importantly, the reincorporation did not alter the company's business operations, management, assets, liabilities, or stock structure. Existing shareholders will see their shares automatically converted to Nevada Class A and Class B common stock without needing to exchange certificates. The company has also entered into new indemnification agreements with its executive officers and directors. While the operational and financial standing of DoorDash remains unchanged, investors should note that certain stockholder rights may differ under Nevada law compared to Delaware law. A more detailed overview of these changes and the new corporate structure is available in the company's Information Statement filed on August 27, 2026.
  4. 8-KDoorDash 8-K Report, Shareholder Vote Results (Aug 11, 2026)DoorDash, Inc. (DASH) announced via an 8-K filing on August 11, 2026, a significant corporate restructuring: the company will reincorporate from Delaware to Nevada through a conversion. This decision was approved by written consent of the Consenting Stockholders, who collectively hold at least a majority of the company's voting power. The reincorporation is expected to be completed no earlier than twenty calendar days after the mailing of the Schedule 14C information statement to all record stockholders. This move represents a strategic decision by the company's major shareholders to change the corporate domicile. Investors should monitor future filings for details on the implications of this change, which may include potential impacts on corporate governance, tax considerations, and operational aspects.
  5. 8-KDoorDash 8-K Report, Financial Results (Aug 5, 2026)DoorDash reported strong second-quarter 2026 top-line growth, with revenue up 36% Y/Y to $4.45 billion and Total Orders up 27% to 970 million. Marketplace GOV rose 36% to $33.1 billion. Much of that growth came from the Deliveroo acquisition: excluding Deliveroo, Total Orders grew 17%, GOV grew 23%, and revenue grew 24%. Profitability improved on an adjusted basis, with Adjusted EBITDA up 40% to $914 million (2.8% of GOV, versus 2.7% a year earlier) and Free Cash Flow of $742 million, more than double the prior-year figure of $355 million. GAAP net income attributable to common stockholders fell 30% Y/Y to $200 million, reflecting higher R&D and G&A spending, $98 million of legal, tax, and regulatory expenses that management excludes from Adjusted EBITDA, and higher depreciation and amortization. Management guided Q3 2026 Marketplace GOV to $33.0-34.0 billion and Adjusted EBITDA to $950-1,100 million. It expects Adjusted EBITDA margin to decline quarter-over-quarter in Q4 due to seasonal Dasher costs, annual insurance expense, and higher investment in its global technology platform and autonomy initiatives. Full-year 2026 guidance includes stock-based compensation of $1.2-1.3 billion, D&A of $1.1-1.2 billion, and a $700-800 million reduction to reported Free Cash Flow from year-end merchant payment timing. The company also continues to invest heavily in autonomy (Dot robots and DoorDash Air, which recently received FAA Part 135 certification), AI-driven product features, and a single global technology platform expected to be fully rolled out in H1 2027. Investors should weigh the strong near-term adjusted profitability and cash generation against rising GAAP costs, the Deliveroo-driven growth profile, and the elevated spending outlook. Capital return remained active. DoorDash repurchased 6.8 million Class A shares for $1,049 million year to date through August 5, leaving approximately $3.95 billion under its February 2025 authorization.
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04—See also

Related Companies

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