10-KPeriod: FY2024

DoorDash, Inc. Annual Report, Year Ended Dec 31, 2024

Filed February 14, 2025For Securities:DASH

Summary

DoorDash, Inc. reported strong performance in its 10-K filing for the period ending December 30, 2024. The company demonstrated significant year-over-year revenue growth of 24%, reaching $10.7 billion, driven by a 20% increase in Marketplace Gross Order Value (GOV) to $80.2 billion. This growth was supported by a 20% rise in Total Orders to 2.6 billion, attributed to increasing consumer numbers and engagement. Importantly, DoorDash achieved GAAP net income of $123 million for the year, a substantial improvement from the $558 million net loss in the prior year. This profitability is further underscored by a substantial increase in Adjusted EBITDA, which grew to $1.9 billion from $1.2 billion in the prior year, reflecting improved operating leverage and efficiency.

Financial Highlights

50 data points
Beta

Revenue

$10.72B

Net Income

$123.00M

1.1% Net Margin

EPS (Diluted)

$0.29

Total Assets

$12.85B

Cash & Equivalents

$4.02B

Free Cash Flow

$2.03B

Financial Statements
Beta
Revenue$10.72B
R&D Expenses$1.17B
Operating Expenses$10.76B
Operating Income-$38.00M
Net Income$123.00M
EPS (Basic)$0.30
EPS (Diluted)$0.29
Shares Outstanding (Basic)411.55M
Shares Outstanding (Diluted)430.24M

Key Highlights

  • 1Revenue increased by 24% year-over-year to $10.7 billion.
  • 2Marketplace GOV grew by 20% to $80.2 billion.
  • 3Total Orders increased by 20% to 2.6 billion.
  • 4Achieved GAAP net income of $123 million, a significant turnaround from a net loss of $558 million in the previous year.
  • 5Adjusted EBITDA increased by 59.7% to $1.9 billion.
  • 6Net Revenue Margin improved to 13.4% from 12.9%, mainly due to higher advertising revenue contribution.
  • 7Free Cash Flow increased to $1.8 billion.

Frequently Asked Questions

DoorDash demonstrated a significant positive financial trend. Revenue grew by 24% to $10.7 billion, and the company achieved GAAP net income of $123 million, a strong turnaround from the previous year's net loss of $558 million. Adjusted EBITDA also saw robust growth, increasing to $1.9 billion, indicating improved operational efficiency and profitability.

DoorDash's growth is driven by an increase in both consumers and the frequency of their engagement on the platform. Total Orders grew by 20% to 2.6 billion, and Marketplace Gross Order Value (GOV) also grew by 20% to $80.2 billion. The company also highlights an increased contribution from advertising revenue as a factor in improving its Net Revenue Margin.

Key risks identified include intense competition across all segments of its business, the potential for increased operating costs related to Dasher pay and classification changes, reliance on merchants and maintaining strong relationships with them, and the ongoing challenge of managing rapid growth. Furthermore, regulatory scrutiny, cybersecurity threats, and potential system failures are significant concerns that could adversely affect the company's financial condition and operations.

DoorDash has an active share repurchase program. In February 2024, the board authorized up to $1.1 billion in repurchases, of which approximately $224 million was utilized by year-end. Subsequent to the period, in February 2025, the company announced an authorization for up to $5.0 billion, inclusive of remaining authority, signaling a commitment to returning capital to shareholders while also investing in business growth.