01—Abstract
Summary
Summary of the 10-K filed February 14, 2025. Cited figures are marked; the original filing is the authoritative source.
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 billiona, 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 millionb 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.
02—Key points
Key Highlights
- Revenue increased by 24% year-over-year to $10.7 billion.
- Marketplace GOV grew by 20% to $80.2 billion.
- Total Orders increased by 20% to 2.6 billion.
- Achieved GAAP net income of $123 million, a significant turnaround from a net loss of $558 million in the previous year.
- Adjusted EBITDA increased by 59.7% to $1.9 billion.
- Net Revenue Margin improved to 13.4% from 12.9%, mainly due to higher advertising revenue contribution.
- Free Cash Flow increased to $1.8 billion.
03—One dollar
04—Financials
Financial Highlights
Figures from 10-KFY2024filed February 14, 2025Financial Statements
FY2024 against FY2023
| Line item | FY2024FY2023 | Change |
|---|---|---|
| Revenue | $10.72B$8.63B | +24.2% |
| R&D Expenses | $1.17B$1.00B | +16.5% |
| Operating Expenses | $10.76B$9.21B | +16.8% |
| Operating Income | -$38.00M-$579.00M | +93.4% |
| Net Income | $123.00M-$558.00M | +122.0% |
| EPS (Basic) | $0.30$-1.42 | +121.1% |
| EPS (Diluted) | $0.29$-1.42 | +120.4% |
| Shares Outstanding (Basic) | 411.55M392.95M | +4.7% |
| Shares Outstanding (Diluted) | 430.24M392.95M | +9.5% |
05—Questions
Frequently Asked Questions
What is DoorDash's overall financial performance and profitability trend based on this filing?
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.
How is DoorDash growing its business, and what are the key drivers?
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.
What are the significant risks or challenges facing DoorDash according to this report?
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.
What is DoorDash's approach to capital allocation, particularly regarding share repurchases?
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.
06—Continue