Summary
DoorDash, Inc.'s Form 10-Q for the quarter ended March 31, 2022, shows continued top-line growth, with revenue increasing by 35% year-over-year to $1.46 billion. This growth was primarily driven by a 25% increase in Marketplace Gross Order Value (GOV) to $12.35 billion and a 23% rise in Total Orders to 404 million. The company also reported improvements in Contribution Profit, which grew to $319 million, and Contribution Margin improved to 22%. However, the company experienced an increase in net loss, widening from $110 million in Q1 2021 to $167 million in Q1 2022. This was largely due to significant increases in operating expenses, particularly Research and Development (up 80%) and General and Administrative expenses (up 45%), driven by higher personnel costs and increased investments. Despite the growing net loss, DoorDash ended the quarter with a strong liquidity position, holding $2.24 billion in cash and cash equivalents and $1.35 billion in short-term marketable securities.
Financial Highlights
48 data points| Revenue | $1.46B |
| R&D Expenses | $148.00M |
| Operating Expenses | $1.63B |
| Operating Income | -$173.00M |
| Interest Expense | $0 |
| Net Income | -$167.00M |
| EPS (Basic) | $-0.48 |
| EPS (Diluted) | $-0.48 |
| Shares Outstanding (Basic) | 349.22M |
| Shares Outstanding (Diluted) | 349.22M |
Key Highlights
- 1Revenue grew 35% year-over-year to $1.46 billion.
- 2Marketplace GOV increased 25% to $12.35 billion.
- 3Total Orders grew 23% to 404 million.
- 4Contribution Profit rose to $319 million, with Contribution Margin improving to 22%.
- 5Net loss widened from $110 million to $167 million due to increased operating expenses.
- 6Acquired Bbot, Inc. for approximately $88 million to enhance merchant solutions.
- 7Cash and cash equivalents and marketable securities totaled $3.6 billion at quarter-end.