01—Abstract
Summary
Summary of the 10-Q filed November 6, 2025. Cited figures are marked; the original filing is the authoritative source.
DoorDash, Inc. reported strong financial results for the third quarter of 2025, demonstrating significant year-over-year growth across key metrics.
Revenue increased by 27% to $3.45 billiona, driven by a 25% rise in Marketplace Gross Order Value (GOV) to $25.0 billion, reflecting continued consumer engagement and order volume growth. The company also saw a notable improvement in profitability, with income from operations reaching $258 million, up from $107 million in the prior year's quarter. This operational leverage contributed to a substantial increase in net income attributable to common stockholders, which rose to $244 million from $162 million, with diluted earnings per share improving to $0.55 from $0.38.
Operationally, the company expanded its reach with a 21%b year-over-year increase in Total Orders to 776 million. Key financial metrics such as Contribution Profit and Adjusted EBITDA also saw robust growth, indicating effective cost management and operational efficiency.
Furthermore, DoorDash generated strong Free Cash Flow of $723 millionc in the third quarter, showcasing its ability to translate revenue growth into cash generation. The company's robust liquidity position, bolstered by significant cash, cash equivalents, and marketable securities, along with the recent issuance of convertible senior notes, provides a solid foundation for continued investment in strategic growth initiatives and potential future acquisitions.
02—Key points
Key Highlights
- Revenue grew 27% year-over-year to $3.45 billion in Q3 2025.
- Marketplace Gross Order Value (GOV) increased by 25% to $25.0 billion.
- Total Orders grew 21% year-over-year to 776 million.
- Income from operations improved significantly to $258 million.
- Net income attributable to DoorDash, Inc. common stockholders increased to $244 million.
- Adjusted EBITDA grew to $754 million, demonstrating strong operational profitability.
- Free Cash Flow for the quarter was $723 million, highlighting efficient cash generation.
03—One dollar
04—Financials
Financial Highlights
Figures from 10-QQ3 FY2025filed November 6, 2025Financial Statements
Q3 FY2025 against Q3 FY2024
| Line item | Q3 FY2025Q3 FY2024 | Change |
|---|---|---|
| Revenue | $3.45B$2.71B | +27.3% |
| R&D Expenses | $355.00M$289.00M | +22.8% |
| Operating Expenses | $3.19B$2.60B | +22.7% |
| Operating Income | $258.00M$107.00M | +141.1% |
| Net Income | $244.00M$162.00M | +50.6% |
| EPS (Basic) | $0.57$0.39 | +46.2% |
| EPS (Diluted) | $0.55$0.38 | +44.7% |
| Shares Outstanding (Basic) | 428.91M413.11M | +3.8% |
| Shares Outstanding (Diluted) | 441.81M427.96M | +3.2% |
05—Questions
Frequently Asked Questions
How did DoorDash's revenue perform in the third quarter of 2025 compared to the previous year?
DoorDash reported a substantial 27% increase in revenue, reaching $3.45 billion for the third quarter of 2025, compared to $2.71 billion in the same period of 2024. This growth was primarily driven by a 25% increase in Marketplace Gross Order Value (GOV) and a 21% rise in Total Orders.
What was the company's profitability in the third quarter of 2025?
The company showed significant improvement in profitability. Income from operations increased to $258 million, up from $107 million in Q3 2024. Net income attributable to DoorDash, Inc. common stockholders rose to $244 million from $162 million in the prior year's quarter, with diluted earnings per share increasing to $0.55 from $0.38.
How did DoorDash's cash flow generation perform?
DoorDash generated strong cash flow in the third quarter of 2025, with Free Cash Flow of $723 million, a significant increase from $444 million in the same quarter of 2024. For the first nine months of 2025, Free Cash Flow was $1.57 billion, up from $1.38 billion in the prior year period.
Were there any significant acquisitions or financing activities during the period?
Yes, the company completed the acquisition of Deliveroo plc on October 2, 2025, which was announced in May 2025. Financially, in May 2025, DoorDash issued $2.75 billion in 0% Convertible Senior Notes due 2030. The company also announced a share repurchase program authorization of up to $5.0 billion in February 2025.
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