10-QPeriod: Q1 FY2026

DoorDash, Inc. Quarterly Report for Q1 Ended Mar 31, 2026

Filed May 6, 2026For Securities:DASH

Summary

DoorDash, Inc.'s Q1 2026 results show continued revenue growth, driven by a significant increase in Marketplace Gross Order Volume (GOV). While revenue climbed 33% year-over-year, net revenue margin slightly decreased due to lower consumer fees and the inclusion of Deliveroo, partially offset by advertising revenue. The company experienced a substantial increase in depreciation and amortization, primarily from acquired intangible assets and capitalized software, impacting operating income. Despite revenue growth, net income attributable to common stockholders declined slightly year-over-year, attributed to higher operating expenses and increased depreciation and amortization. Operationally, DoorDash reported strong growth in Total Orders and Marketplace GOV, boosted by the Deliveroo acquisition. The company also generated robust Adjusted EBITDA and positive Free Cash Flow, though both saw a slight decrease compared to the prior year quarter. Management's focus remains on long-term growth, investing in platform development and international expansion, which contributes to increased operating expenses but is expected to drive future value. The company maintains a strong liquidity position with substantial cash, cash equivalents, and investments.

Financial Highlights

49 data points
Beta

Revenue

$4.04B

Net Income

$184.00M

4.6% Net Margin

EPS (Diluted)

$0.42

Total Assets

$19.71B

Cash & Equivalents

$4.58B

Free Cash Flow

$537.00M

Financial Statements
Beta
Revenue$4.04B
R&D Expenses$398.00M
Operating Expenses$3.88B
Operating Income$151.00M
Net Income$184.00M
EPS (Basic)$0.42
EPS (Diluted)$0.42
Shares Outstanding (Basic)435.43M
Shares Outstanding (Diluted)442.33M

Key Highlights

  • 1Revenue increased by 33% year-over-year to $4.04 billion.
  • 2Marketplace Gross Order Volume (GOV) grew 37% year-over-year to $31.6 billion.
  • 3Total Orders increased by 27% year-over-year to 933 million, significantly aided by the Deliveroo acquisition.
  • 4Net income attributable to DoorDash, Inc. common stockholders decreased slightly to $184 million from $193 million in the prior year quarter.
  • 5Depreciation and amortization expenses significantly increased by 77% year-over-year to $269 million, primarily due to acquired intangible assets.
  • 6Adjusted EBITDA was $754 million, a 28% increase from the prior year, while Free Cash Flow was $420 million, down 15% year-over-year.
  • 7DoorDash repurchased $162 million of its Class A common stock during the quarter.

Frequently Asked Questions

DoorDash reported a strong performance in Q1 2026 with revenue increasing by 33% year-over-year to $4.04 billion. This growth was driven by a 37% increase in Marketplace Gross Order Volume (GOV) to $31.6 billion and a 27% rise in Total Orders to 933 million. The acquisition of Deliveroo contributed significantly to these increases.

The acquisition of Deliveroo has contributed to the significant year-over-year growth in Total Orders and Marketplace GOV. However, it also led to a substantial increase in depreciation and amortization expenses, which rose by 77% to $269 million, primarily due to the amortization of acquired intangible assets. This increase in expenses, along with other operating costs, contributed to a slight decrease in net income attributable to common stockholders despite revenue growth.

DoorDash generated $754 million in Adjusted EBITDA, an increase of 28% compared to the prior year quarter. Free Cash Flow was $420 million, a decrease of 15% year-over-year, impacted by timing of working capital. While Adjusted EBITDA shows a positive trend, the decrease in Free Cash Flow indicates some pressure on operational cash generation, potentially due to investments or working capital changes.

As of March 31, 2026, DoorDash maintains a strong liquidity position with $6.4 billion in cash, cash equivalents, and investments. The company expects its current resources and available credit facilities to be sufficient for at least the next 12 months. Management is focused on long-term growth through platform development and international expansion, which involves continued investment and expense growth, influencing short-term profitability.