01—Abstract
Summary
Summary of the 10-Q filed October 30, 2026. Cited figures are marked; the original filing is the authoritative source.
DoorDash, Inc. (DASH) reported a strong third quarter for 2026, demonstrating significant growth across key operational and financial metrics.
Revenue surged by 34% year-over-year to $4.6 billiona for the quarter, driven by a 28% increase in Total Orders and a 36% rise in Marketplace Gross Order Value (GOV). This growth was bolstered by the acquisition of Deliveroo, expanding its global reach. The company also showed improved profitability, with Income from operations increasing to $442 million and Net income attributable to common stockholders reaching $466 million for the quarter.
Adjusted EBITDA saw a substantial increase of 41% year-over-year to $1.06 billionb, indicating efficient cost management and operational leverage. Furthermore, Free Cash Flow generation remained robust, increasing to $787 million for the quarter, highlighting the company's ability to convert its operational performance into cash.
Despite these positive results, investors should note ongoing significant investments in R&D and sales & marketing, as well as the potential impacts of ongoing legal and regulatory challenges, particularly concerning Dasher classification. The company also announced a pending acquisition of Instacart, which could significantly reshape its market position and financial structure, pending regulatory approvals and closing.
02—Key points
Key Highlights
- Revenue increased by 34% year-over-year to $4.6 billion in Q3 2026.
- Total Orders grew by 28% year-over-year, reaching 993 million in Q3 2026.
- Marketplace Gross Order Value (GOV) increased by 36% year-over-year to $33.9 billion in Q3 2026.
- Net income attributable to common stockholders was $466 million for Q3 2026.
- Adjusted EBITDA increased by 41% year-over-year to $1.06 billion in Q3 2026.
- Free Cash Flow generated was $787 million in Q3 2026.
- DoorDash announced a definitive agreement to acquire Instacart for an equity value of approximately $17 billion.
03—One dollar
04—Financials
Financial Highlights
Figures from 10-QQ3 FY2026filed October 30, 2026Financial Statements
Q3 FY2026 against Q3 FY2025
| Line item | Q3 FY2026Q3 FY2025 | Change |
|---|---|---|
| Revenue | $4.62B$3.45B | +34.0% |
| R&D Expenses | $499.00M$355.00M | +40.6% |
| Operating Expenses | $4.17B$3.19B | +30.9% |
| Operating Income | $442.00M$258.00M | +71.3% |
| Net Income | $466.00M$244.00M | +91.0% |
| EPS (Basic) | $1.07$0.57 | +87.7% |
| EPS (Diluted) | $1.06$0.55 | +92.7% |
| Shares Outstanding (Basic) | 434.41M428.91M | +1.3% |
| Shares Outstanding (Diluted) | 440.31M441.81M | −0.3% |
05—Questions
Frequently Asked Questions
How did DoorDash's revenue perform in the third quarter of 2026?
DoorDash's revenue grew significantly, increasing by 34% year-over-year to $4.6 billion for the three months ended September 30, 2026. This growth was primarily driven by a 36% increase in Marketplace Gross Order Value (GOV) and a 28% increase in Total Orders.
What is the company's profitability status and what are the key metrics?
DoorDash reported improved profitability. Income from operations was $442 million for the quarter. Net income attributable to DoorDash, Inc. common stockholders was $466 million. Furthermore, Adjusted EBITDA, a non-GAAP measure, increased by 41% year-over-year to $1.06 billion, indicating strong operational efficiency.
What are the significant developments in the company's strategic initiatives and acquisitions?
DoorDash continues to invest in its platform and international growth, including the acquisition of Deliveroo which contributed to revenue growth. Significantly, the company announced a definitive agreement to acquire Instacart for approximately $17 billion, a transaction that is subject to customary closing conditions and regulatory approvals and is expected to close in late 2027 or early 2028. The company also repurchased $1.0 billion of its Class A common stock during the nine months ended September 30, 2026.
What are the main risks or challenges highlighted in the filing?
Key risks and challenges include intense competition, potential reclassification of Dashers from independent contractors to employees which could materially impact costs and operations, ongoing legal and regulatory proceedings (including those related to worker classification, consumer protection, and tax matters), cybersecurity threats, and the successful integration of acquisitions. The company also faces risks associated with its significant indebtedness, including the 2030 Convertible Senior Notes.
06—Continue