DoorDash, Inc. DASH
Our mission is to grow and empower local economies. We aim to do this by providing services that reduce friction in local commerce and help merchants better connect with consumers in their communities. Our primary offerings include the DoorDash Marketplace, the Wolt Marketplace, and the Deliveroo Marketplace (our "Marketplaces"), and our Commerce Platform.
Our Marketplaces operate in over 40 countries, including the United States, and account for the vast majority of our revenue today. Our Marketplaces serve three primary constituents: merchants, consumers, and Dashers1.
Our Marketplaces provide an integrated suite of services that help merchants establish an online presence, connect with consumers in their communities, and solve mission-critical challenges, such as customer acquisition, demand generation, order fulfillment, merchandising, payment processing, and customer support. We typically earn a fee from merchants for the services we provide based on the size of each transaction. We also offer advertising as a value-added service through our Marketplaces to help merchants and consumer packaged goods companies increase consumer engagement and drive incremental revenue.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $13.72B | $10.72B | $8.63B | $6.58B | $4.89B | $2.89B | $885.0M | $291.0M | — |
| R&D | $1.43B | $1.17B | $1.00B | $829.0M | $430.0M | $321.0M | $107.0M | $51.0M | — |
| SG&A | $1.60B | $1.45B | $1.24B | $1.15B | $797.0M | $556.0M | $245.0M | $78.0M | — |
| Total operating expenses | $12.99B | $10.76B | $9.21B | $7.71B | $5.34B | $3.32B | $1.50B | $501.0M | — |
| Operating income | $723.0M | -$38.0M | -$579.0M | -$1.12B | -$452.0M | -$436.0M | -$616.0M | -$210.0M | — |
| Interest expense | — | — | — | $2.0M | $14.0M | $32.0M | $0 | $1.0M | — |
| Pre-tax income | $939.0M | $156.0M | -$534.0M | -$1.40B | -$463.0M | -$458.0M | -$666.0M | -$204.0M | — |
| Income tax | $7.0M | $39.0M | $31.0M | $31.0M | $5.0M | $3.0M | $1.0M | $0 | — |
| Net income | $935.0M | $123.0M | -$558.0M | -$1.36B | -$468.0M | -$461.0M | -$667.0M | -$204.0M | — |
| EPS, basic | 2.19 | 0.30 | -1.42 | -3.68 | -1.39 | -7.39 | -15.44 | — | — |
| EPS, diluted | 2.13 | 0.29 | -1.42 | -3.68 | -1.39 | -7.39 | -15.44 | -4.67 | — |
| Shares, diluted (wtd. avg.) | $439.7M | $430.2M | $392.9M | $371.4M | $336.8M | $62.4M | $43.3M | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $4.38B | $4.02B | $2.66B | $2.19B | $2.51B | $4.34B | $287.0M | $215.0M | $65.0M |
| Short-term investments | $1.13B | $1.32B | $1.42B | $1.54B | $1.25B | $514.0M | $508.0M | — | — |
| Receivables | $1.11B | $732.0M | $533.0M | $400.0M | $349.0M | $291.0M | $58.0M | — | — |
| Total current assets | $8.64B | $7.39B | $5.60B | $4.72B | $4.57B | $5.52B | $998.0M | — | — |
| Goodwill | $5.52B | $2.31B | $2.43B | $2.37B | $316.0M | $316.0M | $306.0M | $0 | — |
| Other intangibles | $2.26B | $510.0M | $659.0M | $765.0M | $61.0M | $74.0M | $103.0M | — | — |
| Total assets | $19.66B | $12.85B | $10.84B | $9.79B | $6.81B | $6.35B | $1.73B | — | — |
| Accounts payable | $397.0M | $321.0M | $216.0M | $157.0M | $161.0M | $80.0M | $20.0M | — | — |
| Total current liabilities | $6.15B | $4.44B | $3.41B | $2.54B | $1.76B | $1.40B | $382.0M | — | — |
| Total liabilities | $9.61B | $5.04B | $4.03B | $3.02B | $2.14B | $1.65B | $550.0M | — | — |
| Retained earnings | -$4.32B | -$5.25B | -$5.15B | -$3.85B | -$2.08B | -$1.61B | -$1.15B | — | — |
| Total equity | $10.03B | $7.80B | $6.81B | $6.75B | $4.67B | $4.70B | -$1.08B | -$436.0M | -$198.0M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 |
|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $2.43B | $2.13B | $1.67B | $367.0M | $692.0M | $252.0M | -$467.0M | -$159.0M | — |
| Depreciation and amortisation | $747.0M | $561.0M | $509.0M | $369.0M | $156.0M | $120.0M | $32.0M | $9.0M | — |
| Stock-based compensation | $1.05B | $1.10B | $1.09B | $889.0M | $486.0M | $322.0M | $18.0M | $24.0M | — |
| Capital expenditure | $257.0M | $104.0M | $123.0M | $176.0M | $129.0M | $106.0M | $78.0M | $13.0M | — |
| Investing cash flow | -$4.39B | -$444.0M | -$342.0M | -$300.0M | -$2.05B | -$192.0M | -$570.0M | -$357.0M | — |
| Financing cash flow | $2.36B | -$204.0M | -$752.0M | -$375.0M | -$483.0M | $4.00B | $1.11B | $666.0M | — |
| Buybacks | $0 | $224.0M | $750.0M | $400.0M | $0 | $0 | $0 | $60.0M | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001792789-26-000035.
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