Financial Performance - Total Orders increased 21% year-over-year (Y/Y) to 620 million, and Marketplace GOV increased 21% Y/Y to $19.2 billion[5] - Revenue increased 23% Y/Y to $2.5 billion, with Net Revenue Margin rising to 13.1% from 12.8% in Q1 2023[5] - GAAP net loss including redeemable non-controlling interests was $25 million, significantly improved from $162 million in Q1 2023[5] - Adjusted EBITDA reached an all-time high of $371 million, up from $204 million in Q1 2023[14] - Revenue for Q1 2024 was $2,513 million, an increase of 23.5% compared to $2,035 million in Q1 2023[36] - Net loss attributable to DoorDash, Inc. common stockholders for Q1 2024 was $23 million, significantly reduced from a loss of $161 million in Q1 2023[36] - Adjusted EBITDA for Q1 2024 improved to a loss of $61 million, compared to a loss of $171 million in Q1 2023[36] - For the three months ended March 31, 2024, the company reported a net loss of $25 million, a significant improvement from a net loss of $162 million in the same period of 2023[38] - The contribution margin improved to 29.9% in Q1 2024, up from 26.2% in Q1 2023, indicating enhanced operational efficiency[43] Cost and Expenses - GAAP cost of revenue was $1.3 billion, up 24% Y/Y, primarily due to increases in Total Orders and Marketplace GOV[8] - GAAP sales and marketing expense was $504 million, up 2% Y/Y, with a decrease in advertising expenses offsetting personnel-related costs[10] - GAAP research and development expense was $279 million, up 21% Y/Y, driven by personnel-related expenses[11] - Cost of revenue for Q1 2024 was $1,330 million, up from $1,069 million in Q1 2023, reflecting a 24.4% increase[36] - The cost of revenue, exclusive of depreciation and amortization, is expected to rise to $1,330 million in Q1 2024, compared to $1,069 million in Q1 2023, reflecting a 24.4% increase[41] - The company incurred $272 million in stock-based compensation expense in Q1 2024, slightly down from $280 million in Q3 2023[44] Cash Flow and Assets - The company generated net cash provided by operating activities of $553 million and Free Cash Flow of $487 million, both up from Q1 2023[15] - Net cash provided by operating activities increased to $553 million in Q1 2024, compared to $397 million in Q1 2023, reflecting a 39.2% increase[38] - Cash, cash equivalents, and restricted cash at the end of Q1 2024 totaled $3,247 million, a substantial increase from $2,186 million at the end of Q1 2023[38] - Net cash provided by operating activities for Q1 2024 was $1,829 million, compared to $1,673 million in Q4 2023, showing robust operational cash flow[48] - Free Cash Flow for Q1 2024 was $1,520 million, an increase from $1,349 million in Q4 2023, reflecting strong cash generation capabilities[48] Future Projections - For Q2 2024, the company expects Marketplace GOV between $19.0 billion and $19.4 billion, with Adjusted EBITDA projected between $325 million and $425 million[19] - Stock-based compensation for 2024 is projected to be in the range of $1.1 billion to $1.2 billion[24] - The company expects RSU issuances of 6.0 million to 7.0 million for 2024, net of expected forfeitures[24] Stock and Shareholder Returns - The company repurchased $392 million of common stock in Q1 2023, indicating a commitment to returning value to shareholders[38] - Total stock-based compensation for 2023 was $1,088 million, with projections for 2024 ranging between $1,100 million and $1,200 million[46] Legal and Regulatory - The company expects to incur $35 million in legal, tax, and regulatory settlements in Q1 2024, down from $50 million in Q4 2023[44]

The Zacks Internet - Services industry is expected to have significantly benefited from the ongoing digitization, which has been boosting the demand for Internet services across the world.Solid adoption of Software-as-a-Service or SaaS-based services, especially among small and medium-sized businesses, is likely to have benefited the performance of the industry players during the first quarter of 2024.Moreover, the explosion of generative AI, along with the growing proliferation of Machine Learning, blockch ...

Key PointsWith a 65% market share, DoorDash is the nation's largest food delivery service.DoorDash’s network includes over 550,000 partner restaurants and retailers, and over 32 million consumer customers.DoorDash charges restaurants a commission of up to 30% and also collects delivery and service fees from customers, with take rates exceeding 12%.5 stocks we like better than DoorDashThe pandemic made restaurant delivery services a regular fixture in the daily lives of busy consumers. The surge in business ...

DoorDash (DASH) is set to release its first-quarter 2024 results on May 1.The Zacks Consensus Estimate for the top line is currently pegged at $2.45 billion, suggesting a 20.63% increase year over year.The consensus mark for loss is estimated to be 7 cents per share, unchanged in the past 30 days. DASH reported a loss of 41 cents per share in the year-ago quarter.The company’s earnings surpassed the Zacks Consensus Estimate in two of the trailing four quarters while missing the same twice, the average surpr ...

(Uber Photo)After a controversial minimum wage law for food delivery drivers in Seattle went into effect in January, tech giants including Uber and DoorDash made it clear they weren’t happy.They immediately added substantial new delivery fees for consumers, which caused demand to drop. They also cranked up their lobbying efforts, spending heavily and making frequent trips to City Hall to meet with councilmembers, according to visitor logs from the Seattle City Council. Now, a new proposal could reverse the ...

Investors might want to bet on DoorDash, Inc. (DASH) , as it has been recently upgraded to a Zacks Rank #2 (Buy). This upgrade is essentially a reflection of an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system.S ...

One stock that might be an intriguing choice for investors right now is DoorDash, Inc. (DASH) . This is because this security in the Internet - Services space is seeing solid earnings estimate revision activity, and is in great company from a Zacks Industry Rank perspective.This is important because, often times, a rising tide will lift all boats in an industry, as there can be broad trends taking place in a segment that are boosting securities across the board. This is arguably taking place in the Internet ...

The stock market has been in a solid rally since the third quarter of 2023, pushing significant indices to new highs. That upward trajectory also raised company valuations for many stocks, putting investors at risk of inflated stock prices and selloffs. Being the most traded exchange in the states, the Nasdaq is no stranger to seeing expensive stocks that investors should sell. These expensive stocks show signs of decline or have recently seen explosive price growth that lacks fundamental support. Indeed, e ...

Uber and DoorDash are competitors in one key industry, but their businesses are increasingly diverse.DoorDash (DASH -0.54%) is the largest food delivery platform in America with a 67% market share. Uber Technologies (UBER 0.76%) also operates in that industry, although it's sitting in a distant second place with a market share of just 23%.However, Uber is a much larger business because it also operates the world's largest ride-hailing platform, and it has a growing commercial freight segment. DoorDash isn't ...

DoorDash (DASH) recently inked a partnership with Lowe’s Companies (LOW) that will help in expanding its footprint in the local commerce platform.The collaboration is expected to help DASH foray into the home improvement category, allowing consumers nationwide access to more than 1,700 Lowe’s stores for on-demand delivery.Through this partnership, customers can now conveniently purchase Lowe’s products directly through the DoorDash app, enhancing the ability to shop for everyday items with same-day delivery ...