DoorDash, Inc. (DASH) came out with a quarterly loss of $0.38 per share versus the Zacks Consensus Estimate of a loss of $0.10. This compares to loss of $0.44 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of -280%. A quarter ago, it was expected that this company would post a loss of $0.07 per share when it actually produced a loss of $0.06, delivering a surprise of 14.29%. Over the last four quarters, the company has surpassed ...

A DoorDash driver on an electric bicycle wearing a cooler backpack with the skyline of San Francisco in the background. Shares of DoorDash popped 13% in extended trading on Thursday after the company reported second-quarter results that beat analysts' expectations for revenue. Here's how the company did, according to LSEG analyst expectations: Loss per share: 38 cents, which may not compare with the expected loss of 9 cents Revenue: $2.63 billion vs. $2.54 billion expected DoorDash's revenue increased 23% f ...

Financial Performance - Total Orders increased to 635 million in Q2 2024, representing a 19% growth year-over-year compared to 532 million in Q2 2023[89]. - Marketplace Gross Order Value (GOV) reached $19.7 billion in Q2 2024, a 20% increase from $16.5 billion in Q2 2023[90]. - Revenue for Q2 2024 was $2.63 billion, up 23% from $2.13 billion in Q2 2023[94]. - Contribution Profit rose to $825 million in Q2 2024, compared to $620 million in Q2 2023, driven by revenue growth[92]. - Adjusted EBITDA increased to $430 million in Q2 2024, up from $279 million in Q2 2023, reflecting improved operating performance[93]. - Free Cash Flow for Q2 2024 was $451 million, an increase from $311 million in Q2 2023, primarily due to higher net cash from operating activities[93]. - Net Revenue Margin improved to 13.3% in Q2 2024, up from 13.0% in Q2 2023, attributed to increased advertising revenue[90]. - GAAP net loss narrowed to $158 million in Q2 2024, compared to a net loss of $172 million in Q2 2023[94]. - Revenue for Q2 2024 increased by $497 million, or 23%, to $2,630 million, driven by a 20% increase in Marketplace GOV[100]. - Revenue for the first six months of 2024 increased by $975 million, or 23%, to $5,143 million, also primarily driven by a 20% increase in Marketplace GOV[101]. Cost and Expenses - Total costs and expenses for Q2 2024 were $2.83 billion, up from $2.34 billion in Q2 2023, reflecting increased operational costs[94]. - Cost of revenue for Q2 2024 increased by $250 million, or 22%, to $1,385 million, mainly due to a $215 million increase in order management costs[103]. - Cost of revenue for the first six months of 2024 increased by $511 million, or 23%, to $2,715 million, primarily driven by a $452 million increase in order management costs[104]. - Sales and marketing expenses for Q2 2024 increased by $38 million, or 8%, to $509 million, driven by a $17 million increase in advertising expenses[105]. - Research and development expenses for Q2 2024 increased by $34 million, or 13%, to $303 million, primarily due to a $30 million increase in personnel-related compensation expenses[110]. - General and administrative expenses for Q2 2024 increased by $153 million, or 45%, to $494 million, driven by an $83 million increase in office lease impairment expenses[112]. - General and administrative expenses for the first six months of 2024 increased by $187 million, or 30%, to $813 million, primarily due to an increase in legal, tax, and regulatory expenses[113]. Profitability Metrics - Adjusted cost of revenue for Q2 2024 was $1,335 million, up from $1,084 million in Q2 2023, representing a 23.1% increase[134]. - Adjusted sales and marketing expense for Q2 2024 was $470 million, compared to $429 million in Q2 2023, reflecting a 9.6% increase[135]. - Adjusted research and development expense for Q2 2024 was $156 million, up from $130 million in Q2 2023, indicating a 20% increase[136]. - Adjusted general and administrative expense for Q2 2024 was $239 million, compared to $211 million in Q2 2023, marking a 13.3% increase[137]. - Contribution Profit for Q2 2024 was $825 million, up from $620 million in Q2 2023, representing a 33.1% increase[142]. - Gross profit for Q2 2024 was $1,195 million, compared to $951 million in Q2 2023, reflecting a 25.7% increase[142]. - Gross Margin for Q2 2024 was 45.4%, compared to 44.6% in Q2 2023, showing an improvement of 0.8 percentage points[142]. - Contribution Margin for Q2 2024 was 31.4%, up from 29.1% in Q2 2023, indicating a 2.3 percentage point increase[142]. - Adjusted Gross Profit for Q2 2024 was $1,295 million, up from $1,049 million in Q2 2023, reflecting a growth of 23.4%[143]. - Adjusted Gross Margin remained stable at 49.2% for both Q2 2023 and Q2 2024[143]. - Adjusted EBITDA for the first six months of 2024 was $801 million, compared to $483 million for the same period in 2023, representing a 65.7% increase[145]. - Free Cash Flow for the first six months of 2024 was $938 million, an increase from $627 million in the same period of 2023, marking a growth of 49.7%[146]. Cash and Investments - As of June 30, 2024, the company had cash, cash equivalents, and marketable securities totaling $5.5 billion, including $3.4 billion in cash and cash equivalents[148]. - The company reported an accumulated deficit of $5.3 billion as of June 30, 2024, indicating significant historical operating losses[149]. - A share repurchase program was authorized in February 2024 for up to $1.1 billion in Class A common stock[150]. - Cash provided by operating activities for the first six months of 2024 was $1,083 million, compared to $790 million in the same period of 2023[152]. - Cash used in investing activities for the first six months of 2024 was $219 million, primarily for marketable securities purchases of $969 million[155]. - The company entered into an $800 million unsecured revolving credit facility, maturing on April 26, 2029, with no outstanding loans as of June 30, 2024[147]. - As of June 30, 2024, the aggregate carrying value of non-marketable equity investments was $42 million[161]. Risk and Currency Exposure - A hypothetical 100 basis point increase in interest rates would not have materially affected the condensed consolidated financial statements[160]. - Foreign currency gains and losses were immaterial for the three and six months ended June 30, 2024[163]. - A 10% change in exchange rates against the U.S. dollar would not have resulted in a material gain or loss based on foreign currency exposures as of June 30, 2024[163]. - The company does not hedge interest rate exposures and focuses on capital preservation and liquidity requirements[160]. - Changes in foreign currency exchange rates could reduce reported revenue and expenses from international businesses[162]. - Translation adjustments from foreign subsidiaries could result in gains or losses recorded in accumulated other comprehensive income (loss)[164]. - The company does not enter into investments for trading or speculative purposes, focusing instead on long-term capital preservation[160]. - The markets for technologies or products developed by non-marketable equity investments are typically in early stages and may not materialize[161]. - The company has experienced fluctuations in net income or loss due to transaction gains or losses related to foreign currency revaluations[163].

Three Months Ended Exhibit 99.1 DoorDash Releases Second Quarter 2024 Financial Results August 1, 2024 SAN FRANCISCO--(BUSINESS WIRE)-- DoorDash, Inc. (NASDAQ: DASH) today announced its financial results for the quarter ended June 30, 2024. In Q2 2024, we set new quarterly records for Total Orders, Marketplace GOV, and revenue with year-over-year (Y/Y) growth in revenue that exceeded Y/Y growth in Marketplace GOV for the tenth consecutive quarter. Our aim is to build a large and durable business by building ...

One idea is all it takes to enter Red Bull Basement, the global event that empowers a new generation of innovators through resources including networking, collaboration and AI technology. The team with the nation's best idea will be invited to develop it further for the World Final in Tokyo, where expert judges will choose the winner for 2024. SANTA MONICA, Calif., Aug. 1, 2024 /PRNewswire/ -- A single good idea will launch innovators from the U.S. to the global stage as Red Bull Basement returns for 2024. ...

The two organizations team up to provide local Meals on Wheels programs with a cost-effective, convenient delivery alternative to ensure homebound older adults always receive the nutritious meals they need Through Project DASH, DoorDash powers deliveries on behalf of non-profits at a discounted rate, enabling the Meals on Wheels network to address gaps in volunteer coverage. Together, DoorDash and Meals on Wheels America have already powered free Project DASH pilots for more than 30 local programs to make 2 ...

The report noted that DoorDash is also exploring software that would let merchants to build online storefronts and accept online payments, and accept eCommerce returns directly from consumers and delivering to UPS, FedEx, or the U.S. Postal Service. "With its growing number of partners, DoorDash now provides access to groceries, retail, flowers, food and other products from more than 500,000 local merchants," PYMNTS noted in reporting on the new partnerships last week. There's a wealth of opportunity here, ...

In this article A food delivery messenger is seen in Manhattan. Food from the restaurant of your choosing, delivered right to your door — at what cost? Frustrations from both sides of the table have hit the services, which have worked to protect (or achieve) profits and prop up orders while cash-strapped Americans scrutinize the checkout screen — and order totals that often add up to more than expected. The rising costs come as more Americans watch their wallets during a period of persistent inflation. "I f ...

While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise. Revenues are expected to be $2.54 billion, up 18.9% from the year-ago quarter. Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts. Thus, a positive or neg ...

A potential combination of meal delivery companies Doordash and Deliveroo was reportedly discussed but rejected in May. There are no talks going on now, according to the report. The British company has 180,000 restaurant and retail partners, and a network of 140,000 riders, per the report. In 2021, Doordash acquired its Finnish rival, Wolt, according to the report. Shares in the four biggest, publicly traded U.S./European delivery apps — DoorDash, Delivery Hero, Just Eat Takeaway and Deliveroo — are trading ...