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Mar 31
DoorDash Q1 2025 Earnings Report
DoorDash reported record-breaking performance across multiple key financial metrics in Q1 2025.
Key Takeaways
DoorDash posted its highest-ever quarterly revenue and net income, fueled by strong order growth and expanded marketplace activity. The company also announced two strategic acquisitions, aiming to further diversify its platform and scale.
Set new quarterly records for Total Orders, GOV, revenue, and net income.
GAAP Net Income rose to $193 million from a $23 million loss a year ago.
Revenue grew to $3.032 billion, supported by increased marketplace activity.
Announced acquisitions of Deliveroo and SevenRooms to broaden global reach and platform capabilities.
DoorDash
DoorDash
Forward Guidance
DoorDash expects continued GOV and Adjusted EBITDA growth in Q2 2025, driven by ongoing expansion and operational improvements.
Positive Outlook
- Marketplace GOV projected between $23.3B–$23.7B in Q2 2025.
- Adjusted EBITDA forecasted at $600M–$650M.
- Expect Net Revenue Margin to improve QoQ and YoY in Q2.
- Consumer demand has remained strong so far in 2025.
- Ongoing investments in international and new categories to fuel future growth.
Challenges Ahead
- Q/Q decrease in Net Revenue Margin due to affordability initiatives.
- Volume shift toward lower-margin categories.
- Rising stock-based compensation expected to remain a significant expense.
- Exposure to international markets increases geopolitical and currency risk.
- No GAAP net income guidance due to variability of reconciling items.