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Jun 30, 2022
DoorDash Q2 2022 Earnings Report
DoorDash's performance was marked by growth in Total Orders and Marketplace GOV, expansion of Contribution Profit in the U.S. Restaurant Marketplace, and the completion of the combination with Wolt.
Key Takeaways
In Q2 2022, DoorDash reported a 30% year-over-year increase in revenue, reaching $1.6 billion. Total Orders grew by 23% to 426 million, and Marketplace GOV increased by 25% to $13.1 billion. The company experienced a GAAP net loss of $263 million, and Adjusted EBITDA was $103 million.
Revenue grew 30% year-over-year to $1.6 billion.
Total Orders grew 23% year-over-year to 426 million.
Marketplace GOV grew 25% year-over-year to $13.1 billion.
GAAP net loss was $263 million.
DoorDash
DoorDash
Forward Guidance
DoorDash anticipates a softer consumer spending environment in the second half of 2022 and expects significant ongoing investment in new verticals and international markets.
Positive Outlook
- Q3 Marketplace GOV is expected to be in the range of $13.0 billion to $13.5 billion.
- Q3 Adjusted EBITDA is expected to be in the range of $25 million to $75 million.
- 2022 Marketplace GOV is expected to be in the range of $51.0 billion to $53.0 billion.
- 2022 Adjusted EBITDA is expected to be in the range of $200 million to $500 million.
- Key foreign currency rates are assumed to remain stable at current levels.
Challenges Ahead
- Consumer spending could deteriorate faster or to a greater degree than anticipated.
- Increased international exposure heightens risks associated with operating in foreign markets, including geopolitical and currency risks.
- Changes in the international operating environment could negatively impact results versus the current outlook.
- Significant levels of ongoing investment in new verticals.
- Significant levels of ongoing investment in international markets.