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Sep 30, 2021
DoorDash Q3 2021 Earnings Report
Revenue increased, driven by growth in total orders and Marketplace GOV.
Key Takeaways
DoorDash's Q3 2021 results showed strong growth with a 45% increase in revenue to $1.3 billion, a 47% increase in Total Orders to 347 million, and a 44% increase in Marketplace GOV to $10.4 billion. The company exited the quarter with over 9 million DashPass members.
DashPass members and orders reached an all-time high, exiting the quarter with over 9 million members.
Percentage of MAU engaging with a new vertical increased to 12% in September from 10% in June.
Contribution Profit as a percentage of GOV increased from the U.S. Restaurant marketplace on both a Q/Q and Y/Y basis.
Over 3 million people dashed in Q3, earning over $2.8 billion.
Forward Guidance
The company expects Q4 Marketplace GOV to be in the range of $10.3 billion to $10.7 billion, with Adjusted EBITDA in the range of $0 million to $100 million.
Positive Outlook
- Ongoing investment in new categories
- Ongoing investment in international markets
- Ongoing investment in Platform Services
Challenges Ahead
- Continued normalization of retention among newer cohorts
- Continued normalization of order frequency among newer cohorts
- Normalization as in-store dining resumes
- Normalization as holiday travel resumes
- Significant uncertainty remains and consumer behavior could deviate from expectations
Historical Earnings Impact
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Avg. Return Before/After Earnings
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