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Sep 30, 2023
DoorDash Q3 2023 Earnings Report
DoorDash's Q3 2023 was marked by robust growth in total orders, Marketplace GOV, and revenue, alongside a significant improvement in GAAP net loss and a record-high Adjusted EBITDA.
Key Takeaways
DoorDash's Q3 2023 saw a 24% increase in Total Orders and Marketplace GOV, and a 27% increase in revenue. The company also reported a GAAP net loss of $75 million and an Adjusted EBITDA of $344 million.
Total Orders increased by 24% year-over-year to 543 million.
Marketplace GOV increased by 24% year-over-year to $16.8 billion.
Revenue increased by 27% year-over-year to $2.2 billion, with Net Revenue Margin increasing to 12.9%.
GAAP net loss improved to $75 million, and Adjusted EBITDA reached $344 million.
Forward Guidance
DoorDash anticipates Marketplace GOV between $17.0 billion and $17.4 billion and Adjusted EBITDA between $320 million and $380 million for Q4.
Positive Outlook
- Key foreign currency rates remain relatively stable at current levels.
- Significant levels of ongoing investment in new categories.
- Significant levels of ongoing investment in international markets.
- Providing outlook for Marketplace GOV.
- Providing outlook for Adjusted EBITDA.
Challenges Ahead
- Consumer spending in any geographies could deteriorate relative to outlook.
- Increasing international exposure heightens risks associated with operating in foreign markets.
- Geopolitical risks.
- Currency risks.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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