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Sep 30, 2024
DoorDash Q3 2024 Earnings Report
DoorDash drove strong growth in Total Orders, Marketplace GOV, and revenue, while generating positive GAAP net income for the first time as a public company.
Key Takeaways
DoorDash's Q3 2024 results reflected their ambition to pursue large growth opportunities, optimism in believing they can innovate around the problems of the day, and humility in focusing on small improvements in day to day operations. Total Orders increased 18% year-over-year, Marketplace GOV increased 19% year-over-year, and revenue increased 25% year-over-year. GAAP net income attributable to DoorDash, Inc. common stockholders was $162 million.
Total Orders increased 18% year-over-year to 643 million.
Marketplace GOV increased 19% year-over-year to $20.0 billion.
Revenue increased 25% year-over-year to $2.7 billion.
GAAP net income attributable to DoorDash, Inc. common stockholders was $162 million.
Forward Guidance
DoorDash expects Marketplace GOV between $20.6 billion and $21.0 billion and Adjusted EBITDA between $525 million and $575 million for Q4.
Positive Outlook
- 2024 stock-based compensation expense to be approximately $1.13 billion
- 2024 RSU issuances of approximately 6.0 million, net of expected forfeitures
- 2024 depreciation and amortization expense of approximately $562 million
- Key foreign currency rates remain relatively stable at current levels
- Anticipates significant levels of ongoing investment in new categories and international markets
Challenges Ahead
- Consumer spending in any of our geographies could deteriorate relative to our outlook, which could drive results below our expectations.
- Increasing 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 our current outlook.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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