DoorDash Q4 2022 Earnings Report
Key Takeaways
DoorDash's Q4 2022 saw a 29% year-over-year increase in Marketplace GOV, reaching $14.4 billion. The company's revenue increased by 40% year-over-year to $1.8 billion. However, GAAP net loss including redeemable non-controlling interests was $642 million, impacted by a $312 million impairment to an investment and $84 million in restructuring charges. Adjusted EBITDA stood at $117 million.
Marketplace GOV increased by 29% year-over-year to $14.4 billion.
GAAP net loss including redeemable non-controlling interests was $642 million, negatively impacted by a $312 million impairment and $84 million in restructuring charges.
Adjusted EBITDA was $117 million.
Total Orders increased 27% Y/Y to 467 million.
DoorDash
DoorDash
Forward Guidance
The company expects Q1 Marketplace GOV to be in the range of $15.1 billion to $15.5 billion, with Adjusted EBITDA between $120 million and $170 million. For 2023, Marketplace GOV is projected to be $60.0 billion to $63.0 billion, and Adjusted EBITDA is expected to be $500 million to $800 million.
Positive Outlook
- Anticipates a consumer spending environment consistent with recent months.
- Expects significant levels of ongoing investment in new categories and international markets.
- Forecast assumes key foreign currency rates remain stable at current levels.
- Expects Q1 Marketplace GOV to be in a range of $15.1 billion to $15.5 billion
- Expects 2023 Marketplace GOV to be in a range of $60.0 billion to $63.0 billion
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 current outlook.
- Q1 Adjusted EBITDA expected to be in a range of $120 million to $170 million.
- 2023 Adjusted EBITDA expected to be in a range of $500 million to $800 million.