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Dec 31, 2022
DoorDash Q4 2022 Earnings Report
DoorDash's Q4 2022 earnings report highlighted strong growth in Marketplace GOV, an increase in user base with higher DashPass penetration, significant improvements in consumer experience quality, expansion of non-restaurant categories, and improved margin trends across various categories and countries.
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.
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.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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