DoorDash Q4 2024 Earnings Report

Key Takeaways

DoorDash reported strong Q4 2024 results, with revenue increasing 25% YoY to $2.87 billion. GAAP net income improved significantly to $141 million, compared to a loss of $154 million in Q4 2023. Total Orders grew 19% YoY to 685 million, and Marketplace GOV rose 21% YoY to $21.3 billion. Adjusted EBITDA reached an all-time high of $566 million.

Total Revenue

$2.87B

Previous year: $2.3B

+24.8%

EPS

$0.33

Previous year: -$0.39

-184.6%

Marketplace GOV

$21.3B

Previous year: $17.6B

+20.6%

Total Orders

685M

Previous year: 574M

+19.3%

Gross Profit

$1.37B

Previous year: $1.07B

+27.7%

Cash and Equivalents

$4.02B

Previous year: $4.08B

-1.4%

Free Cash Flow

$420M

Previous year: $511M

-17.8%

Total Assets

$12.8B

Previous year: $10.8B

+18.5%

DoorDash Revenue

DoorDash EPS

Forward Guidance

DoorDash expects continued revenue growth in 2025, with Marketplace GOV projected between $22.6B - $23.0B in Q1 2025. Adjusted EBITDA is expected to range from $550M to $600M. The company plans to invest in new categories and international markets while maintaining operational efficiency.

Positive Outlook

Projected Marketplace GOV growth in Q1 2025.
Expected increase in Adjusted EBITDA margin.
Continued investment in international expansion.
Strong consumer engagement with growing order frequency.
Expanding merchant partnerships and product offerings.

Challenges Ahead

Potential macroeconomic headwinds affecting consumer spending.
Increased international exposure brings currency and geopolitical risks.
Higher expected stock-based compensation expense of $1.1B - $1.2B in 2025.
Ongoing regulatory and legal risks in various markets.
Increased investments may pressure short-term profitability.