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DoorDash

DoorDash (DASH) Q2 2026 Earnings

Reported Aug 5, 2026 at 4:12 PM ET · SEC Source

Q2 26 EPS GAAP

$0.46

MISS 2.42%

Est. $0.47

Includes $98 million in certain legal, tax, and regulatory settlements, reserves, and expenses; $13 million in transaction-related costs; $1 million in office lease impairment expenses; and $48 million in restructuring charges

Q2 26 Revenue

$4.45B

BEAT +2.66%

Est. $4.34B

vs S&P Since Q2 26

+5.2%

BEATING MARKET

DASH +6.1% vs S&P +0.9%

Market Reaction

Did DASH Beat Earnings? Q2 2026 Results

DoorDash posted a revenue beat but a narrow earnings miss in Q2 2026, painting a picture of a company growing rapidly while absorbing a heavier cost load. Revenue climbed 35.6% year-over-year to $4.45 billion, topping the $4.34 billion consensus by 2… Read more DoorDash posted a revenue beat but a narrow earnings miss in Q2 2026, painting a picture of a company growing rapidly while absorbing a heavier cost load. Revenue climbed 35.6% year-over-year to $4.45 billion, topping the $4.34 billion consensus by 2.66%, as Total Orders reached 970 million and Marketplace GOV expanded 36% to $33.08 billion. On the bottom line, GAAP EPS came in at $0.46, falling just short of the $0.47 analyst estimate by 2.42%; that figure reflects one-time charges including $98 million in legal, tax, and regulatory settlements and reserves, $48 million in restructuring charges, $13 million in transaction-related costs, and $1 million in office lease impairment expenses. The key pressure point was operating expenses, with R&D up 52% and G&A rising 39% year-over-year, driving GAAP net income down 30% to $200 million. Looking ahead, management guided Q3 2026 Marketplace GOV of $33 billion to $34 billion and Adjusted EBITDA of $950 million to $1.10 billion, though it cautioned that Q4 margins would ease sequentially on seasonal costs and stepped-up investment in its global technology platform and autonomy initiatives.

Key Takeaways

  • • Total Orders grew 27% Y/Y to 970 million (17% excluding Deliveroo)
  • • Marketplace GOV grew 36% Y/Y to $33.1 billion (23% excluding Deliveroo)
  • • Strong U.S. DashPass membership growth — more paid members added in 12 months through Q2 2026 than in previous 24 months combined
  • • U.S. restaurant category Marketplace GOV Y/Y growth accelerated slightly
  • • U.S. grocery and retail categories drove strong GOV growth with significantly improving unit economics
  • • International Marketplace GOV growth consistent with Q1 2026 with further unit economics improvement
  • • Deliveroo Marketplace GOV Y/Y growth accelerated in Q2 2026
  • • DashPass members placed approximately 75% of U.S. grocery and retail Total Orders

DASH Forward Guidance & Outlook

For Q3 2026, DoorDash expects Marketplace GOV of $33.0–$34.0 billion and Adjusted EBITDA of $950 million–$1,100 million. In H2 2026, Adjusted EBITDA as a percentage of Marketplace GOV is expected to increase Q/Q in Q3 then decline Q/Q in Q4, driven primarily by seasonal Dasher costs, annual insurance expense increases, and greater investment in the global technology platform and autonomy initiatives. The company expects 2026 stock-based compensation expense of approximately $1.2–$1.3 billion and depreciation and amortization of approximately $1.1–$1.2 billion (including ~$450 million of acquired intangible asset amortization). Year-end timing for merchant payments is expected to reduce 2026 reported Free Cash Flow by $700–$800 million. The outlook assumes stable consumer demand and foreign currency rates, includes Deliveroo contributions, and cautions that consumer spending deterioration or geopolitical/currency risks could drive results below expectations.

24/7 Wall St

DASH YoY Financials

Q2 2026 vs Q2 2025, source: SEC Filings

24/7 Wall St

DASH Revenue by Segment

With YoY comparisons, source: SEC Filings

Q4 25 Q2 26
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