Companies /Consumer Cyclical

DoorDash Inc - Class A

NASDAQ: DASH Internet Retail
$222.00
▼ $4.24 (−1.87%) today
Markets closed · 9:57pm ET

Q2 2025 Earnings

Reported Aug 6, 2025, 4:09pm ET · SEC source
$0.65
Beat +49.53%
EPS · est. $0.43
$3.3B
Beat +3.83%
Revenue · est. $3.2B
−8.2%
Trailing market
DASH vs S&P since report
1 quarter
Consecutive EPS misses

Market Reaction

% change · around the report
−6%−3%0+3%Aug 6Aug 7report 4:09pm ETearnings+0.1%−1.7%
−6%−3%0+3%Aug 6Aug 7earnings+0.1%−1.7%
DASH −1.7%S&P 500 +0.1%
−6%−3%0+3%Aug 6Aug 7report 4:09pm ETearnings+0.6%−1.7%
−6%−3%0+3%Aug 6Aug 7earnings+0.6%−1.7%
DASH −1.7%NASDAQ +0.6%
−8%−4%0+4%Aug 5Aug 14report 4:09pm ETearnings+2.0%−9.3%
−8%−4%0+4%Aug 5Aug 14earnings+2.0%−9.3%
DASH −9.3%S&P 500 +2.0%
−8%−4%0+4%Aug 5Aug 14report 4:09pm ETearnings+2.1%−9.3%
−8%−4%0+4%Aug 5Aug 14earnings+2.1%−9.3%
DASH −9.3%NASDAQ +2.1%
+5.00%
Day of report
−4.35%
Next session
−8.69%
One week
−5.34%
30 days

S&P 500 over the same 30 days: +2.86%.

Did DASH Beat Earnings? Q2 2025 Results

DoorDash delivered a decisive breakout quarter in Q2 2025, posting earnings per share of $0.65 against a consensus estimate of $0.43, a 51.16% beat, while revenue climbed 24.9% year-over-year to $3.28 billion, underscoring a meaningful inflection toward sustained profitability. The headline numbers were driven by a sharp improvement in logistics efficiency, a growing advertising revenue contribution, and reduced credits and refunds as a percentage of Marketplace GOV, which itself reached $24.24 billion, up 23% year-over-year on 761 million total orders. Perhaps most strikingly, the company swung to a GAAP net income of $285 million from a loss of $157 million in Q2 2024, while Adjusted EBITDA surged 52% year-over-year to $655 million. For investors <a href="https://247wallst.com/investing/2025/08/06/live-will-q2-earnings-fuel-doordashs-dash-next-rally/">watching the stock's next move</a>, management guided Q3 Marketplace GOV of $24.20 billion to $24.70 billion and Adjusted EBITDA of $680 million to $780 million, signaling continued margin expansion even as the pending Deliveroo acquisition remains excluded from all forward estimates.

Key Takeaways
  • Total Orders increased 20% Y/Y to 761 million, a new quarterly record
  • Marketplace GOV increased 23% Y/Y to $24.2 billion, a new quarterly record
  • Net Revenue Margin expanded to 13.5% from 13.3% in Q2 2024, driven by improved logistics efficiency, growing advertising revenue, and reduced credits and refunds
  • DashPass membership growth drove average order frequency to an all-time high
  • Accelerated Y/Y growth in monthly active users and DashPass/Wolt+ members vs Q1 2025
  • Strong U.S. restaurant category performance with accelerating Y/Y order growth
  • New consumer cohort sizes increased Y/Y in each month of Q2 2025
  • Mature U.S. cohort retention rates improved Y/Y
  • International order growth outpaced U.S. marketplace growth
  • Record Wolt+ member additions in Q2 2025
  • International unit economics improved Y/Y and Q/Q, driven by Dasher efficiency

Forward Guidance & Outlook

For Q3 2025, DoorDash expects Marketplace GOV of $24.2 billion to $24.7 billion and Adjusted EBITDA of $680 million to $780 million. Full-year 2025 stock-based compensation expense is expected to be approximately $1.0 billion to $1.1 billion, and depreciation and amortization expense approximately $660 million to $700 million. The outlook assumes stable aggregate consumer demand and key foreign currency rates, and anticipates significant ongoing investment in new categories and international markets. The outlook excludes any potential impact from the proposed Deliveroo acquisition, which is expected to close in Q4 2025. The company cautioned that consumer spending deterioration or changes in the international operating environment, including geopolitical and currency risks, could drive results below expectations.

DASH YoY Financials

Q2 2025 vs Q2 2024 · SEC filings Q2 2024 Q2 2025
$0$1.0B$2.0B$3.0B$2.6B$3.3BRevenue$1.2B$1.6BGross Profit$58.0M$163.0MOperating Income$74.7M$285.0MNet Income
$0$1.0B$2.0B$3.0BRevenueGross ProfitOperating IncomeNet Income

DASH Revenue by Segment

DoorDash (excluding Deliveroo)
Deliveroo

Figures from SEC filings and company reports. Not investment advice.