DoorDash’s Conference Call Starts Now

Marketplace GOV last quarter was $24.2 billion, which beat expectations of $23.6 billion.

GAAP EPS of $.65 beat expectations of $.43.

It was truly a beat across the board for DoorDash.

We’re updating live blogs tonight across a number of companies and there have been some wild after hours price swings. Yet, gains of DoorDash are holding pretty firm, the company is up 4.3% as of 4:38 p.m. ET.

The company’s earnings call will start in 22 minutes.

DoorDash reported Marketplace GOV of $24.2 billion this quarter.

Next quarter it guided to $24.2 billion to $24.7 billion in GOV.  That’s $24.45 billion at the midpoint, or about 1% growth.

1% growth versus this quarter’s revenue of $3.28 billion would be north of what Wall Street was expecting from the company next quarter, so guidance appears to be strong.

DASH | DoorDash Q2’25 Earnings Highlights:

• Adj. EPS: $0.67 [✅]; UP +175% YoY
• Revenue: $3.3B [✅]; UP +25% YoY
• Adj. Gross Margin: 52.2% [✅]; UP +30 bps YoY
• Net Income: $0.285B [✅]; UP +281% YoY
• Adjusted EBITDA: $0.655B [✅]; UP +52% YoY
• Free Cash Flow: $0.355B; DOWN -21% YoY

Outlook:

• Marketplace GOV: $24.2B – $24.7B [➖]
  • Our outlook assumes that aggregate consumer demand and key foreign currency rates remain relatively stable at current levels.
  • We anticipate significant levels of ongoing investment in new categories and international markets.

Other Key Q2 Metrics:

• R&D Expenses: $0.351B [✅]; UP +16% YoY
• GAAP Gross Profit: $1.608B; UP +35% YoY
• GAAP Sales and Marketing Expense: $0.607B; UP +19% YoY
• GAAP General and Administrative Expense: $0.388B; DOWN -21% YoY
• GAAP Cost of Revenue: $1.616B; UP +17% YoY

CEO Commentary:

• Tony Xu: “In Q2 2025, we generated new quarterly records for Total Orders, Marketplace GOV, Revenue, and GAAP net income. We are proud of how far we have come and the work that has gone into building a platform that now serves hundreds of thousands of merchants, tens of millions of consumers, and millions of Dashers across over 30 countries every month.”

CFO Commentary:

• Prabir Adarkar: “The Y/Y and Q/Q increases in Net Revenue Margin were due primarily to improved logistics efficiency, increasing contribution from advertising revenue, and a reduction in credits and refunds as a percentage of Marketplace GOV.”

We’ll be posting more on DoorDash earnings momentarily, shares are up 6% immediately.

It’s been a good day for technology stocks. The Nasdaq is up about 1.2% and DoorDash is closely tracking the broader tech market.

Shares of DoorDash started the day flat, but rallied shortly before noon. Overall they’re up 1.19% as of 2:43 p.m. ET. We’ll see if optimism during the trading day is a preview of how investors react to the company’s earnings tonight.

Here are the key figures Wall Street expects this quarter from DoorDash. Remember that going over these figures is considered an ‘earnings beat.’

• Revenue: $3.16 billion
• Adjusted EPS: $1.07
• GAAP EPS: $.43
• Free Cash Flow: $477.6 million

Looking ahead to next quarter, Wall Street expects DoorDash to guide to $3.23 billion in sales. Remember that guidance is often more important than what the company reported last quarter.