DASH earnings analysis
What we found in DASH's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
DoorDash, Inc. posted Q1 2026 results with revenues of $4.036 billion, marking a 33% increase year-over-year, but falling slightly short of the $4.145 billion consensus estimate. EPS came in at $0.42, beating expectations of $0.37. Management highlighted substantial growth in Marketplace Gross Order Value (GOV) at $31.6 billion, up 37% year-over-year. However, net income decreased to $184 million from $193 million year-over-year, driven by rising operational costs and restructuring charges.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Growth Exceeds Prior Year
- Q1 2026 revenue reached $4.036 billion, a 33% increase from $3.032 billion in Q1 2025.
- Strong Marketplace GOV Growth
- Marketplace GOV increased to $31.6 billion, reflecting a 37% growth year-over-year.
- EPS Surprises to the Upside
- Reported EPS was $0.42, surpassing consensus estimates of $0.37.
- Growth in Total Orders
- Total Orders rose to 933 million, up 27% from 732 million in Q1 2025.
- Adjusted EBITDA Improvement
- Adjusted EBITDA rose to $754 million, an increase from $590 million the year prior.
- Sufficient Liquidity for Operations
- Cash and cash equivalents stand at $4.6 billion, signaling strong liquidity position.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Increased Restructuring Costs
- Restructuring charges surged to $48 million in Q1 2026, up from $1 million in Q1 2025.
- Decline in Net Income
- Net income decreased to $184 million from $193 million year-over-year.
- Operating Costs Rise
- Total operating expenses increased by 35% to $3.885 billion compared to $2.877 billion in Q1 2025.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.42
What they said about what is next.
Forward guidance for Q2 2026 includes Marketplace GOV expectation of $32.4 billion - $33.4 billion.
The filing reads about the same as the one before it.
What came before.
- 10-K · May 6, 2026
- DoorDash, Inc. posted strong financial results in 2025, with revenues reaching $13.7 billion, up 28% year-over-year. The company has expanded its service offerings significantly through acquisitions, including Deliveroo…
- 10-K · February 18, 2026
- DoorDash, Inc. reported significant growth in 2025, with total revenue reaching $13.7 billion, up 28% from the previous year. The company also achieved a net income of $935 million, marking a notable recovery from a…
- 10-Q · November 6, 2025
- DoorDash reported a strong Q3 2025 with a 27% YoY increase in revenue to $3.45 billion, although it missed EPS expectations at $0.55 vs. $0.68 consensus. The company's gross margin improved to 51% while operating margin…
- 10-Q · August 6, 2025
- DoorDash reported strong second-quarter results, achieving revenue of $3.28 billion, a 25% increase year-over-year, alongside an impressive EPS of $0.65, surpassing estimates by 51%. Key growth drivers included…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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