San Francisco / CA. (ddi) DoorDash Inc. announced its financial results for the quarter ended March 31, 2023. The company continued to execute extremely well in Q1-2023 and we are proud of our team’s outstanding performance in service of our stakeholders. In Q1-2023, our focus on inputs and deep attention to detail drove strong and stable growth in our U.S. restaurant category, outsized growth in our non-restaurant categories and international markets, improved operating efficiency in many areas of our business, and disciplined expense management. First Quarter 2023 key financial metrics:
- Total Orders increased 27 percent year-over-year (Y/Y) to 512 million and Marketplace GOV increased 29 percent Y/Y to USD 15.9 billion.
- Revenue increased 40 percent Y/Y to USD 2.0 billion and Net Revenue Margin increased to 12.8 percent from 11.8 percent in Q1 2022.
- GAAP Net Loss including redeemable non-controlling interests was USD 162 million versus USD 167 million in Q1-2022, and Adjusted Ebitda increased to USD 204 million from USD 54 million in Q1-2022.
|(in millions, except percentages)||Q1-2022||Q2-2022||Q3-2022||Q4-2022||Q1-2023|
|Total Orders Y/Y growth||23||%||23||%||27||%||27||%||27||%|
|Marketplace GOV Y/Y growth||25||%||25||%||30||%||29||%||29||%|
|Revenue Y/Y growth||35||%||30||%||33||%||40||%||40||%|
|Net Revenue Margin||11.8||%||12.3||%||12.6||%||12.6||%||12.8||%|
|GAAP Gross Profit||662||USD||686||USD||714||USD||762||USD||921||USD|
|GAAP Gross Profit as a percent of Marketplace GOV||5.4||%||5.2||%||5.3||%||5.3||%||5.8||%|
|Contribution Profit as a % of Marketplace GOV||2.6||%||2.9||%||3.1||%||3.1||%||3.3||%|
|GAAP Net Loss with redeemable non-controlling interests||(167||)USD||(263||)USD||(296||)USD||(642||)USD||(162||)USD|
|GAAP Net Loss with redeemable non-controlling interests as a percent of Marketplace GOV||(1.4||)%||(2.0||)%||(2.2||)%||(4.4||)%||(1.0||)%|
|Adjusted Ebitda as a percent of Marketplace GOV||0.4||%||0.8||%||0.6||%||0.8||%||1.3||%|
|Basic shares, options and RSUs outstanding as of period end||395||448||446||452||444|
For additional information please read the Company’s PDF file below (77 KB):20230509-DOORDASH-Q1-2023