San Francisco / CA. (ddi) DoorDash Inc. (DD) announced its financial results for the quarter ended March 31, 2024. In Q1-2024, we set new quarterly records for Total Orders, Marketplace GOV, and revenue, while improving our net loss compared to a year ago. An evergreen goal for us is to execute at a high level against our operational targets, as this drives incremental scale and efficiency that we can reinvest to solve new problems for merchants, consumers, and Dashers. We executed well from this perspective in Q1-2024, which helped us expand local commerce in the communities we operate in and increase our long-term growth and profit potential. We hope to continue our progress in the quarters and years to come.
Q1-2024 key financial metrics
- Total Orders increased 21 percent year-over-year (Y/Y) to 620 million and Marketplace GOV increased 21 percent Y/Y to USD 19.2 billion.
- Revenue increased 23 percent Y/Y to USD 2.5 billion and Net Revenue Margin increased to 13.1 percent from 12.8 percent in Q1-2023.
- GAAP net loss including redeemable non-controlling interests was USD 25 million versus USD 162 million in Q1-2023, and Adjusted Ebitda increased to USD 371 million from 204 million in Q1-2023.
