DoorDash: Releases Second Quarter 2022 Financial Results

San Francisco / CA. (ddi) DoorDash Inc. (DDI) announced financial results for the quarter ended June 30, 2022. In Q2-2022, the company executed well in an uncertain and rapidly shifting macroeconomic environment. On a reported basis, including Wolt from May 31, 2022, Marketplace GOV grew 25 percent Y/Y to USD 13.1 billion in Q2. Excluding Wolt, DoorDash Marketplace GOV grew 22 percent Y/Y to USD 12.8 billion, driven primarily by growth in the number of consumers and in average order frequency, with a small benefit from increased average order values (AOVs) on the DoorDash Marketplace associated with inflation. Similar to recent quarters, Marketplace GOV in DoorDash’s international and new verticals businesses grew faster on a Y/Y basis than the Marketplace GOV in our U.S. Restaurant Marketplace.

The increase in Marketplace GOV, along with healthy Dasher supply and leverage on advertising expenses drove Q2 Adjusted Ebitda to USD 103 million, which was above the high end of our outlook range.

Excluding Wolt, Q2 GAAP Net Loss for DoorDash was USD 218 million. Wolt GAAP Net Loss for the period from May 31 through the end of Q2 was USD 45 million. Q2 Adjusted Ebitda of USD 103 million included USD 128 million of Adjusted Ebitda from DoorDash, and (USD 25) million of Adjusted Ebitda from Wolt, which was included from May 31 through the end of the quarter. Excluding Wolt, Q2 Adjusted Ebitda from DoorDash was the highest in our history, driven by further growth in Contribution Profit from our U.S. Restaurant Marketplace, offset by further investments in international markets and new verticals.

For additional information please read the Company’s PDF file below (215 KB):