DASH
NASDAQ · Communication Services · Internet Content & Information · US
Research · Oct 30, 2026
DoorDash Q3 2026 Earnings: $17 Billion Instacart Deal, Margins Match Last Year
DoorDash Q3 2026 earnings: organic orders rose 17%, contribution profit reached 5.2% of GOV, and the company agreed to buy Instacart for about $17 billion.
Research · Oct 28, 2026
[DASH] DoorDash: Q3 2026 Earnings and Organic Growth Without Deliveroo
DoorDash grew Q2 2026 revenue 36% to $4.45 billion, or 24% excluding Deliveroo; Q3 tests whether organic orders hold above 16% at a 13.5% take rate.
Research · Sep 3, 2026
[DASH] DoorDash Thesis 2026: GMV Growth + Wolt International Integration + New Verticals (Grocery + Retail) Anchor Profitability Inflection Phase
DoorDash FY2025 revenue ~$11-12B (+18-22%) with adj. EPS ~$1.50-2.00 reflecting continued strong GMV growth (+15-20% YoY toward ~$80-85B annual) + DashPass subscription growth + Wolt European integration full-year contribution + selected new verticals expansion (grocery + alcohol + retail) + profitability inflection (GAAP profitable since 2023; continued margin expansion). Largest US food delivery platform serving ~37M monthly active users + ~2M+ Dashers + ~600K+ merchants. Multi-segment platform: US Marketplace ~75% (restaurant food delivery + DoorDash Drive white-label) + DashPass subscription ~20% ($9.99/month + selected) + International ~10% (Wolt acquired $8B 2022 + 25+ European/APAC markets) + New Verticals ~5% growing. CEO Tony Xu since founding 2013 (Stanford students Xu + Stanley Tang + Andy Fang + Evan Moore co-founded DoorDash). IPO December 9, 2020 (NASDAQ direct listing $102/share initial → $182/share first-day +78%). Wolt $8B all-stock acquisition closed May 2022 (Finland-based European delivery growing +25-35%/yr post-acquisition). GAAP profitable since Q4 2023; FY2024 adj. EPS $0.42 + FY2025E $1.50-2.00 + FY2026 target $1.80-2.50 (continued margin expansion). California Prop 22 upheld California Supreme Court July 2024 (selected favorable gig worker classification outcome). Capital return: no dividend + buybacks $1-1.5B; net cash $5B+; no formal credit rating. FY2026 thesis: GMV growth +15-18% + Wolt integration + new verticals + profitability sustainment. Risks: gig worker regulatory pressure, Uber Eats + Instacart competitive intensity, takeout demand cyclical.
Research · Aug 25, 2026
Ride-Hailing Platforms Halve AI Interaction Costs and End Premium AI Tier
Grab says cost per AI interaction for drivers and merchants roughly halved year over year while monthly interactions grew tenfold, so the tools now go to every partner.