DoorDash (DASH) investor relations material

Executive summary

• Achieved record engagement and growth across membership programs, with DashPass and international segments showing strong performance; Q1 2026 saw record membership signups and monthly active users, driven by product improvements and healthy demand.

• Revenue grew 33% year-over-year to $4.04 billion in Q1 2026, driven by a 27% increase in total orders and the acquisition of Deliveroo.

• Net income attributable to common stockholders was $184 million, down 5% year-over-year; Adjusted EBITDA rose to $754 million, up 28% year-over-year.

• Major acquisitions completed, including Deliveroo, SevenRooms, and Symbiosys, strengthening the global platform and merchant tools.

• A $5 billion share repurchase program was authorized, with $205 million repurchased YTD through May 5, 2026.

Financial highlights

• Marketplace GOV increased 37% year-over-year to $31.6 billion; Total Orders rose 27% to 933 million.

• Net revenue margin decreased to 12.8% from 13.1% due to lower consumer fees and the Deliveroo acquisition.

• Gross profit was $1.94 billion (48.2% of revenue); Adjusted Gross Margin was 51.9%.

• Free cash flow was $420 million, down from $494 million, impacted by working capital timing.

• Subscription programs and new verticals had record quarters, with new verticals gaining volume share.

Outlook and guidance

• Full-year 2026 Adjusted EBITDA as a percent of Marketplace GOV expected to increase slightly versus 2025, excluding Deliveroo; Deliveroo expected to contribute ~$200 million to 2026 Adjusted EBITDA.

• Q2 2026 Marketplace GOV expected between $32.4–$33.4 billion; Adjusted EBITDA forecasted at $770–$870 million.

• New verticals portfolio expected to be gross profit positive in the second half of the year.

• Guidance assumes stable consumer demand and currency rates, with ongoing investment in new categories and technology platform.

• Existing liquidity and credit facilities expected to cover working capital and capital expenditures for at least the next 12 months.