DoorDash (DASH) Q1 2026 Financial Results Summary

Release Date: May 6, 2026

DoorDash, Inc. (NASDAQ: DASH) announced its financial results for the quarter ended March 31, 2026. The company reported continued strong performance, driven by product improvements and healthy consumer demand, resulting in record membership signups and increased consumer engagement across its marketplaces.

First Quarter 2026 Key Financial Metrics

• Total Orders: Increased 27% year-over-year (Y/Y) to 933 million (compared to 732 million in Q1 2025).
• Marketplace Gross Order Value (GOV): Increased 37% Y/Y to $31.6 billion (up from $23.0 billion in Q1 2025).
• Revenue: Increased 33% Y/Y to $4.0 billion (up from $3.0 billion in Q1 2025).
• GAAP Net Income Attributable to DoorDash, Inc. Common Stockholders: Decreased 5% Y/Y to $184 million (down from $193 million in Q1 2025).
• Adjusted EBITDA: Increased 28% Y/Y to $754 million (up from $590 million in Q1 2025).

Operational Highlights

Marketplace GOV increased 37%, and revenue grew 33%, both Y/Y. The growth rates excluding the impact of Deliveroo were 24% for GOV and 21% for revenue.

In the U.S. Restaurant category for Q1 2026, growth in new consumers and order rates among mature cohorts contributed to a Y/Y increase in Marketplace GOV, outperforming Q1 2025.

Investments have driven improvements in product selection and overall consumer experience, leading to significant sales growth for U.S. restaurant partners.

In grocery and retail categories, improvements in service quality attracted a record number of new consumers during Q1 2026 compared to previous quarters.

International operations, particularly through Deliveroo, showed early promise with accelerated growth in monthly active users and orders, while unit economics improved for markets excluding Deliveroo.

The U.S. DashPass membership program saw accelerated growth Y/Y, reflecting effective retention and engagement strategies. Similar growth patterns were noted for membership programs internationally.

Financial Outlook

For Q2 2026, DoorDash anticipates Marketplace GOV to be between $32.4 billion and $33.4 billion with Adjusted EBITDA expected to be between $770 million and $870 million.

The expectation is also set for Adjusted EBITDA as a percentage of Marketplace GOV to slightly increase compared to 2025, excluding Deliveroo.

The company highlighted the gross cost of its Dasher gas relief program, projecting it to exceed $50 million, to be funded partially by adjusting investments in other areas.

Stock-based compensation expense is estimated to be $1.3 billion to $1.4 billion for 2026.

Share Repurchase Program

In February 2025, DoorDash’s board of directors authorized the repurchase of up to $5 billion of Class A common stock. As of May 5, 2026, 1.4 million shares have been repurchased for approximately $205 million, leaving about $4.8 billion remaining under the current stock repurchase authorization.

Summary of Financial Performance

• Total Orders: 933 million (up 27%).
• Marketplace GOV: $31.6 billion (up 37%).
• Revenue: $4.0 billion (up 33%).
• GAAP Net Income: $184 million (down 5%).
• Adjusted EBITDA: $754 million (up 28%).
• Free Cash Flow: $420 million (down from $494 million in Q1 2025).

The company generated net cash from operating activities of $594 million for Q1 2026, down from $635 million in the prior year.

DoorDash will host a conference call and webcast to discuss these quarterly results in detail, providing further insights into its strategies and upcoming goals.

Here are the extracted tables in Markdown format:

DOORDASH, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(in millions, except share amounts which are reflected in thousands, and per share data)

Note: All amounts are in thousands/millions.

Three Months Ended	2025	2026
Revenue	$ 3,032	$ 4,036
Costs and expenses:
Cost of revenue, exclusive of depreciation and amortization shown separately below
Sales and marketing	586	746
Research and development	306	398
General and administrative	332	432
Depreciation and amortization	152	269
Restructuring charges	1	48
Total costs and expenses	$ 2,877	$ 3,885
Income from operations	155	151
Interest income, net	49	34
Other income (expense), net	-6	6
Income before income taxes	198	191
Provision for income taxes	6	8
Net income including redeemable non-controlling interests	192	183
Less: net loss attributable to redeemable non-controlling interests	-1	-1
Net income attributable to DoorDash, Inc. common stockholders	$ 193	$ 184
Net income per share attributable to DoorDash, Inc. Class A and Class B common stockholders
Basic	$ 0.46	$ 0.42
Diluted	$ 0.44	$ 0.42
Weighted-average number of shares outstanding used to compute net income per share attributable to DoorDash, Inc. Class A and Class B common stockholders
Basic	421,422	435,429
Diluted	435,563	442,326

DOORDASH, INC. CONDENSED CONSOLIDATED BALANCE SHEETS

(in millions)

Note: All amounts are in millions.

	December 31, 2025	March 31, 2026
Assets
Current assets:
Cash and cash equivalents	4,378	4,575
Restricted cash	273	300
Short-term investments	1,128	958
Funds held at payment processors	587	605
Accounts receivable, net	1,108	1,034
Prepaid expenses and other current assets	1,169	1,120
Total current assets	8,643	8,592
Long-term investments	837	849
Operating lease right-of-use assets	437	437
Property and equipment, net	1,067	1,142
Intangible assets, net	2,260	2,118
Goodwill	5,519	5,499
Other assets	896	1,074
Total assets	19,659	19,711
Liabilities, Redeemable Non-controlling Interests and Stockholders’ Equity
Current liabilities:
Accounts payable	397	268
Operating lease liabilities	105	105
Accrued expenses and other current liabilities	5,645	5,653
Total current liabilities	6,147	6,026
Operating lease liabilities	461	457
Convertible notes, net	2,724	2,725
Other liabilities	281	293
Total liabilities	9,613	9,501
Redeemable non-controlling interests	13	12
Stockholders’ equity:
Common stock	—	—
Additional paid-in capital	14,092	14,379
Accumulated other comprehensive income	261	117
Accumulated deficit	-4,320	-4,298
Total stockholders’ equity	10,033	10,198
Total liabilities, redeemable non-controlling interests and stockholders’ equity	19,659	19,711

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