Revenue growth remains robust at 33.1% in 2026Q1, while the company maintains structural gross margins near 51% despite the integration of lower-margin retail delivery services.
| Sales/Revenue | 14.72B | 13.72B | 10.72B | 8.63B | 6.58B | 4.89B | 2.89B | 885M | 291M |
| Revenue Growth % | 30.96% | 27.93% | 24.17% | 31.17% | 34.68% | 69.37% | 226.1% | 204.12% | - |
| Cost of Goods Sold | 7.23B | 6.74B | 5.54B | 4.59B | 3.59B | 2.34B | 1.37B | 523M | 228M |
| COGS % of Revenue | - | 49.12% | 51.69% | 53.14% | 54.5% | 47.83% | 47.4% | 59.1% | 78.35% |
| Gross Profit | 7.49B | 6.98B | 5.18B | 4.05B | 3B | 2.55B | 1.52B | 362M | 63M |
| Gross Margin % | 50.89% | 50.88% | 48.31% | 46.86% | 45.5% | 52.17% | 52.6% | 40.9% | 21.65% |
| Gross Profit Growth % | - | 34.73% | 28.03% | 35.09% | 17.45% | 67.98% | 319.34% | 474.6% | - |
| Operating Expenses | 6.77B | 6.26B | 5.22B | 4.63B | 4.12B | 3B | 1.95B | 978M | 273M |
| OpEx % of Revenue | - | 45.61% | 48.67% | 53.56% | 62.57% | 61.42% | 67.71% | 110.51% | 93.81% |
| Selling, General & Admin | 4.34B | 4.08B | 3.49B | 3.11B | 2.83B | 2.42B | 1.51B | 839M | 213M |
| SG&A % of Revenue | - | 29.72% | 32.54% | 36.03% | 42.97% | 49.43% | 52.43% | 94.8% | 73.2% |
| Research & Development | 1.52B | 1.43B | 1.17B | 1B | 829M | 430M | 321M | 107M | 51M |
| R&D % of Revenue | - | 10.43% | 10.89% | 11.62% | 12.59% | 8.8% | 11.12% | 12.09% | 17.53% |
| Other Operating Expenses | 4M | 749M | 561M | 511M | 461M | 156M | 120M | 32M | 9M |
| Operating Income | 719M | 723M | -38M | -579M | -1.12B | -452M | -436M | -616M | -210M |
| Operating Margin % | 4.88% | 5.27% | -0.35% | -6.71% | -17.07% | -9.25% | -15.11% | -69.6% | -72.16% |
| Operating Income Growth % | - | 2002.63% | 93.44% | 48.49% | -148.67% | -3.67% | 29.22% | -193.33% | - |
| EBITDA | 1.58B | 1.47B | 523M | -70M | -755M | -296M | -316M | -584M | -201M |
| EBITDA Margin % | 10.75% | 10.72% | 4.88% | -0.81% | -11.47% | -6.06% | -10.95% | -65.99% | -69.07% |
| EBITDA Growth % | 111.35% | 181.07% | 847.14% | 90.73% | -155.07% | 6.33% | 45.89% | -190.55% | - |
| D&A (Non-Cash Add-back) | 864M | 747M | 561M | 509M | 369M | 156M | 120M | 32M | 9M |
| EBIT | 825M | 942M | -38M | -577M | -1.03B | -452M | -426M | -666M | -203M |
| Net Interest Income | 120M | 0 | 199M | 152M | 30M | -11M | -25M | 18M | 6M |
| Interest Income | 120M | 0 | 199M | 152M | 32M | 3M | 7M | 18M | 7M |
| Interest Expense | 0 | 0 | 0 | 0 | 2M | 14M | 32M | 0 | 1M |
| Other Income/Expense | 213M | 216M | 194M | 45M | -275M | -11M | -22M | -50M | 6M |
| Pretax Income | 932M | 939M | 156M | -534M | -1.4B | -463M | -458M | -666M | -204M |
| Pretax Margin % | 6.33% | 6.85% | 1.46% | -6.18% | -21.25% | -9.47% | -15.87% | -75.25% | -70.1% |
| Income Tax | 6M | 4M | 39M | 31M | -31M | 5M | 3M | 1M | 0 |
| Effective Tax Rate % | 0.64% | 0.43% | 25% | -5.81% | 2.22% | -1.08% | -0.66% | -0.15% | 0% |
| Net Income | 925M | 935M | 123M | -558M | -1.36B | -468M | -461M | -667M | -204M |
| Net Margin % | 6.28% | 6.82% | 1.15% | -6.46% | -20.74% | -9.57% | -15.97% | -75.37% | -70.1% |
| Net Income Growth % | 172.86% | 660.16% | 122.04% | 59.12% | -191.67% | -1.52% | 30.88% | -226.96% | - |
| Net Income (Continuing) | 926M | 935M | 117M | -565M | -1.37B | -468M | -461M | -667M | -204M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 12M | 13M | 7M | 7M | 14M | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 2.09 | 2.13 | 0.29 | -1.42 | -3.68 | -1.39 | -7.39 | -15.44 | -4.67 |
| EPS Growth % | 174.29% | 634.48% | 120.42% | 61.41% | -164.86% | 81.2% | 52.14% | -230.62% | - |
| EPS (Basic) | - | 2.19 | 0.30 | -1.42 | -3.68 | -1.39 | -7.39 | -15.44 | -4.67 |
| Diluted Shares Outstanding | 442.33M | 439.69M | 430.24M | 392.95M | 371.41M | 336.85M | 62.39M | 43.25M | 44.3M |
| Basic Shares Outstanding | 435.43M | 427.04M | 411.55M | 392.95M | 371.41M | 336.85M | 62.39M | 43.19M | 43.66M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - |
Regulatory Labor Classification Risk
According to recent financial disclosures, DoorDash achieved a 33.1% year-over-year revenue growth rate in 2026Q1, signaling that the platform's expansion into non-restaurant categories is successfully offsetting the natural maturation of its core suburban marketplace business and driving sustained top-line acceleration across the broader logistics ecosystem.
The consistent revenue expansion suggests that the company's strategy of diversifying into grocery and retail is effectively broadening its total addressable market. Investors should monitor whether this growth trajectory remains durable as the company faces tougher year-over-year comparisons and potential saturation in its primary US suburban strongholds.
As reported in quarterly income statements, DoorDash has maintained gross margins near 51%, a figure that appears structurally resilient despite the inherent volatility of gig-economy labor costs and the ongoing integration of lower-margin retail delivery services into the company's existing logistics infrastructure.
The ability to hold gross margins above 50% suggests that the company's batching technology and localized density are successfully mitigating the inflationary pressures on Dasher compensation. However, the reliance on these operational efficiencies warrants further investigation into whether margin expansion is sustainable without significant breakthroughs in autonomous delivery.
Based on the provided income statement data, DoorDash has successfully transitioned to positive operating income, with 2026Q1 operating margins reaching 3.7%, indicating that the company is beginning to realize the benefits of scale as revenue growth outpaces the incremental costs of corporate overhead and platform maintenance.
The shift from negative operating margins in early 2024 to consistent profitability suggests that management is exercising greater discipline over SG&A expenses. Nevertheless, the modest margin profile implies that the business remains highly sensitive to fluctuations in marketing spend and the competitive necessity of consumer incentives.
Analysis of recent filings reveals that DoorDash continues to utilize significant stock-based compensation, with $231 million recorded in 2026Q1, which complicates the assessment of true GAAP profitability and suggests that reported net income may overstate the company's underlying cash-generating capacity for common shareholders.
The recurring nature of these non-cash expenses warrants caution, as they represent a persistent dilution risk that is not fully captured by headline EPS figures. Investors should focus on the gap between GAAP net income and adjusted cash flow metrics to better understand the company's actual economic performance.
As highlighted in recent industry reports, the implementation of minimum pay mandates in major urban markets poses a significant risk to DoorDash's business model, potentially forcing a structural increase in delivery costs that could compress margins and test the price elasticity of the platform's consumer base.
While the company has demonstrated resilience thus far, the potential for broader regulatory reclassification of Dashers remains the most significant threat to the current cost structure. Any shift toward an employee-based model would likely necessitate a fundamental reassessment of the company's long-term profitability and competitive positioning.
Quick answers to the most common questions about buying DASH stock.
For fiscal year 2025, DoorDash, Inc. (DASH) reported total revenue of $13.72B. This represents a 4613.7% increase compared to $291.0M in 2018.
DoorDash, Inc. (DASH) is profitable, generating $935.0M in net income for the fiscal year ending 2025 with a net profit margin of 6.8%.
DoorDash, Inc. (DASH) reported an operating income of $723.0M, resulting in an operating profit margin of 5.3%. This margin reflects the operational efficiency of the business before interest and taxes.
DoorDash, Inc. (DASH) generated $6.98B in gross profit for the year, representing a gross profit margin of 50.9%. This demonstrates the company's core pricing power and production efficiency.