DASH 8-K — Smart Summary

DoorDash reported Q1 2026 financial results on May 6, 2026, covering the quarter ended March 31, 2026. The company achieved record membership signups and a new high for monthly active users, with Total Orders up 27% Y/Y to 933 million and revenue up 33% Y/Y to $4.0 billion. GAAP net income attributable to DoorDash common stockholders decreased 5% Y/Y to $184 million, while Adjusted EBITDA increased 28% Y/Y to $754 million.

• Revenue: $4,036 million, +33% Y/Y (Q1 2025: $3,032 million); excluding Deliveroo, revenue increased 21% Y/Y
• GAAP gross profit: $1,944 million (48.2% gross margin vs. 48.7% in Q1 2025)
• GAAP net income attributable to DoorDash, Inc. common stockholders: $184 million, -5% Y/Y (Q1 2025: $193 million)
• Diluted EPS: $0.42 (Q1 2025: $0.44)
• Adjusted EBITDA: $754 million, +28% Y/Y (Q1 2025: $590 million); Adjusted EBITDA as % of Marketplace GOV: 2.4%, down from 2.6% in Q1 2025
• Net cash provided by operating activities: $594 million, -6% Y/Y (Q1 2025: $635 million)
• Free Cash Flow: $420 million, -15% Y/Y (Q1 2025: $494 million)
• Total Orders: 933 million, +27% Y/Y (Q1 2025: 732 million)

• Marketplace GOV: $31,604 million, +37% Y/Y (Q1 2025: $23,076 million); excluding Deliveroo, Marketplace GOV increased 24% Y/Y
• U.S. restaurant category: Y/Y growth in Marketplace GOV higher than Q1 2025 pace and slightly above average Y/Y growth over the last 16 quarters, but lower than Q4 2025 pace; drove Y/Y growth in new consumers and order rates among mature cohorts
• U.S. grocery and retail: Strong Y/Y growth in Marketplace GOV; more new consumers attracted in Q1 2026 than any previous quarter; strong Y/Y growth in order rates among mature cohorts
• International/Deliveroo: Deliveroo contributed $362 million in revenue in Q1 2026; accelerated Y/Y growth in Deliveroo MAUs and Total Orders; accelerated Y/Y growth in Marketplace GOV in the U.K., France, and Italy; unit economics in international marketplaces (excluding Deliveroo) increased Y/Y
• Net Revenue Margin: 12.8% in Q1 2026, down from 13.1% in Q1 2025
• Contribution Profit: $1,380 million (34.2% Contribution Margin) vs. $1,020 million (33.6%) in Q1 2025

• Cash and cash equivalents: $4,575 million as of March 31, 2026 (vs. $4,378 million as of December 31, 2025)
• Short-term investments: $958 million; long-term investments: $849 million as of March 31, 2026
• Convertible notes, net: $2,725 million as of March 31, 2026
• Share repurchase: Board authorized repurchase of up to $5.0 billion of Class A common stock in February 2025; year to date through May 5, repurchased 1.4 million shares for $205 million; approximately $4,795 million remaining under the current authorization
• Common stock repurchased in Q1 2026 per cash flow statement: $162 million

• No direct CEO or CFO quotes were included in the press release text.

• Q2 2026 Marketplace GOV: $32.4 billion – $33.4 billion
• Q2 2026 Adjusted EBITDA: $770 million – $870 million
• Q2 2026 gross cost of Dasher gas relief program anticipated to be over $50 million, expected to be at least partially funded by adjusting investment in other areas
• Full year 2026: Adjusted EBITDA as a % of Marketplace GOV expected to increase slightly vs. 2025, excluding the impact of Deliveroo in both periods
• Deliveroo expected to contribute approximately $200 million to Adjusted EBITDA in 2026
• 2026 stock-based compensation expense: approximately $1.3 billion to $1.4 billion
• 2026 depreciation and amortization expense: approximately $1.1 billion to $1.2 billion, inclusive of approximately $450 million of amortization of acquired intangible assets

• Total Orders increased 27% Y/Y to 933 million in Q1 2026; excluding Deliveroo, Total Orders increased 16% Y/Y.
• Marketplace GOV increased 37% Y/Y to $31.6 billion in Q1 2026; excluding Deliveroo, Marketplace GOV increased 24% Y/Y; currency changes added approximately 2% to Y/Y growth.
• Revenue increased 33% Y/Y to $4.036 billion in Q1 2026; excluding Deliveroo, revenue increased 21% Y/Y; revenue attributable to Deliveroo was $362 million.
• GAAP net income attributable to DoorDash, Inc. common stockholders was $184 million in Q1 2026, a decrease of 5% Y/Y from $193 million in Q1 2025 and a decrease of 14% Q/Q from $213 million in Q4 2025.
• Adjusted EBITDA was $754 million in Q1 2026, up 28% Y/Y from $590 million; Adjusted EBITDA as a % of Marketplace GOV was 2.4%, down from 2.6% in Q1 2025.
• Net cash provided by operating activities was $594 million and Free Cash Flow was $420 million in Q1 2026, down from $635 million and $494 million, respectively, in Q1 2025.
• Q2 2026 guidance: Marketplace GOV of $32.4 billion–$33.4 billion and Adjusted EBITDA of $770 million–$870 million; the gross cost of the Dasher gas relief program is anticipated to be over $50 million in Q2 2026.
• Full year 2026 outlook: Adjusted EBITDA as a % of Marketplace GOV expected to increase slightly vs. 2025 (excluding Deliveroo in both periods); Deliveroo expected to contribute approximately $200 million to 2026 Adjusted EBITDA; stock-based compensation expense of approximately $1.3 billion to $1.4 billion; depreciation and amortization expense of approximately $1.1 billion to $1.2 billion, inclusive of approximately $450 million of amortization of acquired intangible assets.
• Share repurchase: Board authorized repurchase of up to $5.0 billion of Class A common stock in February 2025; year to date through May 5, 2026, 1.4 million shares repurchased for $205 million; approximately $4,795 million remains under the current authorization.
• Contribution Profit was $1.380 billion (Contribution Margin of 34.2%) in Q1 2026; GAAP gross profit was $1.944 billion (Gross Margin of 48.2%); Restructuring charges were $48 million in Q1 2026 vs. $1 million in Q1 2025.