$DASH

DoorDash, Inc.

CIK:0001792789|SEC Filings

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenue	$ 4,454	$ 3,284	$ 8,490	$ 6,316
Costs and expenses:
Cost of revenue, exclusive of depreciation and amortization shown separately below	2,107	1,616	4,099	3,116
Sales and marketing	821	607	1,567	1,193
Research and development	535	351	933	657
General and administrative	538	388	970	720
Depreciation and amortization	295	159	564	311
Restructuring charges	2	0	50	1
Total costs and expenses	4,298	3,121	8,183	5,998
Income from operations	156	163	307	318
Interest income, net	35	49	69	98
Other income, net	16	59	22	53
Income before income taxes	207	271	398	469
Provision for (benefit from) income taxes	8	(13)	16	(7)
Net income including redeemable non-controlling interests	199	284	382	476
Less: net loss attributable to redeemable non-controlling interests	(1)	(1)	(2)	(2)
Net income attributable to DoorDash, Inc. common stockholders	$ 200	$ 285	$ 384	$ 478
Net income per share attributable to DoorDash, Inc. Class A and Class B common stockholders
Basic (in $ per share)	$ 0.46	$ 0.67	$ 0.88	$ 1.13
Diluted (in $ per share)	$ 0.46	$ 0.65	$ 0.87	$ 1.09
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 (in shares)	434,425	425,113	434,924	423,278
Diluted (in shares)	439,345	438,377	440,833	436,980

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities
Net income including redeemable non-controlling interests	$ 382	$ 476
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	564	311
Stock-based compensation	580	517
Reduction of operating lease right-of-use assets and accretion of operating lease liabilities	72	53
Amortization of deferred contract costs	44	36
Office lease impairment expenses	1	7
Other	8	(44)
Changes in operating assets and liabilities, net of assets acquired and liabilities assumed from acquisitions:
Funds held at payment processors	68	128
Accounts receivable, net	(12)	(90)
Prepaid expenses and other current assets	16	(47)
Other assets	(68)	(142)
Accounts payable	(99)	25
Accrued expenses and other current liabilities	84	10
Payments for operating lease liabilities	(79)	(58)
Other liabilities	(23)	(43)
Net cash provided by operating activities	1,538	1,139
Cash flows from investing activities
Purchases of property and equipment	(118)	(140)
Capitalized software and website development costs	(258)	(150)
Purchases of investments	(591)	(725)
Maturities of investments	729	801
Sales of investments	29	286
Purchases of non-marketable investments	(55)	0
Acquisitions, net of cash acquired	(30)	(1,173)
Other investing activities	8	0
Net cash used in investing activities	(286)	(1,101)
Cash flows from financing activities
Proceeds from issuance of convertible notes, net of issuance costs	0	2,722
Proceeds from issuance of warrants	0	341
Purchase of convertible note hedges	0	(680)
Proceeds from exercise of stock options	2	5
Repurchase of common stock	(1,049)	0
Payments of acquisition-related deferred cash consideration	(20)	0
Other financing activities	(2)	(10)
Net cash provided by (used in) financing activities	(1,069)	2,378
Foreign currency effect on cash and cash equivalents, and restricted cash and cash equivalents	(18)	63
Net increase in cash and cash equivalents, and restricted cash and cash equivalents	165	2,479
Beginning of period	4,681	4,221
End of period	$ 4,846	$ 6,700

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 4,424	$ 4,378
Restricted cash	308	273
Short-term investments	923	1,128
Funds held at payment processors	513	587
Accounts receivable, net	1,100	1,108
Prepaid expenses and other current assets	1,148	1,169
Total current assets	8,416	8,643
Long-term investments	869	837
Operating lease right-of-use assets	454	437
Property and equipment, net	1,246	1,067
Intangible assets, net	2,005	2,260
Goodwill	5,495	5,519
Other assets	1,076	896
Total assets	19,561	19,659
Current liabilities:
Accounts payable	301	397
Operating lease liabilities	104	105
Accrued expenses and other current liabilities	5,747	5,645
Total current liabilities	6,152	6,147
Operating lease liabilities	474	461
Convertible notes, net	2,727	2,724
Other liabilities	276	281
Total liabilities	9,629	9,613
Commitments and contingencies (Note 9)
Redeemable non-controlling interests	11	13
Stockholders’ equity:
Common stock, par value, Class A, Class B and Class C shares authorized, issued and outstanding	0	0
Additional paid-in capital	14,806	14,092
Accumulated other comprehensive income	101	261
Accumulated deficit	(4,986)	(4,320)
Total stockholders’ equity	9,921	10,033
Total liabilities, redeemable non-controlling interests and stockholders’ equity	$ 19,561	$ 19,659