Income Statement
Quarterly Data
The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.
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DoorDash, Inc. pages available for free this week:
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Price to FCFE (P/FCFE)
- Price to Operating Profit (P/OP) since 2020
- Price to Book Value (P/BV) since 2020
- Price to Sales (P/S) since 2020
- Analysis of Revenues
- Analysis of Debt
- Aggregate Accruals
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DoorDash, Inc., consolidated income statement (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).
- Revenue
- Revenue exhibited a consistent upward trend over the observed quarterly periods, increasing from $1,077 million in March 2021 to $3,032 million by March 2025. This growth suggests steady expansion in sales and customer activity.
- Cost of Revenue, Exclusive of Depreciation and Amortization
- The cost of revenue also increased steadily, from $563 million in March 2021 to $1,500 million in March 2025. The growth in costs is roughly proportional to the increase in revenue, reflecting rising operational expenses aligned with business scaling.
- Gross Profit
- Gross profit rose from $514 million in March 2021 to $1,532 million in March 2025. The upward trend reflects improving top-line revenues outpacing direct costs, indicating enhanced core operational profitability.
- Sales and Marketing Expenses
- Sales and marketing costs fluctuated but generally showed an increasing pattern, rising from $333 million in March 2021 to $586 million in March 2025. This supports an ongoing investment in customer acquisition and market expansion activities.
- Research and Development Expenses
- Research and development expenditures increased notably from $82 million in March 2021 to $306 million in March 2025. This represents a strategic emphasis on innovation and product improvement over the period.
- General and Administrative Expenses
- General and administrative expenses showed some volatility, fluctuating between $169 million and $494 million, and ending at $332 million in the last reported quarter. The peak around mid-2024 suggests a temporary escalation in overhead costs.
- Depreciation and Amortization
- Depreciation and amortization expenses rose steadily from $29 million in March 2021 to $152 million in March 2025, reflecting increased capital investment and asset base expansion over the timeframe.
- Restructuring Charges
- Restructuring charges were minimal but peaked to $84 million in December 2022, suggesting a discrete period of organizational or operational changes.
- Income (Loss) From Operations
- Operating losses persisted throughout most of the periods, though the magnitude fluctuated. The largest loss occurred in December 2022 at $370 million. From late 2024 onwards, operating results turned positive, reaching $155 million in March 2025, indicating improved operational efficiency and cost control.
- Interest Income, Net
- Interest income increased steadily from $2 million in March 2021 to a peak of $54 million in September 2024, then slightly declined toward the end of the period. This suggests growing interest-generating assets or investments.
- Interest Expense
- Interest expense remained low and sporadic, generally around $1 million or less, indicating limited borrowing costs or debt levels during the reported timeframe.
- Other Income (Expense), Net
- Other income and expenses were mostly negligible except for significant negative spikes in December 2022 (-$305 million) and December 2023 (-$101 million), pointing to unusual or one-time expenses in those quarters.
- Income (Loss) Before Income Taxes
- Loss before income taxes showed a general pattern of losses with a steep decline in December 2022 (-$659 million). Positive improvements are seen in late 2024 and early 2025, reaching $198 million by March 2025, aligning with the turnaround in operating income.
- Provision for Income Taxes
- The tax provision showed variability, with occasional benefits reducing net losses in some quarters. However, there were periods with negative tax provisions (tax expense), including notable fluctuations in early 2025.
- Net Income (Loss) Attributable to DoorDash, Inc. Common Stockholders
- Net losses dominated through the majority of the period, reflecting ongoing investment and expansion costs. The largest loss occurred in December 2022 (-$640 million). A significant positive turnaround is observed starting from September 2024, with net income improving to $193 million by March 2025, suggesting successful progress toward profitability.