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.

DoorDash, Inc., consolidated income statement (quarterly data)

US$ in millions

3 months ended:	Dec 31, 2025	Sep 30, 2025	Jun 30, 2025	Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021
Revenue	3,955)	3,446)	3,284)	3,032)	2,873)	2,706)	2,630)	2,513)	2,303)	2,164)	2,133)	2,035)	1,818)	1,701)	1,608)	1,456)	1,300)	1,275)	1,236)	1,077)
Cost of revenue, exclusive of depreciation and amortization	(1,935)	(1,687)	(1,616)	(1,500)	(1,453)	(1,374)	(1,385)	(1,330)	(1,229)	(1,156)	(1,135)	(1,069)	(1,014)	(931)	(880)	(763)	(635)	(585)	(555)	(563)
Gross profit	2,020)	1,759)	1,668)	1,532)	1,420)	1,332)	1,245)	1,183)	1,074)	1,008)	998)	966)	804)	770)	728)	693)	665)	690)	681)	514)
Sales and marketing	(707)	(576)	(607)	(586)	(541)	(483)	(509)	(504)	(460)	(449)	(471)	(496)	(429)	(418)	(421)	(414)	(413)	(446)	(427)	(333)
Research and development	(419)	(355)	(351)	(306)	(297)	(289)	(303)	(279)	(253)	(250)	(269)	(231)	(250)	(226)	(205)	(148)	(133)	(115)	(100)	(82)
General and administrative	(480)	(400)	(388)	(332)	(324)	(315)	(494)	(319)	(320)	(289)	(341)	(285)	(300)	(311)	(291)	(245)	(224)	(188)	(216)	(169)
Depreciation and amortization	(267)	(169)	(159)	(152)	(141)	(138)	(140)	(142)	(130)	(128)	(128)	(123)	(111)	(118)	(81)	(59)	(49)	(41)	(37)	(29)
Restructuring charges	—)	(1)	—)	(1)	—)	—)	—)	—)	—)	—)	—)	(2)	(84)	(5)	(3)	—)	—)	—)	—)	—)
Income (loss) from operations	147)	258)	163)	155)	117)	107)	(201)	(61)	(89)	(108)	(211)	(171)	(370)	(308)	(273)	(173)	(154)	(100)	(99)	(99)
Interest income, net	42)	71)	49)	49)	51)	54)	49)	45)	51)	40)	34)	27)	17)	9)	5)	1)	1)	—)	—)	2)
Interest expense	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	(1)	—)	(1)	—)	(1)	—)	(1)	(12)
Other income (expense), net	33)	(81)	59)	(6)	8)	(6)	(5)	(2)	(101)	(1)	(4)	(1)	(305)	(2)	(3)	5)	1)	(1)	—)	—)
Income (loss) before income taxes	222)	248)	271)	198)	176)	155)	(157)	(18)	(139)	(69)	(181)	(145)	(659)	(301)	(272)	(167)	(153)	(101)	(100)	(109)
(Provision for) benefit from income taxes	(9)	(5)	13)	(6)	(37)	6)	(1)	(7)	(17)	(6)	9)	(17)	17)	5)	9)	—)	(2)	—)	(2)	(1)
Net income (loss) including redeemable non-controlling interests	213)	243)	284)	192)	139)	161)	(158)	(25)	(156)	(75)	(172)	(162)	(642)	(296)	(263)	(167)	(155)	(101)	(102)	(110)
Net loss attributable to redeemable non-controlling interests	—)	1)	1)	1)	2)	1)	1)	2)	2)	2)	2)	1)	2)	1)	—)	—)	—)	—)	—)	—)
Net income (loss) attributable to DoorDash, Inc. common stockholders	213)	244)	285)	193)	141)	162)	(157)	(23)	(154)	(73)	(170)	(161)	(640)	(295)	(263)	(167)	(155)	(101)	(102)	(110)

Revenue exhibited a consistent upward trajectory throughout the observed period, increasing from $1,077 million in March 2021 to $3,955 million in December 2023, before moderating to $3,284 million and $3,446 million in the subsequent two quarters. This growth suggests increasing market penetration or higher order volumes. However, the rate of revenue growth appears to have slowed in the most recent periods.

The cost of revenue, exclusive of depreciation and amortization, also increased substantially over the period, mirroring the revenue growth. Notably, the cost of revenue has consistently exceeded 50% of revenue, indicating significant operational expenses associated with fulfilling orders. The increase in cost of revenue accelerated in later periods, potentially impacting profitability.

Gross profit demonstrated an overall positive trend, rising from $514 million in March 2021 to $2,020 million in December 2023. However, similar to revenue, the growth rate of gross profit decelerated in the most recent quarters. The gross margin, calculated as gross profit divided by revenue, fluctuated but generally remained relatively stable, ranging between approximately 45% and 50%.

Sales and Marketing Expenses: Sales and marketing expenses remained substantial throughout the period, generally fluctuating between $414 million and $707 million per quarter. While initially decreasing slightly, these expenses increased significantly in the later quarters, potentially reflecting increased competition or efforts to maintain market share. The proportion of revenue allocated to sales and marketing remained consistently high.
Research and Development Expenses: Research and development expenses steadily increased from $82 million in March 2021 to $419 million in December 2023. This suggests a growing commitment to innovation and platform development. The increase in R&D spending as a percentage of revenue indicates a strategic focus on long-term growth initiatives.
General and Administrative Expenses: General and administrative expenses exhibited an increasing trend, with a particularly sharp rise in March 2023 and beyond. This increase could be attributed to scaling operations, increased regulatory compliance costs, or other administrative overhead. The substantial increase in these expenses warrants further investigation.
Operating Income (Loss): The company experienced operating losses for the majority of the observed period. While losses narrowed in 2022 and 2023, with positive operating income achieved in several quarters, the company returned to operating losses in the most recent quarters. This volatility suggests challenges in achieving consistent profitability despite revenue growth.
Net Income (Loss): Net income (loss) followed a similar pattern to operating income (loss), with significant fluctuations. The company reported net losses for most of the period, with a brief period of profitability in 2023. The net loss attributable to DoorDash, Inc. common stockholders mirrored this trend. Other income (expense), net, introduced significant volatility, particularly a large expense in December 2022, impacting overall net income.

Interest income provided a modest positive contribution, while interest expense remained relatively low. The provision for income taxes fluctuated between a benefit and an expense, depending on the overall profitability of the company. Overall, the financial performance demonstrates a company focused on growth, but facing challenges in achieving sustained profitability.

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DoorDash, Inc. (NASDAQ:DASH)

Income Statement Quarterly Data

Income Statement
Quarterly Data