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:	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	3,284)	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	(1,616)	(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	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	(607)	(586)	(541)	(483)	(509)	(504)	(460)	(449)	(471)	(496)	(429)	(418)	(421)	(414)	(413)	(446)	(427)	(333)
Research and development	(351)	(306)	(297)	(289)	(303)	(279)	(253)	(250)	(269)	(231)	(250)	(226)	(205)	(148)	(133)	(115)	(100)	(82)
General and administrative	(388)	(332)	(324)	(315)	(494)	(319)	(320)	(289)	(341)	(285)	(300)	(311)	(291)	(245)	(224)	(188)	(216)	(169)
Depreciation and amortization	(159)	(152)	(141)	(138)	(140)	(142)	(130)	(128)	(128)	(123)	(111)	(118)	(81)	(59)	(49)	(41)	(37)	(29)
Restructuring charges	—)	(1)	—)	—)	—)	—)	—)	—)	—)	(2)	(84)	(5)	(3)	—)	—)	—)	—)	—)
Income (loss) from operations	163)	155)	117)	107)	(201)	(61)	(89)	(108)	(211)	(171)	(370)	(308)	(273)	(173)	(154)	(100)	(99)	(99)
Interest income, net	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	59)	(6)	8)	(6)	(5)	(2)	(101)	(1)	(4)	(1)	(305)	(2)	(3)	5)	1)	(1)	—)	—)
Income (loss) before income taxes	271)	198)	176)	155)	(157)	(18)	(139)	(69)	(181)	(145)	(659)	(301)	(272)	(167)	(153)	(101)	(100)	(109)
(Provision for) benefit from income taxes	13)	(6)	(37)	6)	(1)	(7)	(17)	(6)	9)	(17)	17)	5)	9)	—)	(2)	—)	(2)	(1)
Net income (loss) including redeemable non-controlling interests	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)	2)	1)	1)	2)	2)	2)	2)	1)	2)	1)	—)	—)	—)	—)	—)	—)
Net income (loss) attributable to DoorDash, Inc. common stockholders	285)	193)	141)	162)	(157)	(23)	(154)	(73)	(170)	(161)	(640)	(295)	(263)	(167)	(155)	(101)	(102)	(110)

The financial data over the presented periods reflect a consistent upward trajectory in revenue, with the company increasing quarterly revenues substantially from US$1,077 million in the first quarter of 2021 to US$3,284 million by the second quarter of 2025. This marks a near threefold growth, demonstrating strong top-line expansion over the analyzed timeframe.

Cost of revenue, exclusive of depreciation and amortization, has also increased correspondingly from US$563 million to US$1,616 million. Despite this rise in costs, gross profit has grown steadily from US$514 million to US$1,668 million, showing effective management of margins as gross profit growth rate outpaces cost escalation.

Operating expenses, consisting of sales and marketing, research and development, and general and administrative costs, reveal varied trends. Sales and marketing expenses fluctuate but generally rise, peaking at US$607 million in the second quarter of 2025, up from US$333 million in early 2021. Research and development expenses demonstrate a clear and consistent upward trend from US$82 million to US$351 million, indicative of increasing investment in innovation. General and administrative expenses show more volatility, with a sharp spike to US$494 million in the second quarter of 2024 before settling around US$388 million by mid-2025.

Depreciation and amortization expense steadily increase from US$29 million to US$159 million, reflecting growing capital investment and asset base over the periods analyzed. Restructuring charges are sporadic and mainly appear in late 2021 and early 2023, with relatively minor amounts except for a notable charge of US$84 million at the end of 2021.

The income (loss) from operations is negative for most of the period, showing operational challenges in profitability. However, there is a marked improvement towards profitability starting in late 2024, turning positive and reaching US$163 million in the second quarter of 2025. This inflection suggests enhanced operational efficiency and possibly scale benefits.

Interest income shows a steady increase from US$2 million to US$49 million, indicating higher returns on investments or cash balances. Interest expense remains minimal and sporadic, suggesting limited reliance on debt financing. The other income (expense), net line experiences significant fluctuations, notably a large expense of US$305 million at the end of 2022 and smaller gains or losses in other periods, which impacts overall earnings unpredictably.

Income (loss) before taxes parallels operating income trends but with heightened volatility influenced by non-operating items. Positive earnings before taxes are recorded starting in 2025, aligning with operational profitability. Provision for income taxes alternates between benefits and expenses, reflecting the varying profitability and possibly tax planning effects.

Net income including redeemable non-controlling interests follows a pattern similar to operating and pre-tax income, exhibiting losses through most periods but turning positive in early 2025. This transition to net profitability is confirmed by the net income attributable to common stockholders, which moves from significant losses exceeding US$100 million per quarter initially to profits above US$280 million by mid-2025.

Overall, the company exhibits strong revenue growth accompanied by rising costs. While operational results have been mostly negative for a prolonged period, the trend toward profitability in 2024 and 2025 is a notable positive development. Increased spending on research and development and marketing suggests a strategic focus on growth and innovation. Financial income augmentation and controlled debt impact support the improving bottom-line position.

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DoorDash, Inc. (NASDAQ:DASH)

Income StatementQuarterly Data

Income Statement
Quarterly Data