Name: DoorDash, Inc. (NASDAQ:DASH) | Income Statement (Quarterly)
Creator: Stock Analysis on Net

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., consolidated income statement (quarterly data)

US$ in millions

3 months ended:	Sep 30, 2026	Jun 30, 2026	Mar 31, 2026	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	4,616)	4,454)	4,036)	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	(2,171)	(2,107)	(1,992)	(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	2,445)	2,347)	2,044)	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	(765)	(821)	(746)	(707)	(576)	(607)	(586)	(541)	(483)	(509)	(504)	(460)	(449)	(471)	(496)	(429)	(418)	(421)	(414)	(413)	(446)	(427)	(333)
Research and development	(499)	(535)	(398)	(419)	(355)	(351)	(306)	(297)	(289)	(303)	(279)	(253)	(250)	(269)	(231)	(250)	(226)	(205)	(148)	(133)	(115)	(100)	(82)
General and administrative	(426)	(538)	(432)	(480)	(400)	(388)	(332)	(324)	(315)	(494)	(319)	(320)	(289)	(341)	(285)	(300)	(311)	(291)	(245)	(224)	(188)	(216)	(169)
Depreciation and amortization	(312)	(295)	(269)	(267)	(169)	(159)	(152)	(141)	(138)	(140)	(142)	(130)	(128)	(128)	(123)	(111)	(118)	(81)	(59)	(49)	(41)	(37)	(29)
Restructuring charges	(1)	(2)	(48)	—)	(1)	—)	(1)	—)	—)	—)	—)	—)	—)	—)	(2)	(84)	(5)	(3)	—)	—)	—)	—)	—)
Income (loss) from operations	442)	156)	151)	147)	258)	163)	155)	117)	107)	(201)	(61)	(89)	(108)	(211)	(171)	(370)	(308)	(273)	(173)	(154)	(100)	(99)	(99)
Interest income, net	37)	35)	34)	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	5)	16)	6)	33)	(81)	59)	(6)	8)	(6)	(5)	(2)	(101)	(1)	(4)	(1)	(305)	(2)	(3)	5)	1)	(1)	—)	—)
Income (loss) before income taxes	484)	207)	191)	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	(19)	(8)	(8)	(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	465)	199)	183)	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)	—)	1)	1)	1)	2)	1)	1)	2)	2)	2)	2)	1)	2)	1)	—)	—)	—)	—)	—)	—)
Net income (loss) attributable to DoorDash, Inc. common stockholders	466)	200)	184)	213)	244)	285)	193)	141)	162)	(157)	(23)	(154)	(73)	(170)	(161)	(640)	(295)	(263)	(167)	(155)	(101)	(102)	(110)

Revenue exhibits a consistent and strong upward trajectory, growing from 1,077 million dollars in the first quarter of 2021 to 4,616 million dollars by the third quarter of 2026. This growth is accompanied by a steady expansion in gross profit, which rose from 514 million dollars to 2,445 million dollars over the same period, indicating a progressive improvement in gross margin percentages as the business scaled.

Operating Expense Trends: Sales and marketing expenses grew from 333 million dollars to 765 million dollars, though the rate of increase remained below the rate of revenue growth, suggesting improved marketing efficiency. Research and development expenditures saw a significant increase from 82 million dollars to 499 million dollars, reflecting continued investment in platform capabilities. General and administrative expenses remained relatively volatile but trended upward, ending at 426 million dollars in the final analyzed quarter.
Fixed Cost and Asset Amortization: Depreciation and amortization costs grew substantially from 29 million dollars in March 2021 to 312 million dollars in September 2026, signaling an increase in the company's capitalized asset base or infrastructure investments over time.
Operational Profitability Pivot: The company transitioned from a period of significant operational losses to consistent profitability. Operating losses reached a peak in the fourth quarter of 2022 at 370 million dollars before a steady recovery. A critical inflection point occurred in the third quarter of 2024, when the company recorded its first positive operating income of 107 million dollars, which subsequently accelerated to 442 million dollars by September 2026.
Net Income and Bottom Line Performance: Net losses were pronounced between 2021 and 2023, with a notable dip in the fourth quarter of 2022 reaching 642 million dollars, largely influenced by other net expenses. However, net income turned positive in the third quarter of 2024 at 161 million dollars and showed strong growth, culminating in a net income attributable to common stockholders of 466 million dollars by the third quarter of 2026.
Financial Ancillaries: Interest income showed a steady increase, rising from 2 million dollars to 37 million dollars, indicating a growth in cash reserves and interest-bearing assets. Restructuring charges were sporadic, with the most significant impact occurring in the fourth quarter of 2022.

The overall financial trend is characterized by a successful transition from a high-growth, loss-leading phase to a stage of sustainable operational profitability. The company has successfully leveraged its revenue growth to offset increasing operating expenses, resulting in a sharp improvement in both operating and net margins in the latter half of the analyzed period.

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DoorDash, Inc. (NASDAQ:DASH)

Income StatementQuarterly Data

Income Statement
Quarterly Data