DoorDash Q4 Revenue Up 37.7% to $3.96B, Q1 EBITDA Guidance $725M
DoorDash delivered Q4 revenue of $3.96B, up 37.7% year-on-year but 1.1% short of analyst forecasts, while adjusted EPS of $1.27 missed by 1.4%. The company set Q1 EBITDA guidance at $725M, below the $800M consensus, as it allocates spending to global tech integration, autonomous delivery and non-restaurant category expansion.
1. Q4 Financial Results
DoorDash posted Q4 revenue of $3.96B, up 37.7% year-on-year, missing the $4.00B estimate by 1.1%. Adjusted EPS came in at $1.27 (1.4% below consensus) and adjusted EBITDA reached $780M, slightly above the $773.6M forecast, with total orders rising to 903M, a 31.9% increase.
2. Expansion of Non-Restaurant Verticals
Approximately 30% of monthly active users now place orders outside the restaurant category, driven by growth in grocery and retail services. Recent acquisitions of European delivery platforms have accelerated international expansion, while DashPass subscriptions and the advertising business have recorded record engagement and advertiser count.
3. Outlook and Strategic Investments
The company guided Q1 adjusted EBITDA at $725M, below the $800.4M analyst consensus, reflecting higher spending on unifying its global technology stack, autonomous delivery pilots and enhanced merchant services. Management expects tech platform consolidation to eliminate redundancies by 2027, driving improved margins and long-term free cash flow.