DoorDash Reports Q1 EPS Miss, Better Than Expected Revenues

DoorDash, Inc. (NYSE:DASH) reported its Q1 results, with revenue of $1.46 billion coming in better than the consensus estimate of $1.37 billion, while EPS of ($0.48) missing the consensus estimate of ($0.41).

US restaurant marketplace orders grew over 250% from Q1/20 to Q1/22. The number of orders during the quarter was 404 million, up 23% year-over-year.

Economies of scale are showing through lower Dasher costs quarter-over-quarter and year-over-year. The company anticipates more efficient capital redeployment at Wolt post-acquisition (expected to close in Q2/22), keeping the EBITDA outlook unchanged.

The company expects Q2 adjusted EBITDA of $0-$100 million, compared to the consensus estimate of $82.5 million, and marketplace gross order value of $12.1-$12.5 billion, compared to the consensus estimates of $12.11 billion.

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