DoorDash (DASH) FY2024 results: revenue $10.7 billion, up 24.2% on the year

DoorDash, Inc. (DASH) reported revenue of $10.7 billion for fiscal 2024, the year ended 31 December 2024, up 24.2% on the year before. Net income was $123 million, and diluted earnings per share $0.29. The figures are the company's own, from the 10-K it filed with the SEC on 14 February 2025.

Revenue

$10.7 billion

+24.2% on the year

FY2018FY2024

Operating margin

-0.4%

-6.7% a year earlier

FY2018FY2024

Net income

$123 million

FY2018FY2024

Diluted EPS

$0.29

FY2018FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ million	FY2024	FY2023	FY2022	On the year
Revenue	10,722	8,635	6,583	+24.2%
Cost of revenue	5,542	4,589	3,588	+20.8%
Gross profit	5,180	4,046	2,995	+28.0%
Gross margin	48.3%	46.9%	45.5%
Research and development	1,168	1,003	829	+16.5%
Operating income	-38.0	-579	-1,124
Operating margin	-0.4%	-6.7%	-17.1%
Interest expense	n/a	n/a	2.0
Pre-tax income	156	-534	-1,399
Income tax	39.0	31.0	-31.0	+25.8%
Effective tax rate	25.0%	n/a	n/a
Net income	123	-558	-1,365
Net margin	1.1%	-6.5%	-20.7%
Diluted EPS	$0.29	-$1.42	-$3.68

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	FY2024	FY2023	FY2022	On the year
Operating cash flow	2,132	1,673	367	+27.4%
Capital expenditure	104	123	176	-15.4%
Free cash flow	2,028	1,550	191	+30.8%
Free cash flow margin	18.9%	18.0%	2.9%
Cash from investing	-444	-342	-300
Cash from financing	-204	-752	-375
Depreciation and amortisation	561	509	369	+10.2%
Share-based compensation	1,099	1,088	889	+1.0%
Buybacks	224	750	400	-70.1%
Diluted shares, weighted	430m	393m	371m	+9.5%

Balance sheet

$ million	FY2024	FY2023	FY2022	On the year
Shareholders' equity	7,803	6,806	6,754	+14.6%
Redeemable equity	7.0	7.0	14.0	0.0%
Debt	0.0	0.0	0.0
Operating lease liabilities	468	454	456	+3.1%
Other liabilities	4,567	3,572	2,565	+27.9%
Total liabilities and equity	12,845	10,839	9,789	+18.5%
Goodwill	2,315	2,432	2,370	-4.8%
Intangible assets	510	659	765	-22.6%
Investments	2,157	2,005	1,941	+7.6%
Cash and equivalents	4,019	2,656	1,977	+51.3%
Receivables	732	533	400	+37.3%
Other assets	3,112	2,554	2,336	+21.8%
Total assets	12,845	10,839	9,789	+18.5%

10-K for the year ended 31 December 2024, filed 14 February 2025: the filing.