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DoorDash (DASH) Q1 FY2026 earnings: revenue $4.0 billion, up 33.1% on the year

DoorDash, Inc. (DASH) reported revenue of $4.0 billion for Q1 FY2026, the quarter ended 31 March 2026, up 33.1% on the same quarter a year earlier. Net income was $184 million, down 4.7% on the year, and diluted earnings per share $0.42. The figures are the company's own, from the 10-Q it filed with the SEC on 6 May 2026.

Revenue
$4.0 billion
+33.1% on the year · +2.0% on the quarter
Q2 FY2024Q1 FY2026
Operating margin
3.7%
5.1% a year earlier
Q2 FY2024Q1 FY2026
Net income
$184 million
-4.7% on the year · -13.6% on the quarter
Q2 FY2024Q1 FY2026
Diluted EPS
$0.42
-4.5% on the year · -12.5% on the quarter
Q2 FY2024Q1 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 1 kept.

  • Orders, GOV and revenue all grew: Total Orders rose 27% year-over-year to 933 million, Marketplace GOV rose 37% to $31.6 billion, and revenue rose 33% to $4.0 billion. Excluding Deliveroo, GOV rose 24% and revenue 21%.
  • Net income fell while Adjusted EBITDA rose: GAAP net income attributable to DoorDash common stockholders fell 5% to $184 million. Adjusted EBITDA rose 28% to $754 million, but was down 3% from the fourth quarter's $780 million.
  • US restaurant GOV growth slowed from Q4: U.S. restaurant Marketplace GOV growth was above the Q1 2025 pace and slightly above the 16-quarter average, but below the Q4 2025 pace. New-consumer and mature-cohort order-rate growth continued.
Read the earnings call summary

Income statement (profit and loss)

$ millionQ1 FY2026Q4 FY2025Q1 FY2025On the quarterOn the yearLast 8 quarters
Revenue4,0363,9553,032+2.0%+33.1%
Cost of revenue1,9921,9351,500+2.9%+32.8%
Gross profit2,0442,0201,532+1.2%+33.4%
Gross margin50.6%51.1%50.5%
Research and development398419306-5.0%+30.1%
Operating income151147155+2.7%-2.6%
Operating margin3.7%3.7%5.1%
Pre-tax income191222198-14.0%-3.5%
Income tax8.09.06.0-11.1%+33.3%
Effective tax rate4.2%4.1%3.0%
Net income184213193-13.6%-4.7%
Net margin4.6%5.4%6.4%
Diluted EPS$0.42$0.48$0.44-12.5%-4.5%
$ million except per share.
Read moreFourth quarters are the year less the first three quarters. 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

$ millionQ1 FY2026Q4 FY2025Q1 FY2025On the quarterOn the yearLast 8 quarters
Operating cash flow594421635+41.1%-6.5%
Capital expenditure57.054.074.0+5.6%-23.0%
Free cash flow537367561+46.3%-4.3%
Free cash flow margin13.3%9.3%18.5%
Cash from investing-98.0-3,117-160
Cash from financing-173-19.03.0
Depreciation and amortisation269267152+0.7%+77.0%
Share-based compensation231276235-16.3%-1.7%
Buybacks1620.00.0
Diluted shares, weighted442m443m436m-0.1%+1.6%
Shares outstanding at period end436m434m424m+0.3%+2.8%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ millionQ1 FY2026Q4 FY2025Q1 FY2025On the quarterOn the yearLast 8 quarters
Shareholders' equity10,19810,0338,389+1.6%+21.6%
Redeemable equity12.013.06.0-7.7%+100.0%
Debt2,7252,7240.0+0.0%
Operating lease liabilities457461457-0.9%0.0%
Other liabilities6,3196,4284,720-1.7%+33.9%
Total liabilities and equity19,71119,65913,572+0.3%+45.2%
Goodwill5,4995,5192,412-0.4%+128.0%
Intangible assets2,1182,260504-6.3%+320.2%
Investments1,8071,9652,159-8.0%-16.3%
Cash and equivalents4,5754,3784,500+4.5%+1.7%
Receivables1,0341,108782-6.7%+32.2%
Other assets4,6784,4293,215+5.6%+45.5%
Total assets19,71119,65913,572+0.3%+45.2%

Questions

What was DoorDash's revenue in Q1 FY2026?

DoorDash (DASH) reported revenue of $4.0 billion for Q1 FY2026, the quarter ended 31 March 2026, up 33.1% on the same quarter a year earlier.

How much did DoorDash earn in Q1 FY2026?

Net income for Q1 FY2026 was $184 million, down 4.7% on the year, and diluted earnings per share $0.42.

When did DoorDash report Q1 FY2026 results?

DoorDash filed its 10-Q for the quarter ended 31 March 2026 with the SEC on 6 May 2026.

Quarterly results, the last 20 quarters

Q4 FY2021 *Q1 FY2022Q2 FY2022Q3 FY2022Q4 FY2022 *Q1 FY2023 †Q2 FY2023Q3 FY2023Q4 FY2023 *Q1 FY2024 †Q2 FY2024Q3 FY2024Q4 FY2024 * †Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026Q3 FY2026
Revenue1,3001,4561,6081,7011,8182,0352,1332,1642,3032,5132,6302,7062,8733,0323,2843,4463,9554,0364,4544,616
Cost of revenue6357638809311,0141,0691,1351,1561,2291,3301,3851,3741,4531,5001,6161,6871,9351,9922,1072,171
Gross profit6656937287708049669981,0081,0741,1831,2451,3321,4201,5321,6681,7592,0202,0442,3472,445
Gross margin51%48%45%45%44%47%47%47%47%47%47%49%49%51%51%51%51%51%53%53%
R&D133148205226250231269250253279303289297306351355419398535499
Operating income-154-173-273-308-370-171-211-108-89.0-61.0-201107117155163258147151156442
Operating margin-12%-12%-17%-18%-20%-8%-10%-5%-4%-2%-8%4%4%5%5%7%4%4%4%10%
Interest expense1.00.01.00.01.01.0n/an/an/an/an/an/an/an/an/an/an/an/an/an/a
Pre-tax income-153-167-272-301-659-145-181-69.0-139-18.0-157155176198271248222191207484
Tax raten/an/an/an/an/an/an/an/an/an/an/a-4%21%3%-5%2%4%4%4%4%
Net income-155-167-263-295-640-161-170-73.0-154-23.0-157162141193285244213184200466
Net margin-12%-11%-16%-17%-35%-8%-8%-3%-7%-1%-6%6%5%6%9%7%5%5%4%10%
Diluted EPS-$0.45-$0.48-$0.72-$0.77-$1.65-$0.41-$0.44-$0.19-$0.39-$0.06-$0.38$0.38$0.33$0.44$0.65$0.55$0.48$0.42$0.46$1.06
Operating cash flow167-20.016519923.0397393398485553530531518635504871421594944994
Capital expenditure35.032.045.054.045.039.027.028.029.017.023.032.032.074.066.063.054.057.061.090.0
Free cash flow132-52.0120145-22.0358366370456536507499486561438808367537883904
Buybacksn/a0.00.04000.03923016.051.00.07.02170.00.00.00.00.01628870.0
Shares outstandingn/an/an/an/an/an/an/an/an/an/an/an/an/a424m427m431m434m436m433m436m
Filing10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS 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 the share count are as they are. 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. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 31 March 2026, filed 6 May 2026: the filing.