- DoorDash Inc DASH reported first-quarter FY21 revenue growth of 197.5% year-on-year to $1.077 billion, beating the analyst consensus of $993.32 million.
- DoorDash increased the number of partner merchants supported across multiple categories, generated more earnings for more Dashers than in any previous quarter, and served more consumers than it ever had.
- Contribution profit rose 736% Y/Y to $209 million. The margin expanded 1,240 basis points to 19.4%. As a proportion of Marketplace GOV, the margin expanded 130 basis points to 2.1%.
- Total orders rose 219% Y/Y to 329 million. Orders from non-restaurant categories rose by over 40% Q/Q.
- Marketplace GOV rose 222% Y/Y to $9.9 billion.
- Adjusted EBITDA was $43 million compared to ($70 million) loss in the year-ago period. The margin improved from a negative (19.3%) to a positive 4%.
Related content: Benzinga's Full Guidance Calendar
- EPS loss of $(0.34) missed the analyst consensus loss of $(0.26).
- DoorDash generated $166 million in operating cash flow and held $4.5 billion in cash and equivalents.
- Guidance: DASH sees a Q2 Marketplace GOV guidance of $9.4 billion - $9.9 billion, and Adjusted EBITDA guidance of $0 - $100 million.
- It sees an FY21 Marketplace GOV guidance of $35 billion - $38 billion and an Adjusted EBITDA guidance of $0 - $300 million.
- Price action: DASH shares traded higher by 8.23% at $125 in the premarket session on the last check Friday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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