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DoorDash Inc. (DASH) has submitted its annual report on Form 10-K filing for the fiscal year ended December 31, 2024.
The filing details DoorDash's financial performance, including a 24% increase in revenue to $10.7 billion, driven by a 20% rise in Marketplace GOV to $80.2 billion. The company reported a net income of $123 million, a significant turnaround from a net loss of $558 million in the previous year.
DoorDash's Marketplaces, including DoorDash Marketplace and Wolt Marketplace, operate in over 30 countries and contributed to the majority of the company's revenue. The company also offers a Commerce Platform that includes white-label delivery services.
The report highlights an increase in Total Orders to 2.6 billion, a 20% growth compared to the previous year. The company's advertising revenue also contributed to the increased revenue growth.
DoorDash's cost of revenue, excluding depreciation and amortization, rose by 21% to $5.5 billion, primarily due to higher order management and platform costs.
Operating expenses, including sales and marketing, research and development, and general and administrative expenses, increased, but the company managed to improve its operating margin.
The company continues to face risks related to competition, regulatory challenges, and the classification of Dashers as independent contractors. These factors could impact future financial performance.
DoorDash's cash, cash equivalents, and marketable securities totaled $6.2 billion at the end of 2024, providing a strong liquidity position to support future growth initiatives.
The filing also discusses the company's focus on expanding its international operations and enhancing its platform to improve user experience and operational efficiency.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the DoorDash Inc. annual 10-K report dated February 14, 2025. To report an error, please email earnings@qz.com.