DoorDash, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>DoorDash, Inc. has filed its 2023 annual report (10-K) detailing its financial performance and business operations for the fiscal year ending December 31, 2023.</b>

AI Summary

DoorDash, Inc. (DASH) filed a Annual Report (10-K) with the SEC on February 20, 2024. DoorDash, Inc. filed its 2023 Form 10-K on February 20, 2024. The filing covers the fiscal year ending December 31, 2023. The company's principal executive offices are located at 303 2ND STREET, SOUTH TOWER, 8TH FLOOR, SAN FRANCISCO, CA 94107. DoorDash, Inc. is incorporated in Delaware. The filing includes financial data for the fiscal years 2020, 2021, 2022, and 2023.

Why It Matters

For investors and stakeholders tracking DoorDash, Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of DoorDash's financial health, operational performance, and strategic initiatives for the past fiscal year, which is crucial for investors to assess the company's current standing and future prospects. The detailed financial statements and risk factors within the report offer insights into the company's revenue streams, profitability, debt levels, and potential challenges, enabling stakeholders to make informed investment decisions.

Risk Assessment

Risk Level: medium — DoorDash, Inc. shows moderate risk based on this filing. The company operates in a highly competitive and rapidly evolving market, facing significant challenges in customer acquisition, retention, and profitability, as detailed in the risk factors section of the 10-K.

Analyst Insight

Investors should carefully review DoorDash's 2023 10-K for detailed financial performance, competitive landscape analysis, and forward-looking statements to assess investment viability.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reporting period)
• 2024-02-20 — Filing Date (Date of submission)
• 122 — Public Document Count (Number of documents in the filing)
• 7389 — Standard Industrial Classification (Industry classification code)

Key Players & Entities

• DoorDash, Inc. (company) — Filer name
• 2024-02-20 (date) — Filing date
• 2023-12-31 (date) — Fiscal year end
• 303 2ND STREET, SOUTH TOWER, 8TH FLOOR, SAN FRANCISCO, CA 94107 (address) — Business address
• DE (state) — State of incorporation
• 7389 (sic_code) — Standard Industrial Classification
• 001-39759 (sec_file_number) — SEC file number
• USD (currency) — Currency used in financial statements

FAQ

Industry Context

DoorDash operates in the food delivery and logistics industry, a sector characterized by intense competition, evolving consumer preferences, and significant technological advancements.

Regulatory Implications

As a publicly traded company, DoorDash is subject to the regulations of the U.S. Securities and Exchange Commission (SEC), requiring regular filings such as this 10-K to ensure transparency and provide material information to investors.

What Investors Should Do

1. Review DoorDash's detailed financial statements for the fiscal year 2023.
2. Analyze the risk factors section to understand potential challenges and competitive pressures.
3. Examine any forward-looking statements or management discussion and analysis for insights into future strategy and outlook.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K.
• 2024-02-20: Filing Date — Date DoorDash, Inc. submitted its 10-K filing.

Year-Over-Year Comparison

This is the initial 10-K filing for the fiscal year 2023, following previous filings for prior years.

Key Financial Figures

• $0.00001 — red Class A common stock, par value of $0.00001 per share DASH The Nasdaq Stock Market
• $15 billion — ople dashed 3 , earning a total of over $15 billion. We believe access and choice are empo

Filing Documents

• dash-20231231.htm (10-K) — 2323KB
• dash-exx43fy2310xk.htm (EX-4.3) — 55KB
• dash-ex102fy2310xk.htm (EX-10.2) — 397KB
• dash-ex104fy2310xk.htm (EX-10.4) — 295KB
• dash-ex1018fy2310xk.htm (EX-10.18) — 1517KB
• dash-exx211fy2310xk.htm (EX-21.1) — 4KB
• dash-exx231fy2310xk.htm (EX-23.1) — 2KB
• dash-exx311fy2310xk.htm (EX-31.1) — 10KB
• dash-exx312fy2310xk.htm (EX-31.2) — 10KB
• dash-exx321fy2310xk.htm (EX-32.1) — 8KB
• dash-exx971fy2310xk.htm (EX-97.1) — 38KB
• dash-20231231_g1.jpg (GRAPHIC) — 84KB
• image_0.jpg (GRAPHIC) — 0KB
• image_1.jpg (GRAPHIC) — 0KB
• 0001628280-24-005600.txt (&nbsp;) — 14362KB
• dash-20231231.xsd (EX-101.SCH) — 72KB
• dash-20231231_cal.xml (EX-101.CAL) — 124KB
• dash-20231231_def.xml (EX-101.DEF) — 380KB
• dash-20231231_lab.xml (EX-101.LAB) — 992KB
• dash-20231231_pre.xml (EX-101.PRE) — 681KB
• dash-20231231_htm.xml (XML) — 1680KB

Risk Factors

Item 1A. Risk Factors 10

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 51

Cybersecurity

Item 1C. Cybersecurity 51

Properties

Item 2. Properties 53

Legal Proceedings

Item 3. Legal Proceedings 53

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 55 Part II 56

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 56

[Reserved]

Item 6. [Reserved] 57

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 57

Quantitative and Qualitative Disclosures About Market Risk

Item 7A. Quantitative and Qualitative Disclosures About Market Risk 72

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data 74

Changes in and Disagreements With Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 110

Controls and Procedures

Item 9A. Controls and Procedures 110

Other Information

Item 9B. Other Information 111

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 111 Part III 112

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance 112

Executive Compensation

Item 11. Executive Compensation 112

Security Ownership of Certain Beneficial Owner and Management and Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owner and Management and Related Stockholder Matters 112

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence 112

Principal Accountant Fees and Services

Item 14. Principal Accountant Fees and Services 112 Part IV 113

Exhibits and Financial Statement Schedules

Item 15. Exhibits and Financial Statement Schedules 113

Form 10-K Summary

Item 16. Form 10-K Summary 114

Signatures

Signatures 115 3 Table of Contents SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K contains forward-looking statements within the meaning of the federal securities laws, which statements involve substantial risks and uncertainties. Forward-looking statements generally relate to future events or our future financial or operating performance. In some cases, you can identify forward-looking statements because they contain words such as "may," "will," "should," "expect," "plan," "anticipate," "could," "would," "intend," "target," "project," "contemplate," "believe," "estimate," "predict," "potential," or "continue" or the negative of these words or other similar terms or expressions that concern our expectations, strategy, plans, or intentions. Forward-looking statements contained in this Annual Report on Form 10-K include, but are not limited to, statements about: our future financial performance, including our expectations regarding our revenue, cost of revenue, operating expenses, financial and operational metrics, our ability to determine reserves, and our ability to achieve, maintain, or increase long-term future profitability; our business and growth strategy and plans, including our ability to successfully execute on such strategy and plans; the sufficiency of our cash, cash equivalents, and marketable securities to meet our liquidity needs; the demand for our platform or for local commerce platforms in general; our ability to attract and retain merchants, consumers, and Dashers; our ability to effectively manage costs related to Dashers; our ability to develop new offerings, services, and features, and bring them to market in a timely and cost-effective manner and make enhancements to our platform; our ability to compete with existing and new competitors in existing and new markets and offerings; our expectations regarding outstanding litigation and legal and regulatory matters; our expectations regarding the e

Business

Item 1. Business OUR BUSINESS Our mission is to grow and empower local economies. We aim to achieve this by providing logistics, technology, and other services that reduce friction in local commerce and enable local businesses to address consumers' expectations of ease, immediacy, quality, and affordability. Our primary offerings include the DoorDash Marketplace and the Wolt Marketplace (our "Marketplaces"), which operate in over 25 countries including the United States, and Platform Services. We built our Marketplaces to serve the needs of three key constituents: merchants, consumers, and the independent contractors who use our platform to generate earnings, or "Dashers 1 ." Our Marketplaces enable merchants to establish an online presence and expand their reach by connecting them with millions of consumers. As part of our Marketplaces, we offer merchants a broad array of services that enable them to solve mission-critical challenges such as customer acquisition and demand generation, order fulfillment, merchandising, payment processing, and customer support. We also enable merchants to advertise and promote on our platform in order to acquire new consumers and drive incremental sales. Merchants can fulfill the demand generated on our Marketplaces through delivery, generally facilitated by our local commerce platform, or in-person pickup by consumers. Our Marketplaces provide a platform for over 37 million monthly active users 2 to discover, engage with, and purchase goods from merchants in their community. Our aim is to consistently improve our consumer value proposition by increasing the quantity and variety of merchants that are available on our Marketplaces, while also improving the level of convenience, quality, service, and affordability we provide. Our Marketplaces also offer our membership programs, DashPass and Wolt+, which aim to improve affordability and lower transactional friction by reducing the delivery and service fees we charge consumers. As of

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View this 10-K filing on SEC EDGAR