DoorDash, Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>DoorDash, Inc. has filed its Q1 2024 10-Q report detailing its financial performance and operational status.</b>

AI Summary

DoorDash, Inc. (DASH) filed a Quarterly Report (10-Q) with the SEC on May 1, 2024. DoorDash, Inc. filed its quarterly report (10-Q) for the period ending March 31, 2024. The filing covers the first quarter of fiscal year 2024. The company's principal executive offices are located in San Francisco, CA. DoorDash, Inc. is incorporated in Delaware. The filing was submitted on May 1, 2024.

Why It Matters

For investors and stakeholders tracking DoorDash, Inc., this filing contains several important signals. This 10-Q filing provides investors with the latest financial data and operational insights for DoorDash, Inc. for the first quarter of 2024. Understanding the details within this report is crucial for assessing the company's current financial health, growth trajectory, and potential risks moving forward.

Risk Assessment

Risk Level: low — DoorDash, Inc. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate, significant new risks or disclosures beyond routine updates.

Analyst Insight

Review the detailed financial statements and management discussion within the 10-Q to understand DoorDash's performance in Q1 2024 and identify any emerging trends or risks.

Key Players & Entities

• DoorDash, Inc. (company) — Filer name
• 2024-03-31 (date) — Conformed period of report
• 2024-05-01 (date) — Filed as of date
• San Francisco, CA (location) — Business address city and state
• DE (location) — State of incorporation

FAQ

Industry Context

DoorDash operates in the food delivery and logistics sector, a highly competitive and rapidly evolving market.

Regulatory Implications

The filing is a standard 10-Q, adhering to SEC regulations for quarterly financial reporting by public companies.

What Investors Should Do

1. Analyze DoorDash's revenue and profitability trends from the Q1 2024 10-Q.
2. Assess any new strategic initiatives or market expansions mentioned in the filing.
3. Evaluate the company's cash flow and debt levels as presented in the report.

Year-Over-Year Comparison

This is the initial 10-Q filing for the fiscal quarter ending March 31, 2024, following the previous period's filings.

Key Financial Figures

• $0.00001 — red Class A common stock, par value of $0.00001 per share DASH The Nasdaq Stock Market

Filing Documents

• dash-20240331.htm (10-Q) — 1597KB
• dash-exx101q1fy2410xq.htm (EX-10.1) — 41KB
• dash-exx311q1fy2410xq.htm (EX-31.1) — 10KB
• dash-exx312q1fy2410xq.htm (EX-31.2) — 10KB
• dash-exx321q1fy2410xq.htm (EX-32.1) — 8KB
• 0001628280-24-019605.txt (&nbsp;) — 7076KB
• dash-20240331.xsd (EX-101.SCH) — 40KB
• dash-20240331_cal.xml (EX-101.CAL) — 87KB
• dash-20240331_def.xml (EX-101.DEF) — 193KB
• dash-20240331_lab.xml (EX-101.LAB) — 573KB
• dash-20240331_pre.xml (EX-101.PRE) — 400KB
• dash-20240331_htm.xml (XML) — 962KB

FINANCIAL INFORMATION

Part I FINANCIAL INFORMATION 5

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited) 5 Condensed Consolidated Balance Sheets 5 Condensed Consolidated Statements of Operations 6 Condensed Consolidated Statements of Comprehensive Loss 7 Condensed Consolidated Statements of Redeemable Non-Controlling Interests and Stockholders' Equity 8 Condensed Consolidated Statements of Cash Flows 10 Notes to Condensed Consolidated Financial Statements 11

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

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 24

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 37

Controls and Procedures

Item 4. Controls and Procedures 38

OTHER INFORMATION

Part II OTHER INFORMATION 40

Legal Proceedings

Item 1. Legal Proceedings 40

Risk Factors

Item 1A. Risk Factors 42

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 84

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 84

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 84

Other Information

Item 5. Other Information 84

Exhibits

Item 6. Exhibits 86

Signatures

Signatures 87 2 Table of Contents SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q 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 Quarterly Report on Form 10-Q 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

- FINANCIAL INFORMATION

Part I - FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements DOORDASH, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (in millions, except share amounts which are reflected in thousands, and per share data) (Unaudited) December 31, 2023 March 31, 2024 Assets Current assets: Cash and cash equivalents $ 2,656 $ 3,124 Short-term marketable securities 1,422 1,366 Funds held at payment processors 356 394 Accounts receivable, net 533 546 Prepaid expenses and other current assets 630 700 Total current assets 5,597 6,130 Long-term restricted cash 11 12 Long-term marketable securities 583 646 Operating lease right-of-use assets 436 448 Property and equipment, net 712 705 Intangible assets, net 659 621 Goodwill 2,432 2,386 Non-marketable equity securities 46 46 Other assets 363 456 Total assets $ 10,839 $ 11,450 Liabilities, Redeemable Non-controlling Interests and Stockholders' Equity Current liabilities: Accounts payable $ 216 $ 203 Operating lease liabilities 68 64 Accrued expenses and other current liabilities 3,126 3,476 Total current liabilities 3,410 3,743 Operating lease liabilities 454 483 Other liabilities 162 214 Total liabilities 4,026 4,440 Commitments and contingencies (Note 7) Redeemable non-controlling interests 7 11 Stockholders' equity: Common stock, $ 0.00001 par value, 6,000,000 Class A shares authorized as of December 31, 2023 and March 31, 2024, 375,987 and 381,270 Class A shares issued and outstanding as of December 31, 2023 and March 31, 2024, respectively; 200,000 Class B shares authorized as of December 31, 2023 and March 31, 2024, 27,241 and 27,242 Class B shares issued and outstanding as of December 31, 2023 and March 31, 2024, respectively; 2,000,000 Class C shares authorized as of December 31, 2023 and March 31, 2024, zero Class C shares issued and outstanding as of December 31, 2023 and March 31, 2024 — — Additional paid-in capital 11,887 12,177 Accumulated other comprehensive income (loss) 73 ( 1 ) Accumulated deficit ( 5,154 ) ( 5,177 )

View Full Filing

View this 10-Q filing on SEC EDGAR