DoorDash Files Q2 2024 10-Q
Ticker: DASH · Form: 10-Q · Filed: Aug 1, 2024 · CIK: 1792789
Sentiment: neutral
Topics: 10-Q, financials, quarterly-report
TL;DR
DoorDash's Q2 2024 10-Q is in! Check financials for the latest.
AI Summary
DoorDash, Inc. filed its 10-Q for the period ending June 30, 2024. The filing details the company's financial performance and position during the second quarter of 2024. Key financial data and operational updates are provided, reflecting the company's ongoing business activities and strategic initiatives.
Why It Matters
This filing provides investors and analysts with the latest official financial data for DoorDash, crucial for understanding the company's performance and making informed investment decisions.
Risk Assessment
Risk Level: medium — 10-Q filings are standard financial reports, but the underlying business of DoorDash operates in a competitive and evolving market, introducing inherent risks.
Key Players & Entities
- DoorDash, Inc. (company) — Filer of the 10-Q
- 20240630 (date) — End of the reporting period
- 20240801 (date) — Filing date
- SAN FRANCISCO (location) — Company's business and mailing address city
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is the quarter ended June 30, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on August 1, 2024.
What is DoorDash's primary business address?
DoorDash's business address is 303 2ND STREET, SOUTH TOWER, 8TH FLOOR, SAN FRANCISCO, CA 94107.
What is the fiscal year end for DoorDash?
DoorDash's fiscal year ends on December 31.
What is the SEC file number for DoorDash?
The SEC file number for DoorDash is 001-39759.
Filing Stats: 4,659 words · 19 min read · ~16 pages · Grade level 20 · Accepted 2024-08-01 16:08:27
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-20240630.htm (10-Q) — 1840KB
- dash-exx311q2fy2410xq.htm (EX-31.1) — 10KB
- dash-exx312q2fy2410xq.htm (EX-31.2) — 10KB
- dash-exx321q2fy2410xq.htm (EX-32.1) — 8KB
- 0001628280-24-034131.txt ( ) — 7610KB
- dash-20240630.xsd (EX-101.SCH) — 40KB
- dash-20240630_cal.xml (EX-101.CAL) — 88KB
- dash-20240630_def.xml (EX-101.DEF) — 191KB
- dash-20240630_lab.xml (EX-101.LAB) — 592KB
- dash-20240630_pre.xml (EX-101.PRE) — 409KB
- dash-20240630_htm.xml (XML) — 1059KB
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 83
Defaults Upon Senior Securities
Item 3. Defaults Upon Senior Securities 83
Mine Safety Disclosures
Item 4. Mine Safety Disclosures 83
Other Information
Item 5. Other Information 83
Exhibits
Item 6. Exhibits 84
Signatures
Signatures 85 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 June 30, 2024 Assets Current assets: Cash and cash equivalents $ 2,656 $ 3,430 Short-term marketable securities 1,422 1,424 Funds held at payment processors 356 396 Accounts receivable, net 533 585 Prepaid expenses and other current assets 630 782 Total current assets 5,597 6,617 Long-term restricted cash 11 12 Long-term marketable securities 583 669 Operating lease right-of-use assets 436 381 Property and equipment, net 712 701 Intangible assets, net 659 586 Goodwill 2,432 2,371 Non-marketable equity securities 46 42 Other assets 363 458 Total assets $ 10,839 $ 11,837 Liabilities, Redeemable Non-controlling Interests and Stockholders' Equity Current liabilities: Accounts payable $ 216 $ 163 Operating lease liabilities 68 64 Accrued expenses and other current liabilities 3,126 3,801 Total current liabilities 3,410 4,028 Operating lease liabilities 454 470 Other liabilities 162 167 Total liabilities 4,026 4,665 Commitments and contingencies (Note 7) Redeemable non-controlling interests 7 10 Stockholders' equity: Common stock, $ 0.00001 par value, 6,000,000 Class A shares authorized as of December 31, 2023 and June 30, 2024, 375,987 and 386,173 Class A shares issued and outstanding as of December 31, 2023 and June 30, 2024, respectively; 200,000 Class B shares authorized as of December 31, 2023 and June 30, 2024, 27,241 and 26,967 Class B shares issued and outstanding as of December 31, 2023 and June 30, 2024, respectively; 2,000,000 Class C shares authorized as of December 31, 2023 and June 30, 2024, zero Class C shares issued and outstanding as of December 31, 2023 and June 30, 2024 — — Additional paid-in capital 11,887 12,523 Accumulated other comprehensive income (loss) 73 ( 25 ) Accumulated deficit ( 5,154 ) ( 5,336 ) Total