DoorDash’s inventory slipped greater than 17% on Nov. 6, extending pre-market losses of about 20%, as traders reacted to the corporate’s plans reported in its Q3 2025 earnings report, launched after market shut on November 5.
Here’s a fast take a look at DoorDash Q3 earnings:
- Income reported at $3.4 billion, representing a 21% year-over-year improve.
- The Market GOV (Gross Order Worth) elevated to $25.0 billion, up 25% YoY.
- GAAP Web Revenue elevated 51% YoY to $244 million.
- Whole orders elevated 21% YoY to 776 million.
DoorDash’s Q3 efficiency confirmed progress, however the inventory tumbled over administration’s announcement of aggressive funding plans for 2026.
The volatility led to a quarterly inventory decline of twenty-two% for DoorDash, which didn’t influence its 19% year-to-date achieve. The inventory was already buying and selling up after hours on Nov. 6.
DoorDash’s inventory is up 19% 12 months up to now.
Beata Zawrzel/NurPhoto by way of Getty
DoorDash exhibits wholesome progress
Firm income, which jumped 27% to $3.4 billion, was primarily pushed by accelerating progress in orders and gross order worth. Its adjusted EBITDA of $754, up 41%, beat expectations; nonetheless, margins expanded solely barely.
The U.S restaurant class achieved its quickest progress fee in additional than three years, buoyed by sustained reinvestment in buyer expertise.
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“This approach is foundational to how we operate and, more than 10 years after launching our U.S. restaurant category, it continues to generate benefits for our stakeholders and drive profit growth for our business,” learn the corporate assertion.
Internationally, DoorDash’s working attain has reached record-high unit economics, with the corporate finishing its €2.8 billion acquisition of Deliveroo, a UK-based meals supply firm.
Optimistic over the acquisition to extend income, the corporate acknowledged,
The corporate additionally launched Dashmart Success Providers for “higher-quality consumer experiences,” which is at the moment working at a loss however has proven enchancment quarter over quarter.
And extra not too long ago, on September 30, DoorDash launched its personalized autonomous supply robotic, Dot, for native supply.
Nonetheless, what’s getting investor and analyst consideration is DoorDash’s announcement to spice up funding by “several hundred million dollars” in 2026, which overshadowed its upbeat outcomes.
Analyst reactions to DoorDash Q3 earnings
Following the discharge, a number of analysts lowered their value goal for the supply firm, however remained bullish on its future progress.
Oppenheimer analyst Jason Helfstein lowered the agency’s goal to $280 from $350, sustaining an outperform score. He cited dramatically excessive investments in 2026 as a driver, additionally noting that previously, DoorDash has exceeded margins dramatically.
Deepak Mathivanan of Cantor Fitzgerald lowered the worth goal to $270 from $330, sustaining an obese score, citing the “several hundreds of millions” in tech and product initiatives that can weigh on the near-term margin trajectory.
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JPMorgan cited related components, together with incremental investments that might carry near-term margin stress, because it lowered its value goal from $325 to $300 whereas sustaining an obese score, TheFly famous.
Goldman Sachs referred to as out DoorDash’s regular execution of its native technique in Q3, however lowered its value goal to $279 from $315, whereas sustaining a purchase score. Sachs famous that rising consumer engagement, stronger platform economics, and accelerating momentum in grocery and retail have been key positives.
However this didn’t undermine administration’s plan for a unified international know-how platform and long-term funding to help revenue progress, as reported by TheFly.
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