Doordash Inc Stock Price, News & Analysis

DoorDash (NASDAQ: DASH) announced its Q3 2024 financial results, showing significant growth. Total Orders increased by 18% Y/Y to 643 million, and Marketplace GOV rose by 19% Y/Y to $20.0 billion. Revenue was up 25% Y/Y to $2.7 billion, with a Net Revenue Margin increase to 13.5%. DoorDash achieved its first positive GAAP net income of $162 million compared to a loss of $(73) million in Q3 2023. Adjusted EBITDA grew 55% Y/Y to $533 million. The company improved delivery quality, reduced delivery times, and increased marketplace selection. DoorDash continues to expand its services, focusing on new verticals and international markets. The company repurchased $224 million of its Class A common stock and has $876 million remaining under the current authorization. The financial outlook for Q4 2024 anticipates Marketplace GOV of $20.6-$21.0 billion and Adjusted EBITDA of $525-$575 million.

Blackhawk Network (BHN) has partnered with DoorDash to expand gift card offerings in the US and Canada. DoorDash gift cards and eGift options are now available on Giftcards.com and major North American retailers. The partnership includes a SaaS-based B2B gift card program for bulk business purchases. Recent research shows gift card spending is expected to represent 48% of holiday shopping budgets this year, up from 39% in 2023. The partnership aims to make DoorDash gift cards more accessible during peak shopping season while expanding B2B applications.

DoorDash has expanded its partnership with Wegmans Food Markets, Inc., now offering grocery delivery from all Maryland Wegmans locations through the DoorDash platform. The service will soon be available in Virginia, North Carolina, New Jersey, Delaware, and upstate New York, with more stores to follow. This expansion builds on their existing partnership for Wegmans Meals 2GO.

To celebrate, DoorDash is offering customers 40% off eligible orders of $50 or more (up to $25) with promo code WEGMANS at participating Wegmans locations until October 31, 2024. Wegmans stores are also available on DashPass, DoorDash's membership program offering reduced fees on eligible orders.

This partnership aims to bring Wegmans' unique selection of quality foods, including restaurant-quality meals, artisan breads, fresh produce, and international cheeses, to the DoorDash Marketplace, allowing customers to order on-demand for same-day meals or next-day breakfast.

DoorDash (NASDAQ: DASH) has announced that it will release its third quarter 2024 financial results after market close on Wednesday, October 30, 2024. The company will host a conference call to discuss the results at 2 p.m. PT / 5 p.m. ET on the same day. Interested parties can access the live webcast of the call through the DoorDash Investor Relations website at ir.doordash.com.

The earnings press release will be available on the same website, and a replay of the call will be accessible afterward. DoorDash utilizes various channels to disclose material information to the public, including SEC filings, press releases, public conference calls, webcasts, its investor relations website, and company blog, ensuring broad distribution of information and compliance with Regulation FD.

DoorDash (DASH) has released an independent survey titled 'How Online Grocery Delivery with SNAP Broadens Food Access Across the U.S.', highlighting the benefits of grocery delivery for SNAP recipients. Key findings include:

- 78% of SNAP recipients prefer using benefits for grocery delivery over in-store shopping
- 45% face transportation difficulties, 40% have busy work schedules, and 34% have caregiving responsibilities
- 93% say online grocery shopping saves time for other activities
- 61% feel self-conscious using SNAP benefits in-store, with 81% of those saying delivery reduces stigma
- 74% report buying more fruits and vegetables without increasing overall grocery spending

DoorDash also announced the expansion of SNAP/EBT payment capabilities to new merchants nationwide, including Cub, DashMart, Food Maxx, and others. Over 1.8 million consumers have added SNAP/EBT cards to DoorDash since its launch a year ago.

DoorDash Canada's first Community Impact Report reveals significant benefits for merchants, Dashers, and consumers. Key findings include:

- One in 10 local merchants say they wouldn't be in business without DoorDash
- 72% of businesses agree DoorDash improves their overall revenue
- 73% of consumers tried new restaurants through DoorDash, with 90% ordering again
- 97% of Dashers value the flexibility to choose when, where, and how they work
- 93% of consumers agree DoorDash reduces the burden of cooking when short on time

The report highlights DoorDash's role in fostering business growth, building customer loyalty, creating flexible earning opportunities, and making life more convenient for Canadians.

DoorDash (DASH) has unveiled the DoorDash Commerce Platform, a suite of new products designed to help merchants manage and grow their in-store and online businesses. The platform includes five core products: Drive On-Demand, Online Ordering, Phone Ordering, Tableside Order & Pay, and Customer Support Solutions.

Additionally, DoorDash introduced Online Ordering Mobile Apps, allowing restaurants to create their own branded native mobile apps. The company also reimagined its Business Manager App with expanded features to help merchants streamline daily operations and support growth.

These new offerings aim to empower local merchants to succeed in the digital world by providing tools to drive sales, improve operations, and build direct relationships with customers.

DoorDash and Magnolia Bakery have partnered to launch an exclusive new Banana Pudding flavor: Peanut Butter with Chocolate Chunks. This -edition treat is available only through the DoorDash app and not in Magnolia Bakery stores. Customers can order the pudding for on-demand delivery from local DashMarts across the country.

This collaboration marks a significant expansion for Magnolia Bakery, enabling the beloved brand to reach a nationwide audience through DoorDash's platform. The partnership leverages DashMart, DoorDash's fulfillment platform, to offer Magnolia Bakery's iconic desserts for delivery in as little as 30 minutes. This initiative showcases DoorDash's commitment to helping local and national businesses expand their reach and revenue through on-demand local delivery.

Starco Brands (OTCQB:STCB) has announced a collaboration between Whipshots, its vodka-infused whipped cream brand co-founded by Cardi B, and DoorDash to deliver the new -edition Pumpkin Spice Whipshots flavor. From August 22nd to 29th, customers ordering Pumpkin Spice Whipshots via DoorDash will receive a $5 coffee credit, enabling them to create their own Pumpkin Spiked Lattes at home.

Whipshots, containing 10% Alc./Vol, doesn't require refrigeration and aims to bring versatility to the spirits category. The partnership with DoorDash allows for delivery of Whipshots and coffee in as little as 40 minutes, offering consumers a convenient way to enjoy this fall-themed alcoholic treat.