Doordash Inc Stock Price, News & Analysis

DoorDash announces new features for the holiday season, including a redesigned shopping experience that allows users to search for items across merchants with prices and delivery times in one view. The platform introduces grocery list importing from iOS Reminders, recipe integration with Bon Appétit, and enhanced multi-store ordering through DoubleDash.

New gifting features include physical and digital gift cards from hundreds of merchants with 5-10% discounts from 11/29 to 12/20. The company also launches a discounted DashPass plan for SNAP/EBT recipients at $4.99/month. Special holiday promotions include $20 off retail orders of $60+ from 11/29 to 12/5, plus additional deals running from 12/6 to 12/24.

DoorDash Canada launches its seasonal HoliDifferently campaign, offering 30-40% savings during themed weekly promotions from November to January. A recent survey reveals that 30% of Canadians plan to introduce new holiday traditions this year. The campaign features five distinct seasonal periods: Overeager Celebrators (11/11-11/28), 12 Days of Deals (11/29-12/10), Holiday Baking Frenzy (12/11-12/19), Holiday Hermits (12/20-12/29), and New Year Resolution Amnesia (12/30-1/6). Notable findings show that 40% of Canadians might skip holiday functions to stay home, while 40% of survey respondents plan to bake 2-4 desserts this season. DoorDash partnered with Montreal illustrator Gabrielle Laïla Tittley for special holiday cards, with proceeds benefiting Big Brothers Big Sisters of Canada.

DoorDash (NASDAQ: DASH) announced that Chief Financial Officer Ravi Inukonda will participate in a fireside chat at the Nasdaq 51st London Investor Conference. The event is scheduled for Tuesday, December 10th, 2024, at 1:30 pm GMT. Interested parties can access an audio webcast of the discussion through the investor relations section of DoorDash's website at ir.doordash.com.

DoorDash and Lyft have announced a partnership to offer exclusive benefits to DashPass members and Lyft riders, starting October 30. DashPass members will receive 5% off on-demand Lyft rides and 10% off scheduled airport rides (up to 4 per month), as well as 2 free Priority Pickup upgrades per month. New Lyft riders will get a 3-month free DashPass trial. Additionally, linking accounts by December 31, 2024, provides 50% off up to 4 scheduled airport rides and one DoorDash order. DashPass members save $5 per eligible order on average and have saved over $10 billion globally since 2018.

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.