DOORDASH Announces 32.6% Increase in Revenue with USD 2133.0 Million in Q2 FY2023
August 20, 2023
☀️Earnings Overview
On June 30 2023, DOORDASH ($NYSE:DASH) announced their second quarter FY2023 results, with total revenue being USD 2133.0 million, a 32.6% increase from the same quarter in the prior year. However, their reported net income for the quarter was USD -170.0 million, a decrease from the prior year’s -263.0 million.
Analysis
GoodWhale has conducted an analysis of DOORDASH‘s wellbeing, giving it an overall Risk Rating of “Medium.” This rating takes into consideration both the financial and business aspects of the company, and the conclusion is that DOORDASH presents an investment with some risk. In particular, GoodWhale’s analysis focused on potential risks associated with the company’s operations, technological architecture, and financials. By joining GoodWhale and conducting a more in-depth examination of DOORDASH, investors can further evaluate areas where risks may be present. Additionally, GoodWhale can provide additional resources to help investors make informed decisions about their investments. With GoodWhale, potential investors can gain insight into the areas where DOORDASH may present more opportunities or more risks. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Doordash. More…
| Total Revenues | Net Income | Net Margin |
| 7.69k | -1.27k | -15.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Doordash. More…
| Operations | Investing | Financing |
| 1.01k | -525 | -1.08k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Doordash. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 9.6k | 3.19k | 16.29 |
Key Ratios Snapshot
Some of the financial key ratios for Doordash are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 95.2% | – | -17.4% |
| FCF Margin | ROE | ROA |
| 8.5% | -12.9% | -8.7% |
Peers
There is intense competition between DoorDash Inc and its competitors BCW Group Holding Inc, Coconala Inc, and Pinterest Inc. All three companies are fighting for market share in the online food delivery industry. DoorDash Inc has a strong market position, but its competitors are quickly catching up. All three companies are investing heavily in marketing and technology to gain an edge over the others.
– BCW Group Holding Inc ($TSE:4176)
Coconala Inc is a Japanese e-commerce company with a market cap of 13.79B as of 2022. The company has a Return on Equity of -22.87%. Coconala Inc is an online marketplace that connects buyers and sellers of services. The company offers a variety of services, including web development, design, marketing, and more.
– Coconala Inc ($NYSE:PINS)
Pinterest is a social media and content-sharing platform, typically used for visual content such as photographs, illustrations, and videos. The company was founded in 2010 and is headquartered in San Francisco, California. As of 2022, Pinterest has a market cap of $14.8 billion and a return on equity of 4.93%. The company allows users to create and share collections of visual content, called “boards,” which can be organized by theme, topic, or event. Users can also follow other users’ boards, as well as individual pins, which are images or videos that have been uploaded to the platform.
Summary
DOORDASH reported strong revenue growth in Q2 of 2023 with a 32.6% increase compared to the same quarter last year. Despite this, their net income fell to -170.0 million, a decrease of 35.4% year-over-year. This is likely due to increased operating expenses as the company continues to invest in its technology and logistics operations in order to expand its customer base and market share. For potential investors, DOORDASH appears to have a solid foothold in the delivery industry, but profitability remains a concern.
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