DoorDash (DASH) Shares Surged 25% Following Q4 Results
DoorDash (NYSE: DASH) shares rose 25% after-hours following the company’s reported record user and order numbers during Q4, while EPS missed the estimates, coming in at ($0.45), compared to the consensus of ($0.27).
Q4 revenue grew 34% year-over-year to $1.3 billion, slightly above the consensus estimate of $1.28 billion. Total orders grew 35% year-over-year to 369 million (driven by increased averagevorder frequency, MAU growth, and growth in orders through Drive), and Marketplace GOV grew 36% year-over-year to $11.2 billion.
The company achieved a record MAUs of over 25 million (up 22% year-over-year) and DashPass members of over 10 million in Q4.
According to Reuters, Wall Street analysts believe food ordering habits have likely changed permanently, with delivery services providers including DoorDash, Uber Eats and Grubhub positioned to deliver solid growth for several years.
The company expects Q1/22 Marketplace GOV to be in a range of $11.4-$11.8 billion, with Adjusted EBITDA of $0-$50 million. For the full 2022-year, the company expects Marketplace GOV to be in a range of $48-$50 billion, with Adjusted EBITDA of $0-$500 million. The company’s outlook excludes any impact from the pending Wolt transaction, which is expected to close in H1/22.
