DoorDash (NASDAQ: DASH) reported Q1 EPS of $0.44, $0.04 better than the analyst estimate of $0.40. Revenue for the quarter came in at $3.03 billion versus the consensus estimate of $3.1 billion.

Financial Outlook

We continue to expect Adjusted EBITDA as a percentage of Marketplace GOV to increase from Q2 to Q3.

Based on our current outlook and assuming a stock price consistent with recent trading levels, we expect:

• 2025 stock-based compensation expense of approximately $1.1 billion to $1.2 billion,
• 2025 depreciation and amortization expense of approximately $600 million to $640 million.

Our outlook assumes that aggregate consumer demand and key foreign currency rates remain relatively stable at current levels. Our outlook also anticipates significant levels of ongoing investment in new categories and international markets. We caution investors that consumer spending in any of our geographies could deteriorate relative to our outlook, which could drive results below our expectations. Additionally, our increasing international exposure heightens risks associated with operating in foreign markets, including geopolitical and currency risks. Changes in the international operating environment could negatively impact results versus our current outlook.

For earnings history and earnings-related data on DoorDash (DASH) click here.