DoorDash, Inc. operates a logistics platform that connects merchants, consumers, and dashers in the United States and internationally. It operates DoorDash and Wolt marketplaces, which provides an array of services that enable merchants to solve mission-critical challenges, such as customer acquisition, delivery, insights and analytics, merchandising, payment processing, and customer support; DashPass and Wolt+, a membership products; and offers DoorDash Drive and Wolt Drive, a white-label delivery fulfillment services; DoorDash Storefront that enables merchants to offer consumers on-demand access to e-commerce; and Bbot, which offers merchants digital ordering and payment solutions for in-store and online channels. The company was formerly known as Palo Alto Delivery Inc. and changed its name to DoorDash, Inc. in 2015. DoorDash, Inc. was incorporated in 2013 and is headquartered in San Francisco, California.

DoorDash, Inc.

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Revenue

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Adjusted Funds From Operations

Operating Activities	Jun '25	Dec '24	Jun '24
Net Income	476	300	-183
Net Income Including Redeemable Non-Controlling Interests
Depreciation & Amortization	311	279	282
Depreciation and Amortization
Stock Based Compensation	517	545	554
Stock-Based Compensation
Other Adjustments	52	43	176
Bad Debt Expense
Reduction of Operating Lease Right-of-Use Assets and Accretion of Operating Lease Liabilities
Non-Cash Interest Expense
Office Lease Impairment Expenses
Adjustments to Non-Marketable Equity Securities, Including Impairment, Net
Change in Fair Value of Deal-Contingent Forward Contract
Other
Changes in Trade Receivables	-90	-159	-63
Accounts Receivable, Net
Changes in Accounts Payable	25	134	-52
Accounts Payable
Changes in Accrued Expenses	10	372	571
Accrued Expenses and Other Current Liabilities
Changes in Other Operating Activities	-162	-465	-202
Funds Held at Payment Processors
Prepaid Expenses and Other Current Assets
Other Assets
Payments for Operating Lease Liabilities
Other Liabilities
Cash from Operating Activities	1,139	1,049	1,083
Net Cash Provided by Operating Activities

Investing Activities	Jun '25	Dec '24	Jun '24
Capital Expenditure	-140	-64	-40
Purchases of Property and Equipment
Purchases of Intangible Assets	-150	-121	-105
Capitalized Software and Website Development Costs
Purchases of Investments	-725	-982	-969
Purchases of Marketable Securities
Purchases of Non-Marketable Equity Securities
Proceeds from Sale of Investments	1,087	941	903
Maturities of Marketable Securities
Sales of Marketable Securities
Payments for Business Acquisitions	-1,173	—	—
Acquisitions, Net of Cash Acquired
Other Investing Activities	—	1	-8
Other Investing Activities
Cash from Investing Activities	-1,101	-225	-219
Net Cash Provided by Investing Activities

Financing Activities	Jun '25	Dec '24	Jun '24
Issuance of Long-Term Debt	2,722	—	—
Proceeds from Issuance of Convertible Notes, Net of Issuance Costs
Repayments of Long-Term Debt	—	—	—
Repayment of Convertible Notes
Net Issuance / (Repayments) of Long-Term Debt	2,722	—	—
Issuance of Common Shares	5	11	3
Proceeds from Issuance of Common Stock Upon Initial Public Offering, Net of Underwriter Discounts
Proceeds from Exercise of Stock Options
Repurchases of Common Shares	—	-217	-7
Taxes Paid Related to Net Share Settlement of Equity Awards
Repurchase of Common Stock
Net Issuance / (Repurchases) of Common Shares	5	-206	-4
Issuance of Preferred Shares	—	—	—
Proceeds from Issuance of Preferred Stock, Net of Issuance Costs
Net Issuance / (Repurchases) of Preferred Shares	—	—	—
Other Financing Activities	-349	—	6
Proceeds from Issuance of Warrants
Purchase of Convertible Note Hedges
Deferred Offering Costs Paid
Other Financing Activities
Cash from Financing Activities	2,378	-206	2
Net Cash Provided by Financing Activities

Free Cash Flow	Jun '25	Dec '24	Jun '24
Free Cash Flow	999	985	1,043
NOPAT	322.7	203	-274
Levered Free Cash Flow	3,244	559	379
Unlevered Free Cash Flow	366.7	459	285
Net Change in Cash	2,416	618	866