DoorDash, Inc. (NASDAQ:DASH) Q3 2023 Earnings Conference Call November 1, 2023 5:00 PM ET Company Participants Andy Hargreaves - Vice President, Finance and Investor Relations Tony Xu - Co-Founder, Chair and CEO Ravi Inukonda - Chief Financial Officer Conference Call Participants Nikhil Devnani - Bernstein Ross Sandler - Barclays Deepak Mathivanan - Wolfe Research Ron Josey - Citi Eric Sheridan - Goldman Sachs Douglas Anmuth - J.P. Morgan Securities Inc. Brian Nowak - Morgan Stanley Michael Morton - Moffett ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _____________________________________ FORM 10-Q _____________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-39759 _______________________ ...

DoorDash, Inc. (NASDAQ:DASH) Q2 2023 Earnings Conference Call August 2, 2023 5:00 PM ET Company Participants Andy Hargreaves - Vice President, Finance and Investor Relations Tony Xu - Co-Founder, Chair and CEO Ravi Inukonda - Chief Financial Officer Conference Call Participants Deepak Mathivanan - Wolfe Research Mark Mahaney - Evercore ISI Nikhil Devnani - Bernstein Ron Josey - Citi Lloyd Walmsley - UBS Douglas Anmuth - J.P. Morgan Securities Inc. Brian Nowak - Morgan Stanley Eric Sheridan - Goldman Sachs R ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _____________________________________ FORM 10-Q _____________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-39759 ____________________________ ...

DoorDash, Inc. (NASDAQ:DASH) Q1 2023 Earnings Conference Call May 4, 2023 5:00 PM ET Company Participants Andy Hargreaves - Vice President, Finance and Investor Relations Tony Xu - Co-Founder, Chair and CEO Ravi Inukonda - Chief Financial Officer Conference Call Participants Ross Sandler - Barclays Deepak Mathivanan - Wolfe Research Bernie McTernan - Needham & Company Michael McGovern - Bank of America Michael Morton - MoffettNathanson Ian Peterson - Evercore Andrew Boone - JMP Securities Brian Nowak - Morg ...

Financial Performance - Total Orders increased to 512 million in Q1 2023, a 27% YoY growth driven by consumer growth and the acquisition of Wolt[110][111] - Marketplace GOV reached $15.9 billion in Q1 2023, a 29% YoY increase primarily due to organic growth and the Wolt acquisition[110][113] - Revenue grew to $2.035 billion in Q1 2023, a 40% YoY increase, driven by a 29% rise in Marketplace GOV and improved logistics efficiency[110][129] - Contribution Profit increased to $533 million in Q1 2023, up from $319 million in Q1 2022, driven by higher Marketplace GOV and Net Revenue Margin[110][116] - Adjusted EBITDA rose to $204 million in Q1 2023, compared to $54 million in Q1 2022, primarily due to growth in Contribution Profit[110][120] - GAAP Net Loss including redeemable non-controlling interests was $162 million in Q1 2023, slightly improved from $167 million in Q1 2022[110][123] - Net Revenue Margin improved to 12.8% in Q1 2023, up from 11.8% in Q1 2022, indicating better revenue efficiency[110] Cash Flow and Liquidity - Free Cash Flow improved to $316 million in Q1 2023, from negative $91 million in Q1 2022, driven by changes in operating assets and liabilities[121] - The company had $3.7 billion in cash, cash equivalents, and marketable securities as of March 31, 2023, with $1.8 billion in cash and cash equivalents[174] - Net cash provided by operating activities was $397 million in Q1 2023, compared to a net cash used of $20 million in Q1 2022[178] - Cash used in investing activities decreased to $10 million in Q1 2023 from $246 million in Q1 2022, primarily due to lower purchases of marketable securities[183] - Cash used in financing activities was $390 million in Q1 2023, mainly due to $392 million in Class A common stock repurchases[185] - The company's board authorized a $750 million share repurchase program in February 2023[176] Expenses and Investments - Research and Development expenses increased to $231 million in Q1 2023, up from $148 million in Q1 2022, reflecting investments in platform improvements[123][134] - Stock-based compensation expense rose to $230 million in Q1 2023, compared to $129 million in Q1 2022, reflecting increased employee compensation[123] - Cost of revenue increased by $306 million (40%) in Q1 2023 compared to Q1 2022, driven by higher order management and platform costs[131] - Sales and marketing expenses rose by $82 million (20%) in Q1 2023, primarily due to increased advertising and personnel-related costs[133] - Research and development expenses grew by $83 million (56%) in Q1 2023, mainly from higher personnel-related compensation and allocated overhead[135] - General and administrative expenses increased by $40 million (16%) in Q1 2023, driven by higher personnel-related costs offset by lower transaction-related expenses[137] - Depreciation and amortization expenses surged by $64 million (108%) in Q1 2023, primarily due to increased amortization of acquired intangible assets and capitalized software costs[139] Investments and Financial Instruments - The company's investment portfolio consists of short-term fixed income securities, including government and investment-grade debt securities and money market funds, recorded at fair value with unrealized gains or losses reported in stockholders' equity[189] - A hypothetical 100 basis point increase in interest rates would not have materially affected the company's financial statements as of March 31, 2023[190] - The aggregate carrying value of the company's non-marketable equity investments was $125 million as of March 31, 2023[193] Foreign Currency Exposure - The company is exposed to foreign currency exchange rate fluctuations, primarily in the Euro, Canadian dollars, Israeli shekel, and Australian dollars, which could impact reported revenue and expenses[194] - Foreign currency gains and losses were immaterial for the quarter ended March 31, 2023, and a 10% change in exchange rates against the U.S. dollar would not have resulted in a material gain or loss[195] - Translation adjustments from converting foreign subsidiaries' financial statements into U.S. dollars would result in a gain or loss recorded in stockholders' equity[196]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _____________________________________ FORM 10-K _____________________________________ (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-39759 ________________________________ ...

Financial Data and Key Metrics Changes - The company reported a year-on-year increase in core DoorDash gross margin, excluding Wolt, driven by improvements in costs as a percentage of gross order value (GOV) and credits and refunds, although consolidated gross margin declined due to a mix shift towards Wolt [7] - The DashPass subscriber count increased from 10 million at the end of 2021 to over 15 million at the end of 2022, indicating consistent growth despite competitive pressures [17][29] - The U.S. convenience and grocery business grew approximately 60% year-on-year in Q4, while the U.S. grocery business saw a remarkable 100% year-on-year growth [21] Business Line Data and Key Metrics Changes - The new verticals, including package pickup, are showing early demand trends that suggest they may lower the time-sensitive nature faced in core restaurant deliveries, with unit economics improving compared to prior new verticals [10][14] - The contribution profit of the core U.S. restaurant business has consistently improved over the past few years, despite challenges such as post-COVID reopening and regulatory impacts [25] Market Data and Key Metrics Changes - The Wolt business grew 50% on a constant currency basis, significantly outpacing its European peers, indicating strong market performance [45] - The company has gained share in the majority of its international markets, reflecting successful expansion efforts [57] Company Strategy and Development Direction - The company aims to maximize long-term profit dollars through strategic capital allocation, focusing on building categories beyond restaurants and enhancing operations globally [42][56] - Investments are being directed towards improving unit economics and operational efficiency, particularly in the third-party grocery business, which achieved breakeven on a variable profit basis in 2022 [46] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strength of consumer metrics and the potential for continued growth, despite uncertainties in the macroeconomic environment [96][97] - The company is focused on improving affordability for customers, with initiatives aimed at reducing transaction costs and enhancing service value [134] Other Important Information - The company is actively working on leveraging AI and machine learning to enhance logistics and customer support, which is expected to drive efficiency gains [104] - The management acknowledged the need for ongoing improvements in product quality to enhance retention and reduce fulfillment costs [116] Q&A Session Summary Question: What are the largest areas of incremental investments planned for 2023? - Management highlighted investments in building out new categories and international operations, particularly in the Wolt business, which is growing rapidly [42][45] Question: How is the DashPass subscriber growth tracking? - The DashPass subscriber growth has been consistent, with the program seeing significant adoption driven by selection, price, and quality [48][80] Question: What is the impact of potential regulations in markets like New York City? - Management indicated that the impact from regulatory costs has been factored into the EBITDA guidance, with operational levers available to maintain profitability [60] Question: How is the company addressing affordability for customers? - The company has reduced transaction costs for consumers by about 8% and is focused on making services more affordable while enhancing value [115][134] Question: What is the outlook for new restaurant and merchant signups? - The company continues to see growth in selection on the platform, with a focus on onboarding new restaurants and non-restaurant partners [76][90]

DoorDash, Inc. (NASDAQ:DASH) Q3 2022 Earnings Conference Call November 3, 2022 5:00 PM ET Company Participants Andy Hargreaves - VP, IR Tony Xu - Co-Founder, Chair and CEO Prabir Adarkar - CFO Conference Call Participants Ross Sandler - Barclays Bernie McTernan - Needham Deepak Mathivanan - Wolfe Research Eric Sheridan - Goldman Sachs James Lee - Mizuho Securities Youssef Squali - Truist Securities Douglas Anmuth - JPMorgan Brian Nowak - Morgan Stanley Mark Mahaney - Evercore ISI Operator Thank you for stan ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _____________________________________ FORM 10-Q _____________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 OR ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to | --- | |------------------------------------------------- ...