DoorDash(US:DASH)2025-11-05 23:00Financial Data and Key Metrics Changes - The company reported that growth accelerated for the fourth consecutive quarter, with improving unit economics and increasing profit dollars, allowing for reinvestment back into the business [14][15]. - The EBITDA margin for the existing business, excluding Deliveroo, is expected to be slightly up compared to 2025 [15][50]. Business Line Data and Key Metrics Changes - The core business continues to perform well, with significant investments planned in technology and new product initiatives [14][15]. - New verticals are experiencing strong growth, with increasing order frequency and basket size, indicating consumer satisfaction [56][61]. Market Data and Key Metrics Changes - The company is focusing on expanding its presence in Europe, leveraging lessons learned from previous acquisitions to enhance product offerings and improve unit economics [30][25]. - The U.S. marketplace has shown consistent strength, with increasing monthly active users and order frequency across various categories [59][61]. Company Strategy and Development Direction - The company is investing heavily in building a new global tech platform to streamline operations and enhance efficiency, particularly in AI integration [10][12]. - There is a strong emphasis on improving product quality and consumer experience to drive retention and order frequency, which is crucial for long-term growth [24][25]. Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth potential of the business, citing strong performance metrics and a disciplined investment approach [15][19]. - The company is optimistic about the integration of Deliveroo and the potential for improved unit economics and product offerings in the European market [19][30]. Other Important Information - The company is focusing on enhancing its DashMart fulfillment services to provide better inventory management and same-day delivery capabilities [52][74]. - There is a commitment to maintaining high standards for Dasher authenticity and ensuring compliance with regulations regarding documented workers [44][79]. Q&A Session Summary Question: Investment allocation for 2026 - Management indicated that investments will primarily focus on building a global tech platform and new product initiatives, with expectations for improved efficiency and cost savings over time [6][10]. Question: Deliveroo investment strategy - The strategy involves enhancing product experience and unit economics, with a focus on improving retention and engagement metrics [19][25]. Question: European market landscape - Management sees a significant opportunity to lead in local commerce in Europe, leveraging existing strengths and experiences from previous acquisitions [30][25]. Question: Advertising business outlook - The advertising business is growing rapidly, with a focus on balancing advertiser returns and consumer experience [42][45]. Question: New verticals and growth potential - New verticals are showing promise, with strong growth in categories like pets, electronics, and health and beauty, indicating a broadening of the company's market reach [68][70].