DoorDash Q1 2026 earnings: revenue up 33%, orders climb, Europe accelerates
DoorDash's Q1 2026 revenue grew 33% year-over-year to $4.0 billion and orders rose 27% to 933 million, with the company posting $0.42 in per-share earnings and highlighting record DashPass membership and fast-growing European operations.
| Q1 2026 | Reported |
|---|---|
| EPS | $0.42 |
| Revenue | $4.04B |
Figures as reported by the company to the SEC for the quarter ended March 31, 2026. Analyst estimates are not part of a filing, so no comparison to expectations is shown.
Key takeaways
- Revenue grew 33% from a year earlier to just over $4 billion, and total orders placed on the platform rose 27% year-over-year to 933 million — both signs that more customers are ordering more often.
- Marketplace GOV (the total dollar value of all food, grocery and retail orders processed, before DoorDash takes its cut) rose 37% year-over-year to $31.6 billion, outpacing order growth — suggesting customers are spending more per order or ordering higher-priced items.
- Adjusted EBITDA, a measure of core operating profit before non-cash and one-time items, came in at $754 million for the quarter, reflecting the profitability of the core delivery business.
- Over the trailing twelve months, DoorDash’s operating margin was 4.48% and net profit margin was 5.29% — modest but positive, showing the company is now generating real profit rather than just growing revenue.
- Management pointed to record engagement with DashPass, the company’s paid membership program, and growing monthly active users as key drivers of order and spending growth.
- International expansion was a major theme: CEO Tony Xu said Deliveroo (the European delivery service DoorDash acquired) is growing at its fastest rate in four years, with both Deliveroo and Bolt gaining market share in Europe.
- DoorDash is investing several hundred million dollars in 2026 to merge the DoorDash, Wolt and Deliveroo brands onto one shared technology platform, aiming to roll out new features faster and cut duplicate costs across its international brands.
- For the current quarter, the company guided to Marketplace GOV of $32.4-$33.4 billion and adjusted EBITDA of $770-$870 million, and said it still expects Deliveroo to contribute about $200 million of adjusted EBITDA for the full year.
- DoorDash shares rose after the report, with coverage attributing the reaction to the company’s profitability and membership growth rather than the pace of revenue growth alone.
Q1 2026 in context
| Metric | Mar 2026 | Mar 2025 | Change |
|---|---|---|---|
| Revenue | $4.0B | $3.0B | +33.1% |
| Net income | $184M | $193M | -4.7% |
| Free cash flow | $537M | $561M | -4.3% |
| Diluted EPS | $0.42 | $0.44 | -4.5% |
| Operating margin | 3.7% | 5.1% | -1.4 pts |
| Net margin | 4.6% | 6.4% | -1.8 pts |
Figures for the quarter ended Mar 2026 and the quarter ended Mar 2025, as reported to the SEC.
How the stock took it
DoorDash Inc closed at $166.14 on May 5, 2026, the last session before the report, and at $171.35 on May 7, 2026, the first session after it — +3.1% across the report.
| Earlier report | Close before | Close after | Change |
|---|---|---|---|
| Nov 6, 2025 | $238.00 | $204.31 | -14.2% |
Closes from the market's daily record. Each figure spans the report date — from the last session that closed before it to the first that closed after — because a company may report before the open or after the close.
Sources: company report · earnings call · financial media coverage