DoorDash, Inc.

Business and latest results

DoorDash operates delivery marketplaces and technology services for restaurants, grocers and other local merchants. Its Nasdaq ticker is DASH.

For the quarter ended September 30, 2026, revenue was $4.616 billion, compared with $3.446 billion a year earlier. Net income attributable to common stockholders was $466 million, up from $244 million. Adjusted EBITDA was $1.060 billion, compared with $754 million. That adjusted measure excludes stock compensation and other specified costs and is not reported net income.

Revenue growth includes the previously acquired Deliveroo business. DoorDash reported 23% revenue growth excluding Deliveroo, compared with 34% growth for the group as reported.

DoorDash completed its Deliveroo acquisition on October 2, 2025. At September 30, 2026, DoorDash held $5.053 billion in cash and cash equivalents. The carrying value of its 2030 convertible notes, net of issuance costs, was $2.728 billion. These balances precede the proposed Instacart transaction.

Cash generated by operations in Q3 was $994 million, compared with $871 million a year earlier. Free cash flow, after equipment and software investment, was $787 million, up from $723 million.

For Q4 2026, DoorDash forecasts marketplace order value of $35.4 billion to $36.4 billion and adjusted EBITDA of $900 million to $1.100 billion. These are management expectations, not completed results.

Proposed Instacart acquisition

On October 29, 2026, DoorDash announced an agreement to acquire Instacart for an equity value of approximately $17 billion. Aggregate consideration would be at least 75% cash and no more than 25% DoorDash stock. Individual shareholder elections are subject to allocation limits.

DoorDash expects to use cash and debt financing. The acquisition remains pending, with completion expected in late 2027 or the first half of 2028, subject to shareholder and regulatory approvals. Until then, the companies continue to operate separately.