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DoorDash shares plummet more than 12% after reporting mixed quarter

11/5/2025, 9:47:34 PM
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Economic Summary
  • DoorDash (DASH) reported revenue of $3.45 billion versus $3.36 billion expected, and total orders rose 21% year-over-year to 776 million, indicating continued top-line and volume momentum.
  • Earnings per share missed at $0.55 versus $0.69 expected, highlighting near-term profitability pressure despite revenue strength.
  • Management flagged plans to invest 'several hundred million' more in 2026 for robotics, software, and a shared platform across DoorDash, Deliveroo (ROO), and Volt, which will weigh on margins.
  • Deliveroo is expected to contribute approximately $45 million to adjusted EBITDA in Q4 2025 and about $200 million in 2026, showing acquisition tailwinds but also prompting incremental investment.
Bullish
  • Revenue beat ($3.45B vs $3.36B) showing top-line strength.
  • Total orders grew 21% year-over-year to 776M, core marketplace healthy.
  • Deliveroo acquisition expected to add meaningful adjusted EBITDA in 2025–26.
Bearish
  • EPS missed consensus ($0.55 vs $0.69), signaling near-term profitability weakness.
  • Planned 'several hundred million' more in 2026 investments could depress margins.
  • Uncertainty about profitability and increased spending drove share price down >12%.
Bullish tickers
DASHROO
Bearish tickers
DASH
DASH
Bullish
Revenue beat, 21% order growth, and marketplace strength; Deliveroo acquisition expected to add adjusted EBITDA.
Bearish
EPS miss and guidance of materially higher 2026 investments could pressure margins and near-term profitability.
ROO
Bullish
Deliveroo expected to contribute ~$45M adjusted EBITDA in Q4 2025 and ~$200M in 2026, growing faster than expected.
Bearish
Integration and additional investment needs could delay profit realization despite growth.
VOLT
Bullish
Named as part of a shared robotics/software platform investment, implying strategic importance if execution succeeds.
Bearish
Unclear costs and contribution; increased platform investment creates execution risk.