Quarterly Report — Q3 2024
Filed October 30, 2024
Revenue hit $2.71 billion in Q3 2024, up 25% year-over-year, with international operations growing even faster as a share of the mix. The company swung to net income of $162 million for the quarter versus a $73 million loss a year ago — a clear profitability inflection point. DoorDash also extended its credit facility through April 2029 with a $800 million revolving line, signaling confidence in its balance sheet as it continues scaling globally.
Filing details
Performance by segment
Single Reportable Segment
DoorDash operates as a single reportable segment encompassing its Marketplaces (DoorDash and Wolt) and Commerce Platform. Q3 2024 revenue grew 25% YoY to $2.706 billion, with Total Orders up 18% to 643 million and Marketplace GOV up 19% to $20.0 billion. The company posted $162 million in net income attributable to common stockholders (vs. a $73 million net loss in Q3 2023), while Adjusted EBITDA rose to $533 million from $344 million a year ago, driven by increasing advertising revenue contribution and improvements in logistics quality and efficiency.
United States
U.S. revenue grew 21% YoY to $2.361 billion in Q3 2024, up from $1.953 billion in Q3 2023. For the nine months ended September 30, 2024, U.S. revenue was $6.901 billion compared to $5.738 billion in the prior year period, representing 20% growth. The U.S. remains the dominant geography, accounting for approximately 87% of total revenue in Q3 2024.
International
International revenue surged 64% YoY to $345 million in Q3 2024, up from $211 million in Q3 2023. For the nine months ended September 30, 2024, international revenue was $948 million compared to $594 million in the prior year period, representing 60% growth. International operations, primarily driven by Wolt, are growing significantly faster than the U.S. business and now represent approximately 13% of total revenue.