DASH Q2 2025 Earnings
Reported Aug 6, 2025 at 4:09 PM ET · SEC Source
Q2 25 EPS
$0.65
BEAT +51.16%
Est. $0.43
Q2 25 Revenue
$3.28B
vs S&P Since Q2 25
-51.2%
TRAILING MARKET
DASH -37.2% vs S&P +14.0%
Market Reaction
Did DASH Beat Earnings? Q2 2025 Results
DoorDash delivered a decisive breakout quarter in Q2 2025, posting earnings per share of $0.65 against a consensus estimate of $0.43, a 51.16% beat, while revenue climbed 24.9% year-over-year to $3.28 billion, underscoring a meaningful inflection tow… Read more DoorDash delivered a decisive breakout quarter in Q2 2025, posting earnings per share of $0.65 against a consensus estimate of $0.43, a 51.16% beat, while revenue climbed 24.9% year-over-year to $3.28 billion, underscoring a meaningful inflection toward sustained profitability. The headline numbers were driven by a sharp improvement in logistics efficiency, a growing advertising revenue contribution, and reduced credits and refunds as a percentage of Marketplace GOV, which itself reached $24.24 billion, up 23% year-over-year on 761 million total orders. Perhaps most strikingly, the company swung to a GAAP net income of $285 million from a loss of $157 million in Q2 2024, while Adjusted EBITDA surged 52% year-over-year to $655 million. For investors watching the stock's next move, management guided Q3 Marketplace GOV of $24.20 billion to $24.70 billion and Adjusted EBITDA of $680 million to $780 million, signaling continued margin expansion even as the pending Deliveroo acquisition remains excluded from all forward estimates.
Key Takeaways
- • Total Orders increased 20% Y/Y to 761 million, a new quarterly record
- • Marketplace GOV increased 23% Y/Y to $24.2 billion, a new quarterly record
- • Net Revenue Margin expanded to 13.5% from 13.3% in Q2 2024, driven by improved logistics efficiency, growing advertising revenue, and reduced credits and refunds
- • DashPass membership growth drove average order frequency to an all-time high
- • Accelerated Y/Y growth in monthly active users and DashPass/Wolt+ members vs Q1 2025
- • Strong U.S. restaurant category performance with accelerating Y/Y order growth
- • New consumer cohort sizes increased Y/Y in each month of Q2 2025
- • Mature U.S. cohort retention rates improved Y/Y
- • International order growth outpaced U.S. marketplace growth
- • Record Wolt+ member additions in Q2 2025
- • International unit economics improved Y/Y and Q/Q, driven by Dasher efficiency
DASH YoY Financials
Q2 2025 vs Q2 2024, source: SEC Filings
DASH Revenue by Segment
Business unit performance breakdown
DASH Earnings Trends
DASH vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
DASH EPS Trend
Earnings per share: estimate vs actual
DASH Revenue Trend
Quarterly revenue: estimate vs actual
DASH Quarterly Results
4 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q4 25 MISS FY | $0.59 | $0.48 | -18.51% | $3.96B | — |
| FY Full Year | — | $2.13 | — | $13.72B | — |
| Q3 25 MISS | $0.68 | $0.55 | -19.12% | $3.45B | — |
| Q2 25 BEAT | $0.43 | $0.65 | +51.16% | $3.28B | — |
| Q1 25 BEAT | $-0.04 | $0.44 | +1,200.00% | $3.03B | — |