Doordash Inc Dash Stock Price & 30 Year Financial Data

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In addition, if we are unable to continue to meet these requirements, we may not be able to remain listed on the New York Stock Exchange. Unfavorable publicity regarding our business model, pay model, user support, technology, platform changes, platform quality, delivery issues, privacy or security practices, management team or the safety of Dashers, merchants and consumers using our platform could adversely affect our reputation. Such negative publicity could also harm the size of our network and the engagement and loyalty of merchants, consumers, and Dashers that utilize our platform, which could adversely affect our business, financial condition, and results of operations. For example, we have previously received negative media coverage related to the manner in which Dashers were compensated, in particular with respect to gratuities, concerns related to food tampering and general food safety and quality, and concerns regarding the safety of Dashers, consumers and merchants using our platform, which has adversely affected our reputation and brand. As our platform continues to scale and public awareness of our brand increases, any future issues that draw media coverage could have an amplified negative effect on our reputation and brand.

Significant judgment is required on an ongoing basis to evaluate applicable tax obligations, and as a result, amounts recorded are estimates and are subject to adjustments. In many cases, the ultimate tax determination is uncertain because it is not clear how new and existing statutes might apply to our business or to local logistics businesses generally. Further, we expect that governments will develop regulations that are specifically designed to apply to autonomous and drone technologies. These regulations could include requirements that significantly delay or narrowly limit the commercialization of autonomous and drone technologies, limit the amount of autonomous and drone delivery on our platform, or impose significant liabilities on manufacturers or operators of these solutions or developers of these technologies. Moreover, these regulations may affect our or our partners’ ability to design and manufacture new autonomous or drone technologies.

  • For further information, see Note 2 to our consolidated financial statements included elsewhere in this Annual Report on Form 10-K.
  • The amounts payable to merchants and Dashers are included in accrued expenses and other current liabilities on the consolidated balance sheets as payments are typically settled on a weekly basis.
  • The estimate of the Company’s retained insurance deductibles reserves as of December 31, 2021 was $143 million.
  • As of December 31, 2020 and 2021, no allowance of credit losses related to marketable securities was recorded.
  • You can also sign up for email updates on the SEC open data program, including best practices that make it more efficient to download data, and enhancements that may impact scripted downloading processes.
  • In addition, users on our platform could have vulnerabilities on their own devices that are entirely unrelated to our systems and platform but could mistakenly attribute their own vulnerabilities to us.
  • This assessment considers matters such as future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies, and results of recent operations.

Today, DoorDash released its second annual Restaurant Online Ordering Trends Report which takes a deep dive into consumer online ordering preferences and emerging dining trends as to what Americans are ordering online and eating now. DoorDash launches its second annual Restaurant Online Ordering Trends Report to give merchants a look at what the local neighborhood is ordering up. History says a down market is the best time to put money to work, but not all opportunities are created equal. Anthony Di Pizio A bear market becomes official when the price of an asset or index falls by 20% or more. DoorDash raised its guidance for its full-year marketplace GOV, which it said accounts for a softening economic environment in the second half of the year. It now expects full-year 2022 marketplace GOV to be in the range of $51 billion to $53 billion, up from its prior estimates of $49 billion to $51 billion.

Future Competition: Doordash’s Fastest Growing Competitors

Advance notice procedures apply for stockholders to nominate candidates for election as directors or to bring matters before an annual meeting of stockholders. Any of the foregoing with respect to our competitors, to the extent such resulting negative perception affects the public’s perception of us or our industry as a whole. As such, we encourage investors, the media, and others to follow the channels listed above and to review the information disclosed through such channels. This six-month program happens once a year and includes classroom-style learning, one-on-one coaching, and group roundtables. Based on the number of Dasher accounts that have delivered an order through our platform in the past year, measured as of December 31, 2021.

doordash annual report

If we fail to address the foregoing risks or other problems encountered in connection with past or future acquisitions of businesses, new technologies, services, and other assets and strategic investments, or if we fail to successfully integrate such acquisitions or investments, our business, financial condition, and results of operations could be adversely affected. Any failure to offer high-quality support may harm our relationships with merchants, doordash annual report consumers, and Dashers and could adversely affect our business, financial condition, and results of operations. Based on third-party data, DoorDash said it estimates less than 8% of total restaurant spend and less than 1% of total grocery and convenience spend. “This has helped offset the impact of higher subtotals and resulted in only a slight Y/Y increase in the total consumer cost of an average order,” Xu and Adarkar said in the letter.

Quarterly Results

The “Competition” section of a business plan or investment memorandum would start by analyzing the information about these companies. The following information was filed by Doordash, Inc. on Wednesday, February 16, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

In addition, negative publicity related to key brands or influencers that we have partnered with may damage our reputation, even if the publicity is not directly related to us. Any negative publicity that we may receive could diminish confidence in, and the use of, our platform, which could adversely affect our business. Further, we may in the future enter into arrangements to acquire or invest in businesses, products, services, and technologies. In the event that additional financing is required from outside sources, we may not be able to raise it on terms acceptable to us or at all. If we are unable to raise additional capital when desired, our business, financial condition, and results of operations could be adversely affected.

Cash and cash equivalents consisted of cash on deposit with banks as well as institutional money market funds and U.S. Marketable securities consisted of commercial paper, corporate bonds, U.S. government agency securities, and U.S. We are currently subject to some foreign currency exchange risk because we conduct business operations in several foreign countries through our foreign subsidiaries or affiliates, which conduct business in their respective local currencies. Wolt conducts a significant portion of its operations outside of the United States through its subsidiaries or affiliates, which also operate in their respective local currencies, the most significant of which are currently the Euro, the Japanese Yen and the Israeli Shekel.

Any such failure in Internet or mobile device or computer accessibility, even for a short period of time, could adversely affect our results of operations. Further, any negative publicity related to the foregoing, whether such incident occurred on our platform or on our competitors’ platforms, could adversely affect our reputation and brand or public perception of our industry as a whole, which could negatively affect demand for platforms like ours, and potentially lead to increased regulatory or litigation exposure. Even if a virus or other disease does not spread significantly and such measures are not implemented, the perceived risk of infection or significant health risk may adversely affect our business. Merchants may be perceived as unsafe during such public health threats, even for order delivery or pickup. If the services offered through our platform or at other businesses in our industry become a significant risk for transmitting COVID-19 or similar public health threats, or if there is a public perception that such risk exists, demand for the use of our platform would be adversely affected.

doordash annual report

We may face difficulties as we expand our operations into new local markets in which we have limited or no prior operating experience. In addition, users on our platform could have vulnerabilities on their own devices that are entirely unrelated to our systems and platform but could mistakenly attribute their own vulnerabilities to us. For example, credential stuffing attacks are becoming increasingly common and sophisticated actors can mask their attacks, making them increasingly difficult to identify and prevent. We have previously experienced incidents of fraud on our platform that we believe involve credential stuffing attacks, which we have been unable to detect or prevent.

Our competitors could also introduce new offerings with competitive price and performance characteristics or undertake more aggressive marketing campaigns than ours. The Company generates a substantial majority of its revenue from orders completed through the Marketplace and the related commissions charged to partner merchants and fees charged to consumers. A partner merchant represents a merchant that has entered into a contractual agreement with the Company. Revenue from the Marketplace is recognized at the point in time when the consumer obtains control of the merchant’s products. The Company also generates revenue from membership fees paid by consumers for DashPass, which is recognized as part of the Marketplace. Revenue generated from the Company’s DashPass memberships is recognized on a ratable basis over the contractual period, which is generally one month to one year depending on the type of membership purchased by the consumer.

In fact, in Q1, more consumers than ever before were ordering on DoorDash and there are more DashPass members than ever before! And it’s certainly reflected in the Restaurant Online Ordering Trends Report showing that ordering delivery remains a consumer preference with 83% of consumers ordering delivery as much or more than they did last year and 86% reporting order takeout/pickup as much or more than last year. DoorDash exhibits a price/book ratio which is less than the industry average for business services stocks listed on the NYSE.

Such vulnerabilities could also be exploited by malicious actors and result in exposure of data of users on our platform, or otherwise result in a security breach or other security incident. We may need to expend significant financial and development resources to analyze, correct, eliminate, or work around errors or defects or to address and eliminate vulnerabilities. Any failure to timely and effectively resolve any such errors, defects, or vulnerabilities could adversely affect our business, reputation, brand, financial condition, and results of operations. Additionally, commencing with this annual report on Form 10-K, our independent registered public accounting firm is required to formally attest to the effectiveness of our internal control over financial reporting. Our independent registered public accounting firm may issue a report that is adverse in the event it is not satisfied with the level at which our internal control over financial reporting is documented, designed, or operating. Any failure to maintain effective disclosure controls and internal control over financial reporting could have an adverse effect on our business and results of operations and could cause a decline in the price of our Class A common stock.

Doordash Dash Earnings, Revenues Date & History

If our senior management team fails to work together effectively and to execute its plans and strategies, our business, financial condition, and results of operations could be adversely affected. Bad actors use increasingly sophisticated methods to engage in illegal activities involving personal information, such as unauthorized use of another person’s identity, account information, or payment information and unauthorized acquisition or use of credit or debit card details, bank account information, and mobile phone numbers. For example, bad actors have created Dasher accounts using other people’s stolen personal identifying information to commit fraud on our platform and for other illicit purposes. Among other things, this has caused Form 1099s to be incorrectly sent to individuals who are not performing services as Dashers. With the COVID-19 pandemic, we have experienced a significant increase in revenue, Total Orders, and Marketplace GOV due to increased consumer demand for delivery, more merchants using our platform to facilitate both delivery and take-out, and improved efficiency of our local logistics platform. The circumstances that have accelerated the growth of our business stemming from the effects of the COVID-19 pandemic are not likely to continue, and we expect our revenue, Total Orders, and Marketplace GOV growth rates to decline in future periods compared to growth rates in 2020 and 2021.

Historical Revenue Annual Data

As we and our competitors introduce new offerings and as existing offerings evolve, we expect to become subject to additional competition. In addition, our competitors may adopt certain of our platform features or may adopt innovations that merchants, consumers, or Dashers value more highly than ours, which would render our platform less attractive and reduce our ability to differentiate our platform. Increased competition could result in, among other things, a reduction of the revenue we generate from the use of our platform, the number of platform users, the frequency of use of our platform, and our margins. In November 2019, the Company entered into a revolving credit and guaranty agreement which provides for a $300 million unsecured revolving credit facility maturing on November 19, 2024. Loans under the credit facility bear interest, at the Company’s option, at a base rate equal to the highest of the prime rate, the higher of the federal funds rate or a composite overnight bank borrowing rate plus 0.50%, or an adjusted LIBOR rate for a one-month interest period plus 1.00%, or an adjusted LIBOR rate plus a margin equal to 1.00%. The Company is also obligated to pay other customary fees for a credit facility of this size and type, including letter of credit fees, an upfront fee, and an unused commitment fee of 0.10%.

We define Adjusted Gross Profit as gross profit plus depreciation and amortization expense related to cost of revenue, stock-based compensation expense and certain payroll tax expense included in cost of revenue, and allocated overhead included in cost of revenue. Adjusted Gross Margin is defined as Adjusted Gross Profit as a percentage of revenue for the same period. We define adjusted cost of revenue as cost of revenue, exclusive of depreciation and amortization, excluding stock-based compensation expense and certain payroll tax expense, and allocated overhead.

Market Information

In expanding our operations into new markets to acquire additional merchants and consumers, we may be placed into unfamiliar competitive environments, and we may invest significant resources with the possibility that the return on such investments will not be achieved for several years or at all. We cannot assure you that the revenue from the merchants and consumers we acquire will ultimately exceed the cost of acquisition. A control system, no matter how well designed and operated, can provide only reasonable, not absolute, assurance that the objectives of the control system are met. Further, the design of a control system must reflect the fact that there are resource constraints, and the benefits of controls must be considered relative to their costs.

Annual Lobbyist Employer Reports

F gift card breakage revenue, which represented the estimate of cumulative gift card breakage through December 31, 2021 based on the Company’s accounting policy discussed in Note 2. Uses a derived unsecured synthetic credit rating adjusted for collateralization, current available yield curves, and the lease term as inputs to derive an appropriate incremental borrowing rate. $10 million, which was repaid from the proceeds of the sale of shares into the market on the IPO Vested RSU Settlement Date. Quarterly basis and adjust these provisions accordingly to reflect the impact of negotiations, settlements, rulings, advice of legal counsel, and updated information. On February 19, 2020, we issued $340 million aggregate principal amount of Convertible Notes pursuant to the Convertible Note Purchase Agreement, dated February 19, 2020, among us, Caviar, and the investors party thereto, or the Note Investors. We received net proceeds of $333 million, net of $2 million in debt issuance costs and an original issue discount of $5 million.

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