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DASH Q4 Earnings Miss Estimates, Stock Rises on Upbeat Outlook
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DoorDash (DASH - Free Report) reported earnings of 33 cents per share in the fourth quarter of 2024, in contrast to the year-ago quarter’s loss of 39 cents. The figure missed the Zacks Consensus Estimate by 2.94%.
Revenues increased 24.8% year over year to $2.87 billion and surpassed the consensus mark by 1.34%. The upside was driven by higher Marketplace Gross Order Value (GOV) and growth in advertising revenues.
Following the results, DoorDash shares gained 5.75% in the after-hours trading to $204.20 on Feb. 11, likely driven by strong revenue growth, strong performance in total orders and Marketplace GOV.
In the fourth quarter, total orders increased 19% year over year to 685 million. The figure beat the Zacks Consensus Estimate by 1.50%.
Marketplace GOV increased 21% year over year to $21.3 billion. The figure beat the consensus estimate by 1.67%.
The adjusted gross profit was $1,472 million, up 31.8% from the year-ago period. The adjusted gross margin expanded 270 basis points (bps) to 51.2%.
The contribution margin was 33.7% compared with 29.9% in the year-ago quarter.
Adjusted sales and marketing expenses rose 17.8% year over year to $504 million.
Adjusted research and development expenses increased 25.8% year over year to $166 million.
Adjusted general and administrative expenses increased 21.6% from the year-ago quarter to $236 million.
Adjusted EBITDA was $566 million compared with the year-ago quarter’s $363 million. The adjusted EBITDA margin expanded 390 bps to 19.7%.
DASH’s Balance Sheet & Cash Flow
As of Dec. 31, 2024, DoorDash had $5.34 billion in cash and cash equivalents, and short-term marketable securities compared with $4.96 billion as of Sept. 30, 2024.
Cash flow from operations was $518 million in the fourth quarter compared with the previous quarter’s $531 million.
The free cash flow was $420 million, lower than the previous quarter’s $444 million.
DASH’s Q1 Guidance
For the first quarter of 2025, DoorDash anticipates Marketplace GOV of $22.6-$23 billion.
Adjusted EBITDA is expected to be $550-$600 million.
Image: Bigstock
DASH Q4 Earnings Miss Estimates, Stock Rises on Upbeat Outlook
DoorDash (DASH - Free Report) reported earnings of 33 cents per share in the fourth quarter of 2024, in contrast to the year-ago quarter’s loss of 39 cents. The figure missed the Zacks Consensus Estimate by 2.94%.
Find the latest EPS estimates and surprises on Zacks Earnings Calendar.
Revenues increased 24.8% year over year to $2.87 billion and surpassed the consensus mark by 1.34%. The upside was driven by higher Marketplace Gross Order Value (GOV) and growth in advertising revenues.
Following the results, DoorDash shares gained 5.75% in the after-hours trading to $204.20 on Feb. 11, likely driven by strong revenue growth, strong performance in total orders and Marketplace GOV.
DoorDash, Inc. Price, Consensus and EPS Surprise
DoorDash, Inc. price-consensus-eps-surprise-chart | DoorDash, Inc. Quote
DASH’s Quarter in Details
In the fourth quarter, total orders increased 19% year over year to 685 million. The figure beat the Zacks Consensus Estimate by 1.50%.
Marketplace GOV increased 21% year over year to $21.3 billion. The figure beat the consensus estimate by 1.67%.
The adjusted gross profit was $1,472 million, up 31.8% from the year-ago period. The adjusted gross margin expanded 270 basis points (bps) to 51.2%.
The contribution margin was 33.7% compared with 29.9% in the year-ago quarter.
Adjusted sales and marketing expenses rose 17.8% year over year to $504 million.
Adjusted research and development expenses increased 25.8% year over year to $166 million.
Adjusted general and administrative expenses increased 21.6% from the year-ago quarter to $236 million.
Adjusted EBITDA was $566 million compared with the year-ago quarter’s $363 million. The adjusted EBITDA margin expanded 390 bps to 19.7%.
DASH’s Balance Sheet & Cash Flow
As of Dec. 31, 2024, DoorDash had $5.34 billion in cash and cash equivalents, and short-term marketable securities compared with $4.96 billion as of Sept. 30, 2024.
Cash flow from operations was $518 million in the fourth quarter compared with the previous quarter’s $531 million.
The free cash flow was $420 million, lower than the previous quarter’s $444 million.
DASH’s Q1 Guidance
For the first quarter of 2025, DoorDash anticipates Marketplace GOV of $22.6-$23 billion.
Adjusted EBITDA is expected to be $550-$600 million.
Zacks Rank & Other Stocks to Consider
DoorDash currently has a Zacks Rank #2 (Buy).
KT (KT - Free Report) , BWX Technologies (BWXT - Free Report) and Innodata (INOD - Free Report) are some other top-ranked stocks in the broader sector.
KT flaunts a Zacks Rank #1 (Strong Buy) at present, and BWX Technologies and Innodata carry a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
KT shares have gained 9.2% year to date. KT is set to report its fourth-quarter 2024 results on Feb. 13.
BWX Technologies shares have returned 0.4% year to date. BWXT is set to post fourth-quarter 2024 results on Feb. 24.
Innodata shares have gained 7.5% year to date. INOD is set to report fourth-quarter fiscal 2024 results on Feb. 20.