DoorDash stock rises 14% after Q4 report

DoorDash’s stock rose 14% in after-hours trading on February 18, after falling 10% earlier following the release of its Q4 earnings and guidance.

The company reported revenue of US$4.0 billion, up 38% year-on-year, and total orders increased 32% to 903 million.

Gross order value rose 39% to US$29.7 billion.

Earnings per share were 48 cents, below the 59 cents expected, while revenue slightly missed estimates.

CEO Tony Xu highlighted ongoing investments, including efforts to develop a unified platform integrating DoorDash, Deliveroo, and Wolt, which he described as a “massive” project.

The company forecast adjusted EBITDA between US$675 million and US$775 million for Q1, below analyst estimates.

Net income for the quarter was US$213 million, up from US$141 million a year earlier. The stock has declined over 20% in 2026 so far.

🔗 Source: CNBC

🧠 Food for thought

Implications, context, and why it matters.

The growth story extends beyond a single quarter

Strong Q4 results fit a longer pattern. DoorDash said Marketplace gross order value (GOV) growth sped up for the second straight quarter in Q3 2025 1.
DoorDash tied the lift to its U.S. restaurant business plus newer lines. It said year-over-year Marketplace GOV in U.S. restaurants rose faster in Q3 2025, reaching its highest growth rate in more than three years. It also reported faster year-over-year Marketplace GOV growth from U.S. new verticals in Q3 2025, including grocery, convenience, and retail delivery 1.
The main operation also ran more efficiently. Contribution profit as a share of Marketplace GOV increased to 5.1% in Q3 2025 from 4.6% 1.

The spending plan reflects a high-stakes bet on long-term platform expansion

DoorDash said a lower-than-expected profit outlook came from a choice to spend several hundred million dollars more in 2026. The plan covers new initiatives plus global platform development, including autonomous delivery initiatives (using self-driving vehicles or robots to deliver orders) 1.
In Q4 results commentary, CEO Tony Xu described work on one platform that combines DoorDash, Deliveroo, and Wolt. He called it a massive and expensive undertaking 2.
DoorDash said it expects to keep reporting as a single global entity. It also plans quarterly guidance for Marketplace GOV plus adjusted EBITDA (a profit metric that excludes some non-cash and one-time items) on a global basis as it expands beyond its U.S. marketplace 1.