USA | DoorDash has announced its financial results for Q2 2024, outlining significant growth in revenue.
In Q2 2024, DoorDash set new quarterly records for Total Orders, Marketplace GOV, and revenue, with year-over-year (Y/Y) growth in revenue that exceeded Y/Y growth in Marketplace GOV for the tenth consecutive quarter.
The aim for DoorDash was to build a large and durable business by building services that expand the potential of local commerce. Its core competencies in that pursuit are customer obsession, attention to detail, and effort.
DoorDash said in a statement that it was very pleased with its financial performance in Q2 2024, as it reflected years of investment and product-level focus that drove strong growth and improved unit economics in several major areas of its business. The brand was able to drive more sales to more merchants than ever before, generate more earnings opportunities for Dashers than ever before, and connect more DashPass members to more of the local merchants they love than ever before.
Total Orders increased 19 percent Y/Y to 635 million and Marketplace GOV increased 20 percent Y/Y to USD 19.7 billion. Revenue increased 23 percent Y/Y to USD 2.6 billion and Net Revenue Margin increased to 13.3 percent from 13.0 percent in Q2 2023. GAAP net loss, including redeemable non-controlling interests, was USD 158 million compared to USD 172 million in Q2 2023, and Adjusted EBITDA increased to USD 430 million from USD 279 million in Q2 2023.
"Over the last year, we have added important new merchants to our U.S. marketplace in the grocery, beauty, home improvement, alcohol, and sporting goods categories. Our goal across all of these categories is to provide our merchant partners with world-class logistics, demand generation, digital ordering, and consumer service capabilities," DoorDash said in a statement.
"In doing so, we hope to fuel local commerce by enabling consumers to connect with the local merchants they love with low friction, delightful speed, and excellent service."
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