Doordash (DASH) Q4 2025 earnings

Door PanelShares rose 14% in extended trading Wednesday, recovering from an initial decline following the food delivery platform’s disappointing announcement fourth quarter results and guidance.

Following the release of the company’s financials, the stock lost 10% of its value.

The company’s performance according to LSEG forecasts is as follows:

• Earnings per share: $0.59 Estimate with 59 cents expected versus 48 cents.
• Revenues: $3.96 billion and $3.99 billion Est.

Revenue for the period increased 38% from approximately $2.87 billion last year.

The company said total orders increased 32% year over year to 903 million, while market gross order value, which tracks the total dollar value of orders, increased 39% to $29.7 billion.

Estimates fell significantly following the company’s disappointing third-quarter results.

On the analyst call, CEO Tony Xu expressed confidence in the company’s investments and praised the strong performance of British food delivery platform Deliveroo, which it acquired last year, and said it was growing much faster with the same profits.

In a letter to shareholders, Xu said Doordash is actively developing new products and systems to improve user experiences.

One of those projects involves creating a single platform integrating Doordash, Deliveroo and Wolt, which he describes as a “huge and expensive undertaking.”

“We could have made our code base less malleable to incorporate AI,” he wrote. “These changes would have taken less time and cost much less to make. But they could have had disastrous consequences for customers.”

The company had forecast weak guidance for the first quarter, expecting adjusted EBITDA to be between $675 million and $775 million, versus StreetAccount’s forecast of $802 million.

Investors have been nervous about Doordash’s spending targets in recent months.

Last quarter, the company said it planned to devote “several hundred million dollars” to its global technology platform and initiatives such as autonomous delivery. The stock market had the worst day in its history.

At the time, Xu defended Doordash’s spending and said the company had a good track record of making business investments that support future growth.

Net income was $213 million, or 48 cents per share, compared to $141 million, or 33 cents per share, a year earlier.

The stock is already down more than 20% in 2026.