DoorDash, Inc. Class A Common Stock (DASH)

Inventory turnover

		Mar 31, 2025	Dec 31, 2024	Sep 30, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020
Cost of revenue (ttm)	US$ in thousands	5,852,000	5,682,000	5,458,000	5,240,000	4,850,000	4,589,000	4,374,000	4,149,000	3,894,000	3,588,000	3,209,000	2,863,000	2,538,000	2,338,000	2,172,000	1,969,000	1,737,000	1,368,000	1,069,000
Inventory	US$ in thousands	—	—	—	—	394,000	356,000	385,000	297,000	290,000	441,000	—	—	—	—	—	—	—	—	—
Inventory turnover		—	—	—	—	12.31	12.89	11.36	13.97	13.43	8.14	—	—	—	—	—	—	—	—	—

March 31, 2025 calculation

Inventory turnover = Cost of revenue (ttm) ÷ Inventory
= $5,852,000K ÷ $—K
= —

The inventory turnover ratio for DoorDash, Inc. Class A Common Stock exhibits a notable trend over the reported periods. Initially, during the fiscal years ending in 2020 and early 2021, the ratio was not available, indicating either the absence of inventory or lack of relevant data reporting. Starting from December 31, 2022, the ratio was recorded at 8.14, signaling the beginning of a measurable inventory management activity.

Subsequently, the inventory turnover increased significantly in the following quarters, reaching 13.43 by March 31, 2023, and slightly rising to 13.97 by June 30, 2023. This upward movement suggests an improvement in how efficiently the company is managing its inventory, implying a higher frequency of inventory being sold or utilized within the period.

The ratio declined somewhat to 11.36 by September 30, 2023, but remained relatively high in comparison to earlier periods. It then increased again, reaching 12.89 by December 31, 2023. The most recent data point available on March 31, 2024, shows a ratio of 12.31, maintaining a level indicative of efficient inventory turnover.

Overall, the pattern indicates a period of accelerated inventory activity starting late 2022, with the ratios stabilizing at relatively high levels in 2023. The data reflects improved inventory management efficiency in recent reported periods, although the absence of data prior to late 2022 prevents a comprehensive long-term trend assessment.