DoorDash, Inc. Class A Common Stock (DASH)

Gross profit margin

		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
Gross profit (ttm)	US$ in thousands	5,389,000	5,040,000	4,694,000	4,370,000	4,263,000	4,046,000	3,776,000	3,538,000	3,268,000	2,995,000	2,856,000	2,776,000	2,729,000	2,550,000	2,386,000	2,193,000	1,864,000	1,518,000	1,145,000
Revenue (ttm)	US$ in thousands	11,241,000	10,722,000	10,152,000	9,610,000	9,113,000	8,635,000	8,150,000	7,687,000	7,162,000	6,583,000	6,065,000	5,639,000	5,267,000	4,888,000	4,558,000	4,162,000	3,601,000	2,886,000	2,214,000
Gross profit margin		47.94%	47.01%	46.24%	45.47%	46.78%	46.86%	46.33%	46.03%	45.63%	45.50%	47.09%	49.23%	51.81%	52.17%	52.35%	52.69%	51.76%	52.60%	51.72%

March 31, 2025 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $5,389,000K ÷ $11,241,000K
= 47.94%

The gross profit margin for DoorDash, Inc. Class A Common Stock has demonstrated fluctuations over the period from September 30, 2020, through March 31, 2025. Initially, the margin was approximately 51.72% as of September 2020 and showed a slight upward trend, reaching its peak of 52.69% at June 30, 2021. During this time, the gross profit margin remained relatively stable within the range of approximately 51.7% to 52.7%, indicating consistent profitability on gross terms during this period.

Subsequently, a downward trend commenced, with the margin decreasing to 49.23% by June 30, 2022, and further declining to 45.50% by December 2022. This decline continued into early 2023, with the margin settling around 45.63% as of March 31, 2023.

Between March 2023 and September 2024, the gross profit margin exhibited marginal recovery, increasing from approximately 45.63% to a peak of roughly 47.94% as of March 2025. Notably, over this period, the margin fluctuated within a constrained range—generally oscillating between the low to mid-40s—and showed signs of stabilization towards the latter part of the period after the decline observed in 2022.

In summary, the gross profit margin for DoorDash has experienced a gradual overall decline from its initial high of over 52% in mid-2021, followed by a period of contraction into the low 40s in late 2022 and early 2023. The margin has since shown incremental recovery, trending upward to nearly 48% by March 2025. This pattern reflects possible shifts in cost structure, revenue composition, or competitive pressures impacting gross profitability in recent years.