DoorDash reported second-quarter revenue of $4.5 billion on Wednesday, up 36% year-over-year, and raised its outlook for the current quarter.
Adjusted EBITDA reached $914 million in the second quarter, up 40% from the same period a year earlier and, the company said, “well above” its own expectation. For the third quarter, DoorDash is guiding for Marketplace gross order value of $33 billion to $34 billion and adjusted EBITDA of $950 million to $1.1 billion.
Total orders grew 27% year-over-year to 970 million in the quarter, while Marketplace GOV — the total dollar value of orders on its platforms — rose 36% to $33.1 billion. Excluding the contribution of Deliveroo, which DoorDash acquired, revenue grew 24% and Marketplace GOV grew 23%.
GAAP net income attributable to DoorDash common stockholders fell 30% year-over-year to $200 million, down from $285 million in the second quarter of 2025. Research and development expenses rose 52% year-over-year to $535 million, while general and administrative expenses climbed 39% to $538 million.
Free cash flow for the quarter came in at $742 million, more than double the $355 million generated in the second quarter of 2025. The company also said it has repurchased 6.8 million shares of its Class A common stock for $1.05 billion under a $5 billion buyback authorization approved in February 2025, leaving approximately $3.95 billion remaining under that program.
DoorDash said U.S. paid DashPass membership grew more in the 12 months through the second quarter than it had over the previous 24 months combined. DashPass members placed approximately 75% of total orders in the company’s U.S. grocery and retail categories during the quarter. The company also said reservations booked through its marketplaces increased more than 150% quarter-over-quarter, following its expansion of restaurant reservation services using its SevenRooms platform.
On the technology front, DoorDash said it recently earned Part 135 air carrier certification from the Federal Aviation Administration for its DoorDash Air drone delivery program. Its land-based delivery robot, Dot, is expected to handle a high single-digit percentage of orders in its largest test market by year-end. The company said it expects its new global technology platform to be fully rolled out in the first half of 2027.
For the second half of 2026, the company said adjusted EBITDA as a percentage of Marketplace GOV is expected to follow a pattern similar to the second half of 2025, with a quarter-over-quarter increase in the third quarter followed by a decline in the fourth quarter, driven by seasonal increases in Dasher costs, higher insurance expenses, and growing investment in its technology platform and autonomy initiatives.
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