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DoorDash Inc (NYSE:DASH) reported mixed first quarter 2026 results, beating profit expectations but coming in slightly below revenue estimates, while underlying order growth and marketplace activity remained strong.
For the quarter ended March 31, DoorDash posted adjusted earnings per share of $0.42, ahead of analyst expectations of about $0.37.
Revenue totaled $4.04 billion, slightly below consensus estimates of roughly $4.15 billion.
Despite the revenue miss, the company highlighted strong operational performance across its platform. Marketplace gross order value (GOV) rose 37% year over year to $31.6 billion, while total orders increased 27% to 933 million.
Adjusted EBITDA climbed 28% year over year to $754 million, and GAAP net income attributable to common stockholders declined 5% to $184 million.
DoorDash pointed to continued strength in user engagement, including record membership signups and a new high in monthly active users.
The company also noted growth in both new consumer acquisition and order frequency among more established user cohorts in its US restaurant segment.
For the second quarter, the company expects marketplace GOV between $32.4 billion and $33.4 billion, with adjusted EBITDA projected in the range of $770 million to $870 million.
DoorDash reiterated its expectation that full-year 2026 adjusted EBITDA margin will increase slightly compared with 2025, excluding Deliveroo’s contribution.
The company also said it expects more than $50 million in gross costs related to its Dasher gas relief program in the second quarter, which it plans to partially offset by adjusting investments in other areas.
Shares of DoorDash added 0.5% at about $169 following the report.