DoorDash (DASH) FY2025 10-K Annual Report
DoorDash (DASH) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on Feb 18, 2026. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
DoorDash FY2025 10-K Analysis
Business Overview
- • Core business model: Operates Marketplaces (DoorDash, Wolt, Deliveroo) primarily for local commerce connecting merchants, consumers, and Dashers globally
- • New emphasis on Commerce Platform services including white-label delivery ("Drive") and tools for merchants' direct online operations
Management Discussion & Analysis
- • Revenue $13.7B, up 28% YoY ($2.995B increase), faster growth than Marketplace GOV $102.0B, up 27% YoY
- • Operating margin 5.3% (income from operations $723M on $13.7B revenue) vs -0.4% in prior year
Risk Factors
- • Regulatory risk of Dasher reclassification as employees under U.S. federal/state law, potentially causing material adverse effects on business and financial condition
- • Macroeconomic risk from adverse economic conditions reducing consumer spending and merchant operations affecting revenue
DoorDash FY2025 Key Financial MetricsXBRL
Revenue
$13.7B
▲ +27.9% YoY
Net Income
$935M
▲ +660.2% YoY
Operating Margin
5.3%
▲ +563bp YoY
Net Margin
6.8%
▲ +567bp YoY
ROE
9.3%
▲ +774bp YoY
Total Assets
$19.7B
▲ +53.0% YoY
EPS (Diluted)
$2.13
▲ +634.5% YoY
Operating Cash Flow
$2.4B
▲ +14.0% YoY
Source: XBRL data from DoorDash FY2025 10-K filing on SEC EDGAR. All figures in USD.
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