DoorDash booked a record number of orders in the Q2 even as its revenue growth slowed from a pandemic-induced high, according to a press release by DoorDash on Thursday.
- The San Francisco-based delivery company’s total orders rose 69% YoY to $345 million in the second quarter, driven by increased average order frequency, new customer growth, and an increase in drive orders.
- Marketplace GOV grew 70% YoY to $10.5 billion. The average orders in Q2 matched Q1 in number and remained above the pre-COVID levels.
- The adjusted gross profit soared 96% in Q2 from the same period last year to $700 million. Dasher supply was the primary driver of the adjusted gross profit as a percentage of the marketplace GOV.
- Online food delivery firm’s adjusted EBITDA reached $113 million in Q2. The quarterly increment in adjusted EBITDA was driven by the growth in contribution profit from US marketplace orders, partially offset by the increased investment in international markets and new offerings.
The company forecasts a seasonal decline in new consumer acquisition and order rates in the third quarter. DoorDash also anticipates continued investment in new categories, international markets, and platform services. DASH down -3.83%, pre-market trading.