The Investor
07 May 2026, 12:37
DoorDash Rockets 10% in Premarket as Growth Accelerates Across All Fronts
DoorDash is the most eye-catching premarket mover today, with shares surging 10% after the company posted a first quarter 2026 earnings report that demonstrated the delivery giant is firing on all cylinders. Record order volumes, an all-time high in monthly active users, and strong guidance for the quarter ahead gave investors plenty of reasons to bid the stock sharply higher before the opening bell.
Revenue for the quarter ended March 31, 2026 came in at $4.04 billion, a 33% increase year-over-year. Total orders grew 27% to 933 million, while Marketplace Gross Order Value — the broadest measure of spending flowing through the platform — surged 37% to $31.6 billion. The company also reported record membership signups during the quarter and a new high for monthly active users, underscoring the health of consumer demand on its platform even in a challenging macroeconomic environment.
Adjusted EBITDA reached $754 million, up 28% from $590 million in the same period a year ago. GAAP net income attributable to common stockholders came in at $184 million, a slight 5% decline year-over-year, though this was largely a function of elevated investment spending rather than any deterioration in the underlying business. The company generated $594 million in net cash from operating activities and $420 million in free cash flow during the quarter.
A significant part of the growth story this quarter was the contribution of Deliveroo, the international delivery platform DoorDash acquired. Excluding Deliveroo, total orders still grew 16% year-over-year, Marketplace GOV rose 24%, and revenue climbed 21% — solid organic growth rates that suggest the core business remains healthy independent of acquisition effects. Internationally, early integration work with Deliveroo is showing encouraging signs, with accelerated year-over-year growth in monthly active users, total orders, and Marketplace GOV across the UK, France, and Italy.
Domestically, momentum across both the restaurant and grocery and retail categories was strong. The grocery and retail segment attracted more new consumers in the first quarter than in any previous quarter, while DashPass membership growth accelerated on the back of stronger signups and lower churn. The company also expanded its Reservations product to Chicago and reported significant acceleration in new partner signs at SevenRooms, pointing to a broadening role for DoorDash beyond simple delivery.
Guidance for the second quarter was equally constructive. DoorDash projected Marketplace GOV of $32.4 billion to $33.4 billion and adjusted EBITDA of $770 million to $870 million. The wide EBITDA range reflects some uncertainty around the company's Dasher gas relief program, which is expected to cost over $50 million in gross terms during the quarter — a direct consequence of elevated fuel prices stemming from the ongoing Middle East conflict. For the full year, the company reiterated its expectation that adjusted EBITDA as a percentage of Marketplace GOV will increase slightly compared to 2025, excluding the impact of Deliveroo.
The 10% premarket surge reflects a market that sees DoorDash not merely as a food delivery company, but as an increasingly diversified commerce and logistics platform with genuine international scale and a membership flywheel that continues to strengthen with each passing quarter.
DoorDash is the most eye-catching premarket mover today, with shares surging 10% after the company posted a first quarter 2026 earnings report that demonstrated the delivery giant is firing on all cylinders. Record order volumes, an all-time high in monthly active users, and strong guidance for the quarter ahead gave investors plenty of reasons to bid the stock sharply higher before the opening bell.
Revenue for the quarter ended March 31, 2026 came in at $4.04 billion, a 33% increase year-over-year. Total orders grew 27% to 933 million, while Marketplace Gross Order Value — the broadest measure of spending flowing through the platform — surged 37% to $31.6 billion. The company also reported record membership signups during the quarter and a new high for monthly active users, underscoring the health of consumer demand on its platform even in a challenging macroeconomic environment.
Adjusted EBITDA reached $754 million, up 28% from $590 million in the same period a year ago. GAAP net income attributable to common stockholders came in at $184 million, a slight 5% decline year-over-year, though this was largely a function of elevated investment spending rather than any deterioration in the underlying business. The company generated $594 million in net cash from operating activities and $420 million in free cash flow during the quarter.
A significant part of the growth story this quarter was the contribution of Deliveroo, the international delivery platform DoorDash acquired. Excluding Deliveroo, total orders still grew 16% year-over-year, Marketplace GOV rose 24%, and revenue climbed 21% — solid organic growth rates that suggest the core business remains healthy independent of acquisition effects. Internationally, early integration work with Deliveroo is showing encouraging signs, with accelerated year-over-year growth in monthly active users, total orders, and Marketplace GOV across the UK, France, and Italy.
Domestically, momentum across both the restaurant and grocery and retail categories was strong. The grocery and retail segment attracted more new consumers in the first quarter than in any previous quarter, while DashPass membership growth accelerated on the back of stronger signups and lower churn. The company also expanded its Reservations product to Chicago and reported significant acceleration in new partner signs at SevenRooms, pointing to a broadening role for DoorDash beyond simple delivery.
Guidance for the second quarter was equally constructive. DoorDash projected Marketplace GOV of $32.4 billion to $33.4 billion and adjusted EBITDA of $770 million to $870 million. The wide EBITDA range reflects some uncertainty around the company's Dasher gas relief program, which is expected to cost over $50 million in gross terms during the quarter — a direct consequence of elevated fuel prices stemming from the ongoing Middle East conflict. For the full year, the company reiterated its expectation that adjusted EBITDA as a percentage of Marketplace GOV will increase slightly compared to 2025, excluding the impact of Deliveroo.
The 10% premarket surge reflects a market that sees DoorDash not merely as a food delivery company, but as an increasingly diversified commerce and logistics platform with genuine international scale and a membership flywheel that continues to strengthen with each passing quarter.