DASH · Earnings call · 2026Q2T · Full report

Subscription-Led Marketplace Engagement

DoorDash, Inc. · 2026-08-05 · Importance 58 · Surprise 48

DashPass and Wolt+ subscription adoption is supporting restaurant and international marketplace growth through higher retention, order frequency and customer spending. DoorDash added more paid DashPass subscribers in the last year than in the prior two years combined, with U.S. paid subscriber growth among its strongest in the last two years. Mature cohorts are engaging more, while improved selection, quality and affordability are increasing the value of the subscription. In the U.K. and Wolt markets, subscription growth is accompanying share gains and higher order rates over three- to six-month periods.

Key facts

• DoorDash added more paid DashPass subscribers in the last year than in the two prior years, and paid subscriber growth in DashPass was one of the highest they've seen in the last couple of years.
• In Q2, paid DashPass subscriber growth in the U.S. was one of the highest DoorDash has seen in the last two years.
• Management reported demand trends remain quite strong with MAUs at all-time highs across the board and subscription growth domestically and internationally among the highest in the last few years.
• DoorDash used a January 2021 cohort in the letter to show trends of consumer spend increasing on restaurants and new verticals while DashPass penetration rises.