DASH · 10-Q · 2026Q3 · Full report

Operating Margin Drivers

DoorDash, Inc. · 2026-10-30 · Importance 64 · Surprise 56

Third-quarter net revenue margin decreased to 13.6% from 13.8%, primarily due to the Deliveroo acquisition. Consumer fees as a percentage of Marketplace GOV declined, partly offset by increased advertising revenue contribution and lower discounts and promotions as a percentage of Marketplace GOV. Contribution Profit increased to $1.780 billion from $1.268 billion, while Contribution Margin declined to 38.6% from 36.8% as a percentage of revenue; growth in revenue was partly offset by higher cost of revenue and sales and marketing expenses.

Key facts

• Contribution Profit increased to $1.8 billion in the third quarter of 2026 from $1.3 billion in the third quarter of 2025, primarily driven by revenue growth and partially offset by increased cost of revenue and sales and marketing expenses. source
• Adjusted EBITDA increased to $1.1 billion in the third quarter of 2026 from $754 million in the third quarter of 2025, primarily driven by Contribution Profit growth and partially offset by increases in adjusted research and development and adjusted general and administrative expenses. source