DASH · 10-Q · 2026Q3 · Full report

Liquidity and Debt Position

DoorDash, Inc. · 2026-10-30 · Importance 37 · Surprise 6

At September 30, 2026, cash, cash equivalents, and investments totaled $6.8 billion, comprising $5.1 billion of cash and cash equivalents, $929 million of short-term investments, and $805 million of long-term investments; an additional $660 million was held at payment processors. The company had a $2.0 billion unsecured revolving credit facility maturing August 5, 2031, with no revolving loans outstanding and $327 million of letters of credit issued. DoorDash was in compliance with the facility covenants, including a maximum senior net leverage ratio of 3.50 to 1.00, and reported $2.75 billion aggregate principal amount of 0% convertible senior notes due 2030 issued in May 2025. Management said existing cash, investments, and available revolving borrowings were expected to cover working capital and capital expenditure needs for at least the next 12 months and beyond.

Key facts

• JPMorgan committed to provide DoorDash a 364-day senior unsecured bridge term loan facility of up to $13.0 billion, subject to customary conditions being satisfied or waived. source
• DoorDash entered into a $2.0 billion unsecured revolving credit facility, amended and restated on August 5, 2026, that matures on August 5, 2031 and has an $800 million letter-of-credit sublimit. source
• DoorDash issued $2.75 billion aggregate principal amount of 0% Convertible Senior Notes due 2030 in May 2025 and intended to use the net proceeds for general corporate purposes. source
• For the first nine months of 2025, DoorDash provided $2.4 billion of cash from financing activities, including $2.7 billion from issuance of the 2030 Notes and $341 million from issuance of warrants. source
• As of September 30, 2026, DoorDash had $6.8 billion in cash, cash equivalents, and investments, consisting of $5.1 billion in cash and cash equivalents, $929 million in short-term investments, and $805 million in long-term investments. source
• For the first nine months of 2026, DoorDash received $1.0 billion from maturities and sales of marketable securities and $9 million from other investing activities. source
• For the first nine months of 2025, DoorDash purchased $5 million of non-marketable equity securities and received $1.5 billion from maturities and sales of marketable securities. source
• For the first nine months of 2025, DoorDash received $8 million from stock-option exercises and spent $680 million on convertible note hedges and $10 million on other financing activities. source