5 Essential Analyst Inquiries From DoorDash’s Fourth Quarter Earnings Call

DoorDash Q4 Results: Key Takeaways

DoorDash’s fourth-quarter earnings were well received by investors, even though both revenue and adjusted profits came in just under analyst forecasts. Company leadership credited the quarter’s momentum to ongoing growth in areas beyond restaurants, such as grocery and retail, and emphasized that high user activity played a major role. CEO Tony Xu noted that approximately 30% of customers are now placing orders outside the restaurant sector, highlighting the company’s successful efforts to diversify. International operations, including the integration of Deliveroo and Wolt, fueled faster expansion abroad, while enhancements in unit economics further strengthened overall results.

Should You Consider Buying DoorDash Stock?

Curious if now is the right time to invest in DASH?

Q4 2025 Financial Highlights

• Revenue: $3.96 billion, slightly below the $4.00 billion expected by analysts (37.7% year-over-year growth, 1.1% shortfall)
• Adjusted EPS: $1.27, missing estimates of $1.29 (1.4% below expectations)
• Adjusted EBITDA: $780 million, surpassing projections of $773.6 million (19.7% margin, 0.8% above forecast)
• Q1 2026 EBITDA Guidance: $725 million at the midpoint, lower than the $800.4 million anticipated by analysts
• Operating Margin: 3.7%, consistent with the same period last year
• Total Orders: 903 million, an increase of 218 million compared to the previous year
• Market Cap: $71.41 billion

While management’s prepared remarks are always insightful, the unscripted analyst Q&A often reveals the most interesting details—sometimes surfacing challenging topics or complex issues. Here are the questions that stood out this quarter:

Top 5 Analyst Questions from the Q4 Earnings Call

• Shweta Khajuria (Wolfe Research): Asked about competition in Europe and the sustainability of technology investments through 2027. CEO Tony Xu reaffirmed DoorDash’s strong position in major European markets and ongoing investment plans, while CFO Ravi Inukonda explained that tech spending is expected to decrease after 2026.
• Michael Morton (MoffettNathanson): Inquired about the effects of longer-distance deliveries and the development of new business lines. Xu discussed the role of DashMart Fulfillment Services and the increasing complexity of grocery and retail orders, with Inukonda noting improvements in unit economics for these segments.
• Nikhil Devnani (Bernstein): Asked how DoorDash is preparing for a future shaped by AI-driven commerce. Xu highlighted the company’s strengths in delivering a seamless customer experience and its openness to collaborating with AI channel partners.
• Deepak Mathivanan (Cantor Fitzgerald): Sought insight into the long-term vision for autonomous delivery and reasons for slower unit economics improvement in the U.S. restaurant segment. Xu described the strategy for integrating both human and autonomous vehicles, while Inukonda attributed margin trends to the growing influence of DashPass.
• Josh Beck (Raymond James): Requested updates on the integration of Deliveroo and the benefits of modernizing the technology platform. Xu pointed to the swift adoption of DoorDash best practices at Deliveroo and noted that consolidating technology systems is already accelerating product rollouts globally.

Looking pipeline: What’s Next for DoorDash?

In the quarters ahead, analysts will be monitoring several key factors: the speed and effectiveness of technology platform consolidation, further adoption and profitability in non-restaurant categories, and the ongoing integration and performance of Deliveroo and Wolt. Progress in autonomous delivery and the expansion of advertising solutions will also be important indicators of DoorDash’s ability to achieve its strategic goals.

Currently, DoorDash shares are trading at $164.70, down from $173.38 prior to the earnings release. Is this a buying opportunity or a signal to sell?

Top Stock Picks for Today’s Market

Building a portfolio based on outdated trends can be risky—especially as crowding in popular stocks increases. The next generation of high-growth companies can be found in our Top 6 Stocks for This Week. This handpicked selection of High Quality stocks has delivered a remarkable 244% return over the past five years (as of June 30, 2025).

Among these top performers are well-known names like Nvidia, which soared 1,326% from June 2020 to June 2025, as well as lesser-known companies such as Comfort Systems, which achieved a 782% five-year return. Discover your next potential winner with StockStory today.