Last Updated -
June 16, 2026
Explore the business model, global strategy, and market performance including insights into its position in China.
DoorDash, Inc. is a local commerce platform founded in 2013 and headquartered in San Francisco, California. The company is best known for restaurant delivery, where it connects merchants, consumers, and Dashers through its marketplace. Its main offerings include DoorDash Marketplace, Wolt Marketplace, Deliveroo Marketplace, and a Commerce Platform that provides white-label delivery, digital ordering, branded apps, reservations, in-store dining tools, customer relationship tools, and support services.
DoorDash has developed from a U.S. restaurant delivery service into a broader local commerce company covering grocery, convenience, retail, advertising, merchant software, and international food delivery. The acquisitions of Wolt and Deliveroo expanded its international reach, and after the Deliveroo deal the company said its marketplaces operate in more than 40 countries. DoorDash earns revenue mainly from merchant transaction fees, consumer fees, membership programs such as DashPass, Wolt+, and Deliveroo Plus, advertising, and merchant services.
The company’s strategic purpose is to grow local commerce by increasing selection, improving delivery logistics, and giving merchants more ways to reach and serve customers. In Q1 2026, DoorDash reported 933 million total orders, up 27% year over year, Marketplace GOV of $31.6 billion, up 37%, and revenue of $4.0 billion, up 33%. GAAP net income attributable to common stockholders was $184 million, while Adjusted EBITDA was $754 million and free cash flow was $420 million. DoorDash remains the leading U.S. restaurant delivery platform by widely cited third-party market-share estimates, while its newer categories and international marketplaces are increasingly important to its scale.
DoorDash is a local commerce platform that connects merchants, consumers, and couriers through marketplace apps and merchant software. The company is best known for restaurant delivery, but its model now spans grocery, retail, convenience, advertising, reservations, white-label delivery, and digital commerce tools. After the Deliveroo acquisition, DoorDash says its marketplaces operate in over 40 countries through DoorDash, Wolt, and Deliveroo.
DoorDash makes money mainly from transaction fees charged to merchants, consumer fees, membership programs, advertising, and merchant services. Its core economic engine is Marketplace Gross Order Value, or GOV, which measures the total dollar value of completed marketplace orders including taxes, tips, applicable consumer fees, and membership fees. Commerce Platform order value is excluded from this metric.
In Q1 2026, DoorDash processed 933 million total orders, up 27% year over year. Marketplace GOV rose 37% to $31.604 billion, with growth of 24% excluding Deliveroo. Revenue increased 33% to $4.036 billion, or 21% excluding Deliveroo. Adjusted EBITDA was $754 million, equal to 2.4% of Marketplace GOV, while GAAP net income attributable to common stockholders was $184 million.
DoorDash’s key operating segments are organized around its marketplaces and merchant commerce services rather than a single restaurant-delivery product. The company’s product categories include prepared food, grocery, convenience, retail, apparel, auto parts, merchant fulfillment, reservations, and advertising. This broadening matters because it increases use cases, order frequency, and merchant dependency on the platform.
DoorDash’s main competitive advantage is marketplace scale. A denser network of merchants, consumers, and couriers improves selection, delivery speed, routing efficiency, and demand generation. The company also benefits from strong U.S. consumer adoption, growing membership programs, wider non-restaurant selection, and a global technology platform being rolled across DoorDash, Wolt, and Deliveroo.
DoorDash is the leading U.S. restaurant delivery platform by commonly cited third-party market-share estimates. Uber Eats is its closest scaled U.S. competitor, while Grubhub is smaller. Compared with Uber Eats, DoorDash is more concentrated in local commerce and food delivery, while Uber Eats sits inside Uber’s broader mobility and delivery ecosystem. DoorDash’s narrower focus gives it clearer exposure to delivery and merchant commerce growth, while Uber has greater cross-platform scale from ridesharing.
Internationally, DoorDash’s position has expanded through Wolt and Deliveroo. Deliveroo added exposure to markets including the U.K., France, and Italy, while Wolt remains central to DoorDash’s non-U.S. platform. In Q1 2026, DoorDash said Deliveroo’s monthly active users, orders, and Marketplace GOV growth accelerated year over year in the U.K., France, and Italy, supporting its role as a major international scale driver.
The company’s market position is strongest in U.S. restaurant delivery, but its growth strategy is broader. U.S. grocery and retail categories delivered strong year-over-year Marketplace GOV growth in Q1 2026, with record new consumers, improved quality metrics, and expanded selection in areas such as apparel and auto parts. DoorDash also said it more than doubled the sales it drives to U.S. restaurant partners over the last five years.
China is not a meaningful disclosed operating market for DoorDash. Its international exposure is concentrated in markets reached through Wolt and Deliveroo rather than mainland China. For investors, the more relevant competitive comparison is with Uber Eats globally and with local delivery platforms in each international market.
China is not a meaningful operating market for DoorDash. Its 2025 annual report and Q1 2026 materials did not identify China or Hong Kong as operating markets, and the company does not disclose China revenue, users, merchants, couriers, stores, or market share. DoorDash’s geographic focus is the United States and a wider international footprint built through Wolt and Deliveroo, which together extend the marketplace across more than 40 countries. In Q1 2026, DoorDash reported 933 million total orders, Marketplace GOV of $31.6 billion, and revenue of $4.0 billion. Its local strategy centers on U.S. restaurant leadership, grocery and retail expansion, DashPass adoption, merchant advertising, and white-label commerce tools. Main competitors are Uber Eats and Grubhub in the U.S., with local delivery platforms competing in Wolt and Deliveroo markets.
DoorDash entered 2026 with strong top-line momentum and a larger international footprint after closing the Deliveroo acquisition in October 2025. In Q1 2026, Total Orders rose 27% year over year to 933 million, Marketplace GOV rose 37% to $31.6 billion, and revenue rose 33% to $4.0 billion. Excluding Deliveroo, Marketplace GOV increased 24% and revenue increased 21%, showing that the underlying business was still growing at a healthy rate. Profitability was positive but less linear: GAAP net income attributable to common stockholders was $184 million, down from $193 million a year earlier and $213 million in Q4 2025, while Adjusted EBITDA rose 28% to $754 million.
DoorDash’s near-term outlook remains growth-oriented. For Q2 2026, management guided to Marketplace GOV of $32.4 billion to $33.4 billion and Adjusted EBITDA of $770 million to $870 million. The company also expected full-year 2026 Adjusted EBITDA as a percentage of Marketplace GOV to rise slightly versus 2025, excluding Deliveroo in both periods, with Deliveroo contributing about $200 million of 2026 Adjusted EBITDA. The central question for investors is whether DoorDash converts broader category reach, international scale, and merchant software into durable profit growth while managing regulatory exposure and integration complexity.
Next Earnings Planned for:
May 6, 2026
This Company Profile was written by Dominik Diemer
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