DoorDash, Inc. stock research
FY2023 Q1
DoorDash (DASH) Gross Margin — Quarter Ended Mar 31, 2023
Revenue increased relative to both the prior quarter and the same quarter one year earlier, with gross profit also rising in both comparisons. Gross margin improved from the immediately preceding quarter but weakened versus the year-ago period.
Gross margin takeaway
Quarter ended Mar 31, 2023 · FY2023 Q1
Revenue increased relative to both the prior quarter and the same quarter one year earlier, with gross profit also rising in both comparisons. Gross margin improved from the immediately preceding quarter but weakened versus the year-ago period.
- The gross margin improvement from the prior quarter was accompanied by a revenue increase that outpaced the cost of revenue increase, while the year-over-year margin decline reflects cost of revenue rising at a faster pace than revenue.
- Compared with the immediately preceding quarter, gross margin improved as revenue grew more than cost of revenue. Versus the same quarter one year earlier, gross margin weakened, with cost of revenue growing faster than revenue.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
43.0%
Gross profit
$876.0M
Revenue
$2.0B
Cost of revenue
$1.2B
Quarter-over-quarter change
n/a
Year-over-year change
-0.7 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Mar 31, 2023 | $2.0B | $876.0M | $1.2B | 43.0% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Previous quarter unavailable
n/a
Year-over-year change
Mar 31, 2022
-0.7 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The gross margin improvement from the prior quarter was accompanied by a revenue increase that outpaced the cost of revenue increase, while the year-over-year margin decline reflects cost of revenue rising at a faster pace than revenue.
Compared with the immediately preceding quarter, gross margin improved as revenue grew more than cost of revenue. Versus the same quarter one year earlier, gross margin weakened, with cost of revenue growing faster than revenue.
Monitor the rate of cost of revenue growth relative to revenue growth in upcoming quarters, as year-over-year margin compression suggests cost increases are outpacing revenue gains.