DoorDash, Inc. stock research
FY2024 Q2
DoorDash (DASH) Gross Margin — Quarter Ended Jun 30, 2024
Revenue and gross profit both increased compared to the prior quarter and the same quarter last year. Cost of revenue also rose over both periods, while gross margin improved slightly from the prior quarter and was higher than the year-ago level.
Gross margin takeaway
Quarter ended Jun 30, 2024 · FY2024 Q2
Revenue and gross profit both increased compared to the prior quarter and the same quarter last year. Cost of revenue also rose over both periods, while gross margin improved slightly from the prior quarter and was higher than the year-ago level.
- Gross margin showed a modest sequential improvement and was also higher compared to the same quarter a year earlier. The increase in gross profit was proportionally larger than the increase in cost of revenue relative to the prior quarter, supporting the margin gain.
- Compared to the immediately preceding quarter, revenue and gross profit were higher, while cost of revenue also increased; gross margin improved but remained within a narrow range. Versus the same quarter one year earlier, revenue and gross profit were higher, cost of revenue was higher, and gross margin was marginally higher.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
43.2%
Gross profit
$1.1B
Revenue
$2.6B
Cost of revenue
$1.5B
Quarter-over-quarter change
+0.5 pts
Year-over-year change
+0.8 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 |
|---|---|---|---|---|
| Sep 30, 2023 | $2.2B | $910.0M | $1.3B | 42.1% |
| Dec 31, 2023 | $2.3B | $974.0M | $1.3B | 42.3% |
| Mar 31, 2024 | $2.5B | $1.1B | $1.4B | 42.7% |
| Jun 30, 2024 | $2.6B | $1.1B | $1.5B | 43.2% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Mar 31, 2024
+0.5 pts
Year-over-year change
Jun 30, 2023
+0.8 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
Gross margin showed a modest sequential improvement and was also higher compared to the same quarter a year earlier. The increase in gross profit was proportionally larger than the increase in cost of revenue relative to the prior quarter, supporting the margin gain.
Compared to the immediately preceding quarter, revenue and gross profit were higher, while cost of revenue also increased; gross margin improved but remained within a narrow range. Versus the same quarter one year earlier, revenue and gross profit were higher, cost of revenue was higher, and gross margin was marginally higher.
Monitor the trajectory of cost of revenue relative to revenue, as cost of revenue grew in both comparisons and directly affects gross margin sustainability.