DoorDash, Inc. stock research
FY2025 Q2
DoorDash (DASH) Gross Margin — Quarter Ended Jun 30, 2025
Revenue and gross profit both increased compared to the previous quarter and the same quarter last year, while cost of revenue also rose. Gross margin improved relative to both prior periods, reflecting a higher proportion of revenue flowing through to gross profit.
Gross margin takeaway
Quarter ended Jun 30, 2025 · FY2025 Q2
Revenue and gross profit both increased compared to the previous quarter and the same quarter last year, while cost of revenue also rose. Gross margin improved relative to both prior periods, reflecting a higher proportion of revenue flowing through to gross profit.
- Gross profit grew faster than revenue, driving the gross margin higher. The reduction in cost of revenue as a share of revenue was the most apparent factor.
- Compared with the immediately preceding quarter, gross margin was slightly higher. Versus the same quarter one year earlier, gross margin was substantially higher, indicating a sustained improvement over the year.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
46.9%
Gross profit
$1.5B
Revenue
$3.3B
Cost of revenue
$1.7B
Quarter-over-quarter change
+0.4 pts
Year-over-year change
+3.7 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 |
|---|---|---|---|---|
| Sep 30, 2024 | $2.7B | $1.2B | $1.5B | 45.3% |
| Dec 31, 2024 | $2.9B | $1.3B | $1.6B | 45.6% |
| Mar 31, 2025 | $3.0B | $1.4B | $1.6B | 46.5% |
| Jun 30, 2025 | $3.3B | $1.5B | $1.7B | 46.9% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Mar 31, 2025
+0.4 pts
Year-over-year change
Jun 30, 2024
+3.7 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
Gross profit grew faster than revenue, driving the gross margin higher. The reduction in cost of revenue as a share of revenue was the most apparent factor.
Compared with the immediately preceding quarter, gross margin was slightly higher. Versus the same quarter one year earlier, gross margin was substantially higher, indicating a sustained improvement over the year.
Monitor the trend in cost of revenue relative to revenue, as its decline supported the margin improvement.