DoorDash, Inc. stock research
FY2026 Q1
DoorDash (DASH) Gross Margin — Quarter Ended Mar 31, 2026
Revenue remained stable quarter over quarter while rising year over year, and gross profit followed a similar pattern. Gross margin weakened slightly from the previous quarter but improved compared to the same quarter last year.
Gross margin takeaway
Quarter ended Mar 31, 2026 · FY2026 Q1
Revenue remained stable quarter over quarter while rising year over year, and gross profit followed a similar pattern. Gross margin weakened slightly from the previous quarter but improved compared to the same quarter last year.
- The relationship among revenue, cost of revenue, and gross profit was consistent, with cost of revenue increasing proportionally to revenue year over year, leading to a modest gross margin improvement. Quarter over quarter, cost of revenue remained flat while revenue was unchanged, causing a slight dip in gross margin.
- Compared to the previous quarter, gross margin was slightly lower, while compared to the same quarter a year ago, it was higher. Revenue and gross profit were stable sequentially and increased year over year.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
46.8%
Gross profit
$1.9B
Revenue
$4.0B
Cost of revenue
$2.1B
Quarter-over-quarter change
-0.4 pts
Year-over-year change
+0.3 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 |
|---|---|---|---|---|
| Jun 30, 2025 | $3.3B | $1.5B | $1.7B | 46.9% |
| Sep 30, 2025 | $3.4B | $1.6B | $1.8B | 47.2% |
| Dec 31, 2025 | $4.0B | $1.9B | $2.1B | 47.2% |
| Mar 31, 2026 | $4.0B | $1.9B | $2.1B | 46.8% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Dec 31, 2025
-0.4 pts
Year-over-year change
Mar 31, 2025
+0.3 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The relationship among revenue, cost of revenue, and gross profit was consistent, with cost of revenue increasing proportionally to revenue year over year, leading to a modest gross margin improvement. Quarter over quarter, cost of revenue remained flat while revenue was unchanged, causing a slight dip in gross margin.
Compared to the previous quarter, gross margin was slightly lower, while compared to the same quarter a year ago, it was higher. Revenue and gross profit were stable sequentially and increased year over year.
Monitor whether gross margin can stabilize or improve in the coming quarters given the slight sequential decline.
Peer context
Latest available gross margins for related public companies.
| Company | Gross margin |
|---|---|
| DoorDash, Inc. (DASH) | 46.8% |