DoorDash (DASH) Q3 2026 Earnings Report
MX:DASH Q3 2026 EPS Results
- Actual EPS
- MXN 19.92
- Consensus EPS
- MXN 15.24
- Beat/Miss
- Beat by +MXN 4.68
- One Year Ago EPS
- MXN 10.34
MX:DASH Q3 2026 Revenue Results
- Actual Revenue
- MXN 86.74B
- Expected Revenue
- MXN 85.71B
- Beat/Miss
- Beat by +MXN 1.03B
- YoY Revenue Growth
- +33.95%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 10/29/2026
- Time
- Before Open
- Conference Call
- Thursday, October 29, 2026
MX:DASH Upcoming Earnings
DoorDash's next earnings date is estimated for February 18, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
MX:DASH Q3 2026 Earnings Call
0:00 / 0:00
Q3 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q3 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was strongly optimistic. Management reported record top- and bottom-line results, accelerating restaurant, new-vertical, and international growth, improving customer and cohort metrics, progress toward new-vertical gross-profit positivity, and a clear strategic rationale for the pending Instacart acquisition. The main challenges discussed were current grocery-delivery accuracy gaps, low third-party AI-agent volumes, and the remaining work associated with the pending transaction and technology integration.
Company Guidance
Management expects a multiyear path to $500 million or more in annual synergies net of investments, with over 100% of total synergies invested in year 1, progress in Year 2, and $500 million of incremental synergies to the bottom line in year 3, net of the investments that we plan to make; the overall new vertical portfolio is expected to be gross profit positive by the end of the year and is pretty close to being breakeven on a gross profit level, while the replatforming is expected to be done by the first half of 2027.
- Record Quarterly Performance and Accelerating GrowthTony Xu said the quarter delivered record highs in top line and bottom line, accelerating U.S. restaurant growth, continued fast growth in new verticals, and accelerating growth in international properties.
- U.S. Restaurant Marketplace MomentumThe restaurant business accelerated from Q2 to Q3, with Q3 sequential growth described as the fastest DoorDash has seen in the last 5-plus years. Overall U.S. restaurant growth has remained stable for the last 4 years.
- Core Product Improvements Supporting GrowthManagement attributed growth to reinvestment in the product, including improved selection and a better subscription offering. Order rate, order frequency, and basket sizes are increasing, while paid subscribers continue to set all-time records.
- New Verticals and International ExpansionNew verticals, including Wolt and Deliveroo, accelerated from Q2 to Q3. DoorDash said it has become a volume-share leader, and Tony Xu said Deliveroo grew in Q3 at twice the rate it did a year earlier before the acquisition.
- New Verticals Approaching Gross Profit BreakevenRavi Inukonda said the overall new-vertical portfolio is close to being breakeven on a gross-profit level and is expected to be gross-profit positive by the end of the year.
- Positive Cohort Trends in New VerticalsManagement said mature cohorts are using the platform more, returning more frequently, increasing basket sizes, and showing higher engagement. Similar signs of strength are emerging in newer cohorts, with MAUs and basket sizes increasing.
- Expanded Selection Including CostcoDoorDash added Costco to the platform, which management said was off to a great start. More DashPass subscribers are also using categories outside core restaurants, and that number continues to grow.
- Instacart Synergy TargetDoorDash expects a multiyear path to $500 million or more in annual synergies, net of investments, with Ravi Inukonda describing year 3 as the point at which the company expects to drive $500 million of incremental synergies to the bottom line.
- Revenue Synergy Opportunities From InstacartManagement identified cross-listing merchants and categories, listing DoorDash restaurants on Instacart, expanding consumer reach for CPG advertisers, increasing ad spend and ROAS, and cross-selling Instacart's first-party software and DoorDash's DashMart Fulfillment Services.
- Fulfillment and Operating Efficiency OpportunitiesThe combination is expected to increase Dasher and shopper density, driving fulfillment-network efficiency. Management also cited potential joint opportunities in sales and marketing, support, and other areas across the P&L.
- DashMarts Delivery Accuracy AdvantageDoorDash said deliveries fulfilled from DashMarts are near perfect, compared with accuracy in the low 90s for deliveries through third-party stores. Management said holding inventory and managing thousands of items for retail partners has demonstrated an ability to close this gap.
- Instacart Adds Demand Density and ScaleManagement said Instacart's unique demand and orders could add density to the last-mile network after closing, supporting faster delivery and lower cost throughout the system while helping DoorDash continue investing toward its grocery and retail product roadmap.
- Strategic Combination of Logistics and Retail SoftwareDoorDash described the combination as bringing together its logistics engine, demand-generation capabilities, DashMart Fulfillment Services, and marketplace expertise with Instacart's enterprise storefront platform and first-party software for grocers.
- Replatforming Program on TrackThe technology replatforming remains on track for both cost and timeline, with completion expected in the first half of 2027. Several modules are already live, traffic is flowing through the new stack, and management is seeing faster merchant onboarding and improving customer support in deployed areas.
- Replatforming Already Delivering Customer BenefitsDoorDash said the single-tech-stack work has produced faster merchant onboarding, better conversion from improved search, and better service-level agreements for support across audiences.
- Future Integration ReadinessManagement said the new infrastructure is being built to make future integrations easier, including adding new acquisitions, products, technologies, services, and AI-agent capabilities. DoorDash does not expect integrating Instacart onto the replatformed stack to require a massive investment.
- Continued Investment in Delivery InfrastructureDoorDash plans to build local infrastructure for last-mile delivery, including merchant software, new fulfillment models, warehousing capabilities, and logistics supported by autonomy investments in land vehicles and drones.
- DashMart Long-Term Expansion VisionManagement's DashMart vision is to use existing grocery-store infrastructure more productively, add more SKUs and items over time, manage warehouses and back-of-house capacity, and ultimately bring every store and everything inside a city to consumers in minutes.
- Positive Grocer and Consumer Value PropositionDoorDash expects a positive response from grocers because the combination could provide modern technology, fast delivery, added demand density, lower prices, greater selection, higher order quality and accuracy, and more sales. At the same DashPass price, consumers are expected to receive access to both the Instacart and DoorDash membership programs.
- Disciplined Capital AllocationRavi Inukonda said DoorDash remains focused on dilution, was comfortable with the cash-and-stock consideration for Instacart, and has not changed its buyback philosophy. The company intends to remain conservative and opportunistic, noting that prior buybacks generated a strong IRR.
- AI Product Development UnderwayDoorDash is developing its own AI experiences, including Ask DoorDash, Text DoorDash, and an MCP made available to third parties for use cases such as corporate lunch orders. Management expects to support consumer-preferred ordering methods and pursue win-win partnerships with third-party agents.
MX:DASH Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Feb 18, 2027 | 2026 (Q4) | 15.77- | 9.02 | ― | ― |
| Oct 29, 2026 | 2026 (Q3) | 15.2419.92 | 10.34 | 92.73% (+9.58) | |
| Aug 05, 2026 | 2026 (Q2) | 8.798.64 | 12.21 | -29.23% (-3.57) | |
| May 06, 2026 | 2026 (Q1) | 6.827.89 | 8.27 | -4.55% (-0.38) | |
| Feb 18, 2026 | 2025 (Q4) | 11.099.02 | 6.2 | 45.45% (+2.82) | |
| Nov 05, 2025 | 2025 (Q3) | 12.8310.34 | 7.14 | 44.74% (+3.19) | |
| Aug 06, 2025 | 2025 (Q2) | 8.2312.21 | -7.14 | 271.05% (+19.36) | |
| May 06, 2025 | 2025 (Q1) | 7.358.27 | -1.13 | 833.33% (+9.40) | |
| Feb 11, 2025 | 2024 (Q4) | 6.336.20 | -7.33 | 184.62% (+13.53) | |
| Oct 30, 2024 | 2024 (Q3) | 3.807.14 | -3.57 | 300.00% (+10.71) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat Missed
