DoorDash shares fell 9% on Thursday after the company reported third-quarter earnings that missed analyst expectations and said it plans to spend “several hundred million dollars” on new projects and development in 2026.
According to LSEG estimates, the company reported earnings of 55 cents per share, below the 69 cents per share expected, though revenue came in slightly higher at $3.45 billion, compared to $3.36 billion projected.
DoorDash’s net income rose to $244 million, or 55 cents per share, from $162 million, or 38 cents per share, a year earlier. Revenue increased 27% year over year, and total orders grew 21% to 776 million for the quarter ending September 30, just above analyst expectations of 770.13 million, according to FactSet.
In its earnings release, the company explained the increased spending by comparing its growth strategy to nurturing maturity through investment. “We wish there was a way to grow a baby into an adult without investment, or to see the baby grow into an adult overnight, but we do not believe this is how life or business works,” DoorDash wrote.
The company said its new global tech platform, which progressed in 2025, will accelerate in 2026, with both direct and opportunity costs expected in the near term. DoorDash also referenced the Dot autonomous delivery robot, unveiled in September, as part of its broader technology expansion.
Looking ahead, DoorDash expects adjusted EBITDA for the fourth quarter to range between $710 million and $810 million, with a midpoint of $760 million — slightly below FactSet’s estimate of $806.8 million.
On October 2, the company closed its $3.9 billion acquisition of British food delivery firm Deliveroo. DoorDash expects Deliveroo to contribute about $45 million to adjusted EBITDA in the fourth quarter and around $200 million in 2026.
For the fiscal year, DoorDash anticipates $700 million in depreciation and amortization expenses, excluding the acquisition, and $1.1 billion in stock-based compensation for fiscal 2025.
Featured image credits: Unsplash
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