DoorDash Inc (NASDAQ:DASH) reported fourth quarter and full fiscal year earnings after market close Wednesday. Here are the key highlights for investors.
What Happened: DoorDash reported fourth-quarter revenue of $1.3 billion, up 34% year-over-year. The total beat the consensus estimate of $1.28 billion, according to Benzinga Pro. DoorDash reported quarterly losses of 45 cents per share, which missed the consensus estimate of a 27-cent loss.
Total orders for the company hit 369 million, up 35% year-over-year. DoorDash hit a record for total orders and marketplace gross order volume in the fourth quarter.
Monthly active users hit a record 25 million, up 22% year-over-year. DashPass, the company’s subscription service, hit 10 million members in the quarter.
Related Link: Why 6 DoorDash Analysts Are Raising Price Targets After Q2 Earnings
What’s Next: DoorDash said the percentage of monthly active users who placed a non-restaurant order increased to 14% in December 2021. The company sees this being a key to growth with many non-restaurant vertical partners ones that are visited frequently by consumers.
“We were pleased with the consistent execution in our core restaurant business in 2021 and with our progress on expanding the scope of our business in new categories, new services and new geographies,” the company said.
DoorDash provided guidance for first-quarter marketplace gross order volume to come in the range of $11.4 billion to $11.8 billion. The company sees full fiscal 2022 gross order volume hitting a range of $48 billion to $50 billion.
The guidance includes continued growth of the U.S. restaurant sector, investment in new categories and international growth. The guidance does not include any impact from the Wolt transaction, which is expected to close in the first half of 2022.
DASH Price Action: DoorDash shares are up 23% to $116.52 in after-hours trading.
