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Annual Report — FY 2025
Filed February 18, 2026
Revenue surged to new highs as DoorDash's U.S. business continued to dominate food delivery while international operations scaled, with the company making its boldest global bet yet — the acquisition of UK-based Deliveroo in October 2025 for a deal that added significant goodwill, merchant relationships, and a rider network across multiple countries. The company also raised fresh capital through convertible senior notes due 2030 and secured a bridge credit facility to fund the Deliveroo purchase, while simultaneously running a multi-billion dollar share repurchase program. DoorDash is clearly pivoting from a U.S.-centric delivery app to a global commerce platform, layering on restaurant tech (SevenRooms acquisition) and new verticals, but investors should watch whether international expansion and heavy M&A translate into sustained profitability or become a cash drain.
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Extracted Milestones (6)
SevenRooms Acquisition Completed
DoorDash completed its acquisition of SevenRooms on June 13, 2025, adding reservation management, in-store dining, consumer relationship management, and tableside order-and-pay capabilities to its Commerce Platform.
Symbiosys Acquisition Completed
DoorDash completed its acquisition of Symbiosys on May 28, 2025, gaining technology-based and customer relationship intangible assets to bolster its platform capabilities.
DoorDash Acquisition of Deliveroo Completed
DoorDash completed its acquisition of Deliveroo via a UK court-sanctioned scheme of arrangement, bringing approximately 7 million monthly active consumers, 176,000 restaurant and retail partners, and 130,000 riders across 9 countries into the DoorDash portfolio.
DoorDash Commerce Platform Expands to Hundreds of Thousands of Merchants Including Tens of Thousands on Online Ordering
DoorDash's Commerce Platform (including Drive On-Demand, Online Ordering, Phone Ordering, Tableside Order & Pay, and Customer Support Solutions) has attracted hundreds of thousands of merchants, with tens of thousands specifically adopting the Online Ordering product.
DashPass, Wolt+, and Deliveroo Plus Combined Membership Surpasses 35 Million Members
DoorDash exited 2025 with over 35 million combined members across its DashPass, Wolt+, and Deliveroo Plus subscription programs, reflecting record DashPass signups during the year.
Advertising Product Offered Across Marketplaces
DoorDash offers advertising as a value-added service through its Marketplaces to help merchants and consumer packaged goods companies increase consumer engagement and drive incremental revenue.