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Q2 2025 Earnings — Results of Operations, Reg FD Disclosure
Filed August 6, 2025
Record Q2 across every key metric: revenue hit $3.3B (+25% Y/Y), GAAP net income swung to $285M from a $157M loss a year ago, and Adjusted EBITDA jumped 52% to $655M. The acceleration is broad-based — U.S. order frequency hit an all-time high, international orders are growing even faster, and improving unit economics signal DoorDash is scaling profitably rather than buying growth.
Filing Items
Item 2.02 — Results of Operations
The company is reporting its quarterly or annual financial results. This is the filing that accompanies an earnings call.
Item 7.01 — Reg FD Disclosure
Information shared at an investor day, conference, or guidance update. Regulation FD requires companies to disclose material information to all investors simultaneously.
Item 9.01 — Financial Statements
Financial statements and exhibits are attached to this filing. Usually accompanies other items rather than standing alone.
Extracted Milestones (3)
U.S. New Verticals Mature Cohort Retention Improves at Double-Digit Y/Y Rate
DoorDash reported particularly strong double-digit Y/Y growth in the size of mature consumer cohorts in U.S. new verticals (grocery, convenience, retail) in Q2 2025, indicating sustained product-market fit expansion beyond restaurants.
Wolt+ Records Highest-Ever Quarterly New Member Additions in Q2 2025
DoorDash's international Wolt+ subscription program added more new members in Q2 2025 than in any previous quarter, while also improving international marketplace unit economics on both a Y/Y and Q/Q basis.
DashPass Average Order Frequency Reaches All-Time High in Q2 2025
DashPass membership growth drove U.S. average order frequency to an all-time high in Q2 2025, with membership and engagement levels accelerating on a Y/Y basis compared to Q1 2025.