DoorDash 2Q23: Restaurant Biz Profits Improving

Aug 15, 2023 | Corporate Insights, No Bull Economics

DoorDash reported very resilient growth in its core U.S. restaurant category with frequency at an all-time high, showing that restaurant delivery has legs post-covid.

Highlights

  • Restaurant delivery growth is driven by new users & higher frequency and its going forward growth opportunity is represented by a still low single-digit percentage penetration of total restaurant industry sales.
  • Increasing market reach is driven by marketing investments & DoorDash’s expansion into new verticals like groceries, pet products, or flowers which expands the platform’s ability to cross-market to new restaurant delivery customers.
  • The company, which reports 30MM active shoppers in total during any given month, wants to be known as a platform that can deliver whatever is requested to an entire city.
  • DashPass subscription service generated a record quarter. 
DoorDash Orders Chart
DoorDash 2Q23 Financials
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