Shareholder letter
Page 1
Exhibit 99.1 February 25 , 2021 Fellow shareholders , DoorDash's mission is to grow and empower local economies . The responsibility we have to merchants , Dashers and consumers has never been more vital than amidst the challenges of the COVID - 19 pandemic . We are proud to have executed well for them in this difficult environment . Among key achievements in Q4 2020 , DoorDash : • Gained share in our category in the U.S. • Drove strong growth in new verticals , both on our Marketplace and in Drive • . Expanded our platform services business with outsized order growth in Drive Established new quarterly records for Total Orders , Marketplace GOV , and Adjusted EBITDA Fourth Quarter 2020 Key Financial Metrics • • Revenue grew 226 % year - over year ( " YoY " ) to $ 970 million , Total Orders grew 233 % YoY to 273 million , and Marketplace GOV grew 227 % YoY to $ 8.2 billion . GAAP gross profit of $ 477 million , up 311 % YoY from $ 116 million in Q4 2019 GAAP net loss of $ ( 312 ) million , compared to $ ( 134 ) million in Q4 2019 Adjusted EBITDA of $ 94 million , compared to an Adjusted EBITDA loss of $ ( 103 ) million in Q4 2019 ( Figures in millions , except percentages ) Revenue Marketplace GOV and Total Orders 268 % 273 214 % 226 % 236 204 176 % 172 % $ 970 82 103 $ 879 $ 6,150 $ 7,252 $ 8,179 $ 675 $ 298 $ 362 $ 2,502 $ 3,083 Q4'19 Q1'20 Q2'20 Q3'20 Q4'20 Q4'19 Revenue -Y / Y % Change Q1'20 Q2'20 Marketplace GOV Q3'20 -Total Orders Q4'20 GAAP Gross Profit Contribution Profit ( Loss ) $ 230 $ 215 $ 193 $ 469 $ 477 $ 327 $ 148 $ 116 3 % 3 % 3 % 1 % ( 0 % ) $ 25 ( $ 10 ) Q4'19 Q1'20 Q2'20 Q3'20 Q4'20 Q4'19 Q1'20 Q2'20 Q3'20 Q4'20 Contribution Profit ( Loss ) — % of Marketplace GOV GAAP Net Income ( Loss ) Adjusted EBITDA $ 23 ( $ 43 ) $ 79 $ 86 $ 94 1 % 1 % 1 % ( $ 134 ) ( $ 129 ) ( 2 % ) ( 4 % ) ( $ 103 ) ( $ 70 ) Q4'19 Q1'20 Q2'20 Q3'20 Q4'20 ( $ 312 ) Q4'19 Q1'20 Q2'20 Q3'20 Q4'20 ■ Adjusted EBITDA ― % of Marketplace GOV