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Dingdong ( Cayman ) Limited InvestorRoom Dingdong ( Cayman ) Limited Announces Third Quarter 2021 Financial Results SHANGHAI , Nov. 15 , 2021 / PRNewswire / -- Dingdong ( Cayman ) Limited ( " Dingdong " or the " Company " ) ( NYSE : DDL ) , a leading and fastest - growing company in the domestic neighborhood retail industry in China , with advanced supply chain capabilities , today announced its unaudited financial results for the third quarter ended September 30 , 2021 . Third Quarter 2021 Highlights : • GMV for the third quarter of 2021 increased by 107.7 % year over year to RMB 7,018.5 million ( US $ 1,089.3 million ) from RMB 3,379.0 million in the same quarter of 2020 . • Total revenue for the third quarter of 2021 increased by 111.0 % year over year to RMB 6,189.5 million ( US $ 960.6 million ) from RMB 2,933.5 million in the same quarter of 2020 . • The number of average monthly transacting users for the third quarter of 2021 increased by 120.3 % year over year to 10.5 million from 4.8 million in the same quarter of 2020 . • The number of frontline fulfillment station was 1,375 as of September 30 , 2021 , increased from 711 as of September 30 , 2020 . Mr. Changlin Liang , Founder and Chief Executive Officer of Dingdong , stated , " In the third quarter , we proactively adjusted our strategic focus to " Efficiency first , with due consideration of scale . " As such , we rapidly improved efficiency and significantly narrowed our non - GAAP net loss margin . We are confident that we will further reduce the non - GAAP net loss margin substantially in the fourth quarter . We are more optimistic now than we were during the IPO process about our expected profitability timeline . China has transitioned from an era of simply meeting basic human needs to a period of prosperity , leading to tremendous changes in people's consumption habits . This is a momentous era . Through deeper engagement in our supply chain and enhancement of our product development capabilities , we will live up to the opportunities presented by the times , create value for consumers , and generate long - term returns for our investors . " Ms. Le Yu , Chief Strategy Officer of Dingdong , stated , " For the fourth quarter , we will remain focused on serving higher - value users , improving our non - GAAP net loss margin , and growing our GMV on a year - over - year basis . We will continue to improve our gross margin while further benefiting from our upfront investments in the supply chain , increasing the GMV contribution from our private label brands and in - house products , and optimizing our product mix . In terms of non - GAAP net loss margin , we expect to achieve a greater sequential improvement in the fourth quarter than in the third quarter . In Shanghai , the home of our first operation , we expect our unit economics to reach breakeven in the coming quarter , driving unit economics in the Yangtze Delta region to steadily turn positive in the future . " Third Quarter 2021 Financial Results Total revenues were RMB 6,189.5 million ( US $ 960.6 million ) , representing an increase of 111.0 % from the same period of 2020 , mainly driven by the robust growth in the Company's GMV . • Product Revenues were RMB 6,122.3 million ( US $ 950.2 million ) , an increase of 111.2 % from RMB 2,899.2 million in the same quarter of 2020 . • Service Revenues were RMB 67.2 million ( US $ 10.4 million ) , an increase of 95.9 % from RMB 34.3 million in the same quarter of 2020 . Total operating costs and expenses were RMB 8,208.3 million ( US $ 1,273.9 million ) , an increase of 117.3 % from RMB 3,777.4 million in the same quarter of 2020 , mainly driven by the increase in business scale . • Cost of Goods Sold were RMB 5,061.2 million ( US $ 785.5 million ) , an increase of 109.2 % from RMB 2,419.7 million in the same quarter of 2020 , generally in line with the increase in total revenue . • Fulfillment expenses were RMB 2,308.7 million ( US $ 358.3 million ) , an increase of 120.8 % from RMB 1,045.6 million in the same quarter of 2020 , generally in line with the increase in total revenues . • Sales and marketing expenses were RMB 428.3 million ( US $ 66.5 million ) , an increase of 206.8 % from RMB 139.6 million in the same quarter of 2020 , mainly due to increased spending on sales and marketing expenses to acquire new customers . • General and administrative expenses were RMB 152.9 million ( US $ 23.7 million ) , an increase of 78.0 % from RMB 85.9 million in the same quarter of 2020 , mainly due to the growth in business scale . • Product development expenses were RMB 257.3 million ( US $ 39.9 million ) , an increase of 197.5 % from RMB 86.5 million in the same quarter of 2020 , mainly due to the increase in the spending on the Company's supply chain system to further improve efficiency and reduce operating costs , as well as the increase in spending on agricultural technology to empower upstream partners . Loss from operations was RMB 2,018.9 million ( US $ 313.3 million ) , compared with operating loss of RMB 843.9 million in the same quarter of 2020 . Net loss was RMB 2,010.6 million ( US $ 312.0 million ) , compared with net loss of RMB 828.6 million in the same quarter of 2020 .