DOORDASH, INC., 10-K/A filed on 5/6/2026
Amended Annual Report
v3.26.1
Cover - USD ($)
$ in Billions
 12 Months Ended
Dec. 31, 2025
Feb. 12, 2026
Jun. 30, 2025
Entity Information [Line Items]      
Document Type 10-K/A    
Document Annual Report true    
Document Period End Date Dec. 31, 2025    
Current Fiscal Year End Date --12-31    
Document Transition Report false    
Entity File Number 001-39759    
Entity Registrant Name DOORDASH, INC.    
Entity Incorporation, State or Country Code DE    
Entity Tax Identification Number 46-2852392    
Entity Address, Address Line One 303 2nd Street, South Tower, 8th Floor    
Entity Address, City or Town San Francisco    
Entity Address, State or Province CA    
Entity Address, Postal Zip Code 94107    
City Area Code 650    
Local Phone Number 487-3970    
Title of 12(b) Security Class A common stock, par value of $0.00001 per share    
Trading Symbol DASH    
Security Exchange Name NASDAQ    
Entity Well-known Seasoned Issuer Yes    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Filer Category Large Accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
ICFR Auditor Attestation Flag true    
Document Financial Statement Error Correction false    
Entity Shell Company false    
Entity Public Float     $ 90.8
Documents Incorporated by Reference ortions of the registrant’s Definitive Proxy Statement that was filed with the Securities and Exchange Commission on April 20, 2026.
Auditor name: KPMG LLPAuditor Location: San Francisco, CaliforniaAuditor Firm ID:185
    
Amendment Description EXPLANATORY NOTEThis Amendment No. 1 to Form 10-K (this “Amendment”) amends the Annual Report on Form 10-K for the fiscal year ended December 31, 2025 (the “Original 10-K”) filed by DoorDash, Inc., a Delaware corporation (“DoorDash,” “we” or “our”), on February 18, 2026 (the “Original Filing Date”). We are filing this Amendment to correct a clerical error in the report of KPMG LLP (“KPMG”), our independent registered public accounting firm. This Amendment speaks only as of the Original Filing Date, does not reflect events that may have occurred subsequent to the Original Filing Date, and does not modify or update in any way the disclosures made in the Original 10-K, including, without limitation, the financial statements and accompanying notes.This clerical error was the omission of an explanatory paragraph from KPMG’s report indicating that its audit of internal control over financial reporting did not include an evaluation of the internal control over financial reporting of SevenRooms Inc. (“SevenRooms”), which we acquired on June 13, 2025, and Deliveroo plc (“Deliveroo”), which we acquired on October 2, 2025. Management’s report on internal control over financial reporting included in the Original 10-K noted that, pursuant to the Securities and Exchange Commission's (the "SEC") general guidance that an assessment of a recently acquired business may be omitted from the scope of an assessment in the year of acquisition, the scope of our assessment of the effectiveness of internal control over financial reporting did not include SevenRooms and Deliveroo. In accordance with Rule 12b-15 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), this Amendment sets forth the complete text of Item 8 of Part II of the Original 10-K, which has been amended solely to provide the appropriate KPMG report that includes the explanatory paragraph regarding the exclusion of SevenRooms and Deliveroo from its assessment.Except as described above, no changes have been made to the Original 10-K. This Amendment should be read in conjunction with the Original 10-K and our other filings made with the SEC subsequent to the Original Filing Date.Pursuant to Rule 12b-15 of the Exchange Act, the certifications required pursuant to Rule 13a-14(a) and Rule 13a-14(b) of the Exchange Act, which were included as exhibits to the Original 10-K, have been re-executed as of the date of this Amendment and are included as Exhibits 31.3, 31.4 and 32.2 hereto.    
Entity Central Index Key 0001792789    
Document Fiscal Year Focus 2025    
Document Fiscal Period Focus FY    
Amendment Flag true    
Class A      
Entity Information [Line Items]      
Entity Common Stock, Shares Outstanding   409,966,858  
Class B      
Entity Information [Line Items]      
Entity Common Stock, Shares Outstanding   24,459,494  
Class C Common Stock      
Entity Information [Line Items]      
Entity Common Stock, Shares Outstanding   0  
v3.26.1
Audit Information
 12 Months Ended
Dec. 31, 2025
Audit Information [Abstract]  
Auditor Name KPMG LLP
Auditor Location San Francisco, California
Auditor Firm ID 185
v3.26.1
Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Current assets:    
Cash and cash equivalents $ 4,378 $ 4,019
Restricted cash 273 190
Short-term investments 1,128 1,322
Funds held at payment processors 587 436
Accounts receivable, net 1,108 732
Prepaid expenses and other current assets 1,169 687
Total current assets 8,643 7,386
Long-term investments 837 835
Operating lease right-of-use assets 437 389
Property and equipment, net 1,067 778
Intangible assets, net 2,260 510
Goodwill 5,519 2,315
Other assets 896 632
Total assets 19,659 12,845
Current liabilities:    
Accounts payable 397 321
Operating lease liabilities 105 68
Accrued expenses and other current liabilities 5,645 4,049
Total current liabilities 6,147 4,438
Operating lease liabilities 461 468
Convertible notes, net 2,724 0
Other liabilities 281 129
Total liabilities 9,613 5,035
Commitments and contingencies (Note 10)
Redeemable non-controlling interests 13 7
Stockholders’ equity:    
Common stock, par value, Class A, Class B and Class C shares authorized, issued and outstanding 0 0
Additional paid-in capital 14,092 13,165
Accumulated other comprehensive income (loss) 261 (107)
Accumulated deficit (4,320) (5,255)
Total stockholders’ equity 10,033 7,803
Total liabilities, redeemable non-controlling interests and stockholders’ equity $ 19,659 $ 12,845
v3.26.1
Consolidated Balance Sheets (Parenthetical) - $ / shares
Dec. 31, 2025
Dec. 31, 2024
Class of Stock [Line Items]    
Common stock, par value ($ per share) $ 0.00001 $ 0.00001
Class A    
Class of Stock [Line Items]    
Common stock, authorized (shares) 6,000,000,000 6,000,000,000
Common stock, issued (shares) 409,657,000 393,816,000
Common stock, outstanding (in shares) 409,657,000 393,816,000
Class B    
Class of Stock [Line Items]    
Common stock, authorized (shares) 200,000,000 200,000,000
Common stock, issued (shares) 24,590,000 25,861,000
Common stock, outstanding (in shares) 24,590,000 25,861,000
Class C Common Stock    
Class of Stock [Line Items]    
Common stock, authorized (shares) 2,000,000,000 2,000,000,000
Common stock, issued (shares) 0 0
Common stock, outstanding (in shares) 0 0
v3.26.1
Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Statement [Abstract]      
Revenue $ 13,717 $ 10,722 $ 8,635
Costs and expenses:      
Cost of revenue, exclusive of depreciation and amortization shown separately below 6,738 5,542 4,589
Sales and marketing 2,476 2,037 1,876
Research and development 1,431 1,168 1,003
General and administrative 1,600 1,452 1,235
Depreciation and amortization 747 561 509
Restructuring charges 2 0 2
Total costs and expenses 12,994 10,760 9,214
Income (loss) from operations 723 (38) (579)
Interest income, net 211 199 152
Other income (expense), net 5 (5) (107)
Income (loss) before income taxes 939 156 (534)
Provision for income taxes 7 39 31
Net income (loss) including redeemable non-controlling interests 932 117 (565)
Less: net loss attributable to redeemable non-controlling interests (3) (6) (7)
Net income (loss) attributable to DoorDash, Inc. common stockholders $ 935 $ 123 $ (558)
Net income (loss) per share attributable to DoorDash, Inc. Class A and Class B common stockholders      
Basic (in $ per share) $ 2.19 $ 0.30 $ (1.42)
Diluted (in $ per share) $ 2.13 $ 0.29 $ (1.42)
Weighted-average number of shares outstanding used to compute net income (loss) per share attributable to DoorDash, Inc. Class A and Class B common stockholders      
Basic (in shares) 427,043 411,551 392,948
Diluted (in shares) 439,686 430,242 392,948
v3.26.1
Consolidated Statements Of Comprehensive Income (Loss) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Statement of Comprehensive Income [Abstract]      
Net income (loss) including redeemable non-controlling interests $ 932 $ 117 $ (565)
Other comprehensive income (loss), net of tax:      
Change in foreign currency translation adjustments 366 (182) 84
Change in unrealized gains and losses on marketable securities 3 0 21
Other (1) 2 1
Total other comprehensive income (loss) 368 (180) 106
Comprehensive income (loss) including redeemable non-controlling interests 1,300 (63) (459)
Less: Comprehensive loss attributable to redeemable non-controlling interests (3) (6) (7)
Comprehensive income (loss) attributable to DoorDash, Inc. common stockholders $ 1,303 $ (57) $ (452)
v3.26.1
Consolidated Statements of Redeemable Non- Controlling Interests and Stockholders' Equity - USD ($)
shares in Thousands, $ in Millions
Total
Redeemable Non- Controlling Interests
Common Stock
Additional Paid-in Capital
Accumulated Deficit
Accumulated Other Comprehensive Income (Loss)
Redeemable non-controlling interests, beginning at Dec. 31, 2022 $ 14          
Increase (Decrease) in Temporary Equity [Roll Forward]            
Net income (loss)   $ (7)        
Redeemable non-controlling interests, ending at Dec. 31, 2023 7          
Common stock, outstanding (in shares), beginning at Dec. 31, 2022     391,471      
Common stock, outstanding, beginning balance at Dec. 31, 2022 6,754   $ 0 $ 10,633 $ (3,846) $ (33)
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Issuance of common stock upon settlement of restricted stock units (in shares)     16,742      
Issuance of common stock upon exercise of stock options (in shares)     6,999      
Issuance of common stock upon exercise of stock options 6     6    
Stock-based compensation 1,249     1,249    
Other comprehensive income (loss) 106         106
Repurchase and retirement of common stock (in shares)     (11,969)      
Repurchase and retirement of common stock (750)       (750)  
Cancellation of escrow shares related to the acquisition of Wolt (in shares)     (15)      
Cancellation of escrow shares related to the acquisition of Wolt (1)     (1)    
Net (loss) income (558)       (558)  
Common stock, outstanding (in shares), ending at Dec. 31, 2023     403,228      
Common stock, outstanding, ending balance at Dec. 31, 2023 6,806   $ 0 11,887 (5,154) 73
Increase (Decrease) in Temporary Equity [Roll Forward]            
Recognition of redeemable non-controlling interest upon additional capital investment   6        
Net income (loss)   (6)        
Redeemable non-controlling interests, ending at Dec. 31, 2024 7          
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Issuance of common stock upon settlement of restricted stock units (in shares)     14,073      
Issuance of common stock upon exercise of stock options (in shares)     4,504      
Issuance of common stock upon exercise of stock options 14     14    
Stock-based compensation 1,264     1,264    
Other comprehensive income (loss) (180)         (180)
Repurchase and retirement of common stock (in shares)     (2,128)      
Repurchase and retirement of common stock (224)       (224)  
Net (loss) income 123       123  
Common stock, outstanding (in shares), ending at Dec. 31, 2024     419,677      
Common stock, outstanding, ending balance at Dec. 31, 2024 7,803   $ 0 13,165 (5,255) (107)
Increase (Decrease) in Temporary Equity [Roll Forward]            
Recognition of redeemable non-controlling interest upon additional capital investment   9        
Net income (loss)   $ (3)        
Redeemable non-controlling interests, ending at Dec. 31, 2025 $ 13          
Increase (Decrease) in Stockholders' Equity [Roll Forward]            
Issuance of common stock upon settlement of restricted stock units (in shares)     12,466      
Issuance of common stock upon exercise of stock options (in shares) 2,104   2,104      
Issuance of common stock upon exercise of stock options $ 9     9    
Stock-based compensation 1,246     1,246    
Other comprehensive income (loss) 368         368
Recognition of redeemable non-controlling interest upon additional capital investment 11     11    
Issuance of warrants 341     341    
Purchase of convertible note hedges (680)     (680)    
Net (loss) income 935       935  
Common stock, outstanding (in shares), ending at Dec. 31, 2025     434,247      
Common stock, outstanding, ending balance at Dec. 31, 2025 $ 10,033   $ 0 $ 14,092 $ (4,320) $ 261
v3.26.1
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities      
Net income (loss) including redeemable non-controlling interests $ 932 $ 117 $ (565)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:      
Depreciation and amortization 747 561 509
Stock-based compensation 1,051 1,099 1,088
Reduction of operating lease right-of-use assets and accretion of operating lease liabilities 118 103 108
Amortization of deferred contract costs 77 60 45
Office lease impairment expenses 11 83 0
Adjustments to non-marketable equity securities, including impairment, net (17) 4 101
Other 37 (31) (30)
Changes in assets and liabilities, net of assets acquired and liabilities assumed from acquisitions:      
Funds held at payment processors (113) (87) 86
Accounts receivable, net (359) (222) (141)
Prepaid expenses and other current assets (247) (146) (105)
Other assets (240) (279) (96)
Accounts payable 54 82 70
Accrued expenses and other current liabilities 577 943 702
Payments for operating lease liabilities (125) (116) (113)
Other liabilities (72) (39) 14
Net cash provided by operating activities 2,431 2,132 1,673
Cash flows from investing activities      
Purchases of property and equipment (257) (104) (123)
Capitalized software and website development costs (348) (226) (201)
Purchases of investments (1,376) (1,951) (1,946)
Maturities of investments 1,379 1,774 1,940
Sales of investments 433 70 7
Purchases of non-marketable investments (47) 0 (17)
Acquisitions, net of cash acquired (4,151) 0 0
Settlement of deal-contingent forward contract (24) 0 0
Other investing activities 0 (7) (2)
Net cash used in investing activities (4,391) (444) (342)
Cash flows from financing activities      
Proceeds from issuance of convertible notes, net of issuance costs 2,720 0 0
Proceeds from issuance of warrants 341 0 0
Purchase of convertible note hedges (680) 0 0
Proceeds from exercise of stock options 9 14 6
Repurchase of common stock 0 (224) (750)
Payments of acquisition-related deferred cash consideration (20) 0 0
Other financing activities (10) 6 (8)
Net cash provided by (used in) financing activities 2,360 (204) (752)
Foreign currency effect on cash and cash equivalents, and restricted cash and cash equivalents 60 (35) 5
Net increase in cash and cash equivalents, and restricted cash and cash equivalents 460 1,449 584
Beginning of period 4,221 2,772 2,188
End of period $ 4,681 $ 4,221 $ 2,772
v3.26.1
Consolidated Statements of Cash Flows (Parenthetical) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Reconciliation of cash and cash equivalents, and restricted cash and cash equivalents to the consolidated balance sheets      
Cash and cash equivalents $ 4,378 $ 4,019 $ 2,656
Restricted cash 273 190 105
Long-term restricted cash and cash equivalents included in other assets 30 12 11
Total cash, cash equivalents, and restricted cash 4,681 4,221 2,772
Non-cash investing and financing activities      
Purchases of property and equipment not yet settled 41 48 13
Stock-based compensation included in capitalized software and website development costs 193 165 161
Deferred cash consideration for acquisitions $ 67 $ 0 $ 0
v3.26.1
Organization and Description of Business
 12 Months Ended
Dec. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Organization and Description of Business Organization and Description of Business
Description of Business
DoorDash, Inc. (the “Company”) is incorporated in Delaware with headquarters in San Francisco, California. The Company's mission is to grow and empower local economies. The Company aims to do this by providing services that reduce friction in local commerce and help merchants better connect with consumers in their communities.
The Company's primary offerings include the DoorDash Marketplace, the Wolt Marketplace, and the Deliveroo Marketplace (together, the "Marketplaces"), and its Commerce Platform. The Company's Marketplaces operate in over 40 countries and provide an integrated suite of services that help merchants establish an online presence, connect with consumers in their communities, and solve mission-critical challenges, such as customer acquisition, demand generation, order fulfillment, merchandising, payment processing, and customer support. The Company also 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.
The Company's Marketplaces seek to attract and retain consumers based primarily on the selection, convenience, quality, affordability, and service provided. The Company's Marketplaces also include consumer membership programs, DashPass, Wolt+, and Deliveroo Plus, which aim to lower transactional friction by reducing the delivery and service fees charged, while providing additional membership benefits.
In addition to its Marketplaces, the Company offers its Commerce Platform, which is a suite of services that help empower merchants to build, operate, and grow their businesses on their own channels. Within its Commerce Platform, the Company offers white-label delivery fulfillment services ("Drive") as well as services that help merchants establish online ordering, build branded mobile apps, manage reservations and in-store dining, manage consumer relationships, enable tableside order and pay, and improve customer support.
v3.26.1
Summary of Significant Accounting Policies
 12 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
Summary of Significant Accounting Policies Summary of Significant Accounting Policies
Basis of Presentation
The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries and entities consolidated under the variable interest entity model, and have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). All intercompany balances and transactions have been eliminated in consolidation.
Segments
Operating segments are defined as components of an entity for which separate financial information is available and that is regularly reviewed by the Chief Operating Decision Maker (“CODM”) in deciding how to allocate resources to an individual segment and in assessing performance. The Company’s Chief Executive Officer is the Company’s CODM. The CODM reviews financial information presented on a consolidated basis for purposes of making operating decisions, allocating resources, and evaluating financial performance. As such, the Company has determined that it operates in one reportable segment. See Note 3 – "Revenue" of these notes to the Company's consolidated financial statements for revenue by geography and Note 17 – "Segment Reporting" for significant expenses regularly provided to the Company's CODM. Long-lived assets, consisting of property and equipment, net and operating lease right-of-use assets located outside the United States, were $200 million and $375 million as of December 31, 2024 and 2025, respectively, of which $118 million and $173 million in the respective periods were located in Finland.
Use of Estimates
The preparation of consolidated financial statements in accordance with GAAP requires management to make certain estimates, judgments, and assumptions that affect the reported amounts of assets and liabilities and the related disclosures at the date of the financial statements, as well as the reported amounts of revenue and expenses during the periods presented. Estimates include, but are not limited to, revenue recognition, allowances for credit losses, gift card breakage, estimated useful lives of property and equipment, capitalized software and website development costs,
intangible assets, valuation of stock-based compensation, valuation of investments and other financial instruments including valuation of investments without readily determinable fair values, valuation of acquired intangible assets and goodwill, the incremental borrowing rate applied in lease accounting, impairment of long-lived assets, insurance reserves, loss contingencies, and income and indirect taxes. Actual results could differ from these estimates. 
Business Combinations
The Company accounts for business combinations using the acquisition method of accounting, which requires, among other things, allocation of the fair value of purchase consideration to the tangible and intangible assets acquired and liabilities assumed at their estimated fair values on the acquisition date. The excess of the fair value of purchase consideration over the values of these identifiable assets and liabilities is recorded as goodwill. When determining the fair value of assets acquired and liabilities assumed, management makes significant estimates and assumptions, especially with respect to the valuation of intangible assets. Management’s estimates of fair value are based upon assumptions believed to be reasonable, but which are inherently uncertain and unpredictable and, as a result, actual results may differ from estimates. During the measurement period, not to exceed one year from the date of acquisition, the Company may record adjustments to the assets acquired and liabilities assumed, with a corresponding offset to goodwill if new information is obtained related to facts and circumstances that existed as of the acquisition date. Upon the conclusion of the measurement period or final determination of the fair value of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are reflected in the consolidated statements of operations. Acquisition costs, such as legal and consulting fees, are expensed as incurred.
Cash, Cash Equivalents, and Restricted Cash and Cash Equivalents
Cash includes demand deposits with banks or financial institutions as well as cash in transit from payment processors. Cash equivalents include short-term and highly liquid investments with original maturities of three months or less and their carrying values approximate fair value due to their short-term maturities.
Restricted cash and cash equivalents consist of bank accounts and cash equivalents which are legally restricted for use, including certain amounts collected on the behalf of, but not yet remitted to, merchants, which are restricted in compliance with certain regulatory requirements, and collateral provided for letters of credit established primarily for real estate leases and insurance policies. Restricted cash and cash equivalents are classified as either current or non-current assets based on the estimated term of the remaining restriction.
Investments
Investments include marketable securities, which primarily consist of available-for-sale debt securities, including certificates of deposit, commercial paper, U.S. government agency securities, U.S. Treasury securities and corporate bonds, as well as mutual funds, which are reported at fair value. The Company invests in a diversified portfolio of marketable securities and limits the concentration of its investment in any particular security. Investments also include time deposits, which are accounted for at amortized cost. Investments with maturities greater than three months, but less than one year, are included in current assets and investments with maturities greater than one year are included in non-current assets on the consolidated balance sheets.
If the estimated fair value of an available-for-sale debt security is below its amortized cost basis, then the Company evaluates the security for impairment. The Company considers its intent to sell the security or whether it is more likely than not that it will be required to sell the security before recovery of its amortized basis. If either of these criteria are met, the debt security’s amortized cost basis is written down to fair value through other income (expense), net in the consolidated statements of operations. If neither of these criteria are met, the Company evaluates whether unrealized losses have resulted from a credit loss or other factors. The factors considered in determining whether a credit loss exists can include the extent to which fair value is less than the amortized cost basis, changes to the rating of the security by a rating agency, any adverse conditions specifically related to the security, as well as other factors. An impairment relating to credit losses is recorded through an allowance for credit losses reported in other expense, net in the consolidated statements of operations. The allowance is limited by the amount that the fair value of the debt security is below its amortized cost basis. When a credit loss exists, the Company compares the present value of cash flows expected to be collected from the debt security with the amortized cost basis of the security to determine what allowance amount, if any, should be recorded. As of December 31, 2024 and 2025, no allowance of credit losses related to marketable securities was recorded. Unrealized losses not resulting from credit losses are recorded through accumulated other comprehensive income (loss).
Funds Held at Payment Processors
The Company relies on a limited number of third parties to provide payment processing services (“payment processors”) including collecting amounts due from end-users and processing Dasher and merchant payouts. Funds held at payment processors represent cash due from the Company’s payment processors for transactions with consumers, as well as funds transferred to payment processors for Dasher and merchant payouts.
Accounts Receivable, Net and Allowance for Credit Losses
Accounts receivable, net primarily represents receivables from merchants that were generated through the Company’s Drive and Marketplaces related offerings. The Company maintains an allowance for credit losses, which is based on the Company’s assessment of the collectability of accounts. The Company regularly reviews the adequacy of the allowance for credit losses on a collective basis by considering the age of each outstanding invoice, each customer’s expected ability to pay and collection history, current market conditions, and reasonable and supportable forecasts of future economic conditions to determine whether the allowance is appropriate. Accounts receivable deemed uncollectible are charged against the allowance for credit losses when identified.
Property and Equipment, Net
Property and equipment are recorded at cost and depreciated using the straight-line method over the estimated useful lives of the related assets. The useful lives are as follows:
 

Estimated Useful Life
Equipment for merchants

2 years
Computer equipment and software

2 years
Office equipment

5 years
Capitalized software and website development costs

2 years
Leasehold improvements

Shorter of estimated useful life or lease term
Maintenance and repair costs are charged to expense as incurred. Upon disposal of a fixed asset, the Company records a gain or loss based on the difference between the proceeds received and the net book value of the disposed asset.
Intangible Assets, Net
Intangible assets are recorded at fair value as of the date of acquisition and amortized on a straight-line basis over their estimated useful lives. The Company reviews identifiable amortizable intangible assets for impairment under the long-lived asset model described under “Impairment of Long-Lived Assets” below.
Goodwill
Goodwill represents the excess of the purchase price over the fair value of the net tangible and intangible assets acquired in a business combination. Goodwill is not amortized, but is tested for impairment at least annually or more frequently if events or changes in circumstances indicate that the asset may be impaired. The Company’s impairment tests are based on a single operating segment and reporting unit structure. If the carrying value of the reporting unit exceeds its fair value, an impairment charge is recognized for the excess of the carrying value of the reporting unit over its fair value.
The Company conducted its annual goodwill impairment test during the fourth quarter of 2025 and determined that the fair value of the reporting unit significantly exceeded its carrying value. No goodwill impairment charge was recorded in any of the periods presented in the accompanying consolidated financial statements.
Non-Marketable Investments
Non-marketable investments consist of equity and debt investments in privately-held companies, which are included in other assets on the consolidated balance sheets. Non-marketable equity securities that the Company does not have a controlling financial interest in and does not exercise significant influence over the investee are recorded at cost and adjusted for observable transactions for same or similar investments of the same issuer or impairment (referred to as the measurement alternative).
The carrying value is not adjusted for the Company’s non-marketable equity securities if there are no observable price changes in a same or similar investment of the same issuer or if there are no identified events or changes in circumstances that may indicate impairment.
In December 2025, the Company purchased €31 million (approximately $37 million) principal amount of convertible notes issued by a private company in which the Company has a pre-existing equity investment. The convertible notes investment is accounted for at fair value with changes in fair value recorded in earnings through other income (expense), net in the consolidated statements of operations, under the fair value option available for financial instruments. The Company elected the fair value option to account for the convertible notes because the Company believes it accurately reflects the value of the convertible notes and embedded features in the financial statements.
Derivative Financial Instruments
The Company accounts for derivative financial instruments in accordance with Accounting Standards Codification (“ASC”) 815, Derivatives and Hedging, which establishes accounting and reporting for derivative instruments, including economic hedges. Accordingly, any gains or losses related to the derivative instruments used as economic hedges are recognized in earnings. Cash flows are recorded in the same section as the cash flows of the related hedged item. Refer to Note 16 - "Derivative" for further information.
Capitalized Software and Website Development Costs
The Company incurs costs relating to the development of the Company’s technology platform, which includes Dasher and merchant tools, mobile apps, and website and content development. Software development costs related to software acquired, developed, or modified solely to meet the Company’s internal requirements, with no substantive plans to market such software at the time of development, are capitalized during the application development stage of the project. Costs incurred during the preliminary planning and evaluation stage of the project and during the post implementation operational stage are expensed as incurred. Costs to develop the Company’s technology platform are capitalized when preliminary development efforts are successfully completed, management has authorized and committed project funding, and it is probable that the project will be completed and the software will be used as intended. Costs incurred for enhancements that are expected to result in additional functionality are capitalized and expensed over the estimated useful life of the upgrades on a per project basis.
Impairment of Long-Lived Assets
The Company evaluates its long-lived assets or asset groups for indicators of possible impairment by comparison of the carrying amount to future net undiscounted cash flows expected to be generated by such asset or asset group when events or changes in circumstances indicate the carrying amount of an asset or asset group may not be recoverable. Should an impairment exist, the impairment loss would be measured based on the excess carrying value of the asset or asset group over the asset’s or asset group’s fair value generally determined by estimates of future discounted cash flows. Assets to be disposed of are reported at the lower of their carrying amount or fair value less costs to sell.
Insurance Reserves
The Company utilizes third-party insurance that includes retained insurance deductibles and retained quota shares to insure costs including auto liability related to both bodily injury and physical damage, and uninsured and underinsured motorists up to a certain dollar retention limit. The recorded insurance reserves reflect the estimated cost for claims incurred but not yet paid and claims that have been incurred but not yet reported and any loss adjustment expense. The estimate of the Company’s ultimate deductible obligation utilizes actuarial techniques applied to historical claim and loss experience. The Company utilizes assumptions based on actuarial judgments with consideration toward claim and loss development factors, which includes the development time frame and settlement patterns, and expected loss rates. Reserves are periodically reviewed and adjusted as necessary as experience develops or new information becomes known. However, ultimate results may differ from the Company’s estimates, which could result in losses over the Company’s reserved amounts.
During the years ended December 31, 2023, 2024 and 2025, the Company recorded additions to the insurance reserves of $518 million, $526 million and $303 million, respectively. The Company’s retained insurance deductibles reserves as of December 31, 2024 and 2025 were $1.0 billion and $1.1 billion, respectively.
Loss Contingencies
The Company is involved in various lawsuits, claims, investigations, and proceedings that arise in connection with its business. Certain of these matters include speculative claims for substantial or indeterminate amounts of damages. The Company records a liability in accrued expenses and other current liabilities on the consolidated balance sheets when the Company believes that it is both probable that a loss has been incurred and the amount or range can be reasonably estimated. The Company discloses material contingencies when it believes that a loss is not probable but reasonably possible. Significant judgment is required to determine both probability and the estimated amount. The Company reviews these provisions on a quarterly basis and adjusts these provisions accordingly to reflect the impact of negotiations, settlements, rulings, advice of legal counsel, and updated information.
Sales and Indirect Taxes
The Company records sales and indirect tax liabilities when they become probable and the amount can be reasonably estimated. Sales and indirect tax liabilities are included in accrued expenses and other current liabilities on the consolidated balance sheets.
Accumulated Other Comprehensive Income (Loss)
Accumulated other comprehensive income (loss) primarily consists of foreign currency translation adjustments and unrealized gains and losses on available-for-sale marketable securities. The financial statements of the Company’s non-U.S. subsidiaries are translated from their functional currency, which is typically the local currency, into U.S. dollars. Assets and liabilities are translated at period end rates of exchange, and revenue and expenses are translated using average monthly exchange rates. The resulting gain or loss is included in accumulated other comprehensive income (loss) on the consolidated balance sheets.
Available-for-sale securities are reported at fair value, with unrealized gains and losses included as a separate component of stockholders’ equity within accumulated other comprehensive income (loss).
Stock-Based Compensation
The fair value of restricted stock and RSUs is estimated based on the fair value of the Company’s common stock on the date of grant. With the exception of the CEO Performance Award (as discussed further in Note 11 - "Common Stock"), the Company only granted RSUs that vest upon the satisfaction of a service-based vesting condition and the compensation expense for these RSUs is recognized on a straight-line basis over the requisite service period.
For the CEO Performance Award, which includes a market-based condition, the fair value of the award was determined using a Monte Carlo simulation model. The associated stock-based compensation is recorded over the derived service period, using the accelerated attribution method. If the stock price goals are met sooner than the derived service period, the Company will adjust the stock-based compensation expense to reflect the cumulative expense associated with the vested award. Provided that Tony Xu continues to be the Chief Executive Officer of the Company, stock-based compensation expense is recognized over the requisite service period, regardless of whether the stock price goals are achieved.
The Company records forfeitures when they occur for all share-based payment awards.
Income Taxes
The Company accounts for income taxes using the asset and liability method. Under this method, deferred income tax assets and liabilities are recorded based on the estimated future tax effects of differences between the financial statement and income tax basis of existing assets and liabilities. These differences are measured using the enacted statutory tax rates that are expected to apply for the years in which differences are expected to reverse. The Company recognizes the effect on deferred income taxes of a change in tax rates in the period that includes the enactment date.
The Company records a valuation allowance to reduce its deferred tax assets to the net amount that it believes is more-likely-than-not to be realized. Management considers all available evidence, both positive and negative, including the Company's history of losses measured at pre-tax income (loss) adjusted for permanent book-tax differences on a jurisdictional basis, volatility in actual earnings, excess tax benefits related to stock-based compensation in recent prior years, and impacts of the timing of reversal of existing temporary differences. Management also relies on its assessment of the Company’s projected future results of business operations, including uncertainty in future operating results relative
to historical results, volatility in the market price of the Company's common stock and its performance over time, variable macroeconomic conditions impacting its ability to forecast future taxable income, and changes in business that may affect the existence and magnitude of future taxable income. Management's judgments regarding levels of future profitability are consistent with plans and estimates used to manage the business; however, actual operating results in future years could differ from the current assumptions, judgments and estimates. Should there be a change in the ability to recover deferred tax assets, the Company's income tax provision would increase or decrease, as applicable, in the period in which the assessment is changed.
The Company operates in various tax jurisdictions and is subject to audit by tax authorities. The Company recognizes the tax benefit of an uncertain tax position only if it is more-likely-than-not that the position is sustainable upon examination by the taxing authority, based on the technical merits. The tax benefit recognized is measured as the largest amount of benefit that is greater than 50% likely to be realized upon settlement with the taxing authority. Management considers many factors when evaluating the Company's tax positions and estimating its tax benefits, which may require periodic adjustments. Due to uncertainties in any tax audit outcome, management estimates of the ultimate settlement of the Company's unrecognized tax positions may change and the actual tax benefit may differ significantly from the estimates, as may be adjusted. The Company recognizes interest accrued and penalties related to unrecognized tax benefits in the provision for income taxes.
Fair Value
The Company measures certain assets and liabilities at fair value on a recurring basis based on an expected exit price, which represents the amount that would be received on the sale of an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value may be based on assumptions that market participants would use in pricing an asset or liability.
The authoritative guidance on fair value measurements establishes a consistent framework for measuring fair value on either a recurring or nonrecurring basis, whereby inputs used in valuation techniques, are assigned a hierarchical level. The following are the hierarchical levels of inputs to measure fair value:
Level 1Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets.
Level 2Inputs reflect quoted prices for identical assets or liabilities in markets that are not active; quoted prices for similar assets or liabilities in active markets; inputs other than quoted prices that are observable for the assets or liabilities; or inputs that are derived principally from or corroborated by observable market data by correlation or other means.
Level 3Unobservable inputs reflecting the Company’s own assumptions incorporated in valuation techniques used to determine fair value. These assumptions are required to be consistent with market participant assumptions that are reasonably available.
The carrying amounts of certain of the Company’s financial instruments, which include cash equivalents, accounts receivable, accounts payable, and accrued expenses and other current liabilities approximate their fair values due to their short maturities.
Concentration of Credit Risk
The Company’s cash, cash equivalents, investments, funds held at payment processors, and accounts receivable are potentially subject to concentration of credit risk. Although the Company deposits its cash with multiple financial institutions, the deposits, at times, exceed federally insured limits. Management believes that the institutions are financially stable and, accordingly, minimal credit risk exists. The Company limits purchases of debt securities to investment-grade securities. The Company has not experienced any significant credit losses historically.
Payment processors are financial institutions or credit card companies that the Company believes are of high credit quality. The Company retains the risk of collecting such amounts from the payment processors, which are included in funds held at payment processors for the unsettled portion at each period end. The portion of the payments to be remitted to Dashers and merchants is included in accrued expenses and other current liabilities. Although the Company pre-authorizes forms of payment to mitigate its exposure, the Company absorbs all credit card losses.
Accounts receivable, net primarily represents receivables from merchants that were generated through the Company’s Drive and Marketplaces related offerings. As of December 31, 2024, one entity individually accounted for 13% of accounts receivable, net. As of December 31, 2025, one entity individually accounted for 12% of accounts receivable, net. No customer accounted for 10% or more of revenue for the years ended December 31, 2023, 2024, and 2025.
Revenue Recognition
The Company recognizes revenue in accordance with the Financial Accounting Standards Board (“FASB”) ASC 606, Revenue from Contracts with its Customers. The Company generates a substantial majority of its revenue from orders completed through its Marketplaces and the related commissions charged to partner merchants and fees charged to consumers. A partner merchant represents a merchant that has entered into a contractual agreement with the Company. Revenue from the Marketplaces is recognized at the point in time when the consumer obtains control of the merchant’s products. The Company also generates revenue from membership fees paid by consumers for DashPass, Wolt+, and Deliveroo Plus, which is recognized as part of the Marketplaces. Revenue generated from the Company’s DashPass, Wolt+, and Deliveroo Plus memberships is recognized on a ratable basis over the contractual period, which is generally one month to one year depending on the type of membership purchased by the consumer. In addition, the Company also generates revenue from its Drive offering by collecting per-order fees from merchants that use its local commerce platform to arrange for delivery services that fulfill demand generated through their own channels. Revenue from Drive is recognized at the point in time when the consumer obtains control of the merchant’s products.
When determining the appropriate accounting for the fees collected in exchange for the use of the Company’s local commerce platform, the Company considered its contractual arrangements with the parties involved as well as its customary business practices. Under the Company’s agreements with partner merchants, the Company agrees to a commission to be earned as a percentage of the total dollar value of goods ordered. When a consumer signs up to use the Company’s local commerce platform, the consumer agrees to be charged certain fees, at the time an order is placed, in exchange for use of the platform. The Company has concluded that a contract exists between the Company and a partner merchant when the partner merchant accepts each consumer’s order, and a contract exists between the Company and a consumer when the consumer places the order and requests delivery services. The duration of a contract is typically equal to the time between when the order is placed and a Dasher picks up the food from the merchant. Contracts including variable consideration with partner merchants were not material for the periods presented.
The Company’s local commerce platform facilitates orders between consumers and partner merchants. Separately, the Company’s platform arranges for consumers to obtain delivery service from Dashers. The Company has determined that the order facilitation service and delivery facilitation service are distinct performance obligations and has therefore considered whether it is a principal or agent separately for each of these items. The order facilitation service and the delivery facilitation service are distinct given that the consumer can benefit from each item separately. Further, the order facilitation service and delivery facilitation service are separately identifiable as the nature of the promises are to transfer the order facilitation service and delivery facilitation service individually, rather than as a combined item.
Principal vs. Agent Considerations
Judgment is required in determining whether the Company is the principal or the agent in transactions with partner merchants, consumers, and Dashers. As it relates to the accounting for order facilitation services and delivery facilitation services, the Company evaluated whether to present revenue on a gross versus net basis based on whether it controls each specified good or service before it is provided to the consumer in Marketplace transactions.
With respect to order facilitation services, the Company has determined it is an agent for partner merchants in facilitating the sale of products to the consumer through its Marketplaces. The consumer accesses the Company’s local commerce platform to identify merchants and places an order for merchants’ products. These orders are picked up from partner merchants and delivered to consumers by Dashers. The Company does not control the products prior to them being transferred to the consumer as it neither has the ability to redirect the products to another consumer nor does it obtain any economic benefit from the products.
With respect to the vast majority of its delivery facilitation services, the Company has determined it is acting as an agent for the consumer in facilitating the delivery of products by connecting consumers with Dashers. As the Company’s role with the delivery facilitation service is only to arrange for a delivery opportunity to be offered to prospective Dashers, it does not control how the delivery service is ultimately provided to the consumer.
In the vast majority of its transactions with end-users, the Company is an agent in facilitating the sale of products and delivery services, thus the Company reports revenue on a net basis, reflecting amounts collected from consumers, less amounts remitted to merchants and Dashers.
Dasher payout represents the amounts paid to Dashers for deliveries, including incentives and tips, except for certain referral bonuses. From time to time, Dashers may request an earlier payment settlement in exchange for a reduction in Dasher payout. The amounts payable to merchants and Dashers are included in accrued expenses and other current liabilities on the consolidated balance sheets as payments are typically settled within a week.
The Company recognizes revenue from both partner merchants and consumers for each successfully completed transaction. The Company satisfies its performance obligations to a partner merchant when there is a successful sale of the merchant’s products and meets its performance obligation to a consumer once the Dasher has picked up the products from the merchant for delivery to the consumer.
The Company also provides value-added services to merchants. These services are generally considered separate performance obligations and revenue is recognized over the period in which services are provided.
Gift Cards
The Company sells gift cards to consumers that can be redeemed through the Marketplaces. The majority of gift cards sold have no expiration date and administrative fees are not charged on unused gift cards. When gift cards are redeemed, revenue is recognized on a net basis as the difference between the amounts collected from consumers less amounts remitted to merchants and Dashers. The Company also estimates the portion of outstanding gift cards that will never be redeemed (“breakage”) and for which there is no legal obligation to remit the value of the unredeemed gift cards to the relevant jurisdiction as unclaimed or abandoned property. The Company recognizes the breakage amounts as revenue, proportionate to the pattern of revenue recognition for the gift card redemptions. The Company recorded $41 million, $46 million and $58 million of gift card breakage revenue during the years ended December 31, 2023, 2024, and 2025, respectively. Estimating future breakage rates requires judgment based on current and historical patterns of redemption, and the actual breakage rates may vary from the estimate. For jurisdictions where gift cards have expiration dates, the Company recognizes breakage when they expire.
Refunds and Credits
From time to time the Company issues credits or refunds to merchants and consumers to ameliorate issues that may arise with orders. The Company accounts for such refunds as variable consideration and therefore records the amount of each refund or credit issued as a reduction of revenue.
Incentive Programs
The Company offers incentives to attract consumers and Dashers to use its local commerce platform. Consumers typically receive credits or discounted delivery fees while Dashers typically receive cash incentives. Each of the incentives are described below.
Consumer Promotions
The Company uses promotions in tandem with sales and marketing spend to attract new consumers to its platform. Promotions offered to consumers are primarily recorded as a reduction of revenue and include the following:
New consumer incentives: The Company records discounts and incentives provided to new consumers as a promotion and reduces revenue on the date that the corresponding revenue transaction is recorded.
Consumer referrals: The Company offers referral credits to its existing consumers for referrals of new consumers. These referral credits are paid in exchange for a distinct marketing service and therefore the portion of these credits that is equal to or less than the fair value of acquiring a new consumer are accounted for as a consumer acquisition cost. The majority of new consumer acquisition costs is expensed as incurred and reflected as sales and marketing expenses in the Company’s consolidated statements of operations. The portion of these credits in excess of the fair value of acquiring a new consumer is accounted for as a reduction of revenue.
Existing consumer incentives: On occasion, the Company offers promotional discounts to existing consumers. The Company records incentives provided to existing consumers as a promotion and reduces revenue on the date that the corresponding revenue transaction is recorded.
Dasher Incentives and Referrals
The Company offers various incentives to Dashers, which are primarily recorded within Dasher payout and reduce revenue. These are offered in various forms and include:
Peak pay: The Company makes additional payments to Dashers to incentivize them to accept delivery opportunities during peak demand time.
Dasher referrals: The Company offers referral bonuses to referring Dashers, as well as to referred Dashers, once the new Dasher has met certain qualifying conditions. The Company expenses the fair value of payments made to the referring Dashers as incurred in sales and marketing expenses in the consolidated statements of operations, since the marketing of the Company’s platform to acquire new Dashers represents a distinct benefit to the Company. The portion of these referral bonuses in excess of the fair value of payments made to the referring Dashers is accounted for as a reduction of revenue. Payments made to the referred Dashers are recorded within Dasher payout and reduce revenue at the time the corresponding revenue transaction is recorded.
Advertising Costs
Advertising costs are expensed when incurred and are included in sales and marketing expenses in the consolidated statements of operations. Advertising expenses were $1.3 billion, $1.3 billion, and $1.6 billion for the years ended December 31, 2023, 2024, and 2025, respectively.
Net Income (Loss) Per Share Attributable to Common Stockholders
The Company computes net income (loss) per common share following the two-class method required for multiple classes of common stock and participating securities. The two-class method requires income (loss) available to DoorDash, Inc. common stockholders for the period to be allocated between multiple classes of common stock and participating securities based upon their respective rights to receive dividends as if all income (loss) for the period had been distributed. The rights, including the liquidation and dividend rights, of the Class A common stock, Class B common stock, and Class C common stock are substantially identical, other than voting rights. Accordingly, the Class A common stock and Class B common stock shared proportionately in the Company’s net income and losses. No shares of Class C common stock were issued and outstanding as of December 31, 2024 and 2025.
Basic net income (loss) per share is computed by dividing the net income (loss) attributable to common stockholders by the weighted-average number of shares of common stock outstanding during the period, less shares subject to repurchase. The diluted net income (loss) per share is computed by giving effect to all potentially dilutive securities outstanding for the period. For periods in which the Company reports net losses, diluted net loss per common share is the same as basic net loss per common share, because all potentially dilutive securities are anti-dilutive.
Leases
The Company determines if an arrangement is or contains a lease at inception. A contract is or contains a lease if it conveys the right to control the use of an identified asset for a period of time in exchange for consideration. ROU assets represents the Company's right to use the underlying assets for the lease term and lease liabilities represents the Company's obligation to make lease payments arising from the lease. The Company has elected the practical expedient of not recognizing ROU assets and lease liabilities for short-term leases with terms of twelve months or less. Expense related to short-term leases is recognized either straight-line over the lease term or as incurred depending on whether the lease payments are fixed or variable. ROU assets are recognized as the lease liability, adjusted for lease incentives received. Lease liabilities are recognized at the present value of the future lease payments at the lease commencement date. The Company’s classes of assets that are leased include real estate leases and equipment leases. Operating leases consist of real estate leases and are included in operating lease ROU assets and operating lease liabilities on the Company’s consolidated balance sheets. Finance leases consist of equipment leases and are included in property and equipment, net on the Company’s consolidated balance sheets. Most of the Company’s leases are operating leases, and activities related to finance leases were not material for the periods presented.
The Company’s real estate leases are for an initial period between one and 15 years, and typically include renewal options, the election of which is at the option of the Company. The Company includes renewal options in the measurement of lease liabilities only to the extent the option is reasonably certain to be exercised. For leases that provide the option to terminate, the lease term includes periods covered by such options to the extent the Company is reasonably certain not to exercise the option.
The Company subleases certain portions of buildings subject to operating leases. The terms and conditions of the subleases are commensurate with the terms and conditions within the original operating leases. The term of the subleases generally range from two to eight years, payments are fixed within the contracts, and there are no residual value guarantees or other restrictions or covenants in the leases.
When the discount rate implicit in the lease cannot be readily determined, the Company uses the applicable incremental borrowing rate at lease commencement in order to discount lease payments to present value for purposes of performing lease classification tests and measuring the lease liability. The incremental borrowing rate represents the rate of interest the Company would have to pay to borrow on a collateralized basis over a similar term an amount equal to the lease payments in a similar economic environment. Because the Company does not typically borrow on a collateralized basis, it uses a derived unsecured synthetic credit rating adjusted for collateralization, current available yield curves, and the lease term as inputs to derive an appropriate incremental borrowing rate.
Variable Interest Entities
The Company evaluates its ownership, contractual and other interests in entities to determine if it has a variable interest in an entity and if it is the primary beneficiary. These evaluations are complex and involve judgment and the use of estimates and assumptions based on available historical and prospective information, among other factors. If the Company determines that entities for which the Company holds a contractual or ownership interest in are variable interest entities ("VIE") and that the Company is the primary beneficiary, the Company consolidates such entities in the consolidated financial statements. The primary beneficiary of a VIE is the party that meets both of the following criteria: (1) has the power to make decisions that most significantly affect the economic performance of the VIE and (2) has the obligation to absorb losses or the right to receive benefits that in either case could potentially be significant to the VIE. Periodically, the Company determines whether any changes in the interest or relationship with the entity impacts the determination of whether the Company is still the primary beneficiary. If the Company is not deemed to be the primary beneficiary in a VIE, the Company accounts for the investment or other variable interests in a VIE in accordance with applicable GAAP. Refer to Note 15 - "Variable Interest Entities" of these notes to the Company's consolidated financial statements for further information.
Restructuring
Costs and liabilities associated with management-approved restructuring activities are recognized when they are incurred. One-time employee termination costs are recognized at the time of communication to employees, unless future service is required, in which case the costs are recognized over the future service period. Ongoing employee termination benefits are recognized as a liability when it is probable that a liability exists and the amount is reasonably estimable. Restructuring charges are recognized as an operating expense within the consolidated statements of operations and related liabilities are recorded within accrued expenses and other current liabilities on the consolidated balance sheets. The Company periodically evaluates and, if necessary, adjusts its estimates based on currently available information.
Recent Accounting Pronouncements Adopted
In December 2023, the FASB issued Accounting Standards Update 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures” (“ASU 2023-09”). The amendment requires additional income tax disclosure. Specifically, it requires public entities, on an annual basis, to provide disclosure of defined categories in the income tax rate reconciliation, as well as disclosure of income taxes paid, disaggregated by jurisdiction. ASU 2023-09 is effective for annual periods beginning after December 15, 2024. The Company adopted ASU 2023-09 on a prospective basis for the year ended December 31, 2025. Refer to Note 12 – "Income Taxes” of these notes to the Company's consolidated financial statements for further information.
Recent Accounting Pronouncements Not Yet Adopted
In November 2024, the FASB issued Accounting Standards Update 2024-03, "Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses" ("ASU 2024-03"), which requires disclosure, on an annual and interim basis, of specified information about certain costs and expenses in the notes to financial statements. ASU 2024-03 will be effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted. The Company is currently evaluating the impact of the adoption of this guidance on its consolidated financial statements and disclosures.
In September 2025, the FASB issued Accounting Standards Update 2025-06, "Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software" (“ASU 2025-06”), which removes all references to prescriptive and sequential software development stages and establishes new criteria for the capitalization of internal-use software costs. ASU 2025-06 is effective for fiscal years beginning after December 15, 2027, and interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted. The Company is currently evaluating the impact of the adoption of this guidance on its consolidated financial statements and disclosures.
v3.26.1
Revenue
 12 Months Ended
Dec. 31, 2025
Revenue from Contract with Customer [Abstract]  
Revenue Revenue
Disaggregated Revenue Information
All revenue recognized during the periods presented was related to the Company's core business, which is primarily composed of the Company's Marketplaces and Commerce Platform.

Revenue by geographic area is determined based on the address of the merchant, or in the case of the Company's membership products, the address of the consumer. Revenue by geographic area was as follows (in millions):
 
Year Ended December 31,
 202320242025
United States$7,781 $9,403 $11,460 
International(1)
854 1,319 2,257 
Total revenue$8,635 $10,722 $13,717 
(1)No individual country outside the United States represented 10% or more of total consolidated revenue for the periods presented.
Contract Liabilities
The timing of revenue recognition may differ from the timing of invoicing to or collections from customers. The Company’s contract liabilities balance, which is included in accrued expenses and other current liabilities on the consolidated balance sheets, is primarily composed of unredeemed gift cards, prepayments received from consumers and merchants, certain consumer credits as well as other transactions for which the revenue is recognized over time. A summary of activities related to contract liabilities for the year ended December 31, 2025 was as follows (in millions):
Year Ended December 31, 2025
Beginning balance$396 
Addition to contract liabilities3,835 
Reduction of contract liabilities(1)(2)
(3,684)
Ending balance$547 
(1)Gift cards and certain consumer credits can be redeemed through the Marketplaces. When they are redeemed, revenue is recognized on a net basis as the difference between the amounts collected from consumers less amounts remitted to merchants and Dashers for those transactions. Therefore, the amount recognized as revenue related to the reduction of gift cards and certain consumer credits is less than the amount presented in the table above. Net revenue associated with gift cards and certain consumer credits is not tracked by the Company as it is impracticable to do so.
(2)Included in the beginning balance of contract liabilities was $228 million associated with unearned prepayments received by the Company, all of which was recognized as revenue during the year ended December 31, 2025. The ending balance of unearned prepayments is expected to be recognized as revenue in 12 months or less.
Deferred Contract Costs
Deferred contract costs represent direct and incremental costs incurred to acquire or fulfill the Company’s contracts, consisting of sales commissions and costs related to merchant onboarding, which the Company expects to recover. Deferred contract costs are amortized on a straight-line basis over the expected period of benefit, which the Company determined by considering historical attrition rates and other factors. Deferred contract costs are recorded in prepaid expenses and other current assets and other assets on the consolidated balance sheets. Amortization of deferred contract costs related to sales commissions is recognized in sales and marketing expense and amortization of deferred contract costs related to merchant onboarding is recognized in cost of revenue, exclusive of depreciation and amortization in the consolidated statements of operations. A summary of activities related to deferred contract costs was as follows (in millions):
 
Year Ended December 31,
 202320242025
Beginning balance$100 $137 $157 
Addition to deferred contract costs
82 80 111 
Amortization of deferred contract costs(45)(60)(77)
Ending balance$137 $157 $191 
Deferred contract costs, current$51 $64 $79 
Deferred contract costs, non-current86 93 112 
Total deferred contract costs$137 $157 $191 
Allowance for Credit Losses
The allowance for credit losses related to accounts receivable and changes were as follows (in millions):
Year Ended December 31,
202320242025
Beginning balance$20 $17 $22 
Current-period provision for expected credit losses
8 15 37 
Write-offs charged against the allowance(11)(10)(14)
Ending balance$17 $22 $45 
v3.26.1
Acquisitions
 12 Months Ended
Dec. 31, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Acquisitions Acquisitions
Deliveroo Acquisition
On October 2, 2025, the Company completed the acquisition of substantially all of the outstanding equity interests of Deliveroo plc (“Deliveroo”), which was accounted for under the acquisition method of accounting. The acquisition will strengthen the Company’s position as a leading global platform in local commerce by enhancing its capabilities to better serve consumers, merchants, and Dashers. The Company’s acquisition-related costs for the year ended December 31, 2025 were $58 million. All costs were recorded as general and administrative expenses on the Company’s consolidated statements of operations during the period in which they were incurred. The acquisition date fair value of the consideration transferred for Deliveroo was $3,724 million, which consisted of the following (in millions):
Fair Value
Consideration payable
$3,722 
Stock-based compensation awards attributable to pre-combination services
2 
Total purchase consideration
$3,724 
As of December 31, 2025, the Company had settled the consideration payable. In connection with the acquisition, substantially all of the outstanding and unvested equity awards of Deliveroo were replaced with DoorDash RSUs. The acquisition date fair value of the replacement equity awards was $80 million, of which $2 million is included in the purchase consideration.
The total purchase consideration of the Deliveroo acquisition was allocated to the tangible and intangible assets acquired, and liabilities assumed, based upon their respective fair values as of the date of the acquisition. The Company recorded $1,950 million of goodwill which represents the excess of the purchase price over the net assets acquired. Goodwill is primarily attributed to the assembled workforce and anticipated synergies from the potential future growth of the Company’s and Deliveroo’s platforms and the expected strategic advantages from combining the Company’s and Deliveroo’s geographical footprint and operations. The goodwill recorded in connection with the acquisition of Deliveroo is not deductible for tax purposes. The fair value of assets acquired and liabilities assumed are based on management’s best estimates, judgments and assumptions, and are considered preliminary and subject to change within the measurement period, as additional information is received. The Company expects to finalize the allocation of the purchase price as soon as practicable, but no later than one year from the acquisition date when the measurement period ends.
The following table summarizes the preliminary fair value of the assets acquired and liabilities assumed as of the acquisition date (in millions):
October 2, 2025
Current assets$1,217 
Intangible assets1,498 
Goodwill1,950 
Other non-current assets98 
Current liabilities(748)
Contingent liabilities
(102)
Deferred tax liability
(156)
Other non-current liabilities
(33)
Total
$3,724 
Acquired contingent liabilities relate to outstanding legal provisions and are measured in accordance with ASC 450, Contingencies.
The following table sets forth the components of intangible assets acquired (in millions) and their estimated useful life as of the date of acquisition (in years):
Estimated Useful LifeOctober 2, 2025
Restaurant merchant relationships
11$486 
Trade name
10297 
Customer relationships
4445 
New vertical merchant relationships
440 
Developed technology
2216 
Rider relationships
214
Total acquired intangible assets$1,498 
The restaurant merchant, new verticals merchant, customer, and rider relationship intangible assets represent the estimated fair value of Deliveroo’s established relationships with restaurant partners, grocery and retail merchants, consumers utilizing the platform, and courier partners that provide delivery services. The developed technology intangible asset represents Deliveroo’s proprietary software and applications that support the platform’s ordering, delivery, and logistics capabilities. The trade name intangible asset represents the estimated fair value of the Deliveroo brand and its market recognition. Restaurant merchant relationships were valued using the multi-period excess earnings method of the income approach. Merchant relationships related to new verticals were valued using a with-and-without method, measuring the incremental cash flows generated by these relationships compared to a scenario in which they did not exist. User and rider relationships were valued using a replacement cost method. The developed technology and trade name were valued using the relief-from-royalty method of the income approach. The Company expects to amortize these intangible assets on a straight-line basis over their respective estimated useful lives.
From the date of acquisition through December 31, 2025, the amount of revenue and net loss from Deliveroo included in the consolidated statements of operations were $347 million and $49 million, respectively.
The following unaudited pro forma results present the combined revenue and net income (loss) as if the Deliveroo acquisition had been completed on January 1, 2024, the beginning of the comparable annual reporting period. The unaudited pro forma information is based on estimates and assumptions which the Company believes are reasonable and primarily reflects adjustments for the pro forma impact of additional amortization related to the fair value of acquired intangible assets, accounting policy alignments, and transaction costs. The unaudited pro forma results are presented for informational purposes only and are not necessarily indicative of what the actual results of operations of the combined company would have been if the acquisition had occurred at the beginning of the periods presented, nor are they indicative of future results of operations. The unaudited pro forma results are as follows (in millions):
Year ended December 31,
20242025
Revenue
$11,984 $14,743 
Net income (loss)
(103)925 
SevenRooms Acquisition
On June 13, 2025, the Company completed the acquisition of 100 percent of the outstanding equity interests of SevenRooms Inc. (“SevenRooms”), which was accounted for under the acquisition method of accounting. The acquisition will enhance the Company's platform by equipping merchants with tools to manage reservations and tables, better connect with consumers through customer relationship management, and improve their marketing. The Company’s acquisition-related costs for the year ended December 31, 2025 were $13 million. All costs were recorded as general and administrative expenses on the Company’s consolidated statements of operations during the period in which they were incurred. The acquisition date fair value of the consideration transferred for SevenRooms was $1,152 million, which consisted of the following (in millions):
Fair Value
Cash
$902 
Deferred cash consideration
250 
Total consideration$1,152 

As of December 31, 2025, the Company had settled $201 million in deferred cash consideration, with $49 million remaining to be settled in future periods. For certain SevenRooms employees, a portion of their total consideration was held back subject to revesting. A total of $38 million of these employees’ holdback was included as part of the deferred cash consideration and the remaining $56 million represents compensation for post-combination services to be recognized over the service period.

The total purchase consideration of the SevenRooms acquisition was allocated to the tangible and intangible assets acquired, and liabilities assumed, based upon their respective fair values as of the date of the acquisition. The Company recorded $886 million of goodwill which represents the excess of the purchase price over the net assets acquired. Goodwill is primarily attributed to the assembled workforce of SevenRooms and anticipated synergies arising from potential future growth and an enhanced platform to help merchants serve their customers across all channels. The goodwill recorded in connection with the acquisition of SevenRooms is not deductible for tax purposes. The fair value of assets acquired and liabilities assumed are based on management’s best estimates, judgments and assumptions, and are considered preliminary pending finalization of the valuation analyses pertaining to assets acquired and liabilities assumed, which primarily relate to working capital accounts. The Company expects to finalize the allocation of the purchase price as soon as practicable, but no later than one year from the acquisition date when the measurement period ends.

The following table summarizes the preliminary fair value of the assets acquired and liabilities assumed as of the acquisition date (in millions):

June 13, 2025
Current assets$28 
Intangible assets365 
Goodwill886 
Other non-current assets2 
Current liabilities(106)
Deferred tax liability, net(23)
Total
$1,152 

The following table sets forth the components of intangible assets acquired (in millions) and their estimated useful lives as of the date of acquisition (in years):

Estimated Useful LifeJune 13, 2025
Existing technology6$139 
Strategic customer relationships
14165 
Other customer relationships
755 
Trade name
46 
Total acquired intangible assets$365 
Existing technology represents the online and mobile SevenRooms platform for reservations, table management, and guest engagement. The customer relationships represent the fair value of the underlying relationships with its customers, including strategic customers such as global hotel chains and casino resorts, and small and mid-size businesses. The estimated fair values of the developed technology and trade name were determined using the relief-from-royalty method of the income approach. The estimated fair values of the customer relationships were determined using the multi-period excess earnings method of the income approach. The Company expects to amortize the fair value of these intangible assets on a straight-line basis over their respective estimated useful lives.

From the date of acquisition through December 31, 2025, revenue and net loss attributable to SevenRooms, included in the Company’s consolidated statements of operations was not material. The pro forma information has not been presented as such information is also not material to the Company for the periods presented.
Symbiosys Acquisition
On May 28, 2025, the Company acquired Symbiosys Corp. (“Symbiosys”), a retail media platform company, to expand offsite advertising capabilities. The acquisition was accounted for under the acquisition method of accounting.
The acquisition date fair value of the purchase consideration was $121 million, which consisted of the following (in millions):
Fair Value
Cash
$89 
Deferred cash consideration29 
Fair value of previously held equity interest
3 
Total consideration$121 

As of December 31, 2025, the Company had settled $11 million in deferred cash consideration, with $18 million remaining to be settled in future periods. For certain Symbiosys employees, a portion of their total consideration was restricted subject to vesting over various service periods. A total of $14 million of these employees’ consideration was included as part of the deferred cash consideration and the remaining $53 million represents compensation for post-combination services to be recognized over their respective service periods.

The total purchase consideration was allocated to the tangible and intangible assets acquired and liabilities assumed, based upon their respective fair values as of the date of acquisition. The excess of the purchase consideration over the net assets acquired was recorded as goodwill. Goodwill is primarily attributable to the anticipated synergies from the planned expansion into additional digital channels to extend the breadth of the Company’s marketing channels. The goodwill recorded in connection with the acquisition of Symbiosys is not deductible for tax purposes. The fair value of assets acquired and liabilities assumed are based on management’s best estimates, judgments and assumptions, and are considered preliminary pending finalization of the valuation analyses pertaining to assets acquired and liabilities assumed. which primarily relate to working capital accounts. The measurement period will end no later than one-year from the acquisition date.

The following table summarizes the fair values of the assets acquired and liabilities assumed as of the acquisition date (in millions):

May 28, 2025
Current assets$7 
Intangible assets19 
Goodwill102 
Current liabilities
(5)
Other liabilities
(2)
Total
$121 

The intangible assets acquired consisted of existing technology of $17 million and customer relationships of $2 million, which had estimated useful lives of 4 and 3 years as of the date of the acquisition, respectively.
The acquisition was not material to the Company for the periods presented and therefore, pro forma information has not been presented.
Other Acquisition
During the three months ended March 31, 2025, the Company acquired a company, which was accounted for under the acquisition method of accounting. The total purchase consideration was approximately $28 million, which was allocated to the tangible and intangible assets acquired and liabilities assumed based upon their respective fair values as of the acquisition date. Intangible assets acquired were primarily composed of customer relationships and vendor relationships. Additionally, the Company recorded $21 million of goodwill, which represented the excess of the purchase price over the net assets acquired.
v3.26.1
Goodwill and Intangible Assets, Net
 12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets, Net Goodwill and Intangible Assets, Net
The changes in the carrying amount of goodwill for the periods presented were as follows (in millions):
Total
Balance as of December 31, 2023$2,432 
Effects of foreign currency translation(117)
Balance as of December 31, 20242,315 
Goodwill measurement period adjustments41 
Acquisitions
2,918 
Effects of foreign currency translation245 
Balance as of December 31, 2025$5,519 
There was no goodwill impairment during any of the periods presented. See Note 4 – "Acquisitions" of these notes to the Company's consolidated financial statements for further details of goodwill recorded.
Intangible assets, net consisted of the following as of December 31, 2024 (in millions):
Weighted-average
Remaining Useful
Life (in years)		Gross Carrying
Value		Accumulated
Amortization		Net Carrying
Value
Existing technology3.3$232 $(142)$90 
Merchant relationships8.3286 (82)204 
Customer relationships0.4116 (101)15 
Trade name and trademarks7.4269 (75)194 
Assembled workforce in asset acquisition2.210 (3)7 
Balance as of December 31, 2024$913 $(403)$510 
Intangible assets, net consisted of the following as of December 31, 2025 (in millions):
Weighted-average
Remaining Useful
Life (in years)		Gross Carrying
Value		Accumulated
Amortization		Net Carrying
Value
Existing technology3.1$622 $(222)$400 
Merchant relationships9.3854 (122)732 
Rider relationships
1.814 (2)12 
Customer relationships6.5798 (169)629 
Trade name and trademarks8.4602 (119)483 
Assembled workforce in asset acquisitions1.310 (6)4 
Balance as of December 31, 2025$2,900 $(640)$2,260 
Amortization expense associated with intangible assets was $127 million, $125 million, and $212 million for the years ended December 31, 2023, 2024, and 2025, respectively.
The estimated future amortization expense of intangible assets as of December 31, 2025 was as follows (in millions):
Year Ending December 31,
Amortization
Expense
2026$456 
2027424 
2028317 
2029267 
2030173 
Thereafter623 
Total estimated future amortization expense$2,260 
v3.26.1
Fair Value Measurements
 12 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
Fair Value Measurements Fair Value Measurements
Assets Measured at Fair Value on a Recurring Basis
The following tables set forth the Company’s cash equivalents and investments that were measured at fair value on a recurring basis by level within the fair value hierarchy (in millions):
 December 31, 2024
 Level 1Level 2Level 3Total
Cash equivalents
Money market funds$2,272 $— $— $2,272 
Commercial paper— 5 — 5 
U.S. Treasury securities— 15 — 15 
Short-term investments
Certificates of deposit— 39 — 39 
Commercial paper— 76 — 76 
Corporate bonds— 509 — 509 
U.S. government agency securities— 33 — 33 
U.S. Treasury securities— 612 — 612 
Mutual funds
53 — — 53 
Long-term investments
Commercial paper— 2 — 2 
Corporate bonds— 420 — 420 
U.S. government agency securities— 74 — 74 
U.S. Treasury securities— 339 — 339 
Total$2,325 $2,124 $— $4,449 
December 31, 2025
Level 1Level 2Level 3Total
Cash equivalents(1)
Money market funds$1,905 $— $— $1,905 
U.S. Treasury securities— 1 — 1 
Short-term investments(1)
Certificates of deposit— 25 — 25 
Commercial paper— 32 — 32 
Corporate bonds— 470 — 470 
U.S. government agency securities— 30 — 30 
U.S. Treasury securities— 361 — 361 
Mutual funds59 — — 59 
Long-term investments
Corporate bonds— 464 — 464 
U.S. government agency securities— 91 — 91 
U.S. Treasury securities— 282 — 282 
Other assets
Money market funds(2)
15 — — 15 
Non-marketable investment
— — 37 37 
Total$1,979 $1,756 $37 $3,772 
(1)Cash equivalents and short-term investments included $26 million and $151 million of time deposits, respectively, which are not subject to recurring fair value measurements.
(2)Other assets included $15 million of money market funds held in a trust account pursuant to certain insurance policies, which were recorded as long-term restricted cash equivalents.
The fair value of the Company’s Level 1 financial instruments is based on quoted market prices for identical instruments in active markets. The fair value of the Company’s Level 2 fixed income securities is obtained from independent pricing services, which may use quoted market prices for identical or comparable instruments in less active markets or model driven valuations using observable market data or inputs corroborated by observable market data.
As of December 31, 2025, the fair value of the non-marketable investment in convertible notes of a private company was approximately $37 million and was included in other assets on the consolidated balance sheet. The fair value determination is based on unobservable inputs (Level 3 on the fair value hierarchy) which reflect the best information available under the circumstances, including transaction pricing and market participant assumptions.
The fair value of the 2030 Notes (as defined in Note 9 - "Convertible Notes, Net") was determined based on the quote price in markets that are not active, which is considered a Level 2 valuation input. Refer to Note 9 - "Convertible Notes, Net" for the carrying amount and fair value of the 2030 Notes.
Assets Measured at Fair Value on a Non-Recurring Basis
The Company’s non-marketable equity securities accounted for using the measurement alternative are recorded at fair value on a non-recurring basis. When indicators of impairment exist or observable price changes in a same or similar security from the same issuer occur, the respective non-marketable equity security would be classified within Level 3 of the fair value hierarchy because the valuation methods include a combination of the observable transaction price at the transaction date and other unobservable inputs. Non-marketable equity securities are recorded in other assets on the consolidated balance sheets.
During the years ended December 31, 2023 and 2025, the Company made investments in non-marketable equity securities of $23 million, and $13 million, respectively. There were no investments in non-marketable equity securities during the year ended December 31, 2024. The following is a summary of unrealized gains and losses from upward or downward adjustments recorded in other income (expense), net in the consolidated statements of operations, and included as adjustments to the carrying value of non-marketable equity securities held during the years ended December 31, 2023, 2024, and 2025 (in millions):
Year Ended December 31,
202320242025
Upward adjustments$— $2 $16 
Downward adjustments (including impairment)(101)(6)(2)
Total unrealized gain (loss) for non-marketable equity securities
$(101)$(4)$14 
Estimating the fair value of the Company’s investments in non-marketable equity securities requires the use of estimates and judgments. Changes in estimates and judgments could result in different estimates of fair value and future adjustments.
The following table summarizes the carrying value of the Company's non-marketable equity securities as of December 31, 2024 and 2025 including impairments and cumulative upward and downward adjustments made to the initial cost basis of the securities, which were recorded in other expense, net in the consolidated statements of operations (in millions):
December 31,
20242025
Initial cost basis$450 $460 
Upward adjustments11 24 
Downward adjustments (including impairment)(419)(415)
Total carrying value at the end of reporting period$42 $69 
v3.26.1
Balance Sheet Components
 12 Months Ended
Dec. 31, 2025
Balance Sheet Related Disclosures [Abstract]  
Balance Sheet Components Balance Sheet Components
Cash Equivalents and Investments
The following tables summarize the cost or amortized cost, gross unrealized gain, gross unrealized loss, and fair value of the Company’s cash equivalents and investments (in millions):
 December 31, 2024
 Cost or
Amortized
Cost		UnrealizedEstimated
Fair
Value
 GainsLosses
Cash equivalents
Money market funds$2,272 $— $— $2,272 
Commercial paper5 — — 5 
U.S. Treasury securities15 — — 15 
Short-term investments
Certificates of deposit39 — — 39 
Commercial paper76 — — 76 
Corporate bonds508 1 — 509 
U.S. government agency securities33 — — 33 
U.S. Treasury securities611 1 — 612 
Mutual funds
53 — — 53 
Long-term investments
Commercial paper2 — — 2 
Corporate bonds420 1 (1)420 
U.S. government agency securities74 — — 74 
U.S. Treasury securities340 — (1)339 
Total$4,448 $3 $(2)$4,449 
 December 31, 2025
 Cost or
Amortized
Cost		UnrealizedEstimated
Fair
Value
 GainsLosses
Cash equivalents
Money market funds$1,905 $— $— $1,905 
U.S. Treasury securities1 — — 1 
Time deposits
26 — — 26 
Short-term investments
Certificates of deposit25 — — 25 
Commercial paper32 — — 32 
Corporate bonds469 1 — 470 
U.S. government agency securities30 — — 30 
U.S. Treasury securities360 1 — 361 
Mutual funds57 2 — 59 
Time deposits
151 — — 151 
Long-term investments
Corporate bonds463 1 — 464 
U.S. government agency securities91 — — 91 
U.S. Treasury securities281 1 — 282 
Total$3,891 $6 $— $3,897 
For investments with unrealized loss positions, the Company does not intend to sell these securities and it is more likely than not that the Company will hold these securities until maturity or a recovery of the cost basis. No allowance for credit losses was recorded for these securities as of December 31, 2024 and 2025.
Prepaid Expenses and Other Current Assets
Prepaid expenses and other current assets consisted of the following (in millions):
December 31, 2024December 31,
2025
Prepaid expenses $237 $414 
Deferred contract costs64 79 
Other receivables133 279 
Other current assets253 397 
Total$687 $1,169 
Property and Equipment, net
Property and equipment, net consisted of the following (in millions):
December 31, 2024December 31, 2025
Equipment for merchants$190 $235 
Computer equipment and software96 $126 
Capitalized software and website development costs1,339 $1,895 
Leasehold improvements211 $268 
Office equipment77 $149 
Construction in progress61 $48 
Total1,974 2,721 
Less: Accumulated depreciation and amortization(1,196)$(1,654)
Property and equipment, net$778 $1,067 
Depreciation expenses were $126 million, $118 million, and $165 million for the years ended December 31, 2023, 2024, and 2025, respectively.
The Company capitalized $362 million, $386 million, and $556 million in capitalized software and website development costs during the years ended December 31, 2023, 2024, and 2025, respectively. Capitalized software and website development costs are included in property and equipment, net on the consolidated balance sheets. Amortization of capitalized software and website development costs was $256 million, $318 million, and $370 million for the years ended December 31, 2023, 2024, and 2025, respectively. Construction in progress primarily included leasehold improvements on premises that are not ready for use and equipment for merchants that are not placed in service.
Accrued Expenses and Other Current Liabilities
Accrued expenses and other current liabilities consisted of the following (in millions):
December 31, 2024December 31, 2025
Litigation reserves$160 $263 
Sales tax payable and accrued sales and indirect taxes337 589 
Accrued operations related expenses446 502 
Accrued advertising142 170 
Dasher and merchant payable1,136 1,703 
Insurance reserves1,049 1,114 
Contract liabilities396 547 
Other383 757 
Total$4,049 $5,645 
v3.26.1
Leases
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Leases Leases
The Company leases its facilities under non-cancelable lease agreements which expire between 2026 and 2037. Certain of these arrangements have free rent, escalating rent payment provisions, lease renewal options, and tenant allowances. Under such arrangements, the Company recognizes a ROU asset and lease liability on the consolidated balance sheets. Lease costs are recognized on a straight-line basis over the non-cancelable lease term.
During the years ended December 31, 2024 and 2025, the Company ceased use of and made available for sublease certain corporate office spaces. As a result, the Company determined that the asset groups, which primarily consist of the related operating lease right-of-use assets and leasehold improvements, were impaired, and recognized an impairment charge of $83 million and $11 million recorded as general and administrative expenses during the years ended December 31, 2024 and 2025, respectively. The fair value of the asset groups was estimated using an income-approach based on estimated future cash flows expected to be derived from the office spaces based on current sublease market rent. As of December 31, 2025, the Company was continuing its efforts to sublease some of the spaces.
The components of lease costs related to the Company’s operating leases included in the consolidated statements of operations for the periods presented were as follows (in millions):
Year Ended December 31,
202320242025
Operating lease costs$108 $103 $118 
Short-term lease costs12 16 16 
Sublease income(3)(2)(5)
Total lease costs$117 $117 $129 
Lease terms and discount rates for operating leases were as follows:
December 31, 2024December 31, 2025
Weighted-average remaining lease term (in years)7.456.32
Weighted-average discount rate6.79%6.55%
Supplemental cash flow and non-cash information was as follows (in millions):
Year Ended December 31,
202320242025
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for operating leases$113 $116 $125 
ROU assets obtained in exchange for new lease liabilities
Operating leases$85 $81 $72 
As of December 31, 2025, the future minimum lease payments required under operating leases were as follows (in millions):
Year Ending December 31,Amount
2026$138 
2027117 
202899 
202986 
203078 
Thereafter192 
Total future minimum lease payments710 
Less: Imputed interest(138)
Less: Tenant improvement receivable(6)
Present value of future minimum lease payments$566 
Future minimum sublease income as of December 31, 2025 was $42 million.
v3.26.1
Convertible Notes, Net
 12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Convertible Notes, Net Convertible Notes, Net
2030 Notes

In May 2025, the Company issued $2.75 billion aggregate principal amount of —% Convertible Senior Notes due 2030 (the “2030 Notes”). The total proceeds from the issuance of the 2030 Notes, net of debt issuance costs, were approximately $2.72 billion.

The 2030 Notes are senior, unsecured obligations of the Company and will mature on May 15, 2030, unless earlier repurchased, redeemed, or converted, and are governed by the terms of an indenture (the "Indenture"), dated as of May 30, 2025, between the Company and U.S. Bank Trust Company, National Association, as trustee. The 2030 Notes do not bear regular cash interest. Special interest and additional interest, if any, may accrue on the 2030 Notes at a combined rate per annum not exceeding 0.50% upon the occurrence of certain events relating to the failure to file certain reports with the SEC or to remove certain restrictive legends from the 2030 Notes.

Holders of the 2030 Notes may convert all or any portion of their 2030 Notes at their option prior to November 15, 2029, under the following circumstances:

a.during any calendar quarter (and only during such calendar quarter) commencing after the calendar quarter ending on September 30, 2025, if the last reported sale price per share of the Company’s Class A common stock exceeds 130% of the conversion price for each of at least 20 trading days (whether or not consecutive) during the 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding calendar quarter;
b.during the 5 consecutive business days after any 10 consecutive trading day period in which the trading price per $1,000 principal amount of the 2030 Notes for each trading day of such 10-day period was less than 98% of the product of the last reported sale price per share of the Company’s Class A common stock and the conversion rate on each such trading day; or
c.upon the occurrence of specified corporate events or distributions on the Company’s Class A common stock, in each case, as set forth in the Indenture.

Holders of the 2030 Notes may also convert their 2030 Notes (i) if the Company calls such 2030 Notes for redemption; and (ii) at any time on or after November 15, 2029 until the close of business on the second scheduled trading day immediately before the maturity date.

Upon conversion of any 2030 Notes, the conversion value will be paid in cash up to at least the principal amount of the 2030 Notes being converted. Any amount of the conversion value in excess of the principal portion of such 2030 Notes may be settled in cash or shares of the Company’s Class A common stock, or a combination thereof, at the Company’s option. The 2030 Notes are convertible at an initial conversion rate of 3.425 shares of the Company's Class A common stock per $1,000 principal amount of the 2030 Notes, which is equivalent to an initial conversion price of approximately $291.97 per share of the Company's Class A common stock. The conversion rate may be subject to certain anti-dilution adjustments and/or a make-whole adjustment upon the occurrence of specified events set forth in the Indenture. As of December 31, 2025, there have been no changes to the initial conversion price of the 2030 Notes since the issuance date. Based on the closing price of the Company’s Class A common stock of $226.48 on the last trading day of the quarter, the if-converted value of the 2030 Notes did not exceed the principal value of the 2030 Notes as of December 31, 2025.

The Company may not redeem the notes prior to May 20, 2028. The 2030 Notes will be redeemable, in whole or in part (subject to certain limitations set forth in the Indenture), for cash, at the Company’s option, on or after May 20, 2028 and on or before the 20th scheduled trading day immediately before the maturity date, but only if (i) the 2030 Notes are “Freely Tradable” (as defined in the Indenture), and all accrued and unpaid additional interest, if any, has been paid as of the date the Company sends the related redemption notice and (ii) the last reported sale price per share of the Company’s Class A common stock exceeds 130% of the conversion price on each of at least 20 trading days (whether or not consecutive) including the last trading day, during the 30 consecutive trading days ending on, and including, the trading day immediately before the date the Company sends such redemption notice. The redemption price will be equal to 100% of the principal amount of the 2030 Notes to be redeemed, plus accrued and unpaid special interest and additional interest, if any, to, but excluding, the redemption date. In addition, calling any 2030 Notes for redemption will constitute a "Make-Whole Fundamental Change" (as defined in the Indenture) with respect to such 2030 Notes, in which case the conversion rate applicable to the conversion of such 2030 Notes will be increased in certain circumstances if it is converted after it is called for redemption.
If the Company undergoes a “Fundamental Change” (as defined in the Indenture), then holders of the 2030 Notes may require the Company to repurchase for cash all or any portion of their 2030 Notes at a repurchase price equal to 100% of the principal amount of the 2030 Notes to be repurchased, plus accrued and unpaid special interest and additional interest, if any, to, but excluding, the fundamental change repurchase date.

The Indenture contains customary events of default and limited covenants. No sinking fund is required to be provided for the 2030 Notes.

As of December 31, 2025, none of the conditions described in the paragraphs above relating to convertibility or mandatory redemption were met. Therefore, the 2030 Notes are classified as long-term debt.

The net carrying value, net of the 2030 Notes consisted of the following as of December 31, 2025 (in millions):

December 31, 2025
Principal
$2,750 
Less: debt issuance costs, net of amortization
(26)
Carrying value, net$2,724 

The effective interest rate of the 2030 Notes is 0.22% per annum. The fair value of the 2030 Notes was $2.9 billion as of December 31, 2025 and was determined based on the quote price in markets that are not active, which is considered a Level 2 valuation input.

2030 Note Hedges and Warrant Transactions

In May 2025, in connection with the offering of the 2030 Notes, the Company entered into privately negotiated convertible note hedge transactions whereby the Company has the option to purchase an initial total of approximately 9.4 million shares of its Class A common stock at an initial strike price of approximately $291.97 per share (the “Note Hedges”). The total cost of the Note Hedges was approximately $680 million.

In addition, the Company sold warrants whereby the holders of the warrants have the option to purchase an initial total of approximately 9.4 million shares of the Company’s Class A common stock at an initial strike price of $512.225 per share (the “Warrants”). The Company received approximately $341 million in cash proceeds from the sale of the Warrants.

Both the number of shares underlying the Note Hedges and the Warrants and the strike prices of the instruments are subject to customary anti-dilution adjustments. The Note Hedges are expected generally to reduce potential dilution to the Company's Class A common stock upon the conversion of any 2030 Notes and/or offset any cash payments the Company is required to make in excess of the principal amount of any converted 2030 Notes, as the case may be, to the extent the market price per share of the Company’s Class A common stock exceeds the then-applicable strike price of the Note Hedges. The Warrants may separately have a dilutive effect with respect to the Company’s Class A common stock to the extent the market price per share of the Company’s Class A common stock exceeds the then-applicable strike price of the Warrants, unless the Company elects, subject to certain conditions, to settle the Warrants in cash.

The Note Hedges and the Warrants are equity-classified instruments as a result of being indexed to the Company’s Class A common stock and meeting equity classification criteria, and the instruments will not be remeasured in subsequent periods as long as they continue to meet these accounting criteria. The net cost of approximately $339 million for the purchase of the Note Hedges and sale of the Warrants was recorded as a reduction to additional paid-in capital in the Company’s consolidated balance sheets.
v3.26.1
Commitments and Contingencies
 12 Months Ended
Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies Commitments and Contingencies
Legal Proceedings
From time to time, the Company is a party to litigation and subject to claims incidental to its business. Although the results of litigation and claims cannot be predicted with certainty, the Company currently believes that the final outcome of ongoing matters will not have a material adverse effect on its business. Regardless of the outcome, litigation can have an adverse impact on the Company because of judgment, defense and settlement costs, diversion of management resources, and other factors. At each reporting period, the Company evaluates whether or not a potential loss amount or a potential range of loss is probable and reasonably estimable, requiring recognition of a loss accrual, or whether the potential loss is reasonably possible, requiring potential disclosure. Legal fees are expensed as incurred.
The Company is currently the subject of regulatory and administrative investigations, audits, demands, and inquiries conducted by federal, state, or local governmental agencies concerning the Company’s business practices, the classification and compensation of Dashers, the DoorDash Dasher pay models, compliance with consumer protection laws, privacy, cybersecurity, tax issues, unemployment insurance, workers' compensation insurance, and other matters. For example, the Company is currently under audit by the Employment Development Department, State of California (the “CA EDD”) for payroll tax liabilities. In January 2023, the CA EDD issued an assessment for certain amounts that it found to be owed by the Company on behalf of Dashers due to their being classified as independent contractors. The Company believes that Dashers are, and have been, properly classified as independent contractors. Accordingly, the Company believes that it has meritorious defenses and intends to vigorously appeal such adverse assessment. However, the ultimate resolution of the audit is uncertain and, accordingly, the Company has recorded an accrual for this matter within accrued expenses and other current liabilities on the consolidated balance sheets as of December 31, 2025. The results of investigations, audits, demands, and inquiries and related governmental action are inherently unpredictable and, as such, there is always the risk of an investigation, audit, demand, or inquiry having a material impact on the Company's business, financial condition, and results of operations.
In June 2020, the San Francisco District Attorney filed an action in the Superior Court of California, County of San Francisco, alleging that the Company misclassified California Dashers as independent contractors as opposed to employees in violation of the California Labor Code and the California Unfair Competition Law, among other allegations. This action was resolved in September 2025 for $2 million and no injunctive relief.
Indemnification
The Company enters into standard indemnification arrangements in the ordinary course of business. Pursuant to these arrangements, the Company agrees to indemnify, hold harmless, and reimburse the indemnified parties for losses suffered or incurred by the indemnified party, in connection with any trade secret, copyright, patent, or other intellectual property infringement claim by any third party with respect to the Company's technology. The terms of these indemnification agreements are generally perpetual any time after the execution of the agreement.
In addition, the Company has entered into indemnification agreements with its directors and officers that may require the Company to indemnify its directors and officers against liabilities that may arise by reason of their status or service as directors or officers of the Company, other than liabilities arising from willful misconduct of the individual.
The maximum potential amount of future payments the Company could be required to make under these agreements is not determinable because it involves claims that may be made against the Company in the future, but have not yet been made. The Company has not incurred costs to defend lawsuits or settle claims related to these indemnification agreements. No liability associated with such indemnifications was recorded as of December 31, 2024 and 2025.
Non-cancelable Purchase Commitments
The Company has non-cancelable purchase commitments, which primarily relate to the purchase of technology platform infrastructure. These purchase commitments are not recorded as liabilities on the consolidated balance sheet as of December 31, 2025 as the Company has not yet received the related services. As of December 31, 2025, the future minimum payments under the Company’s non-cancelable purchase commitments were as follows (in millions):
Year Ending December 31,
Amount
2026$1,049 
20271,090 
20281,020 
20291,054 
20301,087 
Total future minimum payments$5,300 
Insurance Collateral
The Company is required to maintain $607 million in collateral in connection with certain insurance policies, which can be held in a combination of cash, surety bonds, and letters of credit. As of December 31, 2025, the Company had $607 million of collateral outstanding in the form of surety bonds and letters of credit in connection with the insurance collateral requirement.
Revolving Credit Facility and Letters of Credit
In November 2019, the Company entered into a revolving credit and guaranty agreement, which, as most recently amended and restated on April 26, 2024, provides for an unsecured revolving credit facility of up to $800 million, with a letter of credit sublimit of $600 million, maturing on April 26, 2029. Loans under the revolving credit facility bear interest at the Company’s option, at (i) a base rate equal to the highest of (A) the prime rate, (B) the higher of the federal funds rate or a composite overnight bank borrowing rate plus 0.50%, or (C) an adjusted term Secured Overnight Financing Rate ("SOFR") rate for a one-month interest period plus 1.00%, or (ii) an adjusted SOFR rate (based on an interest period of one, three, or six months) plus a margin equal to 1.00%. The Company is also obligated to pay other customary fees for a credit facility of this size and type, including letter of credit fees, an upfront fee, and an unused commitment fee of 0.10%. The Company's obligations under the revolving credit facility are guaranteed by certain of its domestic subsidiaries meeting materiality thresholds set forth in the credit agreement. The credit agreement contains customary affirmative covenants and customary negative covenants that restrict the Company's ability and its subsidiaries’ ability to, among other things, incur subsidiary indebtedness, grant liens, declare cash dividends or make certain other distributions, repurchase stock, merge or consolidate with other companies or sell substantially all of the assets of the Company and its subsidiaries, taken as a whole, make investments and loans, and engage in certain transactions with affiliates. The Company must also maintain compliance with a maximum senior net leverage ratio, measured quarterly, determined in accordance with the terms of the credit agreement.
As of December 31, 2024 and 2025, the Company was in compliance with the covenants under the credit agreement. As of December 31, 2024 and 2025, no revolving loans were outstanding under the credit facility.
In addition to the letters of credit maintained in connection with the insurance collateral requirement, the Company also maintains letters of credit established primarily for real estate leases and insurance policies. As of December 31, 2024 and 2025, the Company had $141 million and $106 million of issued letters of credit outstanding, respectively, of which $112 million and $61 million, respectively, were issued from the revolving credit and guaranty agreement.
Deliveroo Transaction
On May 6, 2025, the Company issued an announcement (the “Rule 2.7 Announcement”) pursuant to Rule 2.7 of the UK City Code on Takeovers and Mergers (the "Code"), disclosing that the board of directors of the Company and the board of directors of Deliveroo, a company incorporated in England and Wales, had reached agreement on the terms of a recommended final cash offer by the Company for the entire issued and to be issued share capital of Deliveroo (the "Deliveroo Transaction"). Deliveroo has built one of the leading local commerce platforms across its key geographies, primarily in Europe and the Middle East, all complementary to the Company’s then-current footprint. The purchase price was 180 pence per Deliveroo share in cash, which equated to an equity value of approximately £2.8 billion. On October 2, 2025, the Company completed the Deliveroo Transaction. See Note 4 - “Acquisitions” for further information on the closing of the Deliveroo Transaction.
Escrow Agreement
In connection with the Deliveroo Transaction and prior to the Rule 2.7 Announcement, the Company, JPMorgan Chase Bank, N.A., as escrow agent (the “Escrow Agent”), and J.P. Morgan Securities plc entered into an Escrow Agreement (the “Escrow Agreement”). Pursuant to the Escrow Agreement, the Company periodically deposited cash denominated in U.S. dollars into escrow in order to fund the cash consideration payable in connection with the Deliveroo Transaction and to satisfy certain requirements pursuant to the Code to evidence certainty of funding for the Deliveroo Transaction (such requirements, the "Cash Confirmation Requirements"). In connection with the closing of the Deliveroo Transaction on October 2, 2025, the Company converted $3.8 billion of the cash held in escrow from U.S. dollars into Pounds Sterling (“GBP”) pursuant to the Deal-Contingent Forward (as defined in Note 16 - "Derivative").
Bridge Term Loan Credit and Guaranty Agreement
In connection with the Deliveroo Transaction, the Company entered into a Bridge Term Loan Credit and Guaranty Agreement (the “Bridge Credit Agreement”) with J.P. Morgan Chase Bank, N.A. on May 6, 2025 to provide the Company certain borrowings in an aggregate amount of up to $2.85 billion, consisting of (i) $1.50 billion of tranche A commitments (the "Tranche A Commitments") and (ii) $1.35 billion of tranche B commitments (the "Tranche B Commitments").
Pursuant to the terms of the Bridge Credit Agreement and effective as of June 10, 2025, the Tranche A Commitments were automatically reduced in full and terminated. On July 15, 2025, the Company voluntarily reduced in full and terminated the Tranche B Commitments under the Bridge Credit Agreement. After giving effect to such reductions, no
commitments remained outstanding under the Bridge Credit Agreement and the Bridge Credit Agreement was terminated in accordance with its terms.
Sales and Indirect Tax Matters
The Company records sales and indirect tax liabilities as they become probable and the amount can be reasonably estimated. These reserves are included in accrued expenses and other current liabilities on the consolidated balance sheets. The Company is under audit by various state, local, and foreign tax authorities with regard to sales and indirect tax matters. The timing of the resolution of indirect tax examinations is highly uncertain, and the amounts ultimately paid, if any, upon resolution of the issues raised by the tax authorities may differ from the amounts accrued.
v3.26.1
Common Stock
 12 Months Ended
Dec. 31, 2025
Equity [Abstract]  
Common Stock Common Stock
Stock Repurchase Program
In February 2025, the Company announced the authorization of a share repurchase program for the repurchase of shares of its Class A common stock in an aggregate amount of up to $5.0 billion, which is inclusive of the remaining share repurchase authority of $876 million under the share repurchase program that was previously announced by the Company in February 2024. During the year ended December 31, 2025, the Company did not repurchase any shares of its Class A common stock under the share repurchase program.
Restricted Stock
The Company granted restricted stock to certain continuing employees in connection with the acquisition of Wolt Enterprises Oy on May 31, 2022. Vesting of this stock is dependent on the respective employee’s continued employment at the Company during the requisite service period, which is generally up to four years from the issuance date. The fair value of the restricted stock issued to employees that is subject to post-acquisition employment is recorded as compensation expense on a straight-line basis over the requisite service period.
The activities for the restricted stock issued to employees was as follows (in thousands, except per share data):
Number of
Shares		Weighted-
Average
Grant Date
Fair Value Per Share
Unvested restricted stock as of December 31, 202492 
Granted— $— 
Vested(18)$76.91 
Forfeited— $— 
Unvested restricted stock as of December 31, 202574 
Common Stock Reserved for Future Issuance
The following table summarizes the Company’s shares of common stock reserved for future issuance on an as-converted basis (in thousands):
December 31, 2024December 31, 2025
Stock options issued and outstanding under the 2014 Plan and Inducement Plan4,516 2,411 
RSUs outstanding under the 2014 Plan, 2020 Plan and Inducement Plan29,566 24,031 
Remaining shares available for future issuance64,481 78,539 
Shares available for issuance under the 2020 Employee Stock Purchase Plan6,499 6,499 
Total105,062 111,480 
2014 Equity Incentive Plan
In March 2014, the Company adopted the 2014 Stock Option Plan, as amended (the "2014 Plan"), which provided for the granting of stock options to employees, consultants, and advisors of the Company. Options granted under the 2014 Plan
are either incentive stock options or nonqualified stock options. Options under the 2014 Plan were granted for a term of up to ten years (or five years if the option was an incentive stock option granted to a greater than 10% stockholder) and at prices no less than 100% of the estimated fair value of the shares on the date of grant as determined by the Company’s board of directors; provided, however, that the exercise price of an incentive stock option granted to a greater than 10% stockholder could not be less than 110% of the estimated fair value of the shares on the date of grant. Options granted generally vested over four years.
The 2014 Plan allowed for the early exercise of options. Under the terms of the 2014 Plan, option holders, upon early exercise, were required to sign a restricted stock purchase agreement that gave the Company the right to repurchase any unvested shares, at the original exercise price, in the event the grantees’ employment terminated for any reason. The repurchase right lapsed over time as the shares vested at the same rate as the original option vesting schedule. Stock-based awards forfeited, cancelled, or repurchased generally were returned to the pool of shares of common stock available for issuance.
In connection with the IPO, the 2014 Plan was terminated effective immediately prior to the effectiveness of the 2020 Equity Incentive Plan (the "2020 Plan") and the Company ceased granting any additional awards under the 2014 Plan. All outstanding awards under the 2014 Plan at the time of the termination of the 2014 Plan remain subject to the terms of the 2014 Plan, and any shares underlying stock options that expire or terminate or are forfeited or repurchased by the Company under the 2014 Plan were automatically transferred to the 2020 Plan.
2020 Equity Incentive Plan
In November 2020, the Company's board of directors adopted, and the Company's stockholders approved, the 2020 Plan, which became effective one business day prior to the effective date of the IPO registration statement. The 2020 Plan provides for the granting of incentive stock options, nonstatutory stock options, restricted stock, RSUs, stock appreciation rights, performance units, and performance shares for the Company's Class A common stock to the Company's employees, directors, and consultants. Stock-based awards under the 2020 Plan that expire or are forfeited, cancelled, or repurchased generally are returned to the pool of shares of Class A common stock available for issuance under the 2020 Plan. In addition, the number of shares of the Company's Class A common stock reserved for issuance under the 2020 Plan will automatically increase on January 1 of each calendar year, starting on January 1, 2021 in an amount equal to the least of (i) 32,493,000 shares, (ii) five percent (5%) of the total number of all classes of common stock outstanding on December 31 of the fiscal year before the date of each automatic increase, or (iii) such other number of shares determined by the Company's board of directors prior to the applicable January 1.
The exercise price of the options granted under the 2020 Plan will at least be equal to the fair market value of the Company's Class A common stock on the date of grant. The options may be granted for a term of up to ten years (or five years if the option is an incentive stock option granted to a greater than 10% stockholder) and at prices no less than 100% of the fair market value of the shares on the date of grant, provided, however, that the exercise price of an incentive stock option granted to a greater than 10% stockholder shall not be less than 110% of the estimated fair value of the shares on the date of grant. Options granted under the 2020 Plan generally vest over four years.
2022 Inducement Equity Incentive Plan
In May 2022, the Company's board of directors adopted the 2022 Inducement Equity Incentive Plan (the “Inducement Plan”), pursuant to which the Company reserved 9,760,000 shares of Class A common stock to be used exclusively for grants of equity-based awards to individuals who were not previously employees or directors of the Company, as a material inducement to the individual’s entry into employment with the Company. The Inducement Plan permits the grant of nonstatutory stock options, restricted stock, RSUs, stock appreciation rights, performance units and performance shares. Shares that actually have been issued under the Inducement Plan under any award will not be returned to the Inducement Plan and will not become available for future distribution under the Inducement Plan; however, if shares issued pursuant to awards of restricted stock, RSUs, performance shares or performance units are repurchased by the Company or are forfeited to the Company due to failure to vest, such shares will become available for future grant under the Inducement Plan. Shares used to pay the exercise price of an award or to satisfy the tax withholding obligations related to an award will become available for future grant or sale under the Inducement Plan. The exercise price, term, and any other terms and conditions of the options granted under the Inducement Plan will be determined by the administrator of the plan.
RSUs
The Company generally grants RSUs that vest only upon the satisfaction of a service-based vesting condition, which is generally four years. Stock-based compensation expense is recognized on a straight-line basis over the requisite service period.
CEO Performance Award
In November 2020, the Company’s board of directors approved the grant of 10,379,000 RSUs to the CEO (the “CEO Performance Award”). The CEO Performance Award vests upon the satisfaction of a service condition and achievement of certain stock price goals. The CEO Performance Award is excluded from Class A common stock issued and outstanding until the satisfaction of these vesting conditions. The CEO Performance Award also provides the holder with certain stockholder rights, such as the right to vote the shares with the other holders of Class A common stock and a right to cumulative declared dividends. However, the CEO Performance Award is not considered a participating security for purposes of calculating net loss per share attributable to common stockholders as the right to the cumulative declared dividends is forfeitable if the service condition is not met.
The CEO Performance Award is eligible to vest beginning on the first trading day 18 months following the Company’s IPO date, and expiring seven years after the IPO date. The CEO Performance Award comprises nine tranches that are eligible to vest based on the achievement of stock price goals, ranging from $187.60 to $501.00 per share, each of which are referred to as a Company Stock Price Target, measured over a consecutive 180-day period during the performance period as set forth below. This measurement period was designed to reward the CEO only if the Company achieved sustained growth in the stock price.
Company Stock 
Price Target		Number of RSUs
Eligible to Vest
1$187.60518,950
2$226.80518,950
3$265.801,037,900
4$305.001,037,900
5$344.001,037,900
6$383.001,556,850
7$422.201,556,850
8$461.201,556,850
9$501.001,556,850
The Company calculated the grant date fair value of the CEO Performance Award based on multiple stock price paths developed through the use of a Monte Carlo simulation model. A Monte Carlo simulation model also calculates a derived service period for each of the nine vesting tranches, which is the measure of the expected time to achieve each Company Stock Price Target. A Monte Carlo simulation model requires the use of various assumptions, including the underlying stock price, volatility, and the risk-free interest rate as of the valuation date, corresponding to the length of time remaining in the performance period, and expected dividend yield. The weighted-average grant date fair value of the CEO Performance Award was $39.8275 per share. The Company recognized total stock-based compensation expense of $413 million over the derived service period of each tranche, which ranged from 2.53 to 4.42 years, using the accelerated attribution method, as the CEO satisfied the service-based vesting condition. If the Company Stock Price Targets are met sooner than the derived service period, the Company will adjust its stock-based compensation to reflect the cumulative expense associated with the vested awards. Provided that Tony Xu continues to be the Company's CEO, the Company will recognize stock-based compensation expense over the requisite service period, regardless of whether the Company Stock Price Targets are achieved. During the year ended December 31, 2025, the first and second tranches of the CEO Performance Award, representing 518,950 shares each, vested upon achievement of the first and second stock price targets of $187.60 and $226.80, respectively, measured over a consecutive 180-day period prior to achievement.
The Company recorded $104 million, $67 million, and $7 million of stock-based compensation expense related to the CEO Performance Award during the years ended December 31, 2023, 2024, and 2025, respectively. As of December 31, 2025, there was no remaining unrecognized stock-based compensation expense related to the CEO Performance Award.
Stock Award Activities
A summary of activity under the 2014 Plan, 2020 Plan, and Inducement Plan was as follows (in millions, except share amounts which are reflected in thousands, and per share data):
Options Outstanding
Shares
subject to
Options
Outstanding		Weighted-
Average
Exercise
Price		Weighted-
Average
Remaining
Contractual
Term
(in years)		Aggregate
Intrinsic
Value
Balance as of December 31, 20244,516 $5.72 3.18$732 
Granted— $— 
Exercised(2,104)$4.59 $441 
Cancelled and forfeited(1)$4.62 
Balance as of December 31, 20252,411 $6.70 2.37$530 
Exercisable as of December 31, 20252,374 $6.75 2.39$522 
Vested and expected to vest as of December 31, 20252,411 $6.70 2.37$530 
The aggregate intrinsic value disclosed in the above table is based on the difference between the exercise price of the stock option and the closing stock price of the Company's Class A common stock on the Nasdaq Stock Market as of the respective year-end dates. The aggregate intrinsic value of stock options exercised during the years ended December 31, 2023, 2024, and 2025 was $510 million, $580 million, and $441 million, respectively. There were no stock options granted during the years ended December 31, 2023, 2024, and 2025.
A summary of RSU activity was as follows (in millions, except share amounts which are reflected in thousands, and per share data):
Number of
Shares		Weighted-
Average
Grant Date
Fair Value		Aggregate
Intrinsic
Value
Unvested RSUs as of December 31, 202429,535 $4,955 
Granted, including replacement awards for acquisition9,143 $195.33 
Vested(60)$80.34 
Vested and settled(12,446)$99.98 
Forfeited(2,211)$114.55 
Unvested RSUs as of December 31, 202523,961 $5,427 
The aggregate intrinsic value disclosed in the above table is based on the closing stock price of the Company's Class A common stock on the Nasdaq Stock Market as of the respective year-end dates. The weighted-average fair value per share of RSUs granted, including replacement awards for acquisition, during the years ended December 31, 2023, 2024, and 2025 was $65.06, $128.17, and $195.33, respectively.
Stock-Based Compensation Expense
The Company recorded stock-based compensation expense in the consolidated statements of operations as follows (in millions):
Year Ended December 31,
202320242025
Cost of revenue, exclusive of depreciation and amortization$139 $151 $154 
Sales and marketing119 117 107 
Research and development466 505 527 
General and administrative364 326 263 
Total stock-based compensation expense$1,088 $1,099 $1,051 
As of December 31, 2025, there was $99 thousand of unrecognized stock-based compensation expense related to unvested stock options, which is expected to be recognized over the remaining weighted-average period of 0.33 years.
As of December 31, 2025, there was $1.9 billion of unrecognized stock-based compensation expense related to unvested restricted stock and RSUs. The Company expects to recognize this expense over the remaining weighted-average period of 2.31 years.
2020 Employee Stock Purchase Plan
The Company's board of directors adopted, and the Company's stockholders approved, the 2020 Employee Stock Purchase Plan (the "ESPP"), which became effective on the business day immediately prior to the effectiveness of the IPO. A total of 6,498,600 shares of Class A common stock were initially reserved for sale under the ESPP. The number of shares of Class A common stock available for issuance under the ESPP will be increased on the first day of each fiscal year beginning with the fiscal year following the fiscal year in which the first enrollment date (if any) occurs equal to the least of (i) 6,498,600 shares of Class A common stock, (ii) one and one-half percent (1.5%) of the outstanding shares of all classes of common stock on the last day of the immediately preceding fiscal year, or (iii) an amount determined by the administrator of the ESPP.
The ESPP includes two components: a component that allows the Company to make offerings intended to qualify under Section 423 of the Code and a component that allows the Company to make offerings not intended to qualify under Section 423 of the Code to designated companies. Subject to any limitations contained therein, the ESPP allows eligible employees to contribute (in the form of payroll deductions or otherwise to the extent permitted by the administrator) an amount established by the administrator from time to time in its discretion to purchase Class A common stock at a discounted price per share.
As of December 31, 2024 and 2025, there had been no offering period or purchase period under the ESPP, and no such period will begin unless and until determined by the administrator.
v3.26.1
Income Taxes
 12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
The components of income (loss) before income taxes were as follows (in millions):
 
Year Ended December 31,
 202320242025
United States$259 $925 $1,637 
Foreign(793)(769)(698)
Income (loss) before income taxes$(534)$156 $939 
The components of provision for income taxes were as follows (in millions):
Year Ended December 31,
202320242025
Current
Federal$6 $5 $(1)
State9 6 9 
Foreign17 27 36 
Total
$32 $38 $44 
Deferred
Federal1 1 (12)
State— — (11)
Foreign(2)— (14)
Total
(1)1 (37)
Total provision for income taxes
$31 $39 $7 
Below is a tabular rate reconciliation pursuant to the disclosure requirements of ASU 2023-09 for the year ended December 31, 2025.
The items accounting for differences between income taxes computed at the federal statutory rate and the provision recorded for income taxes were as follows (in millions, except percentages):
Year Ended December 31,
2025
Amount Percent
Provision for income taxes at U.S. federal statutory rate$197 21 %
State and local income taxes, net of federal income tax effect(1)
(15)(2)%
Foreign tax effects
Finland
Stock-based compensation(30)(3)%
Changes in valuation allowance166 18 %
Other(3)— %
Other countries22 2 %
Effect of cross-border tax laws
U.S. taxation of foreign branches(183)(20)%
Tax credits
Research and development tax credits(135)(14)%
Changes in valuation allowance100 11 %
Nontaxable or nondeductible items
Stock-based compensation(207)(22)%
Transaction costs16 2 %
Other8 1 %
Changes in unrecognized tax benefits69 7 %
Other adjustments2 — %
Provision for income taxes$7 1 %
(1)State tax benefits in California made up the majority (greater than 50%) of the tax effect in this category.
As previously disclosed for the years ended December 31, 2023 and 2024, prior to the adoption of ASU 2023-09, the effective income tax rate differs from the statutory federal income tax rate as follows (in millions):
Year Ended December 31,
20232024
Income taxes computed at the federal statutory rate$(112)$33 
State taxes, net of federal benefits7 5 
Tax impact of foreign earnings and losses 181 (23)
Change in valuation allowance47 292 
Stock-based compensation(59)(174)
Research and development credits(44)(106)
Non-deductible expenses9 13 
Other2 (1)
Provision for income taxes$31 $39 
The components of deferred tax assets and liabilities were as follows (in millions):
December 31,
20242025
Deferred tax assets
Loss carryovers$808 $1,839 
Tax credits 376 539 
Capitalized research and development886 589 
Stock-based compensation54 65 
Lease liabilities149 157 
Accruals and reserves360 455 
Other 112 265 
Total gross deferred tax assets2,745 3,908 
Less: Valuation allowance(2,352)(3,197)
Total deferred tax assets net of valuation allowance393 711 
Deferred tax liabilities
Property and equipment and intangible assets(224)(661)
Lease assets (111)(120)
Prepaid expenses and other assets(62)(71)
Total gross deferred tax liabilities(397)(852)
Net deferred tax liabilities$(4)$(141)
Due to the weight of objectively verifiable negative evidence, including its history of losses, the Company’s deferred tax assets have been fully offset by a valuation allowance, with the exception of certain foreign jurisdictions. Overall, the valuation allowance increased by $203 million, $494 million, and $845 million in the years ended December 31, 2023, 2024, and 2025, respectively. As of December 31, 2025, the portion of the valuation allowance for deferred tax assets for which subsequently recognized tax benefits will be credited directly to contributed capital was $170 million.
As of December 31, 2025, the Company had accumulated U.S. federal and state net operating loss carryforwards of $3.1 billion and $1.6 billion, respectively. Federal net operating losses carry forward indefinitely. Of the $1.6 billion of state net operating losses, $225 million carry forward indefinitely. The remaining state net operating loss carryforwards will begin to expire in 2026. As of December 31, 2025, the Company had foreign net operating loss carryforwards of $4.5 billion that begin to expire in 2026.
The Company also had $558 million and $279 million of federal and state research and development tax credit carryforwards, respectively, as of December 31, 2025. The federal research and development tax credits expire in varying amounts starting in 2041. The California research credits do not expire and carry forward indefinitely.
The Company’s ability to utilize the U.S. net operating loss and tax credit carryforwards in the future may be limited in the event of past or future ownership changes as defined in Section 382 and 383 of the Internal Revenue Code of 1986, as amended, and similar state tax law. Based on the most recent analysis, the Company does not anticipate a current limitation on the tax attributes under Section 382 and 383.
The Company intends to invest substantially all of its foreign subsidiary earnings, as well as its capital in its foreign subsidiaries, indefinitely in those jurisdictions in which the Company could incur significant, additional costs upon repatriation of such amounts.
Unrecognized Tax Benefits
A reconciliation of the beginning and ending balance of gross unrecognized tax benefits is included in the table below (in millions):
Year Ended December 31,
202320242025
Unrecognized tax benefits at beginning of year$69 $183 $275 
Increases related to current year tax positions47 64 66 
Increases related to prior year tax positions67 28 9 
Decreases related to prior year tax positions— — — 
Unrecognized tax benefits at end of year$183 $275 $350 
The Company had $350 million of gross unrecognized tax benefits as of December 31, 2025, the majority of which would not impact its effective tax rate if recognized due to the Company's valuation allowance.
The Company is subject to taxation in the U.S. and various state and foreign jurisdictions. The material jurisdictions in which the Company operates include the United States and Finland. The Company’s 2013 and subsequent tax years remain open to examination by the U.S. Internal Revenue Service. The Company’s 2019 and subsequent tax years remain open to examination in Finland.
v3.26.1
Net Income (Loss) per Share Attributable to DoorDash, Inc. Common Stockholders
 12 Months Ended
Dec. 31, 2025
Earnings Per Share [Abstract]  
Net Income (Loss) per Share Attributable to DoorDash, Inc. Common Stockholders Net Income (Loss) per Share Attributable to DoorDash, Inc. Common Stockholders
The Company computes net income (loss) per share attributable to DoorDash, Inc. common stockholders using the two-class method required for multiple classes of common stock and participating securities. The rights, including the liquidation and dividend rights, of the Class A common stock and Class B common stock are identical, other than voting rights. Accordingly, the Class A common stock and Class B common stock share equally in the Company’s net income and losses. The computation of diluted net income per share of Class A common stock for the years ended December 31, 2024 and 2025 does not assume the conversion of Class B common stock to Class A common stock because including such shares would have an anti-dilutive effect.
The following table sets forth the calculation of basic and diluted net income (loss) per share attributable to DoorDash, Inc. common stockholders during the periods presented (in millions, except share amounts which are reflected in thousands, and per share data):
Year Ended December 31,
202320242025
Class AClass BClass AClass BClass AClass B
Basic net income (loss) per share
Numerator
Net income (loss) including redeemable non-controlling interests$(525)$(40)$109 $8 $878 $54 
Less: Net loss attributable to redeemable non-controlling interests(7)— (6)— (3)— 
Net income (loss) attributable to DoorDash, Inc. common stockholders(518)(40)115 8 881 54 
Denominator
Weighted-average number of shares outstanding used to compute basic net income (loss) per share attributable to DoorDash, Inc. common stockholders365,340 27,608 384,692 26,859 402,075 24,968 
Basic net income (loss) per share attributable to DoorDash, Inc. common stockholders$(1.42)$(1.42)$0.30 $0.30 $2.19 $2.19 
Year Ended December 31,
202320242025
Class AClass BClass AClass BClass AClass B
Diluted net income (loss) per share
Numerator
Net income (loss) attributable to DoorDash, Inc. common stockholders$(518)$(40)$115 $8 $881 $54 
Denominator
Weighted-average number of shares outstanding used to compute basic net income (loss) per share attributable to DoorDash, Inc. common stockholders365,340 27,608 384,692 26,859 402,075 24,968 
Weighted-average effect of potentially dilutive securities— — 18,691 — 12,643 — 
Weighted-average number of shares outstanding used to compute diluted net income (loss) per share attributable to DoorDash, Inc. common stockholders365,340 27,608 403,383 26,859 414,718 24,968 
Diluted net income (loss) per share attributable to DoorDash, Inc. common stockholders$(1.42)$(1.42)$0.29 $0.29 $2.13 $2.13 
The following outstanding shares of potentially dilutive securities were excluded from the computation of diluted net income (loss) per share because including such shares would have an anti-dilutive effect, or issuance of such shares is contingent upon the satisfaction of certain conditions which were not satisfied at the end of the respective periods (in thousands):
 
Year Ended December 31,
 202320242025
Stock options to purchase common stock9,022 — — 
Unvested restricted stock and restricted stock units38,072 10,801 10,179 
Escrow shares72 72 72 
Convertible notes
— — 5,574 
Warrants related to the issuance of convertible notes
— — 5,574 
Total47,166 10,873 21,399 
v3.26.1
Employee Benefit Plans
 12 Months Ended
Dec. 31, 2025
Retirement Benefits [Abstract]  
Employee Benefit Plans Employee Benefit Plans
401(k) Plan

The Company has a 401(k) Plan that qualifies as a deferred salary arrangement under Section 401 of the Internal Revenue Code of 1986, as amended. Under the 401(k) Plan, eligible and participating employees may defer a portion of their pretax earnings not to exceed the maximum amount allowable. In 2023, the Company began to make discretionary matching contributions to those participating employees who met certain employment criteria. The Company's matching contributions to the plan were not material for the years ended December 31, 2023, 2024, and 2025.
Defined Benefit Plan
Employees based in Finland are covered under the Finnish Employees’ Pension Act (“TyEL”). TyEL is a statutory private sector pension act that is partly funded and paid through a pay-as-you-go pool. The Old-age Pension and Disability Pension benefits of TyEL are classified as postretirement benefits under defined benefit plan accounting standards and based on an actuarial valuation. The Old-age Pension liability for active employees includes the effect of future salary increases. The Disability Pension liability for active employees is based on employees' total salary two years before the fiscal year.
Net periodic benefit cost is reflected in the accompanying consolidated statements of operations. Service cost is reflected in total costs and expenses. Other components of net periodic benefit cost, including interest cost and amortization of actuarial gains and losses, is included in other expense, net. Actuarial gains and losses resulting from remeasurement are initially recognized in accumulated other comprehensive income and subsequently recognized in the consolidated statements of operations.
v3.26.1
Variable Interest Entities
 12 Months Ended
Dec. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Variable Interest Entities Variable Interest Entities
On July 1, 2022, the Company formed a joint venture with a retail partner in Canada with the objective of providing on-demand delivery of grocery and convenience items to customers in Canada (the "JV"). The Company owns a majority interest in the JV.
In connection with the formation of the JV, the Company contributed cash and certain assets of $41 million Canadian dollars (approximately $32 million US dollars) upon the closing of the transaction in July 2022. During the year ended December 31, 2024, the Company contributed cash of $18 million Canadian dollars (approximately $13 million US dollars.)
On August 1, 2025, the Company renegotiated the terms of the JV with the minority shareholders and contributed $25 million Canadian dollars (approximately $18 million US dollars) to the JV. In conjunction with this contribution, the Company increased its ownership interest in the JV.
The common units held by the Company in the JV were determined to be a variable interest. The Company continues to be the primary beneficiary because the Company has the power to direct the activities that most significantly impact the performance of the JV. As a result, the Company continues to consolidate the assets and liabilities of the JV.
Total assets of the JV included on the consolidated balance sheet as of December 31, 2024 and 2025 were $32 million and $57 million, respectively. Total liabilities of the JV included on the consolidated balance sheets as of December 31, 2024 and 2025 were $8 million and $7 million, respectively.
The JV’s assets may only be used to settle the JV’s obligations and may not be used for other consolidated entities. The JV’s liabilities are non-recourse to the general credit of the Company’s other consolidated entities.
As of December 31, 2024 and 2025, the minority shareholder’s ownership in the JV is classified as redeemable non-controlling interest, because it is redeemable on an event that is not solely in the Company’s control. The redeemable non-controlling interest is not accreted to redemption value because it is currently not probable that the non-controlling interest will become redeemable. Total redeemable non-controlling interest was $7 million and $13 million as of December 31, 2024 and 2025, respectively. Net loss attributable to redeemable non-controlling interest was $7 million, $6 million and $3 million for the years ended December 31, 2023, 2024 and 2025, respectively.
v3.26.1
Derivative
 12 Months Ended
Dec. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Derivative
In connection with the acquisition of Deliveroo, the Company entered into a deal-contingent foreign exchange forward transaction with Bank of America, N.A. (the "Deal-Contingent Forward") on May 6, 2025 to manage the risk of variability in foreign exchange rates related to the GBP-denominated purchase price. The Deal-Contingent Forward had a notional amount of approximately £2.8 billion and was deliverable based on a variable forward rate, with settlement contingent upon the closing of the Deliveroo Transaction. Although the Deal-Contingent Forward was an effective economic hedge, it did not qualify for hedge accounting.

On October 8, 2025, the Deal-Contingent Forward was settled in connection with the closing of the Deliveroo, resulting in a realized loss of $24 million reported in other income (expense), net in the consolidated statements of operations.
v3.26.1
Segment Reporting
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
The Company’s Chief Executive Officer is the Company’s CODM. The CODM reviews financial information presented on a consolidated basis for purposes of making operating decisions, allocating resources, and evaluating financial performance by comparing forecasted to actual monthly financial performance. As such, the Company has determined that it operates in one reportable segment. The significant segment expenses regularly provided to the CODM was as follows (in millions):
Year Ended December 31,
202320242025
Revenue$8,635 $10,722 $13,717 
Less:
Depreciation and amortization509 561 747 
Stock-based compensation1,088 1,099 1,051 
Cost of revenue*4,450 5,391 6,584 
Sales and marketing*1,757 1,920 2,369 
Research and development*537 663 904 
General and administrative*871 1,126 1,337 
Restructuring charges*2 — 2 
Total costs and expenses9,214 10,760 12,994 
Income (loss) from operations(579)(38)723 
Interest income, net152 199 211 
Other income (expense), net
(107)(5)5 
Income (loss) before income taxes(534)156 939 
Provision for income taxes31 39 7 
Net income (loss) including redeemable non-controlling interests(565)117 932 
Net loss attributable to redeemable non-controlling interests
(7)(6)(3)
Net income (loss) attributable to DoorDash, Inc. common stockholders$(558)$123 $935 
*Exclusive of stock-based compensation and depreciation and amortization shown separately.
v3.26.1
Summary of Significant Accounting Policies (Policies)
 12 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
Basis of Presentation
Basis of Presentation
The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries and entities consolidated under the variable interest entity model, and have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). All intercompany balances and transactions have been eliminated in consolidation.
Segments
Segments
Operating segments are defined as components of an entity for which separate financial information is available and that is regularly reviewed by the Chief Operating Decision Maker (“CODM”) in deciding how to allocate resources to an individual segment and in assessing performance. The Company’s Chief Executive Officer is the Company’s CODM. The CODM reviews financial information presented on a consolidated basis for purposes of making operating decisions, allocating resources, and evaluating financial performance. As such, the Company has determined that it operates in one reportable segment.
Use of Estimates
Use of Estimates
The preparation of consolidated financial statements in accordance with GAAP requires management to make certain estimates, judgments, and assumptions that affect the reported amounts of assets and liabilities and the related disclosures at the date of the financial statements, as well as the reported amounts of revenue and expenses during the periods presented. Estimates include, but are not limited to, revenue recognition, allowances for credit losses, gift card breakage, estimated useful lives of property and equipment, capitalized software and website development costs,
intangible assets, valuation of stock-based compensation, valuation of investments and other financial instruments including valuation of investments without readily determinable fair values, valuation of acquired intangible assets and goodwill, the incremental borrowing rate applied in lease accounting, impairment of long-lived assets, insurance reserves, loss contingencies, and income and indirect taxes. Actual results could differ from these estimates.
Business Combinations
Business Combinations
The Company accounts for business combinations using the acquisition method of accounting, which requires, among other things, allocation of the fair value of purchase consideration to the tangible and intangible assets acquired and liabilities assumed at their estimated fair values on the acquisition date. The excess of the fair value of purchase consideration over the values of these identifiable assets and liabilities is recorded as goodwill. When determining the fair value of assets acquired and liabilities assumed, management makes significant estimates and assumptions, especially with respect to the valuation of intangible assets. Management’s estimates of fair value are based upon assumptions believed to be reasonable, but which are inherently uncertain and unpredictable and, as a result, actual results may differ from estimates. During the measurement period, not to exceed one year from the date of acquisition, the Company may record adjustments to the assets acquired and liabilities assumed, with a corresponding offset to goodwill if new information is obtained related to facts and circumstances that existed as of the acquisition date. Upon the conclusion of the measurement period or final determination of the fair value of assets acquired or liabilities assumed, whichever comes first, any subsequent adjustments are reflected in the consolidated statements of operations. Acquisition costs, such as legal and consulting fees, are expensed as incurred.
Cash, Cash Equivalents, and Restricted Cash and Cash Equivalents
Cash, Cash Equivalents, and Restricted Cash and Cash Equivalents
Cash includes demand deposits with banks or financial institutions as well as cash in transit from payment processors. Cash equivalents include short-term and highly liquid investments with original maturities of three months or less and their carrying values approximate fair value due to their short-term maturities.
Restricted cash and cash equivalents consist of bank accounts and cash equivalents which are legally restricted for use, including certain amounts collected on the behalf of, but not yet remitted to, merchants, which are restricted in compliance with certain regulatory requirements, and collateral provided for letters of credit established primarily for real estate leases and insurance policies. Restricted cash and cash equivalents are classified as either current or non-current assets based on the estimated term of the remaining restriction.
Cash, Cash Equivalents, and Restricted Cash and Cash Equivalents
Cash, Cash Equivalents, and Restricted Cash and Cash Equivalents
Cash includes demand deposits with banks or financial institutions as well as cash in transit from payment processors. Cash equivalents include short-term and highly liquid investments with original maturities of three months or less and their carrying values approximate fair value due to their short-term maturities.
Restricted cash and cash equivalents consist of bank accounts and cash equivalents which are legally restricted for use, including certain amounts collected on the behalf of, but not yet remitted to, merchants, which are restricted in compliance with certain regulatory requirements, and collateral provided for letters of credit established primarily for real estate leases and insurance policies. Restricted cash and cash equivalents are classified as either current or non-current assets based on the estimated term of the remaining restriction.
Investments
Investments
Investments include marketable securities, which primarily consist of available-for-sale debt securities, including certificates of deposit, commercial paper, U.S. government agency securities, U.S. Treasury securities and corporate bonds, as well as mutual funds, which are reported at fair value. The Company invests in a diversified portfolio of marketable securities and limits the concentration of its investment in any particular security. Investments also include time deposits, which are accounted for at amortized cost. Investments with maturities greater than three months, but less than one year, are included in current assets and investments with maturities greater than one year are included in non-current assets on the consolidated balance sheets.
If the estimated fair value of an available-for-sale debt security is below its amortized cost basis, then the Company evaluates the security for impairment. The Company considers its intent to sell the security or whether it is more likely than not that it will be required to sell the security before recovery of its amortized basis. If either of these criteria are met, the debt security’s amortized cost basis is written down to fair value through other income (expense), net in the consolidated statements of operations. If neither of these criteria are met, the Company evaluates whether unrealized losses have resulted from a credit loss or other factors. The factors considered in determining whether a credit loss exists can include the extent to which fair value is less than the amortized cost basis, changes to the rating of the security by a rating agency, any adverse conditions specifically related to the security, as well as other factors. An impairment relating to credit losses is recorded through an allowance for credit losses reported in other expense, net in the consolidated statements of operations. The allowance is limited by the amount that the fair value of the debt security is below its amortized cost basis. When a credit loss exists, the Company compares the present value of cash flows expected to be collected from the debt security with the amortized cost basis of the security to determine what allowance amount, if any, should be recorded. As of December 31, 2024 and 2025, no allowance of credit losses related to marketable securities was recorded. Unrealized losses not resulting from credit losses are recorded through accumulated other comprehensive income (loss).
Funds Held at Payment Processors
Funds Held at Payment Processors
The Company relies on a limited number of third parties to provide payment processing services (“payment processors”) including collecting amounts due from end-users and processing Dasher and merchant payouts. Funds held at payment processors represent cash due from the Company’s payment processors for transactions with consumers, as well as funds transferred to payment processors for Dasher and merchant payouts.
Accounts Receivable, Net and Allowance for Credit Losses
Accounts Receivable, Net and Allowance for Credit Losses
Accounts receivable, net primarily represents receivables from merchants that were generated through the Company’s Drive and Marketplaces related offerings. The Company maintains an allowance for credit losses, which is based on the Company’s assessment of the collectability of accounts. The Company regularly reviews the adequacy of the allowance for credit losses on a collective basis by considering the age of each outstanding invoice, each customer’s expected ability to pay and collection history, current market conditions, and reasonable and supportable forecasts of future economic conditions to determine whether the allowance is appropriate. Accounts receivable deemed uncollectible are charged against the allowance for credit losses when identified.
Property and Equipment, Net
Property and Equipment, Net
Property and equipment are recorded at cost and depreciated using the straight-line method over the estimated useful lives of the related assets. The useful lives are as follows:
 

Estimated Useful Life
Equipment for merchants

2 years
Computer equipment and software

2 years
Office equipment

5 years
Capitalized software and website development costs

2 years
Leasehold improvements

Shorter of estimated useful life or lease term
Maintenance and repair costs are charged to expense as incurred. Upon disposal of a fixed asset, the Company records a gain or loss based on the difference between the proceeds received and the net book value of the disposed asset.
Intangible Asset, Goodwill, Capitalized Software and Website Development Costs
Intangible Assets, Net
Intangible assets are recorded at fair value as of the date of acquisition and amortized on a straight-line basis over their estimated useful lives. The Company reviews identifiable amortizable intangible assets for impairment under the long-lived asset model described under “Impairment of Long-Lived Assets” below.
Goodwill
Goodwill represents the excess of the purchase price over the fair value of the net tangible and intangible assets acquired in a business combination. Goodwill is not amortized, but is tested for impairment at least annually or more frequently if events or changes in circumstances indicate that the asset may be impaired. The Company’s impairment tests are based on a single operating segment and reporting unit structure. If the carrying value of the reporting unit exceeds its fair value, an impairment charge is recognized for the excess of the carrying value of the reporting unit over its fair value.
The Company conducted its annual goodwill impairment test during the fourth quarter of 2025 and determined that the fair value of the reporting unit significantly exceeded its carrying value. No goodwill impairment charge was recorded in any of the periods presented in the accompanying consolidated financial statements.
Capitalized Software and Website Development Costs
The Company incurs costs relating to the development of the Company’s technology platform, which includes Dasher and merchant tools, mobile apps, and website and content development. Software development costs related to software acquired, developed, or modified solely to meet the Company’s internal requirements, with no substantive plans to market such software at the time of development, are capitalized during the application development stage of the project. Costs incurred during the preliminary planning and evaluation stage of the project and during the post implementation operational stage are expensed as incurred. Costs to develop the Company’s technology platform are capitalized when preliminary development efforts are successfully completed, management has authorized and committed project funding, and it is probable that the project will be completed and the software will be used as intended. Costs incurred for enhancements that are expected to result in additional functionality are capitalized and expensed over the estimated useful life of the upgrades on a per project basis.
Non-Marketable Investments
Non-Marketable Investments
Non-marketable investments consist of equity and debt investments in privately-held companies, which are included in other assets on the consolidated balance sheets. Non-marketable equity securities that the Company does not have a controlling financial interest in and does not exercise significant influence over the investee are recorded at cost and adjusted for observable transactions for same or similar investments of the same issuer or impairment (referred to as the measurement alternative).
The carrying value is not adjusted for the Company’s non-marketable equity securities if there are no observable price changes in a same or similar investment of the same issuer or if there are no identified events or changes in circumstances that may indicate impairment.
In December 2025, the Company purchased €31 million (approximately $37 million) principal amount of convertible notes issued by a private company in which the Company has a pre-existing equity investment. The convertible notes investment is accounted for at fair value with changes in fair value recorded in earnings through other income (expense), net in the consolidated statements of operations, under the fair value option available for financial instruments. The Company elected the fair value option to account for the convertible notes because the Company believes it accurately reflects the value of the convertible notes and embedded features in the financial statements.
Derivative Financial Instruments
Derivative Financial Instruments
The Company accounts for derivative financial instruments in accordance with Accounting Standards Codification (“ASC”) 815, Derivatives and Hedging, which establishes accounting and reporting for derivative instruments, including economic hedges. Accordingly, any gains or losses related to the derivative instruments used as economic hedges are recognized in earnings. Cash flows are recorded in the same section as the cash flows of the related hedged item. Refer to Note 16 - "Derivative" for further information.
Impairment of Long-Lived Assets
Impairment of Long-Lived Assets
The Company evaluates its long-lived assets or asset groups for indicators of possible impairment by comparison of the carrying amount to future net undiscounted cash flows expected to be generated by such asset or asset group when events or changes in circumstances indicate the carrying amount of an asset or asset group may not be recoverable. Should an impairment exist, the impairment loss would be measured based on the excess carrying value of the asset or asset group over the asset’s or asset group’s fair value generally determined by estimates of future discounted cash flows. Assets to be disposed of are reported at the lower of their carrying amount or fair value less costs to sell
Insurance Reserves
Insurance Reserves
The Company utilizes third-party insurance that includes retained insurance deductibles and retained quota shares to insure costs including auto liability related to both bodily injury and physical damage, and uninsured and underinsured motorists up to a certain dollar retention limit. The recorded insurance reserves reflect the estimated cost for claims incurred but not yet paid and claims that have been incurred but not yet reported and any loss adjustment expense. The estimate of the Company’s ultimate deductible obligation utilizes actuarial techniques applied to historical claim and loss experience. The Company utilizes assumptions based on actuarial judgments with consideration toward claim and loss development factors, which includes the development time frame and settlement patterns, and expected loss rates. Reserves are periodically reviewed and adjusted as necessary as experience develops or new information becomes known. However, ultimate results may differ from the Company’s estimates, which could result in losses over the Company’s reserved amounts.
Loss Contingencies
Loss Contingencies
The Company is involved in various lawsuits, claims, investigations, and proceedings that arise in connection with its business. Certain of these matters include speculative claims for substantial or indeterminate amounts of damages. The Company records a liability in accrued expenses and other current liabilities on the consolidated balance sheets when the Company believes that it is both probable that a loss has been incurred and the amount or range can be reasonably estimated. The Company discloses material contingencies when it believes that a loss is not probable but reasonably possible. Significant judgment is required to determine both probability and the estimated amount. The Company reviews these provisions on a quarterly basis and adjusts these provisions accordingly to reflect the impact of negotiations, settlements, rulings, advice of legal counsel, and updated information.
Sales and Indirect Taxes
Sales and Indirect Taxes
The Company records sales and indirect tax liabilities when they become probable and the amount can be reasonably estimated. Sales and indirect tax liabilities are included in accrued expenses and other current liabilities on the consolidated balance sheets.
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss)
Accumulated other comprehensive income (loss) primarily consists of foreign currency translation adjustments and unrealized gains and losses on available-for-sale marketable securities. The financial statements of the Company’s non-U.S. subsidiaries are translated from their functional currency, which is typically the local currency, into U.S. dollars. Assets and liabilities are translated at period end rates of exchange, and revenue and expenses are translated using average monthly exchange rates. The resulting gain or loss is included in accumulated other comprehensive income (loss) on the consolidated balance sheets.
Available-for-sale securities are reported at fair value, with unrealized gains and losses included as a separate component of stockholders’ equity within accumulated other comprehensive income (loss).
Stock-Based Compensation
Stock-Based Compensation
The fair value of restricted stock and RSUs is estimated based on the fair value of the Company’s common stock on the date of grant. With the exception of the CEO Performance Award (as discussed further in Note 11 - "Common Stock"), the Company only granted RSUs that vest upon the satisfaction of a service-based vesting condition and the compensation expense for these RSUs is recognized on a straight-line basis over the requisite service period.
For the CEO Performance Award, which includes a market-based condition, the fair value of the award was determined using a Monte Carlo simulation model. The associated stock-based compensation is recorded over the derived service period, using the accelerated attribution method. If the stock price goals are met sooner than the derived service period, the Company will adjust the stock-based compensation expense to reflect the cumulative expense associated with the vested award. Provided that Tony Xu continues to be the Chief Executive Officer of the Company, stock-based compensation expense is recognized over the requisite service period, regardless of whether the stock price goals are achieved.
The Company records forfeitures when they occur for all share-based payment awards.
Income Taxes
Income Taxes
The Company accounts for income taxes using the asset and liability method. Under this method, deferred income tax assets and liabilities are recorded based on the estimated future tax effects of differences between the financial statement and income tax basis of existing assets and liabilities. These differences are measured using the enacted statutory tax rates that are expected to apply for the years in which differences are expected to reverse. The Company recognizes the effect on deferred income taxes of a change in tax rates in the period that includes the enactment date.
The Company records a valuation allowance to reduce its deferred tax assets to the net amount that it believes is more-likely-than-not to be realized. Management considers all available evidence, both positive and negative, including the Company's history of losses measured at pre-tax income (loss) adjusted for permanent book-tax differences on a jurisdictional basis, volatility in actual earnings, excess tax benefits related to stock-based compensation in recent prior years, and impacts of the timing of reversal of existing temporary differences. Management also relies on its assessment of the Company’s projected future results of business operations, including uncertainty in future operating results relative
to historical results, volatility in the market price of the Company's common stock and its performance over time, variable macroeconomic conditions impacting its ability to forecast future taxable income, and changes in business that may affect the existence and magnitude of future taxable income. Management's judgments regarding levels of future profitability are consistent with plans and estimates used to manage the business; however, actual operating results in future years could differ from the current assumptions, judgments and estimates. Should there be a change in the ability to recover deferred tax assets, the Company's income tax provision would increase or decrease, as applicable, in the period in which the assessment is changed.
The Company operates in various tax jurisdictions and is subject to audit by tax authorities. The Company recognizes the tax benefit of an uncertain tax position only if it is more-likely-than-not that the position is sustainable upon examination by the taxing authority, based on the technical merits. The tax benefit recognized is measured as the largest amount of benefit that is greater than 50% likely to be realized upon settlement with the taxing authority. Management considers many factors when evaluating the Company's tax positions and estimating its tax benefits, which may require periodic adjustments. Due to uncertainties in any tax audit outcome, management estimates of the ultimate settlement of the Company's unrecognized tax positions may change and the actual tax benefit may differ significantly from the estimates, as may be adjusted. The Company recognizes interest accrued and penalties related to unrecognized tax benefits in the provision for income taxes.
Fair Value
Fair Value
The Company measures certain assets and liabilities at fair value on a recurring basis based on an expected exit price, which represents the amount that would be received on the sale of an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value may be based on assumptions that market participants would use in pricing an asset or liability.
The authoritative guidance on fair value measurements establishes a consistent framework for measuring fair value on either a recurring or nonrecurring basis, whereby inputs used in valuation techniques, are assigned a hierarchical level. The following are the hierarchical levels of inputs to measure fair value:
Level 1Observable inputs that reflect quoted prices (unadjusted) for identical assets or liabilities in active markets.
Level 2Inputs reflect quoted prices for identical assets or liabilities in markets that are not active; quoted prices for similar assets or liabilities in active markets; inputs other than quoted prices that are observable for the assets or liabilities; or inputs that are derived principally from or corroborated by observable market data by correlation or other means.
Level 3Unobservable inputs reflecting the Company’s own assumptions incorporated in valuation techniques used to determine fair value. These assumptions are required to be consistent with market participant assumptions that are reasonably available.
The carrying amounts of certain of the Company’s financial instruments, which include cash equivalents, accounts receivable, accounts payable, and accrued expenses and other current liabilities approximate their fair values due to their short maturities.
The fair value of the Company’s Level 1 financial instruments is based on quoted market prices for identical instruments in active markets. The fair value of the Company’s Level 2 fixed income securities is obtained from independent pricing services, which may use quoted market prices for identical or comparable instruments in less active markets or model driven valuations using observable market data or inputs corroborated by observable market data.
As of December 31, 2025, the fair value of the non-marketable investment in convertible notes of a private company was approximately $37 million and was included in other assets on the consolidated balance sheet. The fair value determination is based on unobservable inputs (Level 3 on the fair value hierarchy) which reflect the best information available under the circumstances, including transaction pricing and market participant assumptions.
The fair value of the 2030 Notes (as defined in Note 9 - "Convertible Notes, Net") was determined based on the quote price in markets that are not active, which is considered a Level 2 valuation input.
Concentration of Credit Risk
Concentration of Credit Risk
The Company’s cash, cash equivalents, investments, funds held at payment processors, and accounts receivable are potentially subject to concentration of credit risk. Although the Company deposits its cash with multiple financial institutions, the deposits, at times, exceed federally insured limits. Management believes that the institutions are financially stable and, accordingly, minimal credit risk exists. The Company limits purchases of debt securities to investment-grade securities. The Company has not experienced any significant credit losses historically.
Payment processors are financial institutions or credit card companies that the Company believes are of high credit quality. The Company retains the risk of collecting such amounts from the payment processors, which are included in funds held at payment processors for the unsettled portion at each period end. The portion of the payments to be remitted to Dashers and merchants is included in accrued expenses and other current liabilities. Although the Company pre-authorizes forms of payment to mitigate its exposure, the Company absorbs all credit card losses.
Accounts receivable, net primarily represents receivables from merchants that were generated through the Company’s Drive and Marketplaces related offerings.
Revenue Recognition
Revenue Recognition
The Company recognizes revenue in accordance with the Financial Accounting Standards Board (“FASB”) ASC 606, Revenue from Contracts with its Customers. The Company generates a substantial majority of its revenue from orders completed through its Marketplaces and the related commissions charged to partner merchants and fees charged to consumers. A partner merchant represents a merchant that has entered into a contractual agreement with the Company. Revenue from the Marketplaces is recognized at the point in time when the consumer obtains control of the merchant’s products. The Company also generates revenue from membership fees paid by consumers for DashPass, Wolt+, and Deliveroo Plus, which is recognized as part of the Marketplaces. Revenue generated from the Company’s DashPass, Wolt+, and Deliveroo Plus memberships is recognized on a ratable basis over the contractual period, which is generally one month to one year depending on the type of membership purchased by the consumer. In addition, the Company also generates revenue from its Drive offering by collecting per-order fees from merchants that use its local commerce platform to arrange for delivery services that fulfill demand generated through their own channels. Revenue from Drive is recognized at the point in time when the consumer obtains control of the merchant’s products.
When determining the appropriate accounting for the fees collected in exchange for the use of the Company’s local commerce platform, the Company considered its contractual arrangements with the parties involved as well as its customary business practices. Under the Company’s agreements with partner merchants, the Company agrees to a commission to be earned as a percentage of the total dollar value of goods ordered. When a consumer signs up to use the Company’s local commerce platform, the consumer agrees to be charged certain fees, at the time an order is placed, in exchange for use of the platform. The Company has concluded that a contract exists between the Company and a partner merchant when the partner merchant accepts each consumer’s order, and a contract exists between the Company and a consumer when the consumer places the order and requests delivery services. The duration of a contract is typically equal to the time between when the order is placed and a Dasher picks up the food from the merchant. Contracts including variable consideration with partner merchants were not material for the periods presented.
The Company’s local commerce platform facilitates orders between consumers and partner merchants. Separately, the Company’s platform arranges for consumers to obtain delivery service from Dashers. The Company has determined that the order facilitation service and delivery facilitation service are distinct performance obligations and has therefore considered whether it is a principal or agent separately for each of these items. The order facilitation service and the delivery facilitation service are distinct given that the consumer can benefit from each item separately. Further, the order facilitation service and delivery facilitation service are separately identifiable as the nature of the promises are to transfer the order facilitation service and delivery facilitation service individually, rather than as a combined item.
Principal vs. Agent Considerations
Judgment is required in determining whether the Company is the principal or the agent in transactions with partner merchants, consumers, and Dashers. As it relates to the accounting for order facilitation services and delivery facilitation services, the Company evaluated whether to present revenue on a gross versus net basis based on whether it controls each specified good or service before it is provided to the consumer in Marketplace transactions.
With respect to order facilitation services, the Company has determined it is an agent for partner merchants in facilitating the sale of products to the consumer through its Marketplaces. The consumer accesses the Company’s local commerce platform to identify merchants and places an order for merchants’ products. These orders are picked up from partner merchants and delivered to consumers by Dashers. The Company does not control the products prior to them being transferred to the consumer as it neither has the ability to redirect the products to another consumer nor does it obtain any economic benefit from the products.
With respect to the vast majority of its delivery facilitation services, the Company has determined it is acting as an agent for the consumer in facilitating the delivery of products by connecting consumers with Dashers. As the Company’s role with the delivery facilitation service is only to arrange for a delivery opportunity to be offered to prospective Dashers, it does not control how the delivery service is ultimately provided to the consumer.
In the vast majority of its transactions with end-users, the Company is an agent in facilitating the sale of products and delivery services, thus the Company reports revenue on a net basis, reflecting amounts collected from consumers, less amounts remitted to merchants and Dashers.
Dasher payout represents the amounts paid to Dashers for deliveries, including incentives and tips, except for certain referral bonuses. From time to time, Dashers may request an earlier payment settlement in exchange for a reduction in Dasher payout. The amounts payable to merchants and Dashers are included in accrued expenses and other current liabilities on the consolidated balance sheets as payments are typically settled within a week.
The Company recognizes revenue from both partner merchants and consumers for each successfully completed transaction. The Company satisfies its performance obligations to a partner merchant when there is a successful sale of the merchant’s products and meets its performance obligation to a consumer once the Dasher has picked up the products from the merchant for delivery to the consumer.
The Company also provides value-added services to merchants. These services are generally considered separate performance obligations and revenue is recognized over the period in which services are provided.
Gift Cards
The Company sells gift cards to consumers that can be redeemed through the Marketplaces. The majority of gift cards sold have no expiration date and administrative fees are not charged on unused gift cards. When gift cards are redeemed, revenue is recognized on a net basis as the difference between the amounts collected from consumers less amounts remitted to merchants and Dashers. The Company also estimates the portion of outstanding gift cards that will never be redeemed (“breakage”) and for which there is no legal obligation to remit the value of the unredeemed gift cards to the relevant jurisdiction as unclaimed or abandoned property. The Company recognizes the breakage amounts as revenue, proportionate to the pattern of revenue recognition for the gift card redemptions. The Company recorded $41 million, $46 million and $58 million of gift card breakage revenue during the years ended December 31, 2023, 2024, and 2025, respectively. Estimating future breakage rates requires judgment based on current and historical patterns of redemption, and the actual breakage rates may vary from the estimate. For jurisdictions where gift cards have expiration dates, the Company recognizes breakage when they expire.
Refunds and Credits
From time to time the Company issues credits or refunds to merchants and consumers to ameliorate issues that may arise with orders. The Company accounts for such refunds as variable consideration and therefore records the amount of each refund or credit issued as a reduction of revenue.
Incentive Programs
The Company offers incentives to attract consumers and Dashers to use its local commerce platform. Consumers typically receive credits or discounted delivery fees while Dashers typically receive cash incentives. Each of the incentives are described below.
Consumer Promotions
The Company uses promotions in tandem with sales and marketing spend to attract new consumers to its platform. Promotions offered to consumers are primarily recorded as a reduction of revenue and include the following:
New consumer incentives: The Company records discounts and incentives provided to new consumers as a promotion and reduces revenue on the date that the corresponding revenue transaction is recorded.
Consumer referrals: The Company offers referral credits to its existing consumers for referrals of new consumers. These referral credits are paid in exchange for a distinct marketing service and therefore the portion of these credits that is equal to or less than the fair value of acquiring a new consumer are accounted for as a consumer acquisition cost. The majority of new consumer acquisition costs is expensed as incurred and reflected as sales and marketing expenses in the Company’s consolidated statements of operations. The portion of these credits in excess of the fair value of acquiring a new consumer is accounted for as a reduction of revenue.
Existing consumer incentives: On occasion, the Company offers promotional discounts to existing consumers. The Company records incentives provided to existing consumers as a promotion and reduces revenue on the date that the corresponding revenue transaction is recorded.
Dasher Incentives and Referrals
The Company offers various incentives to Dashers, which are primarily recorded within Dasher payout and reduce revenue. These are offered in various forms and include:
Peak pay: The Company makes additional payments to Dashers to incentivize them to accept delivery opportunities during peak demand time.
Dasher referrals: The Company offers referral bonuses to referring Dashers, as well as to referred Dashers, once the new Dasher has met certain qualifying conditions. The Company expenses the fair value of payments made to the referring Dashers as incurred in sales and marketing expenses in the consolidated statements of operations, since the marketing of the Company’s platform to acquire new Dashers represents a distinct benefit to the Company. The portion of these referral bonuses in excess of the fair value of payments made to the referring Dashers is accounted for as a reduction of revenue. Payments made to the referred Dashers are recorded within Dasher payout and reduce revenue at the time the corresponding revenue transaction is recorded.
Contract Liabilities
The timing of revenue recognition may differ from the timing of invoicing to or collections from customers. The Company’s contract liabilities balance, which is included in accrued expenses and other current liabilities on the consolidated balance sheets, is primarily composed of unredeemed gift cards, prepayments received from consumers and merchants, certain consumer credits as well as other transactions for which the revenue is recognized over time.Deferred contract costs represent direct and incremental costs incurred to acquire or fulfill the Company’s contracts, consisting of sales commissions and costs related to merchant onboarding, which the Company expects to recover. Deferred contract costs are amortized on a straight-line basis over the expected period of benefit, which the Company determined by considering historical attrition rates and other factors. Deferred contract costs are recorded in prepaid expenses and other current assets and other assets on the consolidated balance sheets. Amortization of deferred contract costs related to sales commissions is recognized in sales and marketing expense and amortization of deferred contract costs related to merchant onboarding is recognized in cost of revenue, exclusive of depreciation and amortization in the consolidated statements of operations.
Advertising Costs
Advertising Costs
Advertising costs are expensed when incurred and are included in sales and marketing expenses in the consolidated statements of operations.
Net Income (Loss) Per Share Attributable to Common Stockholders
Net Income (Loss) Per Share Attributable to Common Stockholders
The Company computes net income (loss) per common share following the two-class method required for multiple classes of common stock and participating securities. The two-class method requires income (loss) available to DoorDash, Inc. common stockholders for the period to be allocated between multiple classes of common stock and participating securities based upon their respective rights to receive dividends as if all income (loss) for the period had been distributed. The rights, including the liquidation and dividend rights, of the Class A common stock, Class B common stock, and Class C common stock are substantially identical, other than voting rights. Accordingly, the Class A common stock and Class B common stock shared proportionately in the Company’s net income and losses. No shares of Class C common stock were issued and outstanding as of December 31, 2024 and 2025.
Basic net income (loss) per share is computed by dividing the net income (loss) attributable to common stockholders by the weighted-average number of shares of common stock outstanding during the period, less shares subject to repurchase. The diluted net income (loss) per share is computed by giving effect to all potentially dilutive securities outstanding for the period. For periods in which the Company reports net losses, diluted net loss per common share is the same as basic net loss per common share, because all potentially dilutive securities are anti-dilutive.
Leases
Leases
The Company determines if an arrangement is or contains a lease at inception. A contract is or contains a lease if it conveys the right to control the use of an identified asset for a period of time in exchange for consideration. ROU assets represents the Company's right to use the underlying assets for the lease term and lease liabilities represents the Company's obligation to make lease payments arising from the lease. The Company has elected the practical expedient of not recognizing ROU assets and lease liabilities for short-term leases with terms of twelve months or less. Expense related to short-term leases is recognized either straight-line over the lease term or as incurred depending on whether the lease payments are fixed or variable. ROU assets are recognized as the lease liability, adjusted for lease incentives received. Lease liabilities are recognized at the present value of the future lease payments at the lease commencement date. The Company’s classes of assets that are leased include real estate leases and equipment leases. Operating leases consist of real estate leases and are included in operating lease ROU assets and operating lease liabilities on the Company’s consolidated balance sheets. Finance leases consist of equipment leases and are included in property and equipment, net on the Company’s consolidated balance sheets. Most of the Company’s leases are operating leases, and activities related to finance leases were not material for the periods presented.
The Company’s real estate leases are for an initial period between one and 15 years, and typically include renewal options, the election of which is at the option of the Company. The Company includes renewal options in the measurement of lease liabilities only to the extent the option is reasonably certain to be exercised. For leases that provide the option to terminate, the lease term includes periods covered by such options to the extent the Company is reasonably certain not to exercise the option.
The Company subleases certain portions of buildings subject to operating leases. The terms and conditions of the subleases are commensurate with the terms and conditions within the original operating leases. The term of the subleases generally range from two to eight years, payments are fixed within the contracts, and there are no residual value guarantees or other restrictions or covenants in the leases.
When the discount rate implicit in the lease cannot be readily determined, the Company uses the applicable incremental borrowing rate at lease commencement in order to discount lease payments to present value for purposes of performing lease classification tests and measuring the lease liability. The incremental borrowing rate represents the rate of interest the Company would have to pay to borrow on a collateralized basis over a similar term an amount equal to the lease payments in a similar economic environment. Because the Company does not typically borrow on a collateralized basis, it uses a derived unsecured synthetic credit rating adjusted for collateralization, current available yield curves, and the lease term as inputs to derive an appropriate incremental borrowing rate.
Variable Interest Entity
Variable Interest Entities
The Company evaluates its ownership, contractual and other interests in entities to determine if it has a variable interest in an entity and if it is the primary beneficiary. These evaluations are complex and involve judgment and the use of estimates and assumptions based on available historical and prospective information, among other factors. If the Company determines that entities for which the Company holds a contractual or ownership interest in are variable interest entities ("VIE") and that the Company is the primary beneficiary, the Company consolidates such entities in the consolidated financial statements. The primary beneficiary of a VIE is the party that meets both of the following criteria: (1) has the power to make decisions that most significantly affect the economic performance of the VIE and (2) has the obligation to absorb losses or the right to receive benefits that in either case could potentially be significant to the VIE. Periodically, the Company determines whether any changes in the interest or relationship with the entity impacts the determination of whether the Company is still the primary beneficiary. If the Company is not deemed to be the primary beneficiary in a VIE, the Company accounts for the investment or other variable interests in a VIE in accordance with applicable GAAP. Refer to Note 15 - "Variable Interest Entities" of these notes to the Company's consolidated financial statements for further information.
Restructuring
Restructuring
Costs and liabilities associated with management-approved restructuring activities are recognized when they are incurred. One-time employee termination costs are recognized at the time of communication to employees, unless future service is required, in which case the costs are recognized over the future service period. Ongoing employee termination benefits are recognized as a liability when it is probable that a liability exists and the amount is reasonably estimable. Restructuring charges are recognized as an operating expense within the consolidated statements of operations and related liabilities are recorded within accrued expenses and other current liabilities on the consolidated balance sheets. The Company periodically evaluates and, if necessary, adjusts its estimates based on currently available information.
Recent Accounting Pronouncements Adopted and Recent Accounting Pronouncements Not Yet Adopted
Recent Accounting Pronouncements Adopted
In December 2023, the FASB issued Accounting Standards Update 2023-09, “Income Taxes (Topic 740): Improvements to Income Tax Disclosures” (“ASU 2023-09”). The amendment requires additional income tax disclosure. Specifically, it requires public entities, on an annual basis, to provide disclosure of defined categories in the income tax rate reconciliation, as well as disclosure of income taxes paid, disaggregated by jurisdiction. ASU 2023-09 is effective for annual periods beginning after December 15, 2024. The Company adopted ASU 2023-09 on a prospective basis for the year ended December 31, 2025. Refer to Note 12 – "Income Taxes” of these notes to the Company's consolidated financial statements for further information.
Recent Accounting Pronouncements Not Yet Adopted
In November 2024, the FASB issued Accounting Standards Update 2024-03, "Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses" ("ASU 2024-03"), which requires disclosure, on an annual and interim basis, of specified information about certain costs and expenses in the notes to financial statements. ASU 2024-03 will be effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted. The Company is currently evaluating the impact of the adoption of this guidance on its consolidated financial statements and disclosures.
In September 2025, the FASB issued Accounting Standards Update 2025-06, "Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software" (“ASU 2025-06”), which removes all references to prescriptive and sequential software development stages and establishes new criteria for the capitalization of internal-use software costs. ASU 2025-06 is effective for fiscal years beginning after December 15, 2027, and interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted. The Company is currently evaluating the impact of the adoption of this guidance on its consolidated financial statements and disclosures.
v3.26.1
Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2025
Accounting Policies [Abstract]  
Schedule Of Useful Lives of Property and Equipment The useful lives are as follows:
 

Estimated Useful Life
Equipment for merchants

2 years
Computer equipment and software

2 years
Office equipment

5 years
Capitalized software and website development costs

2 years
Leasehold improvements

Shorter of estimated useful life or lease term
Property and equipment, net consisted of the following (in millions):
December 31, 2024December 31, 2025
Equipment for merchants$190 $235 
Computer equipment and software96 $126 
Capitalized software and website development costs1,339 $1,895 
Leasehold improvements211 $268 
Office equipment77 $149 
Construction in progress61 $48 
Total1,974 2,721 
Less: Accumulated depreciation and amortization(1,196)$(1,654)
Property and equipment, net$778 $1,067 
v3.26.1
Revenue (Tables)
 12 Months Ended
Dec. 31, 2025
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue
Revenue by geographic area is determined based on the address of the merchant, or in the case of the Company's membership products, the address of the consumer. Revenue by geographic area was as follows (in millions):
 
Year Ended December 31,
 202320242025
United States$7,781 $9,403 $11,460 
International(1)
854 1,319 2,257 
Total revenue$8,635 $10,722 $13,717 
(1)No individual country outside the United States represented 10% or more of total consolidated revenue for the periods presented.
Contract Liabilities A summary of activities related to contract liabilities for the year ended December 31, 2025 was as follows (in millions):
Year Ended December 31, 2025
Beginning balance$396 
Addition to contract liabilities3,835 
Reduction of contract liabilities(1)(2)
(3,684)
Ending balance$547 
(1)Gift cards and certain consumer credits can be redeemed through the Marketplaces. When they are redeemed, revenue is recognized on a net basis as the difference between the amounts collected from consumers less amounts remitted to merchants and Dashers for those transactions. Therefore, the amount recognized as revenue related to the reduction of gift cards and certain consumer credits is less than the amount presented in the table above. Net revenue associated with gift cards and certain consumer credits is not tracked by the Company as it is impracticable to do so.
(2)Included in the beginning balance of contract liabilities was $228 million associated with unearned prepayments received by the Company, all of which was recognized as revenue during the year ended December 31, 2025. The ending balance of unearned prepayments is expected to be recognized as revenue in 12 months or less.
Deferred Contract Costs A summary of activities related to deferred contract costs was as follows (in millions):
 
Year Ended December 31,
 202320242025
Beginning balance$100 $137 $157 
Addition to deferred contract costs
82 80 111 
Amortization of deferred contract costs(45)(60)(77)
Ending balance$137 $157 $191 
Deferred contract costs, current$51 $64 $79 
Deferred contract costs, non-current86 93 112 
Total deferred contract costs$137 $157 $191 
Accounts Receivable, Allowance for Credit Loss
The allowance for credit losses related to accounts receivable and changes were as follows (in millions):
Year Ended December 31,
202320242025
Beginning balance$20 $17 $22 
Current-period provision for expected credit losses
8 15 37 
Write-offs charged against the allowance(11)(10)(14)
Ending balance$17 $22 $45 
v3.26.1
Acquisitions (Tables)
 12 Months Ended
Dec. 31, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Schedule of Consideration Transferred The acquisition date fair value of the consideration transferred for Deliveroo was $3,724 million, which consisted of the following (in millions):
Fair Value
Consideration payable
$3,722 
Stock-based compensation awards attributable to pre-combination services
2 
Total purchase consideration
$3,724 
The acquisition date fair value of the consideration transferred for SevenRooms was $1,152 million, which consisted of the following (in millions):
Fair Value
Cash
$902 
Deferred cash consideration
250 
Total consideration$1,152 
The acquisition date fair value of the purchase consideration was $121 million, which consisted of the following (in millions):
Fair Value
Cash
$89 
Deferred cash consideration29 
Fair value of previously held equity interest
3 
Total consideration$121 
Schedule of Fair Value of Assets Acquired and Liabilities Assumed
The following table summarizes the preliminary fair value of the assets acquired and liabilities assumed as of the acquisition date (in millions):
October 2, 2025
Current assets$1,217 
Intangible assets1,498 
Goodwill1,950 
Other non-current assets98 
Current liabilities(748)
Contingent liabilities
(102)
Deferred tax liability
(156)
Other non-current liabilities
(33)
Total
$3,724 
The following table summarizes the preliminary fair value of the assets acquired and liabilities assumed as of the acquisition date (in millions):

June 13, 2025
Current assets$28 
Intangible assets365 
Goodwill886 
Other non-current assets2 
Current liabilities(106)
Deferred tax liability, net(23)
Total
$1,152 
The following table summarizes the fair values of the assets acquired and liabilities assumed as of the acquisition date (in millions):

May 28, 2025
Current assets$7 
Intangible assets19 
Goodwill102 
Current liabilities
(5)
Other liabilities
(2)
Total
$121 
Schedule of Components of Intangible Assets Acquired
The following table sets forth the components of intangible assets acquired (in millions) and their estimated useful life as of the date of acquisition (in years):
Estimated Useful LifeOctober 2, 2025
Restaurant merchant relationships
11$486 
Trade name
10297 
Customer relationships
4445 
New vertical merchant relationships
440 
Developed technology
2216 
Rider relationships
214
Total acquired intangible assets$1,498 
The following table sets forth the components of intangible assets acquired (in millions) and their estimated useful lives as of the date of acquisition (in years):

Estimated Useful LifeJune 13, 2025
Existing technology6$139 
Strategic customer relationships
14165 
Other customer relationships
755 
Trade name
46 
Total acquired intangible assets$365 
Schedule of Pro Forma Information The unaudited pro forma results are as follows (in millions):
Year ended December 31,
20242025
Revenue
$11,984 $14,743 
Net income (loss)
(103)925 
v3.26.1
Goodwill and Intangible Assets, Net (Tables)
 12 Months Ended
Dec. 31, 2025
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Goodwill
The changes in the carrying amount of goodwill for the periods presented were as follows (in millions):
Total
Balance as of December 31, 2023$2,432 
Effects of foreign currency translation(117)
Balance as of December 31, 20242,315 
Goodwill measurement period adjustments41 
Acquisitions
2,918 
Effects of foreign currency translation245 
Balance as of December 31, 2025$5,519 
Schedule of Intangible Assets
Intangible assets, net consisted of the following as of December 31, 2024 (in millions):
Weighted-average
Remaining Useful
Life (in years)		Gross Carrying
Value		Accumulated
Amortization		Net Carrying
Value
Existing technology3.3$232 $(142)$90 
Merchant relationships8.3286 (82)204 
Customer relationships0.4116 (101)15 
Trade name and trademarks7.4269 (75)194 
Assembled workforce in asset acquisition2.210 (3)7 
Balance as of December 31, 2024$913 $(403)$510 
Intangible assets, net consisted of the following as of December 31, 2025 (in millions):
Weighted-average
Remaining Useful
Life (in years)		Gross Carrying
Value		Accumulated
Amortization		Net Carrying
Value
Existing technology3.1$622 $(222)$400 
Merchant relationships9.3854 (122)732 
Rider relationships
1.814 (2)12 
Customer relationships6.5798 (169)629 
Trade name and trademarks8.4602 (119)483 
Assembled workforce in asset acquisitions1.310 (6)4 
Balance as of December 31, 2025$2,900 $(640)$2,260 
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense
The estimated future amortization expense of intangible assets as of December 31, 2025 was as follows (in millions):
Year Ending December 31,
Amortization
Expense
2026$456 
2027424 
2028317 
2029267 
2030173 
Thereafter623 
Total estimated future amortization expense$2,260 
v3.26.1
Fair Value Measures and Disclosures (Tables)
 12 Months Ended
Dec. 31, 2025
Fair Value Disclosures [Abstract]  
Schedule of Assets Measured at Fair Value on Recurring Basis
The following tables set forth the Company’s cash equivalents and investments that were measured at fair value on a recurring basis by level within the fair value hierarchy (in millions):
 December 31, 2024
 Level 1Level 2Level 3Total
Cash equivalents
Money market funds$2,272 $— $— $2,272 
Commercial paper— 5 — 5 
U.S. Treasury securities— 15 — 15 
Short-term investments
Certificates of deposit— 39 — 39 
Commercial paper— 76 — 76 
Corporate bonds— 509 — 509 
U.S. government agency securities— 33 — 33 
U.S. Treasury securities— 612 — 612 
Mutual funds
53 — — 53 
Long-term investments
Commercial paper— 2 — 2 
Corporate bonds— 420 — 420 
U.S. government agency securities— 74 — 74 
U.S. Treasury securities— 339 — 339 
Total$2,325 $2,124 $— $4,449 
December 31, 2025
Level 1Level 2Level 3Total
Cash equivalents(1)
Money market funds$1,905 $— $— $1,905 
U.S. Treasury securities— 1 — 1 
Short-term investments(1)
Certificates of deposit— 25 — 25 
Commercial paper— 32 — 32 
Corporate bonds— 470 — 470 
U.S. government agency securities— 30 — 30 
U.S. Treasury securities— 361 — 361 
Mutual funds59 — — 59 
Long-term investments
Corporate bonds— 464 — 464 
U.S. government agency securities— 91 — 91 
U.S. Treasury securities— 282 — 282 
Other assets
Money market funds(2)
15 — — 15 
Non-marketable investment
— — 37 37 
Total$1,979 $1,756 $37 $3,772 
(1)Cash equivalents and short-term investments included $26 million and $151 million of time deposits, respectively, which are not subject to recurring fair value measurements.
(2)Other assets included $15 million of money market funds held in a trust account pursuant to certain insurance policies, which were recorded as long-term restricted cash equivalents.
Summary of Carrying Value of the Company's Non-Marketable Equity Securities and Unrealized Losses The following is a summary of unrealized gains and losses from upward or downward adjustments recorded in other income (expense), net in the consolidated statements of operations, and included as adjustments to the carrying value of non-marketable equity securities held during the years ended December 31, 2023, 2024, and 2025 (in millions):
Year Ended December 31,
202320242025
Upward adjustments$— $2 $16 
Downward adjustments (including impairment)(101)(6)(2)
Total unrealized gain (loss) for non-marketable equity securities
$(101)$(4)$14 
The following table summarizes the carrying value of the Company's non-marketable equity securities as of December 31, 2024 and 2025 including impairments and cumulative upward and downward adjustments made to the initial cost basis of the securities, which were recorded in other expense, net in the consolidated statements of operations (in millions):
December 31,
20242025
Initial cost basis$450 $460 
Upward adjustments11 24 
Downward adjustments (including impairment)(419)(415)
Total carrying value at the end of reporting period$42 $69 
v3.26.1
Balance Sheet Components (Tables)
 12 Months Ended
Dec. 31, 2025
Balance Sheet Related Disclosures [Abstract]  
Schedule of Cash Equivalents and Investments
The following tables summarize the cost or amortized cost, gross unrealized gain, gross unrealized loss, and fair value of the Company’s cash equivalents and investments (in millions):
 December 31, 2024
 Cost or
Amortized
Cost		UnrealizedEstimated
Fair
Value
 GainsLosses
Cash equivalents
Money market funds$2,272 $— $— $2,272 
Commercial paper5 — — 5 
U.S. Treasury securities15 — — 15 
Short-term investments
Certificates of deposit39 — — 39 
Commercial paper76 — — 76 
Corporate bonds508 1 — 509 
U.S. government agency securities33 — — 33 
U.S. Treasury securities611 1 — 612 
Mutual funds
53 — — 53 
Long-term investments
Commercial paper2 — — 2 
Corporate bonds420 1 (1)420 
U.S. government agency securities74 — — 74 
U.S. Treasury securities340 — (1)339 
Total$4,448 $3 $(2)$4,449 
 December 31, 2025
 Cost or
Amortized
Cost		UnrealizedEstimated
Fair
Value
 GainsLosses
Cash equivalents
Money market funds$1,905 $— $— $1,905 
U.S. Treasury securities1 — — 1 
Time deposits
26 — — 26 
Short-term investments
Certificates of deposit25 — — 25 
Commercial paper32 — — 32 
Corporate bonds469 1 — 470 
U.S. government agency securities30 — — 30 
U.S. Treasury securities360 1 — 361 
Mutual funds57 2 — 59 
Time deposits
151 — — 151 
Long-term investments
Corporate bonds463 1 — 464 
U.S. government agency securities91 — — 91 
U.S. Treasury securities281 1 — 282 
Total$3,891 $6 $— $3,897 
Schedule of Prepaid Expenses and Other Current Assets
Prepaid expenses and other current assets consisted of the following (in millions):
December 31, 2024December 31,
2025
Prepaid expenses $237 $414 
Deferred contract costs64 79 
Other receivables133 279 
Other current assets253 397 
Total$687 $1,169 
Schedule of Property and Equipment, net The useful lives are as follows:
 

Estimated Useful Life
Equipment for merchants

2 years
Computer equipment and software

2 years
Office equipment

5 years
Capitalized software and website development costs

2 years
Leasehold improvements

Shorter of estimated useful life or lease term
Property and equipment, net consisted of the following (in millions):
December 31, 2024December 31, 2025
Equipment for merchants$190 $235 
Computer equipment and software96 $126 
Capitalized software and website development costs1,339 $1,895 
Leasehold improvements211 $268 
Office equipment77 $149 
Construction in progress61 $48 
Total1,974 2,721 
Less: Accumulated depreciation and amortization(1,196)$(1,654)
Property and equipment, net$778 $1,067 
Schedule of Accrued Expenses and Other Current Liabilities
Accrued expenses and other current liabilities consisted of the following (in millions):
December 31, 2024December 31, 2025
Litigation reserves$160 $263 
Sales tax payable and accrued sales and indirect taxes337 589 
Accrued operations related expenses446 502 
Accrued advertising142 170 
Dasher and merchant payable1,136 1,703 
Insurance reserves1,049 1,114 
Contract liabilities396 547 
Other383 757 
Total$4,049 $5,645 
v3.26.1
Leases (Tables)
 12 Months Ended
Dec. 31, 2025
Leases [Abstract]  
Lease Cost
The components of lease costs related to the Company’s operating leases included in the consolidated statements of operations for the periods presented were as follows (in millions):
Year Ended December 31,
202320242025
Operating lease costs$108 $103 $118 
Short-term lease costs12 16 16 
Sublease income(3)(2)(5)
Total lease costs$117 $117 $129 
Lease terms and discount rates for operating leases were as follows:
December 31, 2024December 31, 2025
Weighted-average remaining lease term (in years)7.456.32
Weighted-average discount rate6.79%6.55%
Supplemental cash flow and non-cash information was as follows (in millions):
Year Ended December 31,
202320242025
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flows for operating leases$113 $116 $125 
ROU assets obtained in exchange for new lease liabilities
Operating leases$85 $81 $72 
Future Minimum Lease Payments Required under Operating Leases
As of December 31, 2025, the future minimum lease payments required under operating leases were as follows (in millions):
Year Ending December 31,Amount
2026$138 
2027117 
202899 
202986 
203078 
Thereafter192 
Total future minimum lease payments710 
Less: Imputed interest(138)
Less: Tenant improvement receivable(6)
Present value of future minimum lease payments$566 
v3.26.1
Convertible Notes, Net (Tables)
 12 Months Ended
Dec. 31, 2025
Debt Disclosure [Abstract]  
Schedule of Convertible Debt
The net carrying value, net of the 2030 Notes consisted of the following as of December 31, 2025 (in millions):

December 31, 2025
Principal
$2,750 
Less: debt issuance costs, net of amortization
(26)
Carrying value, net$2,724 
v3.26.1
Commitments and Contingencies (Tables)
 12 Months Ended
Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]  
Non-cancelable purchase commitments As of December 31, 2025, the future minimum payments under the Company’s non-cancelable purchase commitments were as follows (in millions):
Year Ending December 31,
Amount
2026$1,049 
20271,090 
20281,020 
20291,054 
20301,087 
Total future minimum payments$5,300 
v3.26.1
Common Stock (Tables)
 12 Months Ended
Dec. 31, 2025
Equity [Abstract]  
Activities for the Restricted Stock Issued to Employees
The activities for the restricted stock issued to employees was as follows (in thousands, except per share data):
Number of
Shares		Weighted-
Average
Grant Date
Fair Value Per Share
Unvested restricted stock as of December 31, 202492 
Granted— $— 
Vested(18)$76.91 
Forfeited— $— 
Unvested restricted stock as of December 31, 202574 
Summary of Common Stock Reserved for Future Issuance
The following table summarizes the Company’s shares of common stock reserved for future issuance on an as-converted basis (in thousands):
December 31, 2024December 31, 2025
Stock options issued and outstanding under the 2014 Plan and Inducement Plan4,516 2,411 
RSUs outstanding under the 2014 Plan, 2020 Plan and Inducement Plan29,566 24,031 
Remaining shares available for future issuance64,481 78,539 
Shares available for issuance under the 2020 Employee Stock Purchase Plan6,499 6,499 
Total105,062 111,480 
Schedule of Non-vested Performance Shares
Company Stock 
Price Target		Number of RSUs
Eligible to Vest
1$187.60518,950
2$226.80518,950
3$265.801,037,900
4$305.001,037,900
5$344.001,037,900
6$383.001,556,850
7$422.201,556,850
8$461.201,556,850
9$501.001,556,850
Schedule of Activity under the 2014 and 2020 Plans
A summary of activity under the 2014 Plan, 2020 Plan, and Inducement Plan was as follows (in millions, except share amounts which are reflected in thousands, and per share data):
Options Outstanding
Shares
subject to
Options
Outstanding		Weighted-
Average
Exercise
Price		Weighted-
Average
Remaining
Contractual
Term
(in years)		Aggregate
Intrinsic
Value
Balance as of December 31, 20244,516 $5.72 3.18$732 
Granted— $— 
Exercised(2,104)$4.59 $441 
Cancelled and forfeited(1)$4.62 
Balance as of December 31, 20252,411 $6.70 2.37$530 
Exercisable as of December 31, 20252,374 $6.75 2.39$522 
Vested and expected to vest as of December 31, 20252,411 $6.70 2.37$530 
Summary of RSU Activity
A summary of RSU activity was as follows (in millions, except share amounts which are reflected in thousands, and per share data):
Number of
Shares		Weighted-
Average
Grant Date
Fair Value		Aggregate
Intrinsic
Value
Unvested RSUs as of December 31, 202429,535 $4,955 
Granted, including replacement awards for acquisition9,143 $195.33 
Vested(60)$80.34 
Vested and settled(12,446)$99.98 
Forfeited(2,211)$114.55 
Unvested RSUs as of December 31, 202523,961 $5,427 
Schedule of Stock-based compensation Expense
The Company recorded stock-based compensation expense in the consolidated statements of operations as follows (in millions):
Year Ended December 31,
202320242025
Cost of revenue, exclusive of depreciation and amortization$139 $151 $154 
Sales and marketing119 117 107 
Research and development466 505 527 
General and administrative364 326 263 
Total stock-based compensation expense$1,088 $1,099 $1,051 
v3.26.1
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2025
Income Tax Disclosure [Abstract]  
Schedule of Income before Income Tax, Domestic and Foreign
The components of income (loss) before income taxes were as follows (in millions):
 
Year Ended December 31,
 202320242025
United States$259 $925 $1,637 
Foreign(793)(769)(698)
Income (loss) before income taxes$(534)$156 $939 
Schedule of Components of Income Tax Expense
The components of provision for income taxes were as follows (in millions):
Year Ended December 31,
202320242025
Current
Federal$6 $5 $(1)
State9 6 9 
Foreign17 27 36 
Total
$32 $38 $44 
Deferred
Federal1 1 (12)
State— — (11)
Foreign(2)— (14)
Total
(1)1 (37)
Total provision for income taxes
$31 $39 $7 
Schedule of Effective Income Tax Rate Reconciliation
Below is a tabular rate reconciliation pursuant to the disclosure requirements of ASU 2023-09 for the year ended December 31, 2025.
The items accounting for differences between income taxes computed at the federal statutory rate and the provision recorded for income taxes were as follows (in millions, except percentages):
Year Ended December 31,
2025
Amount Percent
Provision for income taxes at U.S. federal statutory rate$197 21 %
State and local income taxes, net of federal income tax effect(1)
(15)(2)%
Foreign tax effects
Finland
Stock-based compensation(30)(3)%
Changes in valuation allowance166 18 %
Other(3)— %
Other countries22 2 %
Effect of cross-border tax laws
U.S. taxation of foreign branches(183)(20)%
Tax credits
Research and development tax credits(135)(14)%
Changes in valuation allowance100 11 %
Nontaxable or nondeductible items
Stock-based compensation(207)(22)%
Transaction costs16 2 %
Other8 1 %
Changes in unrecognized tax benefits69 7 %
Other adjustments2 — %
Provision for income taxes$7 1 %
(1)State tax benefits in California made up the majority (greater than 50%) of the tax effect in this category.
As previously disclosed for the years ended December 31, 2023 and 2024, prior to the adoption of ASU 2023-09, the effective income tax rate differs from the statutory federal income tax rate as follows (in millions):
Year Ended December 31,
20232024
Income taxes computed at the federal statutory rate$(112)$33 
State taxes, net of federal benefits7 5 
Tax impact of foreign earnings and losses 181 (23)
Change in valuation allowance47 292 
Stock-based compensation(59)(174)
Research and development credits(44)(106)
Non-deductible expenses9 13 
Other2 (1)
Provision for income taxes$31 $39 
Schedule of Deferred Tax Assets and Liabilities
The components of deferred tax assets and liabilities were as follows (in millions):
December 31,
20242025
Deferred tax assets
Loss carryovers$808 $1,839 
Tax credits 376 539 
Capitalized research and development886 589 
Stock-based compensation54 65 
Lease liabilities149 157 
Accruals and reserves360 455 
Other 112 265 
Total gross deferred tax assets2,745 3,908 
Less: Valuation allowance(2,352)(3,197)
Total deferred tax assets net of valuation allowance393 711 
Deferred tax liabilities
Property and equipment and intangible assets(224)(661)
Lease assets (111)(120)
Prepaid expenses and other assets(62)(71)
Total gross deferred tax liabilities(397)(852)
Net deferred tax liabilities$(4)$(141)
Schedule of Unrecognized Tax Benefits Roll Forward
A reconciliation of the beginning and ending balance of gross unrecognized tax benefits is included in the table below (in millions):
Year Ended December 31,
202320242025
Unrecognized tax benefits at beginning of year$69 $183 $275 
Increases related to current year tax positions47 64 66 
Increases related to prior year tax positions67 28 9 
Decreases related to prior year tax positions— — — 
Unrecognized tax benefits at end of year$183 $275 $350 
v3.26.1
Net Income (Loss) per Share Attributable to DoorDash, Inc. Common Stockholders (Tables)
 12 Months Ended
Dec. 31, 2025
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share, Basic and Diluted
The following table sets forth the calculation of basic and diluted net income (loss) per share attributable to DoorDash, Inc. common stockholders during the periods presented (in millions, except share amounts which are reflected in thousands, and per share data):
Year Ended December 31,
202320242025
Class AClass BClass AClass BClass AClass B
Basic net income (loss) per share
Numerator
Net income (loss) including redeemable non-controlling interests$(525)$(40)$109 $8 $878 $54 
Less: Net loss attributable to redeemable non-controlling interests(7)— (6)— (3)— 
Net income (loss) attributable to DoorDash, Inc. common stockholders(518)(40)115 8 881 54 
Denominator
Weighted-average number of shares outstanding used to compute basic net income (loss) per share attributable to DoorDash, Inc. common stockholders365,340 27,608 384,692 26,859 402,075 24,968 
Basic net income (loss) per share attributable to DoorDash, Inc. common stockholders$(1.42)$(1.42)$0.30 $0.30 $2.19 $2.19 
Year Ended December 31,
202320242025
Class AClass BClass AClass BClass AClass B
Diluted net income (loss) per share
Numerator
Net income (loss) attributable to DoorDash, Inc. common stockholders$(518)$(40)$115 $8 $881 $54 
Denominator
Weighted-average number of shares outstanding used to compute basic net income (loss) per share attributable to DoorDash, Inc. common stockholders365,340 27,608 384,692 26,859 402,075 24,968 
Weighted-average effect of potentially dilutive securities— — 18,691 — 12,643 — 
Weighted-average number of shares outstanding used to compute diluted net income (loss) per share attributable to DoorDash, Inc. common stockholders365,340 27,608 403,383 26,859 414,718 24,968 
Diluted net income (loss) per share attributable to DoorDash, Inc. common stockholders$(1.42)$(1.42)$0.29 $0.29 $2.13 $2.13 
Schedule of Antidilutive Securities
The following outstanding shares of potentially dilutive securities were excluded from the computation of diluted net income (loss) per share because including such shares would have an anti-dilutive effect, or issuance of such shares is contingent upon the satisfaction of certain conditions which were not satisfied at the end of the respective periods (in thousands):
 
Year Ended December 31,
 202320242025
Stock options to purchase common stock9,022 — — 
Unvested restricted stock and restricted stock units38,072 10,801 10,179 
Escrow shares72 72 72 
Convertible notes
— — 5,574 
Warrants related to the issuance of convertible notes
— — 5,574 
Total47,166 10,873 21,399 
v3.26.1
Segment Reporting (Tables)
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Schedule of the Significant Segment Expense The significant segment expenses regularly provided to the CODM was as follows (in millions):
Year Ended December 31,
202320242025
Revenue$8,635 $10,722 $13,717 
Less:
Depreciation and amortization509 561 747 
Stock-based compensation1,088 1,099 1,051 
Cost of revenue*4,450 5,391 6,584 
Sales and marketing*1,757 1,920 2,369 
Research and development*537 663 904 
General and administrative*871 1,126 1,337 
Restructuring charges*2 — 2 
Total costs and expenses9,214 10,760 12,994 
Income (loss) from operations(579)(38)723 
Interest income, net152 199 211 
Other income (expense), net
(107)(5)5 
Income (loss) before income taxes(534)156 939 
Provision for income taxes31 39 7 
Net income (loss) including redeemable non-controlling interests(565)117 932 
Net loss attributable to redeemable non-controlling interests
(7)(6)(3)
Net income (loss) attributable to DoorDash, Inc. common stockholders$(558)$123 $935 
*Exclusive of stock-based compensation and depreciation and amortization shown separately.
v3.26.1
Organization, Consolidation and Presentation of Financial Statements (Details)
 12 Months Ended
Dec. 31, 2025
country
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Number of operating countries 40
v3.26.1
Summary of Significant Accounting Policies - Narrative (Details)
€ in Millions
 12 Months Ended
Dec. 31, 2025
USD ($)
segment
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Dec. 31, 2025
EUR (€)
Revenues from External Customers and Long-Lived Assets [Line Items]        
Number of reportable segments | segment 1      
Impairment charge $ 0 $ 0 $ 0  
Self insurance reserve 303,000,000 526,000,000 518,000,000  
Insurance reserves 1,114,000,000 1,049,000,000    
Change in estimate of gift card breakage 58,000,000 46,000,000 41,000,000  
Advertising expenses 1,600,000,000 1,300,000,000 $ 1,300,000,000  
Convertible Promissory Notes | December 2025 Convertible Notes        
Revenues from External Customers and Long-Lived Assets [Line Items]        
Debt issued $ 37,000,000     € 31
Minimum        
Revenues from External Customers and Long-Lived Assets [Line Items]        
Subscription revenue recognition period 1 month      
Maximum        
Revenues from External Customers and Long-Lived Assets [Line Items]        
Subscription revenue recognition period 1 year      
International        
Revenues from External Customers and Long-Lived Assets [Line Items]        
Long-lived assets $ 375,000,000 200,000,000    
Finland        
Revenues from External Customers and Long-Lived Assets [Line Items]        
Long-lived assets $ 173,000,000 $ 118,000,000    
v3.26.1
Summary of Significant Accounting Policies - Property and Equipment, Net (Details)
Dec. 31, 2025
Equipment for merchants  
Property, Plant and Equipment [Line Items]  
Estimated Useful Life 2 years
Computer equipment and software  
Property, Plant and Equipment [Line Items]  
Estimated Useful Life 2 years
Office equipment  
Property, Plant and Equipment [Line Items]  
Estimated Useful Life 5 years
Capitalized software and website development costs  
Property, Plant and Equipment [Line Items]  
Estimated Useful Life 2 years
v3.26.1
Summary of Significant Accounting Policies - Concentration of Credit Risk (Details)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Accounts Receivable | Customer Concentration Risk | Customer One    
Concentration Risk [Line Items]    
Concentration risk (percent) 12.00% 13.00%
v3.26.1
Summary of Significant Accounting Policies - Net Loss Attributable to Common Stockholders (Details) - Class C Common Stock - shares
Dec. 31, 2025
Dec. 31, 2024
Class of Stock [Line Items]    
Common stock, issued (shares) 0 0
Common stock, outstanding (in shares) 0 0
v3.26.1
Summary of Significant Accounting Policies - Leases (Details)
 12 Months Ended
Dec. 31, 2025
Minimum  
Lessee, Lease, Description [Line Items]  
Initial lease term 1 year
Term of sublease 2 years
Maximum  
Lessee, Lease, Description [Line Items]  
Initial lease term 15 years
Term of sublease 8 years
v3.26.1
Revenue - Disaggregated Revenue (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Disaggregation of Revenue [Line Items]      
Total revenue $ 13,717 $ 10,722 $ 8,635
United States      
Disaggregation of Revenue [Line Items]      
Total revenue 11,460 9,403 7,781
International      
Disaggregation of Revenue [Line Items]      
Total revenue $ 2,257 $ 1,319 $ 854
v3.26.1
Revenue - Contract Liabilities (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2025
USD ($)
Contract Liabilities [Roll Forward]  
Beginning balance $ 396
Addition to contract liabilities 3,835
Reduction of contract liabilities (3,684)
Ending balance 547
Unearned prepayments received $ 228
v3.26.1
Revenue - Rollforward of Deferred Contract Costs (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Capitalized Contract Cost [Roll Forward]      
Beginning balance $ 157 $ 137 $ 100
Addition to deferred contract costs 111 80 82
Amortization of deferred contract costs (77) (60) (45)
Ending balance $ 191 $ 157 $ 137
v3.26.1
Revenue - Deferred Contract Costs (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Revenue from Contract with Customer [Abstract]        
Deferred contract costs, current $ 79 $ 64 $ 51  
Deferred contract costs, non-current 112 93 86  
Total deferred contract costs $ 191 $ 157 $ 137 $ 100
v3.26.1
Revenue - Allowance For Credit Losses (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Accounts Receivable, Allowance for Credit Loss [Roll Forward]      
Beginning balance $ 22 $ 17 $ 20
Current-period provision for expected credit losses 37 15 8
Write-offs charged against the allowance (14) (10) (11)
Ending balance $ 45 $ 22 $ 17
v3.26.1
Acquisitions - Deliveroo Acquisition Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Oct. 02, 2025
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Business Combination [Line Items]        
Goodwill   $ 5,519 $ 2,315 $ 2,432
Deliveroo Acquisition        
Business Combination [Line Items]        
Acquisition-related costs   58    
Total consideration $ 3,724      
Replacement equity awards   80    
Business Combination, Consideration Transferred, Equity Interest 2 2    
Goodwill $ 1,950      
Revenue included in consolidated statements of operations   347    
Net loss included in consolidated statements of operations   $ 49    
v3.26.1
Acquisitions - Deliveroo Acquisition- Fair Value of the Consideration (Details) - Deliveroo Acquisition - USD ($)
$ in Millions
 12 Months Ended
Oct. 02, 2025
Dec. 31, 2025
Business Combination [Line Items]    
Consideration payable $ 3,722  
Stock-based compensation awards attributable to pre-combination services 2 $ 2
Total consideration $ 3,724  
v3.26.1
Acquisitions - Deliveroo Acquisition- Assets Acquired and Liabilities Assumed (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Oct. 02, 2025
Dec. 31, 2024
Dec. 31, 2023
Business Combination [Line Items]        
Goodwill $ 5,519   $ 2,315 $ 2,432
Deliveroo Acquisition        
Business Combination [Line Items]        
Current assets   $ 1,217    
Intangible assets   1,498    
Goodwill   1,950    
Other non-current assets   98    
Current liabilities   (748)    
Contingent liabilities   (102)    
Deferred tax liability, net   (156)    
Other non-current liabilities   (33)    
Total   $ 3,724    
v3.26.1
Acquisitions - Deliveroo Acquisition-Identifiable Intangible Assets Acquired (Details) - Deliveroo Acquisition
$ in Millions
Oct. 02, 2025
USD ($)
Intangible Asset, Acquired, Finite-Lived [Line Items]  
Intangible assets $ 1,498
Restaurant merchant relationships  
Intangible Asset, Acquired, Finite-Lived [Line Items]  
Estimated Useful Life 11 years
Intangible assets $ 486
Trade name  
Intangible Asset, Acquired, Finite-Lived [Line Items]  
Estimated Useful Life 10 years
Intangible assets $ 297
Customer relationships  
Intangible Asset, Acquired, Finite-Lived [Line Items]  
Estimated Useful Life 4 years
Intangible assets $ 445
New vertical merchant relationships  
Intangible Asset, Acquired, Finite-Lived [Line Items]  
Estimated Useful Life 4 years
Intangible assets $ 40
Developed technology  
Intangible Asset, Acquired, Finite-Lived [Line Items]  
Estimated Useful Life 2 years
Intangible assets $ 216
Rider relationships  
Intangible Asset, Acquired, Finite-Lived [Line Items]  
Estimated Useful Life 2 years
Intangible assets $ 14
v3.26.1
Acquisitions - Deliveroo Acquisition- Unaudited Pro Forma (Details) - Deliveroo Acquisition - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Business Combination, Pro Forma Information [Line Items]    
Revenue $ 14,743 $ 11,984
Net income (loss) $ 925 $ (103)
v3.26.1
Acquisitions - SevenRooms Acquisition Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Jun. 13, 2025
Dec. 31, 2024
Dec. 31, 2023
Business Combination [Line Items]        
Goodwill $ 5,519   $ 2,315 $ 2,432
SevenRooms Acquisition        
Business Combination [Line Items]        
Interests acquired (as a percent)   100.00%    
Acquisition-related costs 13      
Deferred cash consideration 201      
Deferred cash consideration remaining 49      
Holdback consideration for acquisitions 38      
Compensation costs 56      
Goodwill $ 886 $ 886    
v3.26.1
Acquisitions - SevenRooms Acquisition - Fair Value of the Consideration (Details) - SevenRooms Acquisition
$ in Millions
Jun. 13, 2025
USD ($)
Business Combination [Line Items]  
Cash $ 902
Deferred cash consideration 250
Total purchase consideration $ 1,152
v3.26.1
Acquisitions - SevenRooms Acquisition - Assets Acquired and Liabilities Assumed (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Jun. 13, 2025
Dec. 31, 2024
Dec. 31, 2023
Business Combination [Line Items]        
Goodwill $ 5,519   $ 2,315 $ 2,432
SevenRooms Acquisition        
Business Combination [Line Items]        
Current assets   $ 28    
Intangible assets   365    
Goodwill $ 886 886    
Other non-current assets   2    
Current liabilities   (106)    
Deferred tax liability, net   (23)    
Total   $ 1,152    
v3.26.1
Acquisitions - SevenRooms Acquisition-Identifiable Intangible Assets Acquired (Details) - SevenRooms Acquisition
$ in Millions
Jun. 13, 2025
USD ($)
Intangible Asset, Acquired, Finite-Lived [Line Items]  
Intangible assets $ 365
Existing technology  
Intangible Asset, Acquired, Finite-Lived [Line Items]  
Estimated Useful Life 6 years
Intangible assets $ 139
Strategic customer relationships  
Intangible Asset, Acquired, Finite-Lived [Line Items]  
Estimated Useful Life 14 years
Intangible assets $ 165
Other customer relationships  
Intangible Asset, Acquired, Finite-Lived [Line Items]  
Estimated Useful Life 7 years
Intangible assets $ 55
Trade name  
Intangible Asset, Acquired, Finite-Lived [Line Items]  
Estimated Useful Life 4 years
Intangible assets $ 6
v3.26.1
Acquisitions - Symbiosys Acquisition Narrative (Details) - Symbiosys Acquisition - USD ($)
$ in Millions
 12 Months Ended
May 28, 2025
Dec. 31, 2025
Business Combination [Line Items]    
Total purchase consideration $ 121  
Deferred cash consideration   $ 11
Deferred cash consideration remaining   18
Holdback consideration for acquisitions   14
Compensation costs   53
Intangible assets $ 19  
Existing technology    
Business Combination [Line Items]    
Intangible assets   $ 17
Estimated useful life   4 years
Customer relationships    
Business Combination [Line Items]    
Intangible assets   $ 2
Estimated useful life   3 years
v3.26.1
Acquisitions - Symbiosys Acquisition- Fair Value of Consideration (Details) - Symbiosys Acquisition
$ in Millions
May 28, 2025
USD ($)
Business Combination [Line Items]  
Cash $ 89
Deferred cash consideration 29
Fair value of previously held equity interest 3
Total consideration $ 121
v3.26.1
Acquisitions - Symbiosys Acquisition - Assets Acquired and Liabilities Assumed (Details) - USD ($)
$ in Millions
Dec. 31, 2025
May 28, 2025
Dec. 31, 2024
Dec. 31, 2023
Business Combination [Line Items]        
Goodwill $ 5,519   $ 2,315 $ 2,432
Symbiosys Acquisition        
Business Combination [Line Items]        
Current assets   $ 7    
Intangible assets   19    
Goodwill   102    
Current liabilities   (5)    
Other non-current liabilities   (2)    
Total   $ 121    
v3.26.1
Acquisitions - Other Acquisition Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2025
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Business Combination [Line Items]        
Goodwill   $ 5,519 $ 2,315 $ 2,432
2025 Acquisition        
Business Combination [Line Items]        
Total purchase consideration $ 28      
Goodwill $ 21      
v3.26.1
Goodwill and Intangible Assets, Net - Goodwill (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Goodwill [Roll Forward]    
Goodwill, Beginning Balance $ 2,315 $ 2,432
Goodwill measurement period adjustments 41  
Acquisitions 2,918  
Effects of foreign currency translation 245 (117)
Goodwill, Ending Balance $ 5,519 $ 2,315
v3.26.1
Goodwill and Intangible Assets, Net - Narrative (Details) - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]      
Impairment charge $ 0 $ 0 $ 0
Amortization of intangible assets $ 212,000,000 $ 125,000,000 $ 127,000,000
v3.26.1
Goodwill and Intangible Assets, Net - Intangible Assets (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Finite-Lived Intangible Assets [Line Items]    
Gross Carrying Value $ 2,900 $ 913
Accumulated Amortization (640) (403)
Net Carrying Value $ 2,260 $ 510
Existing technology    
Finite-Lived Intangible Assets [Line Items]    
Weighted-average Remaining Useful Life (in years) 3 years 1 month 6 days 3 years 3 months 18 days
Gross Carrying Value $ 622 $ 232
Accumulated Amortization (222) (142)
Net Carrying Value $ 400 $ 90
Merchant relationships    
Finite-Lived Intangible Assets [Line Items]    
Weighted-average Remaining Useful Life (in years) 9 years 3 months 18 days 8 years 3 months 18 days
Gross Carrying Value $ 854 $ 286
Accumulated Amortization (122) (82)
Net Carrying Value $ 732 $ 204
Rider relationships    
Finite-Lived Intangible Assets [Line Items]    
Weighted-average Remaining Useful Life (in years) 1 year 9 months 18 days  
Gross Carrying Value $ 14  
Accumulated Amortization (2)  
Net Carrying Value $ 12  
Customer relationships    
Finite-Lived Intangible Assets [Line Items]    
Weighted-average Remaining Useful Life (in years) 6 years 6 months 4 months 24 days
Gross Carrying Value $ 798 $ 116
Accumulated Amortization (169) (101)
Net Carrying Value $ 629 $ 15
Trade name and trademarks    
Finite-Lived Intangible Assets [Line Items]    
Weighted-average Remaining Useful Life (in years) 8 years 4 months 24 days 7 years 4 months 24 days
Gross Carrying Value $ 602 $ 269
Accumulated Amortization (119) (75)
Net Carrying Value $ 483 $ 194
Assembled workforce in asset acquisitions    
Finite-Lived Intangible Assets [Line Items]    
Weighted-average Remaining Useful Life (in years) 1 year 3 months 18 days 2 years 2 months 12 days
Gross Carrying Value $ 10 $ 10
Accumulated Amortization (6) (3)
Net Carrying Value $ 4 $ 7
v3.26.1
Goodwill and Intangible Assets, Net - Future Amortization Expense (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]    
2026 $ 456  
2027 424  
2028 317  
2029 267  
2030 173  
Thereafter 623  
Net carrying value / total estimated amortization expense $ 2,260 $ 510
v3.26.1
Fair Value Measurements - Schedule of Assets Measured at Fair Value on Recurring Basis (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term investments $ 1,128 $ 1,322
Long-term investments 837 835
Total 3,772 4,449
Certificates of deposit    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term investments 25 39
Commercial paper    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents   5
Short-term investments 32 76
Long-term investments   2
Corporate bonds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term investments 470 509
Long-term investments 464 420
U.S. government agency securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term investments 30 33
Long-term investments 91 74
U.S. Treasury securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents 1 15
Short-term investments 361 612
Long-term investments 282 339
Mutual funds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term investments 59 53
Money market funds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents 1,905 2,272
Other assets 15  
Non-marketable investment    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Other assets 37  
Time deposits    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents 26  
Short-term investments 151  
Money market funds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents 1,905 2,272
Commercial paper    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents   5
U.S. Treasury securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents 1 15
Time deposits    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents 26  
Level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Total 1,979 2,325
Level 1 | Certificates of deposit    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term investments 0 0
Level 1 | Commercial paper    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term investments 0 0
Long-term investments   0
Level 1 | Corporate bonds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term investments 0 0
Long-term investments 0 0
Level 1 | U.S. government agency securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term investments 0 0
Long-term investments 0 0
Level 1 | U.S. Treasury securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term investments 0 0
Long-term investments 0 0
Level 1 | Mutual funds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term investments 59 53
Level 1 | Money market funds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Other assets 15  
Level 1 | Non-marketable investment    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Other assets 0  
Level 1 | Money market funds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents 1,905 2,272
Level 1 | Commercial paper    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents   0
Level 1 | U.S. Treasury securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents 0 0
Level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Total 1,756 2,124
Level 2 | Certificates of deposit    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term investments 25 39
Level 2 | Commercial paper    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term investments 32 76
Long-term investments   2
Level 2 | Corporate bonds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term investments 470 509
Long-term investments 464 420
Level 2 | U.S. government agency securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term investments 30 33
Long-term investments 91 74
Level 2 | U.S. Treasury securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term investments 361 612
Long-term investments 282 339
Level 2 | Mutual funds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term investments 0 0
Level 2 | Money market funds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Other assets 0  
Level 2 | Non-marketable investment    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Other assets 0  
Level 2 | Money market funds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents 0 0
Level 2 | Commercial paper    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents   5
Level 2 | U.S. Treasury securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents 1 15
Level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Total 37 0
Level 3 | Certificates of deposit    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term investments 0 0
Level 3 | Commercial paper    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term investments 0 0
Long-term investments   0
Level 3 | Corporate bonds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term investments 0 0
Long-term investments 0 0
Level 3 | U.S. government agency securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term investments 0 0
Long-term investments 0 0
Level 3 | U.S. Treasury securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term investments 0 0
Long-term investments 0 0
Level 3 | Mutual funds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Short-term investments 0 0
Level 3 | Money market funds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Other assets 0  
Level 3 | Non-marketable investment    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Other assets 37  
Level 3 | Money market funds    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents 0 0
Level 3 | Commercial paper    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents   0
Level 3 | U.S. Treasury securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Cash equivalents $ 0 $ 0
v3.26.1
Fair Value Measurements - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Purchases of non-marketable investments $ 13 $ 0 $ 23
Non-marketable investment      
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]      
Other assets $ 37    
v3.26.1
Fair Value Measurements - Summary of Unrealized Gains and Losses (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Fair Value Disclosures [Abstract]      
Upward adjustments $ 16 $ 2 $ 0
Downward adjustments (including impairment) (2) (6) (101)
Total unrealized gain (loss) for non-marketable equity securities $ 14 $ (4) $ (101)
v3.26.1
Fair Value Measurements - Carrying Value of our Non-Marketable Equity Securities (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Fair Value Disclosures [Abstract]    
Initial cost basis $ 460 $ 450
Upward adjustments 24 11
Downward adjustments (including impairment) (415) (419)
Total carrying value at the end of reporting period $ 69 $ 42
v3.26.1
Balance Sheet Components - Cash Equivalents and Investments (Details) - USD ($)
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash equivalents      
Cash equivalents, cost or amortized cost $ 4,378,000,000 $ 4,019,000,000 $ 2,656,000,000
Short-term investments      
Short-term marketable securities, estimated fair value 1,128,000,000 1,322,000,000  
Long-term investments      
Long-term marketable securities, estimated fair value 837,000,000 835,000,000  
Total 3,891,000,000 4,448,000,000  
Total, unrealized gains 6,000,000 3,000,000  
Total, unrealized losses 0 (2,000,000)  
Total, estimated fair value 3,897,000,000 4,449,000,000  
Allowance for credit loss 0 0  
Money market funds      
Cash equivalents      
Cash equivalents, cost or amortized cost 1,905,000,000 2,272,000,000  
Cash equivalents, unrealized gain 0 0  
Cash equivalents paper, unrealized loss 0 0  
Cash equivalents, Estimated Fair Value 1,905,000,000 2,272,000,000  
Commercial paper      
Cash equivalents      
Cash equivalents, cost or amortized cost   5,000,000  
Cash equivalents, unrealized gain   0  
Cash equivalents paper, unrealized loss   0  
Cash equivalents, Estimated Fair Value   5,000,000  
Short-term investments      
Short-term marketable securities, cost or amortized cost 32,000,000 76,000,000  
Short-term marketable securities, unrealized gains 0 0  
Short-term marketable securities, unrealized losses 0 0  
Short-term marketable securities, estimated fair value 32,000,000 76,000,000  
Long-term investments      
Long-term marketable securities, cost or amortized cost   2,000,000  
Long-term marketable securities, unrealized gains   0  
Long-term marketable securities, unrealized losses   0  
Long-term marketable securities, estimated fair value   2,000,000  
U.S. Treasury securities      
Cash equivalents      
Cash equivalents, cost or amortized cost 1,000,000 15,000,000  
Cash equivalents, unrealized gain 0 0  
Cash equivalents paper, unrealized loss 0 0  
Cash equivalents, Estimated Fair Value 1,000,000 15,000,000  
Short-term investments      
Short-term marketable securities, cost or amortized cost 360,000,000 611,000,000  
Short-term marketable securities, unrealized gains 1,000,000 1,000,000  
Short-term marketable securities, unrealized losses 0 0  
Short-term marketable securities, estimated fair value 361,000,000 612,000,000  
Long-term investments      
Long-term marketable securities, cost or amortized cost 281,000,000 340,000,000  
Long-term marketable securities, unrealized gains 1,000,000 0  
Long-term marketable securities, unrealized losses 0 (1,000,000)  
Long-term marketable securities, estimated fair value 282,000,000 339,000,000  
Certificates of deposit      
Short-term investments      
Short-term marketable securities, cost or amortized cost 25,000,000 39,000,000  
Short-term marketable securities, unrealized gains 0 0  
Short-term marketable securities, unrealized losses 0 0  
Short-term marketable securities, estimated fair value 25,000,000 39,000,000  
Corporate bonds      
Short-term investments      
Short-term marketable securities, cost or amortized cost 469,000,000 508,000,000  
Short-term marketable securities, unrealized gains 1,000,000 1,000,000  
Short-term marketable securities, unrealized losses 0 0  
Short-term marketable securities, estimated fair value 470,000,000 509,000,000  
Long-term investments      
Long-term marketable securities, cost or amortized cost 463,000,000 420,000,000  
Long-term marketable securities, unrealized gains 1,000,000 1,000,000  
Long-term marketable securities, unrealized losses 0 (1,000,000)  
Long-term marketable securities, estimated fair value 464,000,000 420,000,000  
U.S. government agency securities      
Short-term investments      
Short-term marketable securities, cost or amortized cost 30,000,000 33,000,000  
Short-term marketable securities, unrealized gains 0 0  
Short-term marketable securities, unrealized losses 0 0  
Short-term marketable securities, estimated fair value 30,000,000 33,000,000  
Long-term investments      
Long-term marketable securities, cost or amortized cost 91,000,000 74,000,000  
Long-term marketable securities, unrealized gains 0 0  
Long-term marketable securities, unrealized losses 0 0  
Long-term marketable securities, estimated fair value 91,000,000 74,000,000  
Time deposits      
Cash equivalents      
Cash equivalents, cost or amortized cost 26,000,000    
Cash equivalents, unrealized gain 0    
Cash equivalents paper, unrealized loss 0    
Cash equivalents, Estimated Fair Value 26,000,000    
Short-term investments      
Short-term marketable securities, cost or amortized cost 151,000,000    
Short-term marketable securities, unrealized gains 0    
Short-term marketable securities, unrealized losses 0    
Short-term marketable securities, estimated fair value 151,000,000    
Mutual funds      
Short-term investments      
Short-term marketable securities, cost or amortized cost 57,000,000 53,000,000  
Short-term marketable securities, unrealized gains 2,000,000 0  
Short-term marketable securities, unrealized losses 0 0  
Short-term marketable securities, estimated fair value $ 59,000,000 $ 53,000,000  
v3.26.1
Balance Sheet Components - Prepaid Expenses and Other Current Assets (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Balance Sheet Related Disclosures [Abstract]    
Prepaid expenses $ 414 $ 237
Deferred contract costs, current 79 64
Other receivables 279 133
Other current assets 397 253
Total $ 1,169 $ 687
v3.26.1
Balance Sheet Components - Property and Equipment, Net (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Property, Plant and Equipment [Line Items]      
Total $ 2,721 $ 1,974  
Less: Accumulated depreciation and amortization (1,654) (1,196)  
Property and equipment, net 1,067 778  
Depreciation expense 165 118 $ 126
Capitalized software and website development costs 556 386 362
Amortization of capitalized software and website development costs 370 318 $ 256
Equipment for merchants      
Property, Plant and Equipment [Line Items]      
Total 235 190  
Computer equipment and software      
Property, Plant and Equipment [Line Items]      
Total 126 96  
Capitalized software and website development costs      
Property, Plant and Equipment [Line Items]      
Total 1,895 1,339  
Leasehold improvements      
Property, Plant and Equipment [Line Items]      
Total 268 211  
Office equipment      
Property, Plant and Equipment [Line Items]      
Total 149 77  
Construction in progress      
Property, Plant and Equipment [Line Items]      
Total $ 48 $ 61  
v3.26.1
Balance Sheet Components - Accrued Expenses and Other Current Liabilities (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Balance Sheet Related Disclosures [Abstract]    
Litigation reserves $ 263 $ 160
Sales tax payable and accrued sales and indirect taxes 589 337
Accrued operations related expenses 502 446
Accrued advertising 170 142
Dasher and merchant payable 1,703 1,136
Insurance reserves 1,114 1,049
Contract liabilities 547 396
Other 757 383
Total $ 5,645 $ 4,049
v3.26.1
Leases - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Leases [Abstract]      
Office lease impairment expenses $ 11 $ 83 $ 0
Future minimum sublease income $ 42    
v3.26.1
Leases - Components of Lease Cost (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Leases [Abstract]      
Operating lease costs $ 118 $ 103 $ 108
Short-term lease costs 16 16 12
Sublease income (5) (2) (3)
Total lease costs $ 129 $ 117 117
Weighted-average remaining lease term (in years) 6 years 3 months 25 days 7 years 5 months 12 days  
Weighted-average discount rate 6.55% 6.79%  
Cash paid for amounts included in the measurement of lease liabilities      
Operating cash flows for operating leases $ 125 $ 116 113
ROU assets obtained in exchange for new lease liabilities      
Operating leases $ 72 $ 81 $ 85
v3.26.1
Leases - Future Minimum Lease Payments under Operating Leases (Details)
$ in Millions
Dec. 31, 2025
USD ($)
Leases [Abstract]  
2026 $ 138
2027 117
2028 99
2029 86
2030 78
Thereafter 192
Total future minimum lease payments 710
Less: Imputed interest (138)
Less: Tenant improvement receivable (6)
Present value of future minimum lease payments $ 566
v3.26.1
Convertible Notes, Net - Narrative (Details)
$ / shares in Units, shares in Millions, $ in Millions
 1 Months Ended 12 Months Ended
May 31, 2025
USD ($)
$ / shares
shares
Dec. 31, 2025
USD ($)
day
$ / shares
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Debt Instrument [Line Items]        
Initial purchase (in shares) | shares 9.4      
Net hedge amount $ 680      
Amount with right to purchase | shares 9.4      
Proceeds from issuance of warrants $ 341 $ 341 $ 0 $ 0
Net cost of purchase $ 339      
Convertible Senior Notes Due 2030        
Debt Instrument [Line Items]        
Initial conversion rate   0.003425    
Common stock price per share (in dollars per share) | $ / shares $ 512.225      
Convertible Senior Notes Due 2030 | Convertible Debt        
Debt Instrument [Line Items]        
Debt issued $ 2,750      
Stated interest rate (as a percent) 0.00%      
Debt issuance costs $ 2,720      
Interest rate percentage 0.50%      
Conversion price (in dollars per share) | $ / shares $ 291.97      
Share price (in dollars per share) | $ / shares   $ 226.48    
Fundamental change repurchase price (as a percent)   100.00%    
Interest rate   0.22%    
Fair value   $ 2,900    
Convertible Senior Notes Due 2030 | Convertible Debt | Debt Conversion Terms One        
Debt Instrument [Line Items]        
Threshold percentage of stock price trigger   130.00%    
Threshold trading days | day   20    
Threshold consecutive trading days | day   30    
Convertible Senior Notes Due 2030 | Convertible Debt | Debt Conversion Terms Two        
Debt Instrument [Line Items]        
Threshold percentage of stock price trigger   98.00%    
Threshold trading days | day   5    
Threshold consecutive trading days | day   10    
v3.26.1
Convertible Notes, Net-Schedule of Convertible Debt (Details) - Convertible Senior Notes Due 2030
$ in Millions
Dec. 31, 2025
USD ($)
Debt Instrument, Redemption [Line Items]  
Principal $ 2,750
Less: debt issuance costs, net of amortization (26)
Carrying value, net $ 2,724
v3.26.1
Commitments and Contingencies - Narrative (Details)
£ / shares in Units, $ in Millions, £ in Billions
 1 Months Ended 12 Months Ended
May 06, 2025
GBP (£)
£ / shares
Apr. 26, 2024
USD ($)
Sep. 30, 2025
USD ($)
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Oct. 02, 2025
USD ($)
May 06, 2025
USD ($)
Line of Credit Facility [Line Items]              
Indemnification liability       $ 0 $ 0    
Letters of credit outstanding       106 141    
Escrow deposit, conversion of amount from U.S dollar to pounds           $ 3,800  
Deliveroo PLC              
Line of Credit Facility [Line Items]              
Purchase price (pence per share) | £ / shares £ 1.8            
Total purchase consideration | £ £ 2.8            
Revolving Credit Facility | Amended and Restated Revolving Credit and Guaranty Agreement Maturing April 2029              
Line of Credit Facility [Line Items]              
Revolving credit facility, maximum borrowing capacity   $ 800          
Unused commitment fee (percent)   0.10%          
Letters of credit outstanding       61 112    
Revolving Credit Facility | Amended and Restated Revolving Credit and Guaranty Agreement Maturing April 2029 | Higher of Federal Funds Rate or Composite Overnight Bank Borrowing Rate              
Line of Credit Facility [Line Items]              
Basis spread on variable rate (percent)   0.50%          
Revolving Credit Facility | Amended and Restated Revolving Credit and Guaranty Agreement Maturing April 2029 | Secured Overnight Financing Rate (SOFR)              
Line of Credit Facility [Line Items]              
Basis spread on variable rate (percent)   1.00%          
Revolving Credit Facility | Amended and Restated Revolving Credit and Guaranty Agreement Maturing April 2029 | Adjusted Secured Overnight Financing Rate              
Line of Credit Facility [Line Items]              
Basis spread on variable rate (percent)   1.00%          
Revolving Credit Facility | Amended and Restated Revolving Credit and Guaranty Agreement Maturing August 7, 2025              
Line of Credit Facility [Line Items]              
Drawn from the revolving credit facility       0 $ 0    
Letter of Credit | Amended and Restated Revolving Credit and Guaranty Agreement Maturing April 2029              
Line of Credit Facility [Line Items]              
Revolving credit facility, maximum borrowing capacity   $ 600          
Secured Debt | Bridge Credit Agreement | Line of Credit              
Line of Credit Facility [Line Items]              
Debt issued             $ 2,850
Secured Debt | Bridge Credit Agreement | Line of Credit | Tranche A              
Line of Credit Facility [Line Items]              
Debt issued             1,500
Secured Debt | Bridge Credit Agreement | Line of Credit | Tranche B              
Line of Credit Facility [Line Items]              
Debt issued             $ 1,350
Surety Bond              
Line of Credit Facility [Line Items]              
Collateral       607      
Collateral outstanding       $ 607      
Settled Litigation              
Line of Credit Facility [Line Items]              
Loss contingency, damages awarded, value     $ 2        
v3.26.1
Commitments and Contingencies - Noncancelable Purchase Commitments (Details) - Capital Addition Purchase Commitments
$ in Millions
Dec. 31, 2025
USD ($)
Recorded Unconditional Purchase Obligation [Line Items]  
2026 $ 1,049
2027 1,090
2028 1,020
2029 1,054
2030 1,087
Total future minimum payments $ 5,300
v3.26.1
Common Stock - Narrative (Details)
 1 Months Ended 12 Months Ended
Jan. 01, 2021
shares
Dec. 08, 2020
day
shares
Nov. 30, 2020
USD ($)
employee
tranche
$ / shares
shares
Dec. 31, 2025
USD ($)
purchasePeriod
$ / shares
shares
Dec. 31, 2024
USD ($)
purchasePeriod
$ / shares
shares
Dec. 31, 2023
USD ($)
$ / shares
shares
Feb. 28, 2025
USD ($)
Feb. 29, 2024
USD ($)
May 31, 2022
shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                  
Stock repurchase program, authorized amount | $             $ 5,000,000,000.0    
Share repurchase program, remaining authorized, amount | $               $ 876,000,000  
Number of shares repurchased (in shares)       0          
Common stock reserved for future issuance on an as-converted basis (in shares)       111,480,000 105,062,000       9,760,000
Total stock-based compensation expense | $       $ 1,051,000,000 $ 1,099,000,000 $ 1,088,000,000      
Options exercised, aggregate intrinsic value | $       $ 441,000,000 $ 580,000,000 $ 510,000,000      
Options granted (in shares)       0 0 0      
2020 Equity Incentive Plan                  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                  
Number of business days prior to effective date of registration statement that the 2020 Plan became effective | day   1              
2020 Equity Incentive Plan | Class A                  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                  
Shares authorized (in shares) 32,493,000                
Percent of outstanding shares 5.00%                
Restricted Stock                  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                  
Derived service period of award       4 years          
Granted (in shares)       0          
Granted (in dollars per share) | $ / shares       $ 0          
Number of RSUs eligible to vest (in shares)       74,000 92,000        
Stock options to purchase common stock                  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                  
Common stock reserved for future issuance on an as-converted basis (in shares)       2,411,000 4,516,000        
Unrecognized stock-based compensation expense related to unvested stock options | $       $ 99,000          
Unrecognized stock-based compensation expense related to unvested stock options, remaining period for recognition       3 months 29 days          
Stock options to purchase common stock | 2014 Stock Option Plan                  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                  
Option term       10 years          
Option grant price as percent of fair value of stock price (not less than)       100.00%          
Award vesting period       4 years          
Stock options to purchase common stock | 2020 Equity Incentive Plan                  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                  
Option term       10 years          
Option grant price as percent of fair value of stock price (not less than)       100.00%          
Award vesting period       4 years          
Incentive Stock Option Grant to a Greater than 10% Stockholder | 2014 Stock Option Plan                  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                  
Option term       5 years          
Option grant price as percent of fair value of stock price (not less than)       110.00%          
Incentive Stock Option Grant to a Greater than 10% Stockholder | 2020 Equity Incentive Plan                  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                  
Option term       5 years          
Option grant price as percent of fair value of stock price (not less than)       110.00%          
Unvested restricted stock units                  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                  
Common stock reserved for future issuance on an as-converted basis (in shares)       24,031,000 29,566,000        
Granted (in shares)       9,143,000          
Granted (in dollars per share) | $ / shares       $ 195.33          
Number of RSUs eligible to vest (in shares)       23,961,000 29,535,000        
Unrecognized stock-based compensation expense related to unvested stock options | $       $ 1,900,000,000          
Shares granted and assumed in period (in dollars per share) | $ / shares       $ 195.33 $ 128.17 $ 65.06      
Unrecognized stock-based compensation expense related to unvested stock options, remaining period for recognition       2 years 3 months 21 days          
Unvested restricted stock units | Chief Executive Officer                  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                  
Aggregate grant date fair value | $     $ 413,000,000            
Unvested restricted stock units | Service-based Vesting Condition                  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                  
Award vesting period       4 years          
CEO Performance Award | 2014 Equity Incentive Plan | Chief Executive Officer                  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                  
Option term     7 years            
Award vesting period     18 months            
Granted (in shares)     10,379,000            
Number of vesting tranches | tranche     9            
Number of consecutive trading days included in stock target price measurement period | employee     180            
Granted (in dollars per share) | $ / shares     $ 39.8275            
Total stock-based compensation expense | $       $ 7,000,000 $ 67,000,000 $ 104,000,000      
Unrecognized stock-based compensation expense related to unvested stock options | $       $ 0          
CEO Performance Award | 2014 Equity Incentive Plan | Chief Executive Officer | Minimum                  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                  
Derived service period of award     2 years 6 months 10 days            
Company stock price target (in dollars per share) | $ / shares     $ 187.60            
CEO Performance Award | 2014 Equity Incentive Plan | Chief Executive Officer | Maximum                  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                  
Derived service period of award     4 years 5 months 1 day            
Company stock price target (in dollars per share) | $ / shares     $ 501.00            
CEO Performance Award | 2014 Equity Incentive Plan | Tranche 1 | Chief Executive Officer                  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                  
Company stock price target (in dollars per share) | $ / shares     $ 187.60            
Number of RSUs eligible to vest (in shares)     518,950            
CEO Performance Award | 2014 Equity Incentive Plan | Tranche 2 | Chief Executive Officer                  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                  
Company stock price target (in dollars per share) | $ / shares     $ 226.80            
Number of RSUs eligible to vest (in shares)     518,950            
Employee Stock Purchase Plan                  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                  
Number of open purchase periods under the ESPP | purchasePeriod       0 0        
Employee Stock Purchase Plan | 2020 Employee Stock Purchase Plan | Class A                  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]                  
Shares authorized (in shares) 6,498,600                
Percent of outstanding shares 1.50%                
Common stock reserved for future issuance on an as-converted basis (in shares)   6,498,600              
v3.26.1
Common Stock - Restricted Stock (Details) - Restricted Stock
shares in Thousands
 12 Months Ended
Dec. 31, 2025
$ / shares
shares
Number of Shares  
Unvested, beginning balance (in shares) 92
Granted (in shares) 0
Vested (in shares) (18)
Forfeited (in shares) 0
Unvested, ending balance (in shares) 74
Weighted- Average Grant Date Fair Value  
Granted (in dollars per share) | $ / shares $ 0
Vested (in dollars per share) | $ / shares 76.91
Forfeited (in dollars per share) | $ / shares $ 0
v3.26.1
Common Stock - Reserved for Future Issuance (Details) - shares
Dec. 31, 2025
Dec. 31, 2024
May 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Common stock reserved for future issuance on an as-converted basis (in shares) 111,480,000 105,062,000 9,760,000
Stock options issued and outstanding under the 2014 Plan and Inducement Plan      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Common stock reserved for future issuance on an as-converted basis (in shares) 2,411,000 4,516,000  
RSUs outstanding under the 2014 Plan, 2020 Plan and Inducement Plan      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Common stock reserved for future issuance on an as-converted basis (in shares) 24,031,000 29,566,000  
Remaining shares available for future issuance      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Common stock reserved for future issuance on an as-converted basis (in shares) 78,539,000 64,481,000  
Shares available for issuance under the 2020 Employee Stock Purchase Plan      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Common stock reserved for future issuance on an as-converted basis (in shares) 6,499,000 6,499,000  
v3.26.1
Common Stock - CEO Performance Awards (Details) - Chief Executive Officer - CEO Performance Award - 2014 Equity Incentive Plan
 1 Months Ended
Nov. 30, 2020
$ / shares
shares
Tranche 1  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Company stock price target (in dollars per share) | $ / shares $ 187.60
Number of RSUs eligible to vest (in shares) | shares 518,950
Tranche 2  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Company stock price target (in dollars per share) | $ / shares $ 226.80
Number of RSUs eligible to vest (in shares) | shares 518,950
Tranche 3  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Company stock price target (in dollars per share) | $ / shares $ 265.80
Number of RSUs eligible to vest (in shares) | shares 1,037,900
Tranche 4  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Company stock price target (in dollars per share) | $ / shares $ 305.00
Number of RSUs eligible to vest (in shares) | shares 1,037,900
Tranche 5  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Company stock price target (in dollars per share) | $ / shares $ 344.00
Number of RSUs eligible to vest (in shares) | shares 1,037,900
Tranche 6  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Company stock price target (in dollars per share) | $ / shares $ 383.00
Number of RSUs eligible to vest (in shares) | shares 1,556,850
Tranche 7  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Company stock price target (in dollars per share) | $ / shares $ 422.20
Number of RSUs eligible to vest (in shares) | shares 1,556,850
Tranche 8  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Company stock price target (in dollars per share) | $ / shares $ 461.20
Number of RSUs eligible to vest (in shares) | shares 1,556,850
Tranche 9  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Company stock price target (in dollars per share) | $ / shares $ 501.00
Number of RSUs eligible to vest (in shares) | shares 1,556,850
v3.26.1
Common Stock - Options Outstanding (Details) - USD ($)
$ / shares in Units, $ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Shares subject to Options Outstanding      
Shares subject to options outstanding, beginning balance (in shares) 4,516,000    
Options granted (in shares) 0 0 0
Options exercised (in shares) (2,104,000)    
Options forfeited (in shares) (1,000)    
Shares subject to options outstanding, ending balance (in shares) 2,411,000 4,516,000  
Exercisable (in shares) 2,374,000    
Vested and expected to vest (in shares) 2,411,000    
Weighted- Average Exercise Price      
Shares subject to options outstanding, weighted-average exercise price (in dollars per share) $ 6.70 $ 5.72  
Options granted (in dollars per share) 0    
Options exercised (in dollars per share) 4.59    
Options forfeited (in dollars per share) 4.62    
Exercisable (in dollars per share) 6.75    
Vested and expected to vest (in dollars per share) $ 6.70    
Weighted- Average Remaining Contractual Term (in years)      
Options outstanding, weighted-average remaining contractual term (in years) 2 years 4 months 13 days 3 years 2 months 4 days  
Exercisable, weighted-average remaining contractual term (in years) 2 years 4 months 20 days    
Vested and expected to vest, weighted-average remaining contractual term (in years) 2 years 4 months 13 days    
Aggregate Intrinsic Value      
Options outstanding, aggregate intrinsic value $ 530 $ 732  
Options exercised, aggregate intrinsic value 441 $ 580 $ 510
Exercisable, aggregate intrinsic value 522    
Vested and expected to vest, aggregate intrinsic value $ 530    
v3.26.1
Common Stock - Restricted Stock Unit Activity (Details) - Unvested restricted stock units - USD ($)
$ / shares in Units, shares in Thousands, $ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Number of Shares    
Unvested, beginning balance (in shares) 29,535  
Granted, including replacement awards for acquisition (in shares) 9,143  
Vested (in shares) (60)  
Vested and settled (in shares) (12,446)  
Forfeited (in shares) (2,211)  
Unvested, ending balance (in shares) 23,961  
Weighted- Average Grant Date Fair Value    
Granted, including replacement awards for acquisition (in dollars per share) $ 195.33  
Vested (in dollars per share) 80.34  
Vested and settled (in dollars per share) 99.98  
Forfeited (in dollars per share) $ 114.55  
Aggregate Intrinsic Value    
Aggregate intrinsic value $ 5,427 $ 4,955
v3.26.1
Common Stock - Stock-based Compensation Expense (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]      
Total stock-based compensation expense $ 1,051 $ 1,099 $ 1,088
Cost of revenue, exclusive of depreciation and amortization      
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]      
Total stock-based compensation expense 154 151 139
Sales and marketing      
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]      
Total stock-based compensation expense 107 117 119
Research and development      
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]      
Total stock-based compensation expense 527 505 466
General and administrative      
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]      
Total stock-based compensation expense $ 263 $ 326 $ 364
v3.26.1
Income Taxes - Components of Consolidated Income (Loss) before Taxes (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Tax Disclosure [Abstract]      
United States $ 1,637 $ 925 $ 259
Foreign (698) (769) (793)
Income (loss) before income taxes $ 939 $ 156 $ (534)
v3.26.1
Income Taxes - The Components Provision for Income Taxes (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Current      
Total $ 44 $ 38 $ 32
Deferred      
Total (37) 1 (1)
Total provision for income taxes 7 39 31
Federal      
Current      
Total (1) 5 6
Deferred      
Total (12) 1 1
State      
Current      
Total 9 6 9
Deferred      
Total (11) 0 0
Foreign      
Current      
Total 36 27 17
Deferred      
Total $ (14) $ 0 $ (2)
v3.26.1
Income Taxes - Schedule of Effective Income Tax Reconciliation (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Amount      
Provision for income taxes at U.S. federal statutory rate $ 197 $ 33 $ (112)
State and local income taxes, net of federal income tax effect (15) 5 7
Stock-based compensation   (174) (59)
Change in valuation allowance   292 47
Other adjustments   (1) 2
Effect of cross-border tax laws      
U.S. taxation of foreign branches (183)    
Tax credits      
Research and development credits (135) (106) (44)
Nontaxable or nondeductible items      
Transaction costs 16    
Other 8    
Changes in unrecognized tax benefits 69    
Total provision for income taxes $ 7 $ 39 $ 31
Percent      
Provision for income taxes at U.S. federal statutory rate 21.00%    
State and local income taxes, net of federal income tax effect (2.00%)    
Effect of cross-border tax laws      
U.S. taxation of foreign branches (20.00%)    
Tax credits      
Research and development tax credits (14.00%)    
Nontaxable or nondeductible items      
Transaction costs 2.00%    
Other 1.00%    
Changes in unrecognized tax benefits (in percentage) 7.00%    
Provision for (benefit from) income taxes (in percentage) 1.00%    
Finland      
Amount      
Stock-based compensation $ (30)    
Change in valuation allowance 166    
Other adjustments $ (3)    
Percent      
Stock-based compensation (3.00%)    
Changes in valuation allowance 18.00%    
Other adjustments 0.00%    
Other countries      
Amount      
Foreign tax effects $ 22    
Percent      
Foreign tax effects 2.00%    
United States      
Amount      
Stock-based compensation $ (207)    
Change in valuation allowance 100    
Other adjustments $ 2    
Percent      
Stock-based compensation (22.00%)    
Changes in valuation allowance 11.00%    
Other adjustments 0.00%    
v3.26.1
Income Taxes - Reconciliation of Federal Income Tax Rate (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Tax Disclosure [Abstract]      
Income taxes computed at the federal statutory rate $ 197 $ 33 $ (112)
State taxes, net of federal benefits (15) 5 7
Tax impact of foreign earnings and losses   (23) 181
Change in valuation allowance   292 47
Stock-based compensation   (174) (59)
Research and development credits (135) (106) (44)
Non-deductible expenses   13 9
Other   (1) 2
Provision for income taxes $ 7 $ 39 $ 31
v3.26.1
Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Deferred tax assets    
Loss carryovers $ 1,839 $ 808
Tax credits 539 376
Capitalized research and development 589 886
Stock-based compensation 65 54
Lease liabilities 157 149
Accruals and reserves 455 360
Other 265 112
Total gross deferred tax assets 3,908 2,745
Less: Valuation allowance (3,197) (2,352)
Total deferred tax assets net of valuation allowance 711 393
Deferred tax liabilities    
Property and equipment and intangible assets (661) (224)
Lease assets (120) (111)
Prepaid expenses and other assets (71) (62)
Total gross deferred tax liabilities (852) (397)
Net deferred tax liabilities $ (141) $ (4)
v3.26.1
Income Taxes - Narrative (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Operating Loss Carryforwards [Line Items]      
Increase in valuation allowance $ 845 $ 494 $ 203
Portion of valuation allowance credited directly to contributed capital 170    
Federal net operating loss carryforward 3,100    
State net operating loss carryforward 1,600    
Loss carryovers 1,839 $ 808  
California | Research and Development Tax Credit Carryforward      
Operating Loss Carryforwards [Line Items]      
Tax credit carryforwards 279    
State      
Operating Loss Carryforwards [Line Items]      
State net operating loss carryforward 1,600    
Federal net operating loss carryforward not subject to expiration 225    
Foreign      
Operating Loss Carryforwards [Line Items]      
Loss carryovers 4,500    
Federal | Research and Development Tax Credit Carryforward      
Operating Loss Carryforwards [Line Items]      
Tax credit carryforwards $ 558    
v3.26.1
Income Taxes - Unrecognized Tax Benefits (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Unrecognized Tax Benefits [Roll Forward]      
Unrecognized tax benefits at beginning of year $ 275 $ 183 $ 69
Increases related to current year tax positions 66 64 47
Increases related to prior year tax positions 9 28 67
Decreases related to prior year tax positions 0 0 0
Unrecognized tax benefits at end of year 350 $ 275 $ 183
Unrecognized tax benefits that, if recognized, would result in adjustments to the valuation allowance $ 350    
v3.26.1
Net Income (Loss) per Share Attributable to DoorDash, Inc. Common Stockholders (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Numerator      
Net income (loss) including redeemable non-controlling interests $ 932 $ 117 $ (565)
Less: net loss attributable to redeemable non-controlling interests (3) (6) (7)
Net income (loss) attributable to DoorDash, Inc. common stockholders $ 935 $ 123 $ (558)
Denominator      
Weighted-average number of shares outstanding used to compute net income (loss) per share attributable to DoorDash, Inc. common stockholders, basic (in shares) 427,043 411,551 392,948
Basic net income (loss) per share attributable to DoorDash, Inc. common stockholders (in shares) $ 2.19 $ 0.30 $ (1.42)
Weighted-average number of shares outstanding used to compute diluted net income (loss) per share attributable to DoorDash, Inc. common stockholders (in shares) 439,686 430,242 392,948
Diluted net income (loss) per share attributable to DoorDash, Inc. common stockholders, diluted (in $ per share) $ 2.13 $ 0.29 $ (1.42)
Class A      
Numerator      
Net income (loss) including redeemable non-controlling interests $ 878 $ 109 $ (525)
Less: net loss attributable to redeemable non-controlling interests (3) (6) (7)
Net income (loss) attributable to DoorDash, Inc. common stockholders $ 881 $ 115 $ (518)
Denominator      
Weighted-average number of shares outstanding used to compute net income (loss) per share attributable to DoorDash, Inc. common stockholders, basic (in shares) 402,075 384,692 365,340
Basic net income (loss) per share attributable to DoorDash, Inc. common stockholders (in shares) $ 2.19 $ 0.30 $ (1.42)
Weighted-average effect of potentially dilutive securities (in shares) 12,643 18,691 0
Weighted-average number of shares outstanding used to compute diluted net income (loss) per share attributable to DoorDash, Inc. common stockholders (in shares) 414,718 403,383 365,340
Diluted net income (loss) per share attributable to DoorDash, Inc. common stockholders, diluted (in $ per share) $ 2.13 $ 0.29 $ (1.42)
Class B      
Numerator      
Net income (loss) including redeemable non-controlling interests $ 54 $ 8 $ (40)
Less: net loss attributable to redeemable non-controlling interests 0 0 0
Net income (loss) attributable to DoorDash, Inc. common stockholders $ 54 $ 8 $ (40)
Denominator      
Weighted-average number of shares outstanding used to compute net income (loss) per share attributable to DoorDash, Inc. common stockholders, basic (in shares) 24,968 26,859 27,608
Basic net income (loss) per share attributable to DoorDash, Inc. common stockholders (in shares) $ 2.19 $ 0.30 $ (1.42)
Weighted-average effect of potentially dilutive securities (in shares) 0 0 0
Weighted-average number of shares outstanding used to compute diluted net income (loss) per share attributable to DoorDash, Inc. common stockholders (in shares) 24,968 26,859 27,608
Diluted net income (loss) per share attributable to DoorDash, Inc. common stockholders, diluted (in $ per share) $ 2.13 $ 0.29 $ (1.42)
v3.26.1
Net Income (Loss) per Share Attributable to DoorDash, Inc. Common Stockholders - Antidilutive Securities (Details) - shares
shares in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]      
Potential dilutive securities (shares) 21,399 10,873 47,166
Stock options to purchase common stock      
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]      
Potential dilutive securities (shares) 0 0 9,022
Unvested restricted stock and restricted stock units      
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]      
Potential dilutive securities (shares) 10,179 10,801 38,072
Escrow shares      
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]      
Potential dilutive securities (shares) 72 72 72
Convertible notes      
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]      
Potential dilutive securities (shares) 5,574 0 0
Warrants related to the issuance of convertible notes      
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]      
Potential dilutive securities (shares) 5,574 0 0
v3.26.1
Employee Benefit Plans (Details)
 12 Months Ended
Dec. 31, 2025
Retirement Benefits [Abstract]  
Disability pension liability for employees, salary term prior to fiscal year 2 years
v3.26.1
Variable Interest Entities (Details)
$ in Millions, $ in Millions
 12 Months Ended
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Aug. 01, 2025
USD ($)
Aug. 01, 2025
CAD ($)
Dec. 31, 2024
CAD ($)
Dec. 31, 2022
USD ($)
Jul. 01, 2022
USD ($)
Jul. 01, 2022
CAD ($)
Entity Information [Line Items]                  
Payments for contribution to other commitment   $ 13   $ 18 $ 25 $ 18   $ 32 $ 41
Assets $ 19,659 12,845              
Liabilities 9,613 5,035              
Redeemable non-controlling interests 13 7 $ 7       $ 14    
Net loss attributable to redeemable non-controlling interests 3 6 $ 7            
Variable Interest Entity, Primary Beneficiary                  
Entity Information [Line Items]                  
Assets 57 32              
Liabilities $ 7 $ 8              
v3.26.1
Derivative (Details) - USD ($)
$ in Millions
Oct. 08, 2025
May 06, 2025
Derivative [Line Items]    
Realized loss $ 24  
Derivative, Loss, Statement of Income or Comprehensive Income [Extensible Enumeration] Other income (expense), net  
Foreign Exchange Forward    
Derivative [Line Items]    
Notional amount   $ 2,800
v3.26.1
Segment Reporting - Narrative (Details)
 12 Months Ended
Dec. 31, 2025
segment
Segment Reporting [Abstract]  
Number of reportable segments 1
v3.26.1
Segment Reporting - Schedule of the Significant Segment Expense (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Segment Reporting Information [Line Items]      
Revenue $ 13,717 $ 10,722 $ 8,635
Less:      
Depreciation and amortization 747 561 509
Total stock-based compensation expense 1,051 1,099 1,088
Total costs and expenses 12,994 10,760 9,214
Income (loss) from operations 723 (38) (579)
Interest income, net 211 199 152
Other income (expense), net 5 (5) (107)
Income (loss) before income taxes 939 156 (534)
Provision for income taxes 7 39 31
Net income (loss) including redeemable non-controlling interests 932 117 (565)
Net loss attributable to redeemable non-controlling interests (3) (6) (7)
Net income (loss) attributable to DoorDash, Inc. common stockholders 935 123 (558)
Reportable Segment      
Segment Reporting Information [Line Items]      
Revenue 13,717 10,722 8,635
Less:      
Depreciation and amortization 747 561 509
Total stock-based compensation expense 1,051 1,099 1,088
Cost of revenue 6,584 5,391 4,450
Sales and marketing 2,369 1,920 1,757
Research and development 904 663 537
General and administrative 1,337 1,126 871
Restructuring charges 2 0 2
Total costs and expenses 12,994 10,760 9,214
Income (loss) from operations 723 (38) (579)
Interest income, net 211 199 152
Other income (expense), net 5 (5) (107)
Income (loss) before income taxes 939 156 (534)
Provision for income taxes 7 39 31
Net income (loss) including redeemable non-controlling interests 932 117 (565)
Net loss attributable to redeemable non-controlling interests (3) (6) (7)
Net income (loss) attributable to DoorDash, Inc. common stockholders $ 935 $ 123 $ (558)