TLDR
- DoorDash Q4 EPS of 48 cents missed the 59-cent estimate; revenue of $3.96B fell short of $3.99B
- Revenue grew 38% year over year; gross order value rose 39% to $29.7B, beating estimates
- Q1 GOV guidance of $31B–$31.8B topped the $30.8B Wall Street forecast
- CEO Tony Xu is merging DoorDash, Deliveroo, and Wolt into one platform — a costly but deliberate move
- Stock fell 10% after earnings dropped, then reversed to gain 14% in extended trading
DoorDash reported Q4 adjusted earnings of 48 cents per share on revenue of $3.96 billion Wednesday, missing Wall Street estimates of 59 cents and $3.99 billion respectively.
Results:
EPS: $0.48
Revenue: $3.96B
Net Income: $213M
Marketplace GOV reached $29.683B with 903M total orders, driving strong revenue growth and $780M in Adjusted EBITDA. pic.twitter.com/4Sg8y9KLBO
— EarningsTime (@Earnings_Time) February 18, 2026
The market reacted fast. Shares fell 10% immediately after the report, then reversed sharply to climb 14% in extended trading. During the regular session, DASH had already gained 6.8%.
Despite the headline miss, the underlying numbers showed growth. Revenue jumped 38% from $2.87 billion a year ago, total orders rose 32% to 903 million, and net income climbed to $213 million from $141 million in Q4 2024.
Gross order value hit $29.7 billion, up 39% year over year and ahead of the $29.2 billion estimate.
Guidance: Mixed Picture
Q1 GOV guidance of $31B–$31.8B came in above the $30.8B analyst estimate, offering some confidence.
The soft spot was adjusted EBITDA guidance of $675M–$775M, which missed the StreetAccount estimate of $802M.
DASH has fallen more than 20% in 2026 and is down roughly 28% since its November earnings report, when the company first flagged plans to spend “several hundred million dollars” on its global tech platform. That announcement triggered DoorDash’s worst single-day drop ever.
One Platform to Rule Them All
CEO Tony Xu addressed spending directly in his shareholder letter. DoorDash is building a single unified platform combining DoorDash, Deliveroo, and Wolt — three separate systems currently running independently.
“This is a massive and expensive undertaking,” Xu wrote, “and honestly one you shouldn’t do if you thought your best days were behind you.”
He also said DoorDash chose a more expensive path to keep its codebase AI-ready, noting the cheaper route “could lead to disastrous results for customers.”
Xu flagged Deliveroo as an early win, saying the acquired platform is growing faster at the same profit margin.
Competition from Instacart, Uber Eats, and Amazon’s same-day grocery delivery remains a pressure point analysts are watching.
Of 50 analysts tracked by FactSet, 38 rate DASH a Buy, 12 a Hold, and none a Sell.
The post DoorDash (DASH) Stock: Q4 Earnings Miss Triggers Wild After-Hours Swing appeared first on Blockonomi.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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