DoorDash Inc - Ordinary Shares - Class A

Strong Q4 Performance: DoorDash reported robust growth in Q4 2024 with active users reaching over 42 million, demonstrating double-digit growth year-over-year. The company highlighted that U.S. restaurant sales increased in a double-digit range, while international and new verticals grew at even faster rates, indicating solid customer retention and growing frequency of orders.

Penetration and Frequency Opportunities: The management emphasized both penetration and frequency as key growth areas. With only 7% market penetration in the U.S. restaurant segment and significant room for improvement in groceries and retail categories, the opportunity for DoorDash to increase user engagement and order frequency remains vast.

Forecasts for 2025-2026: DoorDash aims for strong profitability by continuing to invest in product improvements and geographic expansion, especially focusing on new verticals and improving the logistics infrastructure. The company is bullish about the long-term potential of its advertising business and enhancing DashPass subscriptions.