Earnings Results: DoorDash stock soars nearly 30% on record-high user numbers, Q4 orders

DoorDash shares
DASH,
-6.80%
soared nearly 20% after hours, after falling nearly 7% in the regular session to close at $94.88. 

Fourth-quarter gross-order value increased to $11.16 billion, exceeding analysts’ expectation of $10.64 billion, on 369 million orders, more than the 361 million orders analysts expected.

Though the delivery-app company handily beat analysts’ revenue forecasts, it posted bigger losses than analysts had expected for both the fourth quarter and the full year.

DoorDash revenue rose to $1.3 billion from $970 million in the year-ago quarter. The company reported a narrower fourth-quarter loss of $155 million, or 45 cents a share, compared with its net loss of $312 million, or $2.67 a share, in the year-ago period.

Analysts surveyed by FactSet had forecast a loss of $92 million, and an adjusted loss of 23 cents a share, on revenue of $1.28 billion.

For the full year, the company reported a net loss of $468 million, or $1.39 a share, on revenue of $4.9 billion. That compares with a loss of $461 million, or $7.39 a share, in the previous year. Analysts had expected a loss of $405 million, and an adjusted loss of $1.18 a share, on $4.78 billion in revenue.

DoorDash expects first-quarter gross-order value to range from $11.4 billion to $11.8 billion, and adjusted Ebitda of “$0 million to $50 million.” For 2022, the company expects gross-order value of $48 billion to $50 billion and adjusted Ebitda of between “$0 million and $500 million.”

Analysts expect first-quarter gross-order value of $11.41 billion and Ebitda of $104 million, and full-year gross-order value of $49.5 billion and Ebitda of $428 million.

Shares of DoorDash are down about 36% so far this year, while the S&P 500 Index
SPX,
+0.09%
has declined almost 7% year to date.