DoorDash's business continues to boom two years into the pandemic
CNN
DoorDash, which went public amid a pandemic-fueled delivery craze in late 2020, said its business continues to boom even as people increasingly return to their lives outside the home.
The on-demand delivery company said its order volume grew 23% to 404 million in the first three months of this year compared to the same period in 2021. Its revenue for the quarter jumped 35% from last year to $1.5 billion, beating the estimated $1.38 billion forecast from analysts surveyed by Refinitiv.
In a letter to shareholders accompanying its financials, DoorDash said it attracted more new customers in the most recent quarter than any other quarter in the past year. It also said that customers are ordering from its app more often, which it attributes in part to adoption of its subscription membership program, DashPass. The company reported 25 million monthly active users and 10 million DashPass members last quarter. It did not share updated metrics this quarter but said monthly active users and DashPass membership were at record highs.