(DoorDash) A $12.4 billion Marketplace GOV, up 25% from the prior year, helped DoorDash report a record monthly active users in the first quarter of 2022.
DoorDash said the robust Marketplace GOV also helped the company earn over $8.7 billion in sales for merchants and more than $3.2 billion earnings for Dashers. The average order frequency also rose to a record high.
The company said its revenue hit $1.5 billion in the first quarter, an increase of 35% from the prior year. The revenue reflected a 23% growth in total orders.
The GAAP gross profit was $662 million, representing an increase of 34% from the prior year.
DoorDash’s net loss widened to $167 million, higher than a loss of $110 million in the prior year. Adjusted EBITDA was $54 million, up from $43 million in the prior year.
The company now expects a Marketplace GOV of between $12.1 billion and $12.5 billion in the second quarter, with $0 to $100 million adjusted EBITDA.
For FY22, DoorDash projects a Marketplace GOV of between $49 billion and $51 billion, an increase from previous forecast of $48 billion to $50 billion. FY22 EBITDA is expected at between $0 and $500 million.
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