DoorDash (DASH): revenue up 36% with Deliveroo, profit down, a move to Nevada, and funds trimming
By Gabriel Zacarkim · Published Oct 11, 2026 · Data as of Oct 9, 2026 close (13F positions as of June 30, 2026)
DoorDash closed at $196.50 on October 9, 2026, worth $85 billion. The stock is down 28.7% over twelve months and 13.2% in 2026, though up 34% from its twelve-month low of $146.60 on March 27, 2026, and 6.5% since June 30.
Growth, partly bought
In the second quarter of 2026, total orders grew 27% to 970 million, marketplace gross order value 36% to $33.1 billion and revenue 36% to $4.5 billion. Part of that is Deliveroo, which DoorDash acquired: without it, orders grew 17%, order value 23% and revenue 24%. GAAP net income attributable to common stockholders fell 30% to $200 million, while adjusted EBITDA, which excludes items such as stock-based compensation, rose 40% to $914 million. For the third quarter DoorDash guided to $33.0 billion to $34.0 billion of order value and $950 million to $1.1 billion of adjusted EBITDA. It expects $1.2 billion to $1.3 billion of stock-based compensation expense in 2026.
| Period | Revenue | Net income |
|---|---|---|
| 2022 | $6.58B | −$1.37B |
| 2023 | $8.64B | −$0.56B |
| 2024 | $10.72B | $0.12B |
| 2025 | $13.72B | $0.94B |
| Q1 2026 | $4.04B | $0.18B |
| Q2 2026 | $4.45B | $0.20B |
On September 18, 2026, DoorDash changed its state of incorporation from Delaware to Nevada. The move was approved in August not at a meeting but by written consent of stockholders holding a majority of the voting power, among them chief executive Tony Xu; the company says certain rights of stockholders changed as a result, and the class A shares still trade on Nasdaq as DASH.
Who held it at the end of June
| Manager | Shares, Jun 30 | Value, Jun 30 | Change in shares vs. Mar 31 |
|---|---|---|---|
| Baillie Gifford | 6,808,714 | $1,256.4M | −6.0% |
| Daniel Sundheim (D1) | 1,303,705 | $240.6M | −9.3% |
| Renaissance Technologies | 889,475 | $164.1M | −37.6% |
| Israel Englander (Millennium) | 608,437 | $112.3M | −58.4% |
| Philippe Laffont (Coatue) | 524,792 | $96.8M | −4.9% |
| Cliff Asness (AQR) | 343,990 | $63.5M | +20.2% |
| Ken Griffin (Citadel) | 266,037 | $49.1M | −37.3% |
| George Soros (Soros) | 249,897 | $46.1M | +46.9% |
| Steve Cohen (Point72) | 156,610 | $28.9M | −86.8% |
| Chase Coleman (Tiger Global) | 25,337 | $4.7M | unchanged |
| Ray Dalio (Bridgewater) | 23,591 | $4.4M | −13.0% |
| Two Sigma | 19,292 | $3.6M | −39.6% |
Twelve of the 38 managers held DoorDash at the end of both March and June, but their combined shares fell from 14.3 million to 11.2 million, and from 31.8 million in the third quarter of 2024. Nine of the twelve cut in the quarter; Steve Cohen’s Point72 sold 87% and Israel Englander’s Millennium 58%. Only Cliff Asness’s AQR and George Soros’s fund added. Baillie Gifford, with $1.26 billion, holds more than all the others together. A 13F does not say on which day of the quarter shares were sold.
Insiders
From August to early October, insiders sold $102.3 million of stock and none bought. All of it was either under 10b5-1 trading plans ($89.3 million) or to cover taxes on vesting shares ($13.0 million). The largest seller was director Stanley Tang ($46.5 million); president Prabir Adarkar sold $18.2 million and chief executive Tony Xu $11.5 million. Daily data is on the DoorDash page. Not investment advice.
Sources
- Q2 2026 results (Aug 5, 2026)
- DoorDash 10-Q, Q2 2026
- 8-K: stockholder written consent to reincorporate (Aug 11, 2026)
- 8-K: reincorporation in Nevada (Sep 18, 2026)
For information only, not investment advice. The figures come from the filings listed above and describe what happened, not what will.