(New York) The American meal delivery platform DoorDash published higher-than-expected sales on Wednesday and said it anticipated strong growth in orders in 2022, despite the end of the pandemic, which sent the stock off the ground.
Posted at 7:08 p.m.
The stock gained 27.52% in post-close electronic trading on Wall Street.
DoorDash reported a 34% increase in year-over-year revenue to $1.3 billion. However, growth slowed significantly and the group settled for 1.9% growth between the third and fourth quarters.
A modest player in the delivery of meals in the United States in 2019, DoorDash took advantage of the pandemic to gain more than half of the market, outdoing Uber Eats (subsidiary of Uber) and Grubhub (subsidiary of Just Eat). Takeway), the two heavyweights in the sector so far.
During the earnings conference call, CFO Prabir Adarkar said DoorDash has gained further market share.
“We continue to be the primary acquirer of customers entering this market for the first time,” added CEO Tony Xu.
As with many companies that have benefited from lockdowns and health restrictions, the market is wondering about their propensity to stay growing despite emerging from the pandemic.
In 2021, DoorDash, which has more than 25 million monthly active users, recorded $42 billion in orders and expects a range of between 48 and 50 billion for 2022.
The platform relies on the development of categories related to meals, namely mainly consumer products, food and others, as well as alcoholic beverages.
DoorDash said 14% of the service’s monthly active users ordered non-meal items in December.
The start-up remains loss-making and ended the fourth quarter with a net loss of 155 million dollars, nevertheless lower than analysts’ forecasts.
None of the major meal delivery platforms is, to date, profitable, even if Uber Eats comes close. Their titles have been suffering on the stock market for several months, many investors wondering about their ability to generate profits.