DASH22Q4财报跟踪，财报略优，盘后上涨

22Q4

Q4有创纪录的4.67亿份订单，同比增长27%；其订单总额增至144亿美元，同比增长29%。In Q4, we grew Marketplace GOV by 29% Y/Y to $14.4 billion.Total Orders increased 27% Y/Y to 467 million from 369 million in Q4 2021.

月活跃用户数3200万，去年同期2500万，同比增长28%；DashPass会员总数达到1500万，去年同期1000万，同比增50%。Monthly Active Users (MAUs)1 in December increased to over 32 million from over 25 million a year ago。DashPass订阅者约占DoorDash1月份食品总销售额的65％。

营收18亿，同比增长40%。Revenue increased 40% Y/Y to $1.8 billion from $1.3 billion in Q4 2021.

Net Revenue Margin, defined as revenue as a percentage of Marketplace GOV, increased to 12.6% in Q4 2022 from 11.6% in Q4 2021.

毛利7.62亿，增长20%；毛利率5.3%，降0.4个百分点。GAAP gross profit increased 20% to $762 million from $637 million in Q4 2021. GAAP gross profit as a percentage of Marketplace GOV decreased to 5.3% in Q4 2022 from 5.7% in Q4 2021.

Adjusted EBITDA was $117 million compared to $47 million for Q4 2021.

Operating cash flow in Q4 2022 was $23 million and Free Cash Flow was $(73) million. In 2022, we generated operating cash flow of $367 million and Free Cash Flow of $21 million.

#Q4财务数据好于预期，但是好得非常有限，尤其是毛利率方面

#Q4净利率提升，高速增长同时，现金流率24%保持稳定

2022FY

DoorDash报告全年净亏损13.7亿美元，合每股亏损3.68美元，收入为65.8亿美元。分析师此前预计，全年亏损9.89亿美元，合每股亏损2.65美元，收入为65.5亿美元。

其他重要数据

预计第一季度和2023年将对新的类别和国际市场进行大量持续投资。

DoorDash 董事会授权回购高达 7.5 亿美元的 A 类普通股 。

#资本支出目前不会停，会延迟盈利能力提升

业绩指引

We currently expect Q1 Marketplace GOV to be in a range of $15.1 billion to $15.5 billion, with Q1 Adjusted EBITDA expected to be in a range of $120 million to $170 million. We currently expect 2023 Marketplace GOV to be in a range of $60.0 billion to $63.0 billion, with Adjusted EBITDA expected to be in a range of $500 million to $800 million.

#23Q1GOV同比增长25%，环比4.8%，增速还不错23Q1经调整EBITDA范围过宽，上限1.7亿的话还不错，2023全年指引则过低，

S：

用户数据和订单数据都不错，增长明显。但是经营数据层面并没有跟上。

作为投资者，并不想看到2023年全年的经调整EBITDA也仅仅上限8亿。而是一个季度好过一个季度。有可能公司藏拙，也有可能公司有更大的扩张计划。

否则2023年的预期应该是10亿以上。

DASH的Q4财报好得有限，2023业绩指引更是有限。

最近跟踪：夜报|DASH21Q4财报跟踪，美最大的外卖平台，触底反弹28%

这家公司IPO始开始跟踪，关键词直达：

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美股大观渠道专属

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