DOORDASH, INC. (DASH) FY2025 Annual Statement of Cash Flows

Income StatementCash FlowBalance Sheet

Statement of Cash Flows

2025-01-01 to 2025-12-31

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DOORDASH, INC. cash flow reconciliation, Jan 1, 2025 through Dec 31, 2025One connected Sankey reconciles operating, investing and financing net cash flows through a shared cash pool, from beginning cash to ending cash. Ribbons flow left to right on one dollar scale. Activity totals are dark gray; beginning and ending cash are blue. Cash basis for beginning and ending balances and net cash change: Cash, cash equivalents, and restricted cash. Intermediate calculation bars are lighter gray. Net income is green for profit and red for loss. Identified asset purchases, sales and maturities are blue in either cash direction. Purple identifies capital transactions such as borrowing, repayments, share issuance and dividends. Free cash flow is a separate comparison, not an added cash flow. Read chart description and values below for full signed amounts, including zero items.Net income (loss) including redeemable non-controlling interests → Net cash from operating activities: $932,000,000.00Stock-based compensation → Operating adjustments reconciliation: $1,051,000,000.00Depreciation and amortization → Operating adjustments reconciliation: $747,000,000.00Accrued expenses and other current liabilities → Operating adjustments reconciliation: $577,000,000.00Reduction of operating lease right-of-use assets and accretion of operating lease liabilities → Operating adjustments reconciliation: $118,000,000.00Amortization of deferred contract costs → Operating adjustments reconciliation: $77,000,000.00Accounts payable → Operating adjustments reconciliation: $54,000,000.00Other → Operating adjustments reconciliation: $37,000,000.00Office lease impairment expenses → Operating adjustments reconciliation: $11,000,000.00Operating adjustments reconciliation → Net cash from operating activities: $1,499,000,000.00Operating adjustments reconciliation → Accounts receivable, net: $359,000,000.00Operating adjustments reconciliation → Prepaid expenses and other current assets: $247,000,000.00Operating adjustments reconciliation → Other assets: $240,000,000.00Operating adjustments reconciliation → Payments for operating lease liabilities: $125,000,000.00Operating adjustments reconciliation → Funds held at payment processors: $113,000,000.00Operating adjustments reconciliation → Other liabilities: $72,000,000.00Operating adjustments reconciliation → Adjustments to non-marketable equity securities, including impairment, net: $17,000,000.00Proceeds from issuance of convertible notes, net of issuance costs → financing reconciliation: $2,720,000,000.00Proceeds from issuance of warrants → financing reconciliation: $341,000,000.00Proceeds from exercise of stock options → financing reconciliation: $9,000,000.00financing reconciliation → Net cash from financing activities: $2,360,000,000.00financing reconciliation → Purchase of convertible note hedges: $680,000,000.00financing reconciliation → Payments of acquisition-related deferred cash consideration: $20,000,000.00financing reconciliation → Other financing activities: $10,000,000.00Net cash used in investing activities → investing reconciliation: $4,391,000,000.00Maturities of investments → investing reconciliation: $1,379,000,000.00Sales of investments → investing reconciliation: $433,000,000.00investing reconciliation → Acquisitions, net of cash acquired: $4,151,000,000.00investing reconciliation → Purchases of investments: $1,376,000,000.00investing reconciliation → Capitalized software and website development costs: $348,000,000.00investing reconciliation → Purchases of property and equipment: $257,000,000.00investing reconciliation → Purchases of non-marketable investments: $47,000,000.00investing reconciliation → Settlement of deal-contingent forward contract: $24,000,000.00Exchange-rate effect → Cash sources and uses: $60,000,000.00Beginning cash: Cash, cash equivalents, and restricted cash → Cash sources and uses: $4,221,000,000.00Net cash from operating activities → Cash sources and uses: $2,431,000,000.00Net cash from financing activities → Cash sources and uses: $2,360,000,000.00Cash sources and uses → Ending cash: Cash, cash equivalents, and restricted cash: $4,681,000,000.00Cash sources and uses → Net cash used in investing activities: $4,391,000,000.00Net income (loss) including redeemable non-controlling interests: $932,000,000.00Net income (loss) including redeemablenon-controlling interests+$932.00 MDepreciation and amortization: $747,000,000.00Depreciation & amortization+$747.00 MStock-based compensation: $1,051,000,000.00Stock-based compensation+$1.05 BReduction of operating lease right-of-use assets and accretion of operating lease liabilities: $118,000,000.00Lease asset reduction, accretion+$118.00 MAmortization of deferred contract costs: $77,000,000.00Contract cost amortization+$77.00 MOffice lease impairment expenses: $11,000,000.00Lease asset impairment+$11.00 MAdjustments to non-marketable equity securities, including impairment, net: -$17,000,000.00Adjustments to non-marketable equity securities,including impairment, net−$17.00 MOther: $37,000,000.00Other operating, net+$37.00 MFunds held at payment processors: -$113,000,000.00Funds held at payment processors−$113.00 MAccounts receivable, net: -$359,000,000.00Accounts receivable−$359.00 MPrepaid expenses and other current assets: -$247,000,000.00Prepaid & other current assets−$247.00 MOther assets: -$240,000,000.00Other noncurrent assets−$240.00 MAccounts payable: $54,000,000.00Accounts payable+$54.00 MAccrued expenses and other current liabilities: $577,000,000.00Accrued liabilities+$577.00 MPayments for operating lease liabilities: -$125,000,000.00Operating lease payments−$125.00 MOther liabilities: -$72,000,000.00Other noncurrent liabilities−$72.00 MNet cash from operating activities: $2,431,000,000.00Operating cash+$2.43 BOperating adjustments reconciliation: $2,672,000,000.00Proceeds from issuance of convertible notes, net of issuance costs: $2,720,000,000.00Debt issued+$2.72 BProceeds from issuance of warrants: $341,000,000.00Warrants issued+$341.00 MPurchase of convertible note hedges: -$680,000,000.00Convertible hedge purchases−$680.00 MProceeds from exercise of stock options: $9,000,000.00Stock option exercises+$9.00 MRepurchase of common stock: $0.00Payments of acquisition-related deferred cash consideration: -$20,000,000.00Contingent consideration paid−$20.00 MOther financing activities: -$10,000,000.00Other financing, net−$10.00 MNet cash from financing activities: $2,360,000,000.00Financing cash+$2.36 Bfinancing reconciliation: $3,070,000,000.00Purchases of property and equipment: -$257,000,000.00PP&E purchases−$257.00 MCapitalized software and website development costs: -$348,000,000.00Software development costs−$348.00 MPurchases of investments: -$1,376,000,000.00AFS securities purchases−$1.38 BMaturities of investments: $1,379,000,000.00AFS securities maturities+$1.38 BSales of investments: $433,000,000.00AFS securities sales+$433.00 MPurchases of non-marketable investments: -$47,000,000.00Non-marketable purchases−$47.00 MAcquisitions, net of cash acquired: -$4,151,000,000.00Acquisitions, net of cash−$4.15 BSettlement of deal-contingent forward contract: -$24,000,000.00Investing derivative payments−$24.00 MOther investing activities: $0.00Net cash used in investing activities: -$4,391,000,000.00. Cash required to fund net payments.Investing cash−$4.39 Binvesting reconciliation: $6,203,000,000.00Cash sources and uses: $9,072,000,000.00Beginning cash: Cash, cash equivalents, and restricted cash: $4,221,000,000.00Beginning cash$4.22 BEnding cash: Cash, cash equivalents, and restricted cash: $4,681,000,000.00Ending cash$4.68 BExchange-rate effect: $60,000,000.00FX effect+$60.00 MCASH RECONCILIATIONOperatingflowsFinancingflowsInvestingflowsFree cash flow$2.17 BOperating cash − cash spent on PP&ECash flow / Net income2.61×Operating cash flow ÷ net incomeNet cash change+$460.00 MEnding cash − beginning cash
Chart details

DOORDASH, INC. cash flow reconciliation, Jan 1, 2025 through Dec 31, 2025

Cash flows for Jan 1, 2025 through Dec 31, 2025. Cash basis: Cash, cash equivalents, and restricted cash. Beginning cash: Dec 31, 2024. Ending cash: Dec 31, 2025. Beginning and ending cash are dated balances. Positive cash flows add cash; negative cash flows reduce it.

Beginning cash on Dec 31, 2024
4,221,000,000 US dollars. Beginning cash: Cash, cash equivalents, and restricted cash
Operating activities
2,431,000,000 US dollars. Net cash provided.
Net income (loss) including redeemable non-controlling interests
932,000,000 US dollars
Depreciation and amortization
747,000,000 US dollars
Stock-based compensation
1,051,000,000 US dollars
Reduction of operating lease right-of-use assets and accretion of operating lease liabilities
118,000,000 US dollars
Amortization of deferred contract costs
77,000,000 US dollars
Office lease impairment expenses
11,000,000 US dollars
Adjustments to non-marketable equity securities, including impairment, net
negative 17,000,000 US dollars
Other
37,000,000 US dollars
Funds held at payment processors
negative 113,000,000 US dollars
Accounts receivable, net
negative 359,000,000 US dollars
Prepaid expenses and other current assets
negative 247,000,000 US dollars
Other assets
negative 240,000,000 US dollars
Accounts payable
54,000,000 US dollars
Accrued expenses and other current liabilities
577,000,000 US dollars
Payments for operating lease liabilities
negative 125,000,000 US dollars
Other liabilities
negative 72,000,000 US dollars
Investing activities
negative 4,391,000,000 US dollars. Net cash used.
Purchases of property and equipment
negative 257,000,000 US dollars
Capitalized software and website development costs
negative 348,000,000 US dollars
Purchases of investments
negative 1,376,000,000 US dollars
Maturities of investments
1,379,000,000 US dollars
Sales of investments
433,000,000 US dollars
Purchases of non-marketable investments
negative 47,000,000 US dollars
Acquisitions, net of cash acquired
negative 4,151,000,000 US dollars
Settlement of deal-contingent forward contract
negative 24,000,000 US dollars
Other investing activities
0 US dollars
Financing activities
2,360,000,000 US dollars. Net cash provided.
Proceeds from issuance of convertible notes, net of issuance costs
2,720,000,000 US dollars
Proceeds from issuance of warrants
341,000,000 US dollars
Purchase of convertible note hedges
negative 680,000,000 US dollars
Proceeds from exercise of stock options
9,000,000 US dollars
Repurchase of common stock
0 US dollars
Payments of acquisition-related deferred cash consideration
negative 20,000,000 US dollars
Other financing activities
negative 10,000,000 US dollars
Operating adjustment reconciliation
2,672,000,000 US dollars. Intermediate calculation joining the operating reconciliation branches. Its gross amount includes any portion of net income routed through this junction. It is not an additional cash source or use.
financing gross reconciliation
3,070,000,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
investing gross reconciliation
6,203,000,000 US dollars. Gross amount at the activity's junction before offsetting its receipts and deductions. It is not an additional cash source or use.
Exchange-rate effect
60,000,000 US dollars
Ending cash on Dec 31, 2025
4,681,000,000 US dollars. Ending cash: Cash, cash equivalents, and restricted cash
Cash sources and uses
9,072,000,000 US dollars. Opening cash plus net sources, equal to net uses plus ending cash.
Net cash change
460,000,000 US dollars. Ending cash minus beginning cash.
Cash flow / Net income
2.61×. Operating cash flow divided by reconciliation net income for the same period. Black from 0.90× through 1.10×; green above 1.10×; red below 0.90×. Color uses the unrounded ratio.
Operating cash flow
2,431,000,000 US dollars. Operating cash flow used in the free cash flow calculation.
Cash purchases of property, plant and equipment
257,000,000 US dollars. These cash purchases are already included in investing activities above.
Free cash flow
2,174,000,000 US dollars. A supplemental measure; finance-lease payments are excluded from this definition.

Chart connections

  • Beginning cash plus operating, investing and financing cash flows plus the exchange-rate effect equals ending cash. Negative amounts reduce cash.
  • Financing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Investing contributions meet at a reconciliation junction before connecting to the net cash total.
  • Operating reconciliation adjustments are not all independent cash receipts.
  • Net income enters operating cash directly in the reconciliation. The adjustment junction contributes the remaining $1.50B after reconciling the other positive and negative adjustments. These connections depict an accounting reconciliation, not traced cash receipts.
  • Each activity has one net cash bar connected to the shared cash pool. Positive activity totals enter the pool; negative activity totals leave the pool to fund that activity's net payments. The central pool does not assign a particular funding source to a particular payment.
  • The intermediate calculation bars include both sides of the displayed activity breakdowns; they are not additional cash flows.
  • Operating cash flow minus cash purchases of property, plant and equipment equals free cash flow: 2,431,000,000 US dollars minus 257,000,000 US dollars equals 2,174,000,000 US dollars.
DOORDASH, INC. (DASH) FY2025 Annual Statement of Cash Flows Sankey chart
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