DoorDash Inc (NYSE:DASH) stock fell 5.86% (As on February 19, 11:59:28 AM UTC-4, Source: Google Finance) after the company said that it would buy back $750 million worth of stock and projected a key profit measure above Wall Street estimates, following strong fourth-quarter growth thanks to a surge in orders for food, groceries, and petcare items. The company is gaining market share in the United States, “driven by increasing scale in non-restaurant categories”. However, net loss widened to $642 million, or $1.65 per share, from $155 million, or 45 cents a year earlier, due to costs related to stock-based compensation and staff cuts announced earlier in November. In 2022, the company generated over $38 billion in sales for local merchants and over $13 billion in earnings for Dashers, while growing Marketplace GOV by 27% year-overyear (Y/Y) to $53.4 billion. In Q4, the company grew Marketplace GOV by 29% Y/Y to $14.4 billion. Monthly Active Users (MAUs)1 in December increased to over 32 million from over 25 million a year ago, with Y/Y growth in both DoorDash and Wolt MAUs. DashPass and Wolt+ members at year-end increased to over 15 million2 from over 10 million a year ago. In 2022, the company generated $361 million of Adjusted EBITDA, $367 million of net cash provided by operating activities, and $21 million of Free Cash Flow. In comparison, in 2021, the company generated $289 million of Adjusted EBITDA, $692 million of net cash provided by operating activities, and $455 million of Free Cash Flow.

The company named Ravi Inukonda as its new chief financial officer, effective March 1. Current finance chief Prabir Adarkar will take over as chief operating officer from Christopher Payne, who is retiring.

DASH in the fourth quarter of FY 22 has reported the adjusted loss per share of $1.65, missing the analysts’ estimates for the adjusted loss per share of 67 cents. The company had reported the adjusted revenue growth of 40 percent to $1.82 billion in the fourth quarter of FY 22, beating the analysts’ estimates for revenue of $1.77 billion, according to Refinitiv.

The company currently expects Q1 Marketplace gross order value (GOV) to be in a range of $15.1B to $15.5B, with Q1 Adjusted EBITDA expected to be in a range of $120M to $170M. Currently expect 2023 Marketplace GOV to be in a range of $60.0B to $63.0B, with Adjusted EBITDA expected to be in a range of $500M to $800M.