DoorDash & Uber Eats Deliver Blockbuster Q1 Results
DD pushes reservations to new markets, Amazon drones head to U.K., Inspire Brands' IPO
Amidst another bumper week for earnings news, we’ve also got some drone delivery news to keep an eye on… let’s get to it!
Today’s edition is brought to you by Urban Autonomy Summit Detroit, convening 6/9.
Today:
Post-Deliveroo Acquisition, DoorDash Doubles Down on Growth
Amazon Prime Air Delivers First International Order
Chart Time | Dunkin’s Inspiring IPO
Suburbs & Internatioanl Markets Power Uber Eats Growth
FINANCE | Amid Reservations Push, DoorDash Rev Grows 33%
DoorDash posted strong Q1 results, with total orders up 27% YoY, gross order value rising 37% and revenue jumping 33%. Its recent acquisition of Deliveroo is starting to really show some heft: the new subsidiary comprised 65% of the jump in GOV and 64% of the improvement in revenue. However, EBITDA margin dropped to 2.4% of GOV, down from 2.6% in Q1 and Q4 ‘25, as the company works to integrate Deliveroo’s systems and spent $50 million on gas rewards to help couriers affected by spiking fuel costs. Monthly active users and subscription membership growth both hit all time highs.
The Big Picture: Looking ahead, DoorDash is doubling down on its SevenRooms-powered reservation platform, moving beyond Miami, Vegas and NYC, to include Los Angeles, San Francisco and Boston. A few of the restaurants joining the platform are genuine gets, including Beethoven Market, Dan Tana’s, Pijja Palace and Spago in LA, and Trick Dog in SF. DoorDash is also leaning on its Deliveroo acquisition here, as it expands reservations to London restaurants: Dove, Dishoom, Coal Office, A.Wong, Barrafina, Din Tai Fung, Cafe Francois, Murano and Hide.
EVENTS | The Urban Autonomy Summit Heads to Detroit — June 9th
From delivery bots, to robotaxis to personally-owned AVs, the conversations around autonomous vehicles are only getting more and more critical. Our acclaimed Urban Autonomy Summit heads to Detroit on June 9th. Apply now to attend, or reach out if you’re interested in speaking or sponsoring.
DRONES | Blimey, Amazon Air Enters U.K. Market
Amazon Prime Air, the ecommerce giant’s drone delivery project, has started international operations, delivering packages in Darlington, in North East England. Using the company’s new MK30 drone, Amazon will deliver packages of up to 5 pounds within a 7.5 mile radius around its MME1 fulfillment center. Per the terms of the pilot project, the service runs as a Civil Aviation Authority trial through the end of the year, restricted to 10 flights per hour and 100 deliveries per day, on weekdays.
The Big Picture: Amazon is operating these drones beyond the visual line of sight, with remote operators monitoring by screen and coordinating with nearby Teesside Airport. Amazon’s MK30 has had some operational issues as of late, strike the ground in Texas and cranes in Arizona; it’ll be interesting to see how the company deals with safety and noise concerns in the tougher U.K. regulatory environment. Ireland-based Manna is the current market leader in Europe.
CHART TIME | Inspire Runs on Dunkin’, Towards IPO
Restaurant holding company Inspire Brands is eying an IPO, at a reported $20 billion valuation. While the group also owns icons like Sonic and Baskin Robbin’s, Dunkin’s mediocre coffee and donuts make up the plurality of its sales. The company did, however, recently pull out of the Indian market: here’s why.
FINANCE | Uber Revenue Climbs 14%
Uber also posted a big Q1, with overall revenue up 14% (10% in a constant currency basis). Delivery powered the bulk of the growth: gross bookings were up 28% to $26 billion for the quarter, revenue climbed 34% to $5.1B and segment operating income jumped 43% to $961M.
The Big Picture: Market expansions also seem to be paying off for Uber. In the U.S., suburban regions are growing twice as fast as inner-city markets. Internationally, Uber Eats unlocked seven new European markets, with a launch in Finland hitting the iOS App Store’s top position on the first day, while growth in Australia hit ~30%. Overall, grocery and retail looks to be growing faster than restaurant delivery.
A Few Good Links
Cartwheel expands ezCater integration. ZyG raises $60M for D2C intelligence. Uber Eats partners with Ulta Beauty. Vori raises $22M for grocery store software. Careful with that camera: DD driver that posted photo of naked customer indicted. Vancouver, BC gives OK to delivery bots (Canada has not been so welcoming in the past; Toronto banned PDDs.) McDonald’s revenue rises 9%. Shopify stock falls as growth slows. RBI revenue climbs 7.4%. Meta acquires Assured Robot Intelligence. NHTSA probes Avride crashes. Wendy’s profit slides. Sweetgreen same-store sales drop 12.8%, but EPS improves off Spyce sale. Bob’s Discount Furniture opens combo storefront + distro center. Oh the irony: Shein sues Temu over copyright infringement. Port of LA traffic up 5.7% MoM. Prosus sells another 5% of Delivery Hero to Aspex for $394M. (More background.) Delivery Hero celebrates 15 years. Lime files for IPO. Korean manufacturers back Config. Toast ARR grows 26%. Talabat inaugurates MENA’s largest q-commerce DC, launches 15-minute deliveries in Qatar. Papa Johns’ revenue slips 7.7%. China pushes into Europe with tariff-free vans. Swiggy losses narrow in Q1. Grab revenue climbs 24%, as delivery GMV hits $3.9 billion. How L.A. ate N.Y.C.
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