DASH · 10-K filed 18 Feb 2026 · year to 31 Dec 2025

DoorDash

34 named things its latest annual report says its results depend on, each in the company's own words. 21 of them are also named by other companies we've read.

Read the filing on SEC.gov ↗

Suppliers

Amazon Web Services (AWS)

depends onnamed as a risk

We primarily host our platform and support our operations on data centers provided by AWS, a third-party provider of cloud infrastructure services, in a limited number of locations.Risk factors (Item 1A)

Also named by AAON, ABNB, ADSK, AIOT, BLK, CARR, CG, COF and 56 more

PayPal

depends onnamed as a risk

Under our commercial agreements with Stripe and PayPal, each of these parties may terminate our relationship with advanced notice.Risk factors (Item 1A)

Also named by AFRM, EBAY, FERG, NYT, SYF

Google Maps

depends onnamed as a risk

We also have integrations with or otherwise utilize or rely on PayPal, Stripe, Olo, Google Maps, Amazon Web Services ("AWS"), and a variety of other third-party vendors.Risk factors (Item 1A)

Also named by ABNB, UBER

Stripe

depends onnamed as a risk

We primarily rely on a third-party payment processor, Stripe, to process payments made to merchants and Dashers and third-party payment processors to process payments made by consumers, primarily Stripe and PayPal.Risk factors (Item 1A)

Olo

depends onnamed as a risk

We also have integrations with or otherwise utilize or rely on PayPal, Stripe, Olo, Google Maps, Amazon Web Services ("AWS"), and a variety of other third-party vendors.Risk factors (Item 1A)

Third-party background check provider (single provider in U.S. and Canada)

depends onnamed as a risk

In certain jurisdictions, including Canada and the United States, we currently rely on a single third-party background check provider.Risk factors (Item 1A)

Fleet companies

depends onnamed as a risk

Our operations in some markets may be heavily dependent on the services of fleet companies.Risk factors (Item 1A)

Partners and platforms

Google Search

depends onnamed as a risk

Our success depends in part on our ability to attract consumers through Internet search results on search engines like Google.Risk factors (Item 1A)

Also named by EBAY, RDDT

Google Android

depends onnamed as a risk

We depend in part on mobile operating systems, such as Android and iOS, and their respective application marketplacesRisk factors (Item 1A)

Also named by CART

Apple iOS / App Store

depends onnamed as a risk

These changes have negatively impacted the effectiveness of our advertising and promotions, and we expect these changes to continue to do so.Risk factors (Item 1A)

Other companies

2030 Notes

$2.75 billionnamed as a risk

We have a revolving credit facility that we may draw on to finance our working capital and other general corporate purposes, and have $2.75 billion in aggregate principal amount of indebtedness outstanding under our 2030 Notes.Risk factors (Item 1A)

Also named by NOW

Competitors

Amazon

competes withnamed as a risk

Globally, we compete with other local on-demand delivery companies, such as Amazon, Uber Eats, Prosus, Delivery Hero, and other local incumbents.Risk factors (Item 1A)

Also named by AES, AFRM, ALK, AOS, APP, AXP, BBW, CART and 10 more

Uber

competes withnamed as a risk

For example, in February 2025, Uber filed a lawsuit in California state court alleging that certain of our business practices are anticompetitive.Risk factors (Item 1A)

Also named by CART

Delivery Hero

competes withnamed as a risk

Globally, we compete with other local on-demand delivery companies, including Amazon, Uber Eats, Prosus, Delivery Hero, and other local incumbents.Business (Item 1)

Prosus

competes withnamed as a risk

Globally, we compete with other local on-demand delivery companies, including Amazon, Uber Eats, Prosus, Delivery Hero, and other local incumbents.Business (Item 1)

Places

Israel

operates innamed as a risk

As we expand into new jurisdictions and expand or pursue new business opportunities, the payment-related regulations that we are subject to will expand as well, including, for example, with respect to the provision of payments and financial services we offer in Israel.Risk factors (Item 1A)

Also named by AIOT, AKAM, AMAT, AMGN, APP, ASTS, AVY, BSX and 31 more

Germany

operates innamed as a risk

In certain jurisdictions where there are uncertainties associated with the interpretation of applicable law, or for other reasons, we may decide to adopt employment-based models, as we already do, for example, in Germany, which could result in certain operational challenges and increased costs and cause us to withdraw from certain jurisdictions or decide not to expand our business in or into a certain jurisdiction, which could limit our growth and expansion opportunities.Risk factors (Item 1A)

Also named by APO, AXGN, BF/B, CPRT, EBAY, GD, GDDY, KRYS and 12 more

San Francisco Bay Area

operates in

We face intense competition for highly skilled employees, especially in the San Francisco Bay Area where we have a substantial presence and need for highly skilled employees.Risk factors (Item 1A)

Also named by ADBE, ANET, ARE, DOCU, QLYS, RMNI, SIRI, ZS

Hazards

Weather

named as a risk

In contrast, the number of available Dashers has decreased, and is generally expected to decrease, during periods of cold or inclement weather when we need more Dashers available to fulfill orders driven by increased consumer demand.Risk factors (Item 1A)

Also named by AAP, CLX, CPRT, DECK, ENB, GVA, LII, LYV and 4 more

Middle East and Ukraine conflicts

operates innamed as a risk

As our business has grown, we have increasingly become subject to risks arising from adverse global economic and political conditions, including changing economic policy and the conflicts in the Middle East and Ukraine.Risk factors (Item 1A)

Also named by DLTR, GOOG

Commodities and inputs

Euro

exposed to its pricenamed as a risk

Our primary foreign currency exposure includes the Euro, the Canadian dollar, the Israeli shekel, and the Australian dollar.Risk factors (Item 1A)

Also named by ABBV, ABNB, ABT, ADBE, ADI, AME, AMG, AMGN and 186 more

Pound Sterling

exposed to its pricenamed as a risk

We transact business globally and have international revenue, as well as costs, denominated in multiple currencies, primarily the Euro, Pounds Sterling, Canadian dollars, Israeli shekel and Australian dollars.Market risk (Item 7A)

Also named by BEN, CPRT, DCH, DOV

Regulators

Finland Supreme Administrative Court worker classification decision

subject tonamed as a risk

For example, in May 2025, the Supreme Administrative Court in Finland issued a decision that courier partners in Finland were employees, but excluded from the Working Hours Act, resulting in Wolt not being responsible for keeping statutory records of Wolt courier partners' working hours.Risk factors (Item 1A)

Finnish Financial Supervisory Authority

subject tonamed as a risk

Should our payment institution or electronic money licenses be revoked in the future, or any other enforcement measures be taken by the Finnish Financial Supervisory Authority, such as imposing penalties or forcing us to cease offering certain payment facilities, our operations in Europe would be adversely affected.Risk factors (Item 1A)

Laws and programs

EU anti-money laundering directives

subject to · up to 10% of our revenuenamed as a risk

For example, in connection with our operations in Europe, we could be liable for penalties of up to 10% of our revenue in a fiscal year in the event that our anti-money laundering compliance measures are found to be insufficient.Risk factors (Item 1A)

General Data Protection Regulation (GDPR)

subject tonamed as a risk

With our operations in the EU, we are subject to the General Data Protection Regulation, as well as national data protection and privacy schemes in other countries in which we operate.Risk factors (Item 1A)

Also named by A, AB, ABNB, ADBE, ADP, AGX, AIOT, AJG and 100 more

Russia sanctions

subject tonamed as a risk

For example, our operations in jurisdictions that are in close proximity to Russia increase the difficulty in complying with trade and economic sanction regimes related to business with Russia.Risk factors (Item 1A)

Also named by ACN, AIR, BAM, BF/B, CW, DIS, GIS, KLAC and 5 more

California Proposition 22

subject tonamed as a risk

These provisions have increased our costs related to Dashers in California.Risk factors (Item 1A)

Also named by CART, UBER

EU Payment Services Directive (PSD II)

subject tonamed as a risk

For example, as a result of our operations in Europe, we are subject to the revised EU Payment Services Directive ("PSD II") and related regulations.Risk factors (Item 1A)

Also named by MA

California Labor Code Private Attorneys General Act (PAGA)

subject tonamed as a risk

monetary exposure arising from, or relating to, failure to withhold and remit taxes, unpaid wages and wage and hour laws and requirements (such as those pertaining to failure to pay minimum wage and overtime, or to provide required breaks and wage statements), expense reimbursement, statutory and punitive damages, penalties, including related to California's Labor Code Private Attorneys General Act (“PAGA”), and government fines;Risk factors (Item 1A)

Also named by RHI

EU Platform Work Directive

subject tonamed as a risk

Such EU-wide legislative reforms may adversely affect our ability to operate our current independent contractor model within the European Economic Area (the "EEA").Risk factors (Item 1A)

New York City minimum earnings standards for food delivery workers

subject tonamed as a risk

For example, in December 2023, a New York City rule mandating certain minimum earnings standards for certain food delivery workers took effect.Risk factors (Item 1A)

U.S. restaurant consent laws for delivery platforms

subject tonamed as a risk

In addition, measures have been enacted in many U.S. jurisdictions that prohibit, among other things, on-demand local commerce platforms like ours from facilitating deliveries from restaurants without the restaurants’ prior consent.Risk factors (Item 1A)

EU Digital Services Act

subject to

We track certain operational metrics, including merchant, consumer, and Dasher counts, key business and non-GAAP metrics, such as Total Orders, Marketplace GOV, Contribution Profit, Contribution Margin, Adjusted Gross Profit, Adjusted Gross Margin, Adjusted EBITDA, and Free Cash Flow, and certain other metrics required by regulatory and administrative bodies, such as the monthly active recipients of our services in the EU (as required by Article 24(2) of the Digital Services Act), with internal systems and tools that are not independently verified by any third party and those operational metrics may differ from estimates or similar metrics published by third parties due to differences in sources, methodologies, or the assumptions on which we rely.Risk factors (Item 1A)

Also named by ABNB, ADBE, BKNG, CSGP, EBAY, ETSY, GDDY, GOOG and 8 more