DoorDash vs Uber: Revenue, Profit and Business Model
DoorDash reported $13.7B of revenue in FY2025 and $935M of net income. Uber reported $52B of revenue in FY2025 and $10.1B of net income.
Latest financial snapshot
Financial summary
DoorDash
DoorDash has moved from a loss-making growth story to a profitable one. Revenue rose from $8.64 billion in 2023 to $10.72 billion in 2024 and $13.72 billion in 2025, while GAAP net income went from a loss in 2023 to $123 million in 2024 and $935 million in 2025. In Q2 2026, revenue grew 36% to $4.45 billion, Marketplace GOV rose 36% to $33.1 billion and adjusted EBITDA increased 40% to $914 million, but GAAP net income declined to $200 million because of higher spending on R&D, Deliveroo and new initiatives. Management guided Q3 2026 GOV of $33 billion to $34 billion and adjusted EBITDA of $950 million to $1.1 billion.
Uber
Uber moved from years of heavy losses to steady profitability. Revenue grew from $37.3 billion in FY2023 to $44.0 billion in FY2024 and $52.0 billion in FY2025, while net income attributable to Uber was $10.053 billion in FY2025 (FY2024's $9.856 billion included a large tax valuation allowance release). Growth continued into 2026: Q2 2026 gross bookings rose 24% year over year to $58.0 billion and revenue rose about 12% to roughly $14.2 billion, and trailing twelve-month free cash flow passed $10 billion. The pending Delivery Hero deal, valued at $14.8 billion in equity, would be Uber's largest acquisition.
Revenue and profit by year
DoorDash
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | $13.7B | $935M | 6.8% | +27.9% | Source |
| FY2024 | $10.7B | — | 0.0% | +24.2% | Source |
| FY2023 | $8.6B | — | 0.0% | — | Source |
Uber
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | $52B | $10.1B | 19.3% | +18.3% | Source |
| FY2024 | $44B | $9.9B | 22.4% | +18.0% | Source |
| FY2023 | $37.3B | $1.9B | 5.1% | +17.0% | Source |
| FY2022 | $31.9B | -$9.1B | -28.7% | +82.6% | Source |
| FY2021 | $17.5B | -$496M | -2.8% | +56.7% | Source |
| FY2020 | $11.1B | -$6.8B | -60.8% | -14.3% | Source |
| FY2019 | $13B | -$8.5B | -65.4% | +24.6% | Source |
| FY2018 | $10.4B | $997M | 9.6% | +31.5% | Source |
| FY2017 | $7.9B | -$4B | -50.8% | — | Source |
Where the revenue comes from
DoorDash
- Marketplace FeesMajority
Fees from merchants and consumers on DoorDash, Wolt, and Deliveroo marketplace orders.
- Advertising and PromotionsGrowing
Merchant and brand advertising products that monetize consumer traffic and purchase intent.
- DashPass and Subscriptions
Recurring
Subscription revenue from consumers who pay for delivery and service benefits.
- Commerce Platform and Drive
Strategic
White-label delivery, merchant tools, and software services, including capabilities expanded by SevenRooms.
Uber
- Mobility
~52% (Q2 2026)
Fees from ride-hailing trips, including UberX, Uber Black, taxis and autonomous rides on partner vehicles. About $7.36B of Q2 2026 revenue.
- Delivery
~37% (Q2 2026)
Fees from Uber Eats restaurant, grocery and retail orders, plus delivery advertising. About $5.25B of Q2 2026 revenue.
- Freight
~11% (Q2 2026)
Uber Freight brokerage and managed transportation services for shippers.
Business model and strategy
DoorDash
How it makes money
DoorDash runs a three-sided marketplace. Consumers pay delivery and service fees (or a DashPass membership at $9.99 a month in the U.S.), merchants pay commissions that ranged from 15% to 30% under its U.S. Basic, Plus and Premier plans, and independent Dashers are paid per delivery plus 100% of tips.
Growth strategy
DoorDash's growth strategy is to become the default local-commerce layer for every category, not just restaurants. That means grocery and convenience (including its own DashMart stores), retail partners, international scale through Wolt and Deliveroo, higher-margin advertising, the DashPass and Wolt+ membership programs, and merchant software such as SevenRooms.
Competitive advantage
DoorDash's advantage is local density. It expanded early into suburbs and smaller U.S. cities where rivals were thin, so it built the deepest merchant selection and Dasher coverage in many markets. Dense markets mean faster deliveries and more batching, which lowers cost per order and makes DashPass more valuable, which in turn raises order frequency.
Uber
How it makes money
Uber does not own most of the cars, restaurants or trucks on its platform. It matches riders with independent drivers (Mobility), consumers with restaurants, grocers and couriers (Delivery), and shippers with carriers (Freight), and keeps a share of each transaction as revenue.
Growth strategy
Uber's growth strategy centers on cross-platform engagement between Mobility and Delivery, Uber One membership, advertising, autonomous-vehicle partnerships, and international delivery scale. The €41.50-per-share Delivery Hero tender, launched September 18, 2026 after Delivery Hero's boards recommended it on September 2, would extend delivery density; Uber expects closing in the second half of 2027.
Competitive advantage
Uber's advantage comes from local marketplace liquidity, brand recognition, routing data, payments, driver and courier networks, merchant relationships, subscriptions, and cross-sell between Mobility and Delivery.
Questions about DoorDash vs Uber
Which company has higher revenue — DoorDash, Inc. or Uber Technologies, Inc.?
DoorDash, Inc. reported $13.7B (FY2025), while Uber Technologies, Inc. reported $52.0B (FY2025). By last reported revenue, Uber Technologies, Inc. is the larger business, with DoorDash, Inc. reporting a smaller revenue base.
What is the market cap of DoorDash, Inc. vs Uber Technologies, Inc.?
DoorDash, Inc.'s market capitalisation stands at $81.3B, while Uber Technologies, Inc.'s is $142.0B. Uber Technologies, Inc. carries the higher market valuation, reflecting investors' expectations of its future earnings power relative to DoorDash, Inc..
Which is more financially efficient — DoorDash, Inc. or Uber Technologies, Inc.?
DoorDash, Inc. generates $437k / employee in revenue per employee, while Uber Technologies, Inc. generates $1.53M / employee. Uber Technologies, Inc. shows higher revenue efficiency per headcount, though this reflects business model differences — capital-light software companies routinely outperform labour-intensive manufacturers on this metric.
How do DoorDash, Inc. and Uber Technologies, Inc. make money?
DoorDash, Inc. and Uber Technologies, Inc. generate revenue in fundamentally different ways. DoorDash, Inc.: DoorDash runs a three-sided marketplace. Uber Technologies, Inc.: Uber does not own most of the cars, restaurants or trucks on its platform.
Which company is valued higher relative to revenue — DoorDash, Inc. or Uber Technologies, Inc.?
On a price-to-sales (P/S) basis, DoorDash, Inc. trades at 5.9x P/S and Uber Technologies, Inc. at 2.7x P/S. DoorDash, Inc. commands a higher revenue multiple, typically indicating that investors expect faster growth or higher future margins compared to Uber Technologies, Inc.. A higher multiple is not inherently better — it may also signal that the stock is priced for perfection.
Is DoorDash, Inc. bigger than Uber Technologies, Inc.?
By last reported revenue, Uber Technologies, Inc. ($52.0B (FY2025)) is the larger company compared to DoorDash, Inc. ($13.7B (FY2025)). Revenue scale is one dimension of size — market capitalisation, employee count, and geographic reach are also relevant depending on the context.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the DoorDash vs Uber overview