DoorDash shared its second-quarter earnings performance last week and it was another boffo report, at least on the revenue side. Revenue went up 23 percent to $2.6 billion over a year ago. It lowered its net loss from $170 million to $157 million. And it received 635 million orders in the quarter, a growth of 19 percent. It isn’t yet profitable but 36 analysts expect the company to be in the black next year, according to Simply Wall Street.
Uber Eats is also swimming in revenue. It landed $12.1 billion in 2023, up from $10.9 billion a year before. Unlike DoorDash, Uber Eats is part of a larger ecosystem, which is profitable, a threshold it just achieved last year.
Grubhub has a different story. It is still quite flush, bringing in $2.1 billion in revenue last year, but unlike DoorDash and Uber Eats, it’s trending in the other direction, slipping from $2.4 billion in 2022.
There are three metrics that can be instructive in analyzing performance: number of partnered restaurants, revenues, number of users. We pulled data from the site Business of Apps. We’ll let you be Jim Cramer and decide what you think.
Number of Partnered Restaurants
| Year | Uber Eats | DoorDash | Grubhub |
| 2017 | 80,000 | 59,000 | 95,000 |
| 2018 | 100,000 | 100,000 | 115,000 |
| 2019 | 220,000 | 258,000 | 225,000 |
| 2020 | 600,000 | 340,000 | 265,000 |
| 2021 | 900,000 | 390,000 | 324,000 |
| 2022 | 825,000 | 465,000 | 333,000 |
| 2023 | 890,000 | 550,000 | 325,000 |
Revenues
| Year | Uber Eats | DoorDash | Grubhub |
| 2017 | .6 billion | .22 billion | 683 million |
| 2018 | 1.5 billion | .55 billion | 1.07 billion |
| 2019 | 1.9 billion | .85 billion | 1.32 billion |
| 2020 | 4.8 billion | 2.88 billion | 2.03 billion |
| 2021 | 8.3 billion | 4.88 billion | 2.36 billion |
| 2022 | 10.9 billion | 6.58 billion | 2.48 billion |
| 2023 | 12.1 billion | 8.63 billion | 2.1 billion |
Users
| Year | Uber Eats | DoorDash | Grubhub |
| 2018 | 15 million | 4 million | 17.7 million |
| 2019 | 21 million | 10 million | 22.6 million |
| 2020 | 66 million | 20 million | 31.4 million |
| 2021 | 81 million | 25 million | 33.8 million |
| 2022 | 85 million | 32 million | 28.3 million |
| 2023 | 88 million | 37 million | 24.6 million |