DoorDash, Inc. (NASDAQ:DASH) Q3 2023 Earnings Conference Call November 1, 2023 5:00 PM ET

Company Participants

Andy Hargreaves - Vice President, Finance and Investor Relations

Tony Xu - Co-Founder, Chair and CEO

Ravi Inukonda - Chief Financial Officer

Conference Call Participants

Nikhil Devnani - Bernstein

Ross Sandler - Barclays

Deepak Mathivanan - Wolfe Research

Ron Josey - Citi

Eric Sheridan - Goldman Sachs

Douglas Anmuth - J.P. Morgan Securities Inc.

Brian Nowak - Morgan Stanley

Michael Morton - MoffettNathanson

Michael McGovern - BofA Securities

Andrew Boone - JMP Securities LLC

Operator

Thank you for standing by, and welcome to the DoorDash Q3 2023 Earnings Call. I would now like to welcome Andy Hargreaves, VP of Investor Relations to begin the call. Andy, over to you.

Andy Hargreaves

Thank you very much. Good afternoon, everybody, and thanks for joining us for our Q3 2023 earnings call. I am very pleased to be joined today by Co-Founder, Chair and CEO, Tony Xu; and CFO, Ravi Inukonda.

We will be making forward-looking statements during today’s call being our expectations for our business, financial position, operating performance, our guidance, strategies, our investment approach, and the consumer spending environment.

Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those described. Many of these uncertainties and risks are described in our SEC filings, including Form 10-Ks and 10-Qs. You should not rely on our forward-looking statements as predictions of future events. We disclaim any obligation to update any forward-looking statements, except as required by law.

During this call, we will discuss certain non-GAAP financial measures. Information regarding our non-GAAP financial measures, including a reconciliation of such non-GAAP measures to the most directly comparable GAAP financial measures may be found in our earnings release, which is available on our Investor Relations website. These non-GAAP measures should be considered in addition to our GAAP results and are not intended to be a substitute for our GAAP results. Finally, this call is being audio webcasted on our Investor Relations website. And an audio replay of the call will be available on our website shortly after the call ends.

Operator, I will pass it back to you and we will begin taking questions.

Question-and-Answer Session

Operator

[Operator Instructions] Our first question comes from the line of Nikhil Devnani with Bernstein. Please go ahead.

Nikhil Devnani

Hey, guys. Thank you for taking my question. I had a two-parter on the U.S marketplace. So everyone is obviously worried about a variety of headwinds and a softening consumer, yet your business is accelerating in the U.S. Can you comment on, one, what drove that acceleration? And then as a follow-on, I think the perception is your marketplace is highly discretionary, but given all the data you see in how consumers actually use your service, would you agree with that assessment? And how do you think about the sensitivity of demand?