Dordesh is considered one of the “corona stocks” like Zoom and others whose businesses have received a strong boost following the closures and social distance. The company took advantage of this and rushed to an initial public offering in the middle of the Corona crisis, in December 2020, but it has been declining in a negative trend since September 2021, and is now trading at a value of $ 28.7 billion after falling about 60% since its issuance.
At the same time, growth in the company seems to be continuing, even though the world is gradually coming out of the corona locksmiths (except China). The company reported its results for the first quarter of 2022 and showed revenue growth. The stock is responding with a 7% rise in early trading on Wall Street, after falling above 10% yesterday in the general collapse in trading.
The company noted that the number of customers has increased at the fastest rate in the past year, in what is partly attributed to the company’s new subscription program – DashPass. The company reports 25 million monthly users, and 10 million customers signed up for the new service – record numbers. The number of orders reached $ 404 million, a growth rate of 23%. At the same time, although growth continues, some growth is moderating relative to corona changes. The peak in growth in the number of orders was 219% in the corresponding quarter last year, and since then it has not returned to show similar numbers.
According to reports, the company’s revenue grew 35% to $ 1.46 billion, above analysts’ expectations for revenue of $ 1.38 billion. The bottom line, however, is that the company continues to report a loss, which is even deeper than last year and is even higher than analysts’ forecasts. The net loss reached $ 167 million compared to analysts’ expectations of $ 142.9 million, compared to a loss of $ 110 million in the corresponding quarter. The net loss per share was 48 cents compared to analysts’ expectation of a loss of 38 cents per share and a loss in the corresponding quarter of 34 cents per share.
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