Tyler Crowe

So, yes, I think it's there, but I think we should all be ready for those curves that could happen.

I mean, we've seen it in numerous other industries before.

After the break, Matt and John are going to walk me through what I don't understand in DoorDash's earnings.

Like I said before the break here, I had a really hard time understanding what's going on with DoorDash's earnings and the response that we're seeing in the stock based on what they released.

So you're going to have to help me here.

DoorDash order volume, its gross order value, its revenue, they were all up a nice clip, like 25%, 30%.

But operating profit, net income, operating cash flow were all down year over year on rising operating costs.

Now, the market seemed to like this.

Shares are roughly up, I think, 2% as we are taping.

And I'm a little perplexed by this because in theory, this is supposed to be one of those capital light economic scale businesses where growth is supposed to outpace overhead costs and lead to expanding margins.

I think where we're at right now, you know, was it like three, four billion over the past 12 months in terms of revenue?

That's

That's a pretty good scale for an online delivery company.

But we're still headed in the other direction with operating costs.

And so as you guys looked at, again, conference calls, earnings, maybe some press releases that you've seen over the past quarter, what's been going on with DoorDash, is this just like a one-time blip?

Is this something that there's something else going on here where costs are expanding because of who they're delivering to or something like that?

What am I missing when I see this and the market reaction?

All right, so we have a big acquisition coming in Deliveroo.

Also, it looks like, you know, the mix of deliveries might be headed towards ever so slightly compressing margins.

So with kind of these like, I would call them shorter term, like headwinds or elevated costs or whatever you want to call it,