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I was sitting at my desk eating my lunch of Black Pepper Fettucine from Spasso via DoorDash (DASH), reviewing DASH’s excellent 2Q22 results and waiting for Jim Chanos to tweet something wrong with them. (He’s in the process of a thread right now).

The problem for Chanos is that the results were unambiguously good. Gross Order Volume (GOV) was up 25% from a year ago to $13.1 billion resulting in 30% revenue growth. On the back of these strong numbers, DASH raised its full-year GOV guidance $2 billion to $51-$53 billion and its Adjusted EBITDA guidance from $0-$500 million to $200-$500 million. Shares are currently +14% in the after hours.

The bottom line is that there are a lot of people willing to pay to have their food delivered to them rather than taking the time to pick it up. Chanos can quibble all he wants but DASH is a leader of the future and in the early stages of its growth cycle.

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