Hong Kong · Delayed Price · Currency is HKD DPC Dash Earnings Call Transcripts
Fiscal Year 2026
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Revenue grew 20.8% year-over-year, driven by network expansion and strong transaction growth, though margins contracted due to aggregator subsidy pressures. Store expansion remains on track, with SSG expected to turn positive in 2027 as cost initiatives and channel mix improvements take effect.
Fiscal Year 2025
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Revenue grew 24.8% to RMB 5.38 billion, with non-Tier 1 cities driving 43.4% growth and store count reaching 1,315. Adjusted EBITDA rose 28.2% and adjusted net profit increased 43.3%, while store-level margins saw slight compression due to expansion investments.
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Revenue grew 27% year-over-year to RMB 2.59 billion, with strong expansion in non-Tier 1 cities and robust profitability improvements. Store-level EBITDA and adjusted net profit rose significantly, while digital and delivery initiatives drove customer engagement and loyalty.
Fiscal Year 2024
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Revenue grew 41.4% to RMB 4.3 billion in 2024, with net profit turning positive and strong expansion into new cities. Store-level margins and adjusted EBITDA improved, while new growth markets drove 61.8% of total revenue. Plans for 300 new stores in 2025 remain on track.