Nearly a year after confidentially filing to go public, food delivery unicorn DoorDash Inc. today released the paperwork for its upcoming listing to give the world the first detailed glimpse at its earnings.

DoorDash, with a valuation of $16 billion as of its last funding round, is the largest player in the U.S. food delivery market. The newly released initial public offering paperwork reveals that the company has expanded its lead over the last nine months. DoorDash logged revenues of $1.9 billion in the three quarters ended Sept. 30, an increase of no less than 226% over the year-ago period.

Notably, the company has managed to grow its top line while narrowing losses as well. Losses declined significantly in the nine months ended Sept. 30, from $533 million last year to $149 million.

However, though DoorDash has moved closer to achieving profitability in recent quarters, the leadership team plans to prioritize growth following the planned IPO. “We expect our costs will increase over time and our losses to continue as we expect to invest significant additional funds towards growing our business and operating as a public company,” DoorDash’s IPO filing states.

The document also provides insight into some of the factors influencing DoorDash’s growth strategy. “The circumstances that have accelerated the growth of our business stemming from the effects of the COVID-19 pandemic may not continue in the future,” the company cautioned.

DoorDash listed developing new services, improving app personalization and enhancing the analytics tools it offers to merchants among the priorities on its roadmap. The company provides an analytics dashboard for partner merchants that allows them to view metrics centrally on the number of orders they receive and how many of them are from new customers. DoorDash also provides tools that restaurant operators can use to target users with personalized promotions. 

Beyond its earnings, DoorDash disclosed in the IPO filing that it works with more than 390,000 merchants, including most of the 200 largest restaurant chains in the U.S. The company has about a million drivers and more than 18 million customers.

DoorDash plans to list on the New York Stock Exchange under the ticker symbol DASH. The company has set a fundraising target of $100 million for the listing, a figure that usually serves as a placeholder value until a company determines the amount of capital it will seek to raise from investors. 

Another high-profile tech firm expected to go public in the foreseeable future is Airbnb Inc., which reportedly plans to file its IPO paperwork next week. Sources told Reuters recently that the company is aiming to raise about $3 billion at a valuation as high as $30 billion or more, which would make the listing one of the largest in the U.S. this year.

Photo: DoorDash