DoorDash, Inc.

I'm pleased to be joined today by co-founder, chair, and CEO, Tony Hsu, and CFO, Ravi Nekonda. We'll be making forward-looking statements during today's call, including our expectations for our business, financial position, operating performance, our guidance strategies, capital allocation approach, and the broader economic environment. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those described. Many of these uncertainties are described in our SEC filings, including our Form 10-Ks and 10-Qs. We should not rely on our forward-looking statements as predictions of future events. We disclaim any obligation to update any forward-looking statements except as required by law. During this call, we will also discuss certain non-GAAP financial measures, information regarding our non-GAAP financial measures, including a reconciliation of the non-GAAP measures to the most directly comparable GAAP measures, may be found in our earnings release, which is available on our investor relations website. These non-GAAP measures should be considered in addition to our GAAP results and are not intended to be a substitute for our GAAP results. Finally, this call is being audio webcasted on our investor relations website, and an audio replay of the call will be available on the same website shortly after the call ends. John, I'll pass it back to you, and we can take the first question.

Thank you. Ladies and gentlemen, we will now begin our question and answer session. If you have dialed in and would like to ask a question, please press star followed by the number one on your telephone keypad. We'll pause for a moment to compile the Q&A roster. Thank you. The first question comes from the line of Nikhil Devnani from Bernstein. Please go ahead.

Hi, thanks for taking the question. I wanted to ask about what you're seeing from an overall demand perspective. There's a lot of talk right now about softening restaurant demand. Your outlook points to some deceleration, but still looks very healthy. So I guess to what degree are you seeing changes in behavior or softening on that front? And my follow-on to that is a bit more of the secular story here. So, I mean, how would you characterize the new customer funnel for the U.S. restaurant marketplace? I think there's a common perception that all customers should have been acquired during the pandemic, but what do you see on that front in terms of how new customers are still adopting this service today, and how does that make you – how do you think about where we are on kind of the growth curve there? Thank you.