Dingdong (Cayman) (DDL) Q1 2026 earnings summary

Executive summary

• Achieved ninth consecutive quarter of GAAP profitability and fourteenth consecutive quarter of non-GAAP profitability, with sustained year-over-year revenue growth and strong execution in a competitive market.

• Entered into a definitive agreement to sell China business to Mean, with plans to use proceeds for share repurchases and/or dividends; transaction pending regulatory clearance.

Financial highlights

• GMV rose 6.3% year-over-year to RMB6,333.3 million (US$918.1 million).

• Total revenues increased 7.5% year-over-year to RMB5,892.7 million (US$854.3 million).

• Net income was RMB165.4 million (US$24.0 million), up from RMB8.0 million a year ago.

• Non-GAAP net income reached RMB172.0 million (US$24.9 million), a 466.7% increase year-over-year.

• Gross margin remained stable at 29.9%; cost of goods sold as a percentage of revenue was 70.1%.

Outlook and guidance

• Management expects faster growth momentum entering the second quarter, supported by supply chain excellence and market penetration.