PR Newswire·Nov 12, 2026, 6:00 AM ET

Dingdong (Cayman) Limited Announces Third Quarter 2026 Financial Results

DDL

Dingdong (Cayman) Limited reported unaudited financial results for the quarter ended September 30, 2026, achieving total GMV of RMB8,311.1 million (US$1,239.6 million), a 14.3% year-over-year increase marking the eleventh consecutive quarter of positive growth.
The company posted net income of RMB298.1 million (US$44.5 million) for the quarter, representing the eleventh consecutive quarter of GAAP profitability, while Non-GAAP net income reached RMB307.6 million (US$45.9 million) for the sixteenth consecutive quarter of non-GAAP profitability.
Total revenues increased 10.8% year-over-year to RMB7,380.4 million (US$1,100.8 million), driven by an 11.0% rise in China business revenues to RMB7,307.2 million, offset by a 6.9% decline in overseas business revenues to RMB73.2 million.
Gross margin improved to 29.7% from 28.9% in the prior year quarter, attributed to the implementation of the 4G Strategy, while fulfillment expenses as a percentage of revenue decreased to 19.5%.
Net income for the China business was RMB330.6 million, significantly boosted by RMB195.7 million due to the cessation of depreciation and amortization on assets classified as held-for-sale pending divestment to Meituan.
The proposed divestment of Dingdong's China business to Meituan, agreed upon on February 5, 2026, remains pending subject to standard closing conditions including anti-monopoly approval from SAMR.
Operating cash flow demonstrated strong performance with a net cash inflow from operating activities of RMB351 million, including RMB384 million from the China business, while the company maintained cash, cash equivalents, restricted cash, and short-term investments of RMB4,361.9 million as of September 30, 2026.
Eastern China region delivered particularly strong GMV growth of 17.6% year-over-year, supported by new fulfillment station openings in Huai'an, Hefei, and Suqian, alongside the strategic elevation of the private label brand Dingdong V5.
The company continued to optimize its fulfillment network by closing inefficient stations in Beijing and the Guangzhou-Shenzhen area, while simultaneously increasing spending on sales and marketing to support differentiated product capabilities.

Company: Dingdong (Cayman) Limited
Keywords: Dingdong (Cayman) Limited