Dingdong announced its third-quarter financial report on November 7th. In the third quarter of 2024, Dingdong's revenue reached 6.538 billion RMB, a year-on-year increase of 27.2%. Among them, commodity revenue was 6.458 billion RMB, compared to 5.083 billion RMB in the same period last year; service revenue was 79.8 million RMB, compared to 57.2 million RMB in the same period last year. Net income was 0.133 billion RMB, compared to 2.1 million RMB in the same period last year, a year-on-year increase of 6240.6%; diluted earnings per share were 0.40 RMB. The company's GMV for the third quarter was 7.267 billion RMB, a year-on-year increase of 28.3%.

Dingdong founder and CEO, Liang Changlin, said: "As of the third quarter of 2024, Dingdong has achieved non-GAAP profitability for eight consecutive quarters, and GAAP profitability for three consecutive quarters. The company's revenue has continuously increased year-on-year for three consecutive quarters. GMV and net income have also reached quarterly highs. For the fourth quarter and full-year outlook of 2024, we have raised our annual targets based on the current performance. We expect significant year-on-year growth in non-GAAP and GAAP net profits, as well as the overall business scale next quarter and throughout the year. We are confident in the company's rapid development potential for the remaining time this year and the future."

Dingdong CFO, Wang Song, stated: "In the third quarter of 2024, we achieved revenue of 6.54 billion RMB, a year-on-year increase of 27.2%. This significant growth has brought our profitability to a historic high, with non-GAAP net income of 0.162 billion RMB, more than nine times higher than the same period last year. The non-GAAP net profit margin is 2.5%, an increase of 2.2 percentage points from the same period last year. GAAP net income was 0.133 billion RMB, an increase of 0.131 billion RMB year-on-year, with the net profit margin increasing by 2.0 percentage points to 2%. Operating cash inflow reached 0.4 billion RMB, an increase of 0.27 billion RMB from the same period last year, marking our fifth consecutive quarter of positive operating cash inflow."

Looking ahead, the company has raised its expectations for net income and business scale, more optimistic than the previous quarter, and anticipates significant year-on-year growth in the fourth quarter and full year. The company aims to achieve profitability on both non-GAAP and GAAP bases in the fourth quarter and full year of 2024.