- After years of spending on breakneck growth, Dingdong (Cayman) Ltd. finally appears to be slowing down in response to investor demands that it find a way to operate profitably.
- Dingdong’s revenue growth slowed to 72% in the fourth quarter, down from 111% and 78% in the third and second quarters, respectively.
- The company also reined in its spending, helping pare its quarterly net loss by 12% as it talked of profitability ‘soon’.
- The stock fell 1.8% in Tuesday trade after the results were announced, and was down another 2.5% after-hours.
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Dingdong Slows Down Spending, Dangles Prospect Of Profits