DoorDash reported higher-than-expected orders and revenue in the third quarter but warned investors that it will be spending significantly more on product development next year.

The San Francisco delivery company's shares fell by double-digits on that news in after-hours trading.

DoorDash said Wednesday its total orders rose 21% to 776 million in the July-September period. That beat Wall Street’s forecast of 770 million, according to analysts polled by FactSet.

DoorDash's revenue jumped 27% to $3.45 billion. That also beat analysts’ forecasts of $3.35 billion. The company cited strong growth in monthly active users and DashPass members as well as growing delivery demand in surprising categories like home improvement and beauty.

But growth is coming with higher expenses. DoorDash said W

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