DAMS entered the International Formula 3000 Championship in 1989, a year after its foundation. The team quickly made its mark, winning the drivers' title with Érik Comas in 1990, Olivier Panis in 1992, and Jean-Christophe Boullion in 1994. Over its thirteen seasons in Formula 3000 between 1989 and 2001, DAMS accumulated four team titles, three drivers' titles, 21 wins, 19 pole positions, and 19 fastest laps, placing it among the most decorated teams in the championship's history alongside Super Nova and Arden International. The team benefited from association with the Elf young driver sponsorship programme, which channelled talented French drivers through its structure.
DAMS planned to enter the Formula One World Championship in 1996 with a car designated the GD-01, developed in collaboration with Reynard. The project did not advance, as the team was unable to secure sufficient funds. Although DAMS never raced in Formula One as a constructor, the failed attempt underscored the financial gulf between the feeder series and the top level even for well-established junior teams.
DAMS entered the GP2 Series from its inaugural 2005 season, maintaining links with the Renault Formula One team and later with the Toyota Drivers Program between 2006 and 2009. Kazuki Nakajima, a Toyota junior, drove for the team in 2007, finishing fifth in the championship and earning a Formula One race outing with Williams at the season finale.
Romain Grosjean dominated his 2011 campaign with DAMS, winning both the main GP2 Series and the GP2 Asia Series championships. The team secured its first GP2 Teams' Championship in 2012, with Davide Valsecchi winning the drivers' title and Felipe Nasr providing strong support. The 2014 season brought another double, with Jolyon Palmer taking the drivers' championship and the team winning the constructors' title as well.
Among the drivers DAMS developed who subsequently reached Formula One were Pierre Gasly, Alexander Albon, and Nicholas Latifi — who raced together for the team in 2018 before both Albon and Latifi graduated to Williams. The team's alumni list also includes Carlos Sainz Jr. and Kevin Magnussen, who won World Series by Renault titles with DAMS.
DAMS entered the inaugural Formula E championship in 2014 as e.dams, in collaboration with Renault and former Formula One driver Alain Prost. Sébastien Buemi became the team's standout performer, finishing runner-up in the first season, winning the championship in 2015–16, and nearly retaining it in 2016–17 before losing the title to Lucas di Grassi at the final round in Montreal. The e.dams partnership with Renault secured three consecutive constructors' titles between 2015 and 2017.
The team later switched to Nissan for the 2018–19 season, with Oliver Rowland partnering Buemi after Alexander Albon departed for Toro Rosso. Nissan's controversial dual-motor powertrain produced six pole positions but was subsequently outlawed. Despite improvements in 2019–20, results deteriorated in subsequent seasons, and Nissan ended the partnership after the 2021–22 season to operate independently.
Starting in 1997, DAMS diversified into sports car racing, entering the FIA GT Championship in partnership with Panoz. The team subsequently ran Lola prototypes in the American Le Mans Series and participated in the 24 Hours of Le Mans on several occasions. DAMS also prepared the works Cadillac Northstar LMP prototypes for General Motors in 2000 and 2001, though without significant results. In 2002, the team participated at Le Mans helping the Michel Vaillant film project, preparing both a Lola and a Panoz under fictional racing identities.
Jean-Paul Driot died in August 2019 at the age of 68. His sons Olivier and Gregory Driot took over as co-team principals until former Formula One driver Charles Pic acquired the team in February 2022.
Notable alumni who went on to major successes beyond Formula One include Sébastien Bourdais, who won four consecutive Champ Car titles after racing for DAMS in Formula 3000, and Sébastien Buemi, a three-time World Endurance Championship LMP1 winner and Le Mans victor. Marcus Ericsson won the 2022 Indianapolis 500 having raced in DAMS-managed machinery earlier in his career.