Slide 1: Uber Technologies, Inc. Q4 2021 Earnings Supplemental Data
Uber Technologies, Inc. Q4 2021 Earnings Supplemental Data February 9, 2022 Q4 2021 Earnings 1
Slide 2: Non-GAAP Financial Measures Disclosure
Non-GAAP Financial Measures Disclosure To supplement our financial information, which is prepared and We believe that both management and investors benefit from For more information on these non-GAAP financial measures, presented in accordance with generally accepted accounting referring to these no
Slide 3: Forward Looking Statements
Forward Looking Statements This presentation contains forward-looking statements offerings, our ability to attract drivers, consumers and other regarding our future business expectations, which involve risks partners to our platform, our brand and reputation and other and uncertainties. Actual resul
Slide 4: Business Highlights
Business Highlights Platform Highlights Segment Details Condensed Consolidated Financials Non-GAAP Reconciliations Q4 2021 Earnings 4
Slide 5: Mobility rapidly recovering from Omicron impacts; Delivery increasingly an ingrained habit
Mobility rapidly recovering from Omicron impacts; Delivery increasingly an ingrained habit Jan’20 Seasonal Approaching decline full recovery Delta Flatlining with relatively limited Omicron Elevated case lockdowns Alpha count globally Global Beta COVID-19 outbreak Dec Feb Apr Jun Aug Oct Dec Feb Apr
Slide 6: Marketplace balance improved through Q4
Marketplace balance improved through Q4 56% 4.2 min New York We made significant progress in 2.7 improving US marketplace balance City min in Q4, and saw rapid normalization in 1.9 20% min January with demand softening. As demand recovers, we expect the 2% continued driver engagement to Jan ’21 Jul
Slide 7: Delivery: First quarter of Adjusted EBITDA profitability
Delivery: First quarter of Adjusted EBITDA profitability 43% YoY 25% YoY 120% YoY 142% YoY 98% YoY Gross 47% YoY Bookings Q4 '19 Q4 '20 Q4 '21 0.2% 0.1% Adjusted EBITDA and (1.6%) (1.3%) Adjusted (6.0%) EBITDA Margin (14.4%) Q4 '19 Q4 '20 Q4 '21 US&C International Note 1: US&C Gross Bookings growth
Slide 8: Advertising: Strong execution to surpass original targets
Advertising: Strong execution to surpass original targets 30+ Countries launched 170k Activated advertisers in Dec ’21 ~$225M (vs. $100M original target) Dec ‘21 annualized revenue run-rate Q4 2021 Earnings 8
Slide 9: Platform Highlights
Business Highlights Platform Highlights Segment Details Condensed Consolidated Financials Non-GAAP Reconciliations Q4 2021 Earnings 9
Slide 10: Operating Metrics
Operating Metrics In Millions +27% 118 109 98 101 93 MAPCs MAPCs Growth YoY Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 +23% 1,769 1,641 1,447 1,511 1,443 Trips Trips Growth YoY Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Monthly Trips / MAPC 5.2 4.9 5.0 5.0 5.0 Note 1: MAPCs is the number of unique consume
Slide 11: Gross Bookings
Gross Bookings $ in Millions $25,866 $23,113 $21,900 $19,536 +12% $17,152 Gross Bookings Growth QoQ Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 (5%) 24% 114% 57% 51% % Growth YoY (4%) 22% 104% 53% 50% % Constant Currency Growth YoY Note 1: We define Gross Bookings as the total dollar value, including an
Slide 12: Revenue
Revenue $ in Millions 22.3% 21.0% ** 18.5% 17.9% 14.9% * +19% $5,778 $4,845 ** $3,929 $3,165 Revenue Growth QoQ $2,903 * Take Rate Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 (16%) (11%) 105% 72% 83% % Growth YoY (15%) (11%) 95% 69% 82% % Constant Currency Growth YoY *Q1’21 Revenue of $2,903 million inc
Slide 13: Adjusted EBITDA
Adjusted EBITDA $ in Millions +$540M $8 $8 $86 0.3% ($359) 0% YoY improvement in ($454) ($509) Adjusted EBITDA (1.8%) (2.3%) (2.6%) Q4 2020 Q1 2021 Q2 2021 Q3 2021 Q4 2021 Adjusted EBITDA Margin as a % of Gross Bookings Note 1: We define Adjusted EBITDA as net income (loss), excluding (i) income (lo
Slide 14: Segment Details
Business Highlights Platform Highlights Segment Details Condensed Consolidated Financials Non-GAAP Reconciliations Q4 2021 Earnings 14
Slide 15: Mobility Highlights
Mobility Highlights $ in Millions +15% $11,340 $9,883 $8,640 Gross $6,789 $6,773 Bookings % Constant Currency Growth YoY (47%) (36%) 174% 63% 67% QoQ improvement in 21.7% 12.6% * 18.7% 22.3% * 20.1% Gross Bookings $2,205 * $2,278 $1,471 $1,617 Revenue $853 * % Constant Currency Growth YoY (51%) (63%
Slide 16: Delivery Highlights
Delivery Highlights $ in Millions +77% $12,461 $12,912 $12,828 $13,444 $10,050 Gross Bookings % Constant Currency Growth YoY 128% 157% 75% 46% 33% Revenue Growth YoY at Constant Currency 17.4% 18.0% 13.5% 14.0% 15.2% Revenue % Constant Currency Growth YoY $1,356 220% $1,741 215% $1,964 106% $2,238 9
Slide 17: Freight Highlights
Freight Highlights $ in Millions $1,080 Q4 2021 Revenue includes contributions from the acquisition of Transplace which $348 $402 $313 $301 closed on November 12, 2021 Revenue % Constant Currency Growth YoY 43% 52% 64% 39% 245% ($41) ($29) ($41) ($35) ($25) +6.4 ppts Adjusted (2.3%) QoQ improvement
Slide 18: Condensed Consolidated Financials
Business Highlights Platform Highlights Segment Details Condensed Consolidated Financials Non-GAAP Reconciliations Q4 2021 Earnings 18
Slide 19: Condensed Consolidated Statements of Operations
Condensed Three Months Ended December 31, Year Ended December 31, 2020 2021 2020 2021 Consolidated Revenue $3,165 $5,778 $11,139 $17,455 Costs and expenses Statements of Cost of revenue, exclusive of depreciation and amortization shown separately below 1,441 3,104 5,154 9,351 Operations and support
Slide 20: Condensed Consolidated Balance Sheets
Condensed As of December 31, As of December 31, 2020 2021 Consolidated Assets Cash and cash equivalents $5,647 $4,295 Balance Sheets Short-term investments 1,180 - Restricted cash and cash equivalents 250 631 Accounts receivable, net 1,073 2,439 (Unaudited) Prepaid expenses and other current assets
Slide 21: Condensed Consolidated Balance Sheets (Continued)
Continued: Condensed As of December 31, As of December 31, 2020 2021 Consolidated Liabilities, redeemable non-controlling interests and equity Accounts payable $235 $860 Short-term insurance reserves Balance Sheets 1,243 1,442 Operating lease liabilities, current 175 185 Accrued and other current li
Slide 22: Summary of liquidity position and equity stakes
Summary of liquidity position and equity stakes Liquidity Position Equity Stakes (Carrying value) Uber’s Ownership Position $12.5B Other $0.4B $0.4B $0.2B Joby $0.2B ~11% Aurora $3.4B ~14% ~25% Grab $3.8B ~29% ~7% Yandex $0.8B Unrestricted Zomato $1.1B ~4% Cash $4.3B ~31% Didi $2.8B Note 1: Liquidit
Slide 23: Condensed Consolidated Statements of Cash Flows
Year Ended December 31, Condensed 2020 2021 Consolidated Cash flows from operating activities Net loss including non-controlling interests ($6,788) ($570) Statements of Adjustments to reconcile net loss to net cash used in operating activities: Depreciation and amortization 575 902 Bad debt expense
Slide 24: Condensed Consolidated Statements of Cash Flows (Continued)
Continued: Year Ended December 31, Condensed Cash flows from investing activities 2020 2021 Consolidated Purchases of property and equipment Purchases of non-marketable equity securities (616) (10) (298) (982) Statements of Purchases of marketable securities Proceeds from maturities and sales of mar
Slide 25: Non-GAAP Reconciliations
Business Highlights Platform Highlights Segment Details Condensed Consolidated Financials Non-GAAP Reconciliations Q4 2021 Earnings 25
Slide 26: Adjusted EBITDA Reconciliation (Unaudited)
Adjusted EBITDA Reconciliation (Unaudited) $ in Millions Three Months Ended Dec 31, '20 Mar 31, '21 Jun 30, '21 Sep 30, '21 Dec 31, ‘21 Mobility $293 $298 $179 $544 $575 Delivery (145) (200) (161) (12) 25 Freight (41) (29) (41) (35) (25) All Other (72) (11) - - - Corporate G&A and Platform R&D (489)
Slide 27: Non-GAAP Costs and Operating Expenses Reconciliations (Unaudited)
Non-GAAP Costs and Operating Expenses Reconciliations (Unaudited) $ in Millions Three Months Ended Dec 31, ‘20 Mar 31, ‘21 Jun 30, ‘21 Sept 30, ‘21 Dec 31, ‘21 Revenue $3,165 $2,903 $3,929 $4,845 $5,778 GAAP Cost of Revenue 1,441 1,710 2,099 2,438 3,104 COVID-19 response initiatives (13) (11) (6) -
Slide 28: Non-GAAP Costs and Operating Expenses Reconciliations (Continued)
Continued: Non-GAAP Costs and Operating Expenses Reconciliations (Unaudited) $ in Millions Three Months Ended Dec 31 ‘20 Mar 31 ‘21 Jun 30 ‘21 Sept 30 ‘21 Dec 31 ‘21 GAAP Sales and marketing $1,038 $1,103 $1,256 $1,168 $1,262 Restructuring and related charges 1 - - - - Acquisition, financing and div
Slide 29: Revenue Excluding UK Accrual Reconciliations
Revenue Excluding UK Accrual Reconciliations $ in Millions Three Months Ended Dec 31 '20 Mar 31 '21 Jun 30 '21 Sep 30 '21 Dec 31 ‘21 Revenue Excluding UK Accrual reconciliation Revenue 3,165 2,903 3,929 4,845 5,778 Add back: UK Accrual - 600 - (123) (19) Revenue Excluding UK Accrual $3,165 $3,503 $3
Slide 30: Delivery business model change impact on Cost of Revenue
Delivery business model change impact on Cost of Revenue $ in Millions Three Months Ended Dec 31 '20 Mar 31 '21 Jun 30 '21 Sep 30 '21 Dec 31 ‘21 Non-GAAP Cost of Revenue $1,428 $1,699 $2,093 $2,333 $3,107 Delivery business model change impact* $176 $390 $560 $697 $726 Non-GAAP Cost of Revenue (% of