Slide 1: 2020 Investor Global All Hands Presentation
2020 Investor Global All Hands Presentation February 6, 2020
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: Contents
Contents 01 Uber today What we do & where we’re going 02 Rides Undisputed global leader 03 Eats Following the path of Rides 04 Other businesses Bets in transformational industries 05 Path to profitability As of FYE19, unless otherwise noted
Slide 5: Uber today
Uber today
Slide 6: A global tech platform at massive scale
A global tech Rides Eats platform at massive scale Serving multiple multi-trillion dollar markets with products leveraging our Freight New core technology and infrastructure Mobility 69 10,000+ Countries Cities 1 ATG Elevate 1. Based on our internal definition of city, which includes metropolitan ar
Slide 7: Unparalleled growth at scale with significant, loyal monthly active users
Unparalleled growth at scale with significant, loyal monthly active users across multiple products & segments Gross Bookings $65B Gross Bookings 111M MAPCs 2 $65B R +$15B / 35% YoY Growth 1 +20M / 22% YoY Growth AG C $50B 5 0% $34B $19B 7B Trips 5M Drivers +1.7B / 32% YoY Growth '16 '17 '18 '19 Gros
Slide 8: Leveraging our unique platform assets to launch, scale, and optimize our businesses
Leveraging our unique platform assets to launch, scale, and optimize our businesses Leading technology Operational excellence Massive network Differentiated, proprietary demand Regional on-the-ground operations Massive, efficient, and intelligent; our prediction, dispatching, matching, enable better
Slide 9: The one-stop shop & operating system for modern city life
The one-stop shop & operating system for modern city life Mobility Platform Food delivery
Slide 10: Significant progress achieved since IPO
Significant progress achieved since IPO Continued growth at scale in 2019 with Continued product innovation to Gross Bookings and Adjusted Net Revenue improve loyalty (Rewards), access new growing $15B and $2.6B YoY, respectively customer segments (Comfort), and provide leading safety features Impro
Slide 11: Rides: Undisputed global leader
Rides 76% Of 2019 Gross Bookings Undisputed global leader
Slide 12: #1 in every major region in which we operate
#1 in every major region in which we operate Region Category position1 US & CA > 65% ` LatAM > 65% Europe > 65% ANZ > 65% MEA > 65% India > 50% Region Ownership stake Russia / CIS ~37% of Yandex Taxi Owned operations2 Southeast Asia ~19% of Grab China ~15% of Didi Minority owned affiliates 1. Percen
Slide 13: Rides revenue growth is accelerating and Rider engagement remains strong
Rides revenue growth is accelerating and Rider engagement remains strong 5.7 Gross Bookings Adjusted Net Revenue +20% Average monthly +32% $13.5B $3.0B trips / Rider $11.5B $2.3B Q4 18 Q4 19 Q4 18 Q4 19 1. Growth rates shown in constant currency
Slide 14: We have a roadmap to deliver sustainable, profitable long-term growth
We have a roadmap to deliver sustainable, profitable long-term growth High-potential growth High-value products Sustainable low-cost markets (GDP global rank) & use cases products #3 Japan #12 South Korea $1.2B #4 Germany #13 Spain Uber for Business #8 Italy #29 Argentina Gross Bookings in Q4 Shared
Slide 15: Rides segment is already profitable, with room for margin expansion
Rides segment is already profitable, Take Rate Improvement with room for margin expansion Premium category growth and a focus on profitable shared rides driving healthier revenues Take Rate ANR %GB 25.0% 22.5% 20.4% Q4 18 Q4 19 Long-Term Operating Efficiency Cost structure improvements across the P&
Slide 16: Eats: Following the path of Rides
Eats 22% Of 2019 Gross Bookings Following the path of Rides
Slide 17: Eats operational platform advantages
Eats operational Eats financial platform advantages model advantages Access to world-class Larger average order size marketplace technology Compared to Rides bookings, the Routing, dispatching, dynamic pricing, average Eats order in the US is >50% payments, etc. larger per trip. Outside of the US, i
Slide 18: Eats is following the Rides playbook
Eats is following the Rides playbook Run-rate Gross Bookings ($B) Annual Run Rate Gross Bookings ($B) TAM: $2.8T All countries 10 14 Retail restaurants Eats 10^10 Rides 10^10 Nov’18 Sep’15 7.5 10.5 SAM: $795B 5 7 All countries Home delivery, 2.5 3.5 takeaway & drive- through from retail restaurants
Slide 19: Committed to being #1 or #2 in every market we serve
Committed to being #1 or #2 in every market we serve 2019 investment yielded strong results Strategically exploring alternatives to bolster Eats 25+ Countries where Uber is Take Rate ANR %GB +310bps Acquiring majority stake in Cornershop1 #1 / #2; represents a 9.5% significant majority of Gross Book
Slide 20: US Case Study: Investment Yielding Promising Results
US Case Study: Investment Yielding Promising Results Strengthened Improving Exploring Platform Product Offering Financial Profile Synergies Enhanced restaurant selection Take Rate by over 60% YoY ANR %GB Enabled new delivery modalities +500bps (pickup, BYOC, 3rd party native apps) Launched subscript
Slide 21: On the road to deliver long-term margin targets
On the road to deliver Take Rate Improvement long-term margin targets Cost efficiencies from operational scale benefits and product enhancements; exploring high margin monetization opportunities (e.g. ads) Long-term targets 15% 30% Take Rate Segment Adjusted Operational Efficiency Leveraging benefit
Slide 22: Freight / New Mobility / ATG
Freight / New 1% Of 2019 Gross Bookings Mobility / ATG Bets in transformational industries
Slide 23: Disciplined investment in Freight & New Mobility
Disciplined Freight New Mobility investment Investing in a massive market opportunity to build the most Investing in micromobility and to provide riders with a full set of in Freight & Investing in a massive market opportunity to build the most reliable logistics on-demand network transportation opt
Slide 24: ATG: Strategic investment in autonomy
ATG: Strategic investment in autonomy World class team & partners Advanced technology Clear path to monetization Industry experts in artificial Sophisticated & proprietary Direct exposure to a massive and intelligence & robotics hardware, software, and industry growing TAM leading R&D Highly special
Slide 25: ATG: Strategic partnerships for scale
ATG: Strategic partnerships for scale Separate entity with external funding $1B raised from Toyota, Denso, & Softbank in 2019 with ability to raise future capital Key strategic partners Deep integration with Toyota, Volvo, and Denso for de-risked path to commercialization Toyota team co-located in P
Slide 26: ATG is uniquely well suited for the hybrid period
ATG is uniquely well suited for the hybrid period Drivers Hybrid Automated Driver partners remain the majority of supply until SDVs can offer competitive safety, price, availability, and reliability. ATG has the unique ability to introduce SDVs intelligently and gradually while tly en maintaining li
Slide 27: Path to profitability
Path to profitability
Slide 28: Path to achieving profitability in 2021
Path to achieving profitability in 2021 Driving improvement Adjusted EBITDA, % ANR 25% across the P&L through 2021 Q1 190% Q2 190% Q3 190% Q4 190% 20200% 2021 Invest in high margin and 0% 0% 0% sustainable low cost products Long-term (8%) (16%) Acquire and deepen engagement (17%) with highest value
Slide 29: Sufficient liquidity to reach profitability in 2021
Sufficient liquidity to reach profitability in 2021 Liquidity Position Equity Stakes $11.8B $11.3B $0.3B Other $0.4B ST Investments $1.2B $2.3B $10.9B Unrestricted Cash $8.0B 1. Amounts as of FYE 2019
Slide 30: Non-GAAP reconciliations
Non-GAAP reconciliations
Slide 31: Select Non-GAAP Expenses and Other Line Items (Unaudited)
Select Non-GAAP Expenses and Other Line Items (Unaudited) $ in Millions Three Months Ended Dec 31 ‘18 Mar 31 ‘19 Jun 30 ‘19 Sep 30 ‘19 Dec 31 ‘19 Adjusted Net Revenue $2,644 $2,761 $2,873 $3,533 $3,730 Contra Revenue: Legal, tax, and regulatory reserve changes and settlements & Driver appreciation a
Slide 32: GAAP to Non-GAAP Reconciliation: Q4 '19 (Unaudited)
GAAP to Non-GAAP Reconciliation: Q4 ’19 (Unaudited) $ in Millions Three Months Ended Excess Dec 31 ‘19 Driver Driver Restructuring Depreciation Stock-Based Dec 31 ‘19 GAAP Incentives Referrals Charges & Amortization Compensation Non-GAAP Revenue to Adjusted Net Revenue $4,069 ($322) ($17) - - - $3,7
Slide 33: GAAP to Non-GAAP Reconciliation: Q4 '18 (Unaudited)
GAAP to Non-GAAP Reconciliation: Q4 ’18 (Unaudited) $ in Millions Three Months Ended Asset Legal, Tax, Excess Impairment / and Regulatory Dec 31 ‘18 Driver Driver Loss on Sale Reserves and Depreciation Stock-Based Dec 31 ’18 GAAP Incentives Referrals of Assets Settlements & Amortization Compensation
Slide 34: GAAP to Non-GAAP Reconciliations (Unaudited)
GAAP to Non-GAAP Reconciliations (Unaudited) $ in Millions Three Months Ended Dec 31 ‘18 Mar 31 ‘19 Jun 30 ‘19 Sep 30 ‘19 Dec 31 ‘19 Revenue $2,974 $3,099 $3,166 $3,813 $4,069 Excess Driver incentives (292) (303) (263) (259) (322) Driver referrals (38) (35) (30) (21) (17) Adjusted Net Revenue $2,644
Slide 35: Continued: GAAP to Non-GAAP Reconciliations (Unaudited)
Continued: GAAP to Non-GAAP Reconciliations (Unaudited) $ in Millions Three Months Ended Dec 31 ‘18 Mar 31 ‘19 Jun 30 ‘19 Sep 30 ‘19 Dec 31 ‘19 GAAP Sales and marketing $974 $1,040 $1,222 $1,113 $1,251 Driver referrals (38) (35) (30) (21) (17) Payroll tax on IPO stock-based compensation - - (6) Lega
Slide 36: Adjusted Net Revenue Reconciliation (Unaudited)
Adjusted Net Revenue Reconciliation (Unaudited) $ in Millions Three Months Ended Dec 31 ‘18 Mar 31 ‘19 Jun 30 ‘19 Sep 30 ‘19 Dec 31 ‘19 Adjusted Net Revenue reconciliation: Revenue $2,974 $3,099 $3,166 $3,813 $4,069 Deduct: Excess Driver incentives (292) (303) (263) (259) (322) Driver referrals (38)
Slide 37: Adjusted Net Revenue Reconciliation (Unaudited)
Adjusted Net Revenue Reconciliation (Unaudited) $ in Millions Three Months Ended Dec 31 ‘18 Mar 31 ‘19 Jun 30 ‘19 Sep 30 ‘19 Dec 31 ‘19 Rides Adjusted Net Revenue reconciliation: Rides revenue $2,400 $2,418 $2,376 $2,895 $3,056 Deduct: Excess Driver incentives (26) (12) (10) (12) (7) Driver referral
Slide 38: Adjusted EBITDA Reconciliation (Unaudited)
Adjusted EBITDA Reconciliation (Unaudited) $ in Millions Three Months Ended Dec 31 ‘18 Mar 31 ‘19 Jun 30 ‘19 Sep 30 ‘19 Dec 31 ‘19 Rides $195 $192 $506 $631 $742 Eats (278) (309) (286) (316) (461) Freight (23) (29) (52) (81) (55) Other Bets (38) (42) (70) (72) (67) ATG and Other Technology Programs
Slide 39: Net Income (loss) and Adjusted EBITDA as a % of Revenue
Net Income (loss) and Adjusted EBITDA as a % of Revenue $ in Millions Three Months Ended Dec 31 ‘18 Mar 31 ‘19 Jun 30 ‘19 Sep 30 ‘19 Dec 31 ‘19 Revenue $2,974 $3,099 $3,166 $3,813 $4,069 Net income (loss) attributable to Uber Technologies, Inc. (887) (1,012) (5,236) (1,162) (1,096) Net income (loss)