Slide 1: Uber Technologies, Inc. Q3 2021 Earnings Supplemental Data
Uber Technologies, Inc. Q3 2021 Earnings Supplemental Data November 4, 2021 1 Q3 2021 Earnings
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, Platform Highlights, Segment Details
Business Highlights Platform Highlights Segment Details Condensed Consolidated Financials Non-GAAP Reconciliations Q3 2021 Earnings 4
Slide 5: Three key takeaways from Q3
Three key takeaways from Q3 01. 02. 03. Recovery back on track, Supply recovery Delivering on profitability Uber emerging stronger progressing well commitments (Pages 6-8) (Pages 9-11) (Pages 12-13) Q3 2021 Earnings 5
Slide 6: Uber Gross Bookings reached an all-time high in October, up 45% vs. 2019
Uber Gross Bookings reached an all-time high in October, up 45% vs. 2019 Recovery back on track; GBs +11% MoM Global Vaccine COVID-19 distribution Delta variant outbreak starts impacts GBs ~25% YoY Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct '20 ’20 '20 '2
Slide 7: Aggregate Gross Bookings 33% higher than October 2019 in NYC, London, Paris, and Sydney
Aggregate Gross Bookings 33% higher than October 2019 in NYC, London, Paris, and Sydney Reopening Reopening 3.6x New York vs. Oct ‘19 London 1.0x vs. Oct ‘19 City 0.9x Mobility steadily improving post 2.5x Both Mobility and vs. Oct ‘19 vs. Oct ‘19 Delivery growing reopening while post reopening Deli
Slide 8: US recovery gaining traction post Labor Day, with airport trips rapidly returning
US recovery gaining traction post Labor Day, with airport trips rapidly returning US airport trips increased significantly in recent weeks, US Mobility Trips growing over 20% from the beginning of September, and 130% set new post-COVID highs. US airport trip growth accelerated 120% across all consum
Slide 9: Uber's platform supply growth efforts showing results in the US
Uber’s platform supply growth efforts showing results in the US 200% Supply growth has been a key 150% priority through 2021. We were focused on not only reviving driver supply, but also growing our courier base, to better position Uber’s platform for future demand. 100% In all, Uber’s monthly activ
Slide 10: US Mobility marketplace rapidly normalizing as drivers return
US Mobility marketplace rapidly normalizing as drivers return 56% 4.2 min New York Uber’s consumer experience in the US is rapidly normalizing as a result of City 2.3 our decisive and early investments in 1.9 min min driver supply growth. +52% Active 18% Drivers since 12% Active US drivers are up ov
Slide 11: US Delivery courier supply also up significantly
US Delivery courier supply also up significantly US Eats courier growth efforts Since January +80% active couriers have focused on improving onboarding and acquisition Improving marketing acquisition Revamping onboarding process Combined onboarding • Accelerated courier onboarding • Migrate Postmate
Slide 12: Mobility margins rebounded to 2019 highs
Mobility margins rebounded to 2019 highs 25.9% 23.0% 22.6% 22.7% 23.1% 21.7% 21.5% 21.1% $12,554 $13,512 18.7% Disciplined execution drove $10,874 Mobility’s Q3’21 Adjusted $9,883 $8,640 EBITDA margins (as % of Gross $5,905 $6,789 $6,773 Bookings) above Q3’19 levels. This margin improvement is $3,04
Slide 13: Delivery near breakeven in Q3
Delivery near breakeven in Q3 54% YoY 47% YoY Delivery Adjusted EBITDA improved nearly $150M QoQ and nearly reached breakeven in Q3. Gross 133% YoY 134% YoY The US & Canada delivered an Bookings outstanding quarter, with sequential 48% YoY 106% YoY topline growth and category position gains, while i
Slide 14: Business Highlights, Platform Highlights, Segment Details
Business Highlights Platform Highlights Segment Details Condensed Consolidated Financials Non-GAAP Reconciliations Q3 2021 Earnings 14
Slide 15: Operating Metrics
Operating Metrics In Millions +40% 109 98 101 93 78 MAPCs MAPCs Growth YoY Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 +39% 1,641 1,443 1,447 1,511 1,184 Trips Trips Growth YoY Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Monthly Trips / MAPC 5.1 5.2 4.9 5.0 5.0 Note 1: MAPCs is the number of unique consumer
Slide 16: Gross Bookings
Gross Bookings $ in Millions $23,113 $21,900 $19,536 +6% $17,152 $14,745 Gross Bookings Growth QoQ Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 (10%) (5%) 24% 114% 57% % Growth YoY (8%) (4%) 22% 104% 53% % Constant Currency Growth YoY Note 1: We define Gross Bookings as the total dollar value, including
Slide 17: Revenue
Revenue $ in Millions 21.0% ** 19.1% 18.5% 17.9% 14.9%* $4,845 ** $3,929 $3,165 $2,813 $2,903* Take Rate Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 (21%) (16%) (11%) 105% 72% % Growth YoY (20%) (15%) (11%) 95% 69% % Constant Currency Growth YoY *Q1’21 Revenue of $2,903 million includes the impact of a
Slide 18: Adjusted EBITDA
Adjusted EBITDA $ in Millions +$633M $8 $8 0% ($359) ($454) YoY improvement in ($509) (1.8%) Adjusted EBITDA ($625) (2.3%) (2.6%) (4.2%) Q3 2020 Q4 2020 Q1 2021 Q2 2021 Q3 2021 Adjusted EBITDA Margin as a % of Gross Bookings Note 1: We define Adjusted EBITDA as net income (loss), excluding (i) incom
Slide 19: Business Highlights, Platform Highlights, Segment Details
Business Highlights Platform Highlights Segment Details Condensed Consolidated Financials Non-GAAP Reconciliations Q3 2021 Earnings 19
Slide 20: Mobility Highlights
Mobility Highlights $ in Millions $9,883 +14% $8,640 $6,789 $6,773 Gross $5,905 Bookings % Constant Currency Growth YoY (50%) (47%) (36%) 174% 63% QoQ improvement in 23.1% 21.7% 18.7% 22.3%* Gross Bookings 12.6% * $2,205 * $1,471 $1,617 $1,364 Revenue $853 * % Constant Currency Growth YoY (51%) (51%
Slide 21: Delivery Highlights
Delivery Highlights $ in Millions +92% $12,461 $12,912 $12,828 $10,050 Gross $8,550 Bookings % Constant Currency Growth YoY 135% 128% 157% 75% 46% Revenue Growth YoY at Constant Currency 17.4% 13.3% 13.5% 14.0% 15.2% Revenue % Constant Currency Growth YoY $1,136 187% $1,356 220% $1,741 215% $1,964 1
Slide 22: Freight Highlights
Freight Highlights $ in Millions $288 $313 $301 $348 $402 +40% Revenue Growth YoY Revenue at Constant Currency % Constant Currency Growth YoY 32% 43% 51% 65% 40% ($73) ($41) ($29) ($41) ($35) +3.1 pts Adjusted Improvement in Adj. EBITDA (13.1%) (9.6%) (11.8%) (8.7%) EBITDA Margin as a % (25.2%) of G
Slide 23: Business Highlights, Platform Highlights, Segment Details
Business Highlights Platform Highlights Segment Details Condensed Consolidated Financials Non-GAAP Reconciliations Q3 2021 Earnings 23
Slide 24: Condensed Consolidated Statements of Operations
Condensed Three Months Ended September 30, Nine Months Ended September 30, 2020 2021 2020 2021 Consolidated Revenue $2,813 $4,845 $7,974 $11,677 Costs and expenses Statements of Cost of revenue, exclusive of depreciation and amortization shown separately below 1,298 2,438 3,713 6,247 Operations and
Slide 25: Condensed Consolidated Balance Sheets
Condensed As of December 31 As of September 30 2020 2021 Consolidated Assets Cash and cash equivalents $5,647 $6,482 Balance Sheets Short-term investments 1,180 - Restricted cash and cash equivalents 250 414 Accounts receivable, net 1,073 1,333 (Unaudited) Prepaid expenses and other current assets A
Slide 26: Condensed Consolidated Balance Sheets (Continued)
Continued: Condensed As of December 31 As of September 30 2020 2021 Consolidated Liabilities, redeemable non-controlling interests and equity Accounts payable $235 $310 Short-term insurance reserves Balance Sheets 1,243 1,379 Operating lease liabilities, current 175 168 Accrued and other current lia
Slide 27: Summary of liquidity position and equity stakes
Summary of liquidity position and equity stakes Liquidity Position Equity Stakes (Carrying value) Uber’s Ownership Position $13.1B Other $0.3B Joby $0.3B v ~11% Aurora $2.3B ~16% ~25% Grab $4.1B ~29% Yandex $0.9B ~7% Zomato $1.1B Unrestricted ~4% $6.5B Cash Didi $4.1B ~31% Note 1: Liquidity position
Slide 28: Condensed Consolidated Statements of Cash Flows
Condensed Nine Months Ended September 30, 2020 2021 Consolidated Cash flows from operating activities Net loss including non-controlling interests ($5,826) ($1,449) Statements of Adjustments to reconcile net loss to net cash used in operating activities: Depreciation and amortization 395 656 Bad deb
Slide 29: Condensed Consolidated Statements of Cash Flows (Continued)
Continued: Condensed Nine Months Ended September 30, 2020 2021 Consolidated Cash flows from investing activities Purchases of property and equipment (493) (218) Purchases of marketable securities Statements of (1,493) (1,113) Purchases of non-marketable equity securities (10) (857) Purchase of notes
Slide 30: Legacy auto insurance transfer
Legacy auto insurance transfer $ in Millions Summary Significant cash movements Q3’21 Overview Return of collateral +$724 • James River (“JR”) returned $724 million of Collateral held by insurer to trust (presented in Premium received +$345 restricted cash) Other transfer related cash impacts during
Slide 31: Business Highlights, Platform Highlights, Segment Details
Business Highlights Platform Highlights Segment Details Condensed Consolidated Financials Non-GAAP Reconciliations Q3 2021 Earnings 31
Slide 32: Adjusted EBITDA Reconciliation (Unaudited)
Adjusted EBITDA Reconciliation (Unaudited) $ in Millions Three Months Ended Sep 30, '20 Dec 31, '20 Mar 31, '21 Jun 30, '21 Sep 30, '21 Mobility $245 $293 $298 $179 $544 Delivery (183) (145) (200) (161) (12) Freight (73) (41) (29) (41) (35) All Other (104) (72) (11) - - Corporate G&A and Platform R&
Slide 33: GAAP to Non-GAAP Reconciliations (Unaudited)
GAAP to Non-GAAP Reconciliations (Unaudited) $ in Millions Three Months Ended Sept 30, ‘20 Dec 31, ‘20 Mar 31, ‘21 Jun 30, ‘21 Sept 30, ‘21 GAAP Cost of Revenue 1,298 1,441 1,710 2,099 2,438 COVID-19 response initiatives (16) (13) (11) (6) - Acquisition, financing, and divestitures related expenses
Slide 34: GAAP to Non-GAAP Reconciliations (Unaudited) Continued
Continued: GAAP to Non-GAAP Reconciliations (Unaudited) $ in Millions Three Months Ended Sept 30 ‘20 Dec 31 ‘20 Mar 31 ‘21 Jun 30 ‘21 Sept 30 ‘21 GAAP Sales and marketing $924 $1,038 $1,103 $1,256 $1,168 Restructuring and related charges - 1 - - - Acquisition, financing and divestitures related expe
Slide 35: Reconciliations of Non-GAAP Financial Measures
Reconciliations of Non-GAAP Financial Measures $ in Millions Three Months Ended Sep 30 '20 Dec 31 '20 Mar 31 '21 Jun 30 '21 Sep 30 '21 Revenue Excluding UK Accrual reconciliation Revenue 2,813 3,165 2,903 3,929 4,845 Add back: UK Accrual - - 600 - (123) Revenue Excluding UK Accrual $2,813 $3,165 $3,
Slide 36: Delivery business model change impact on Cost of Revenue
Delivery business model change impact on Cost of Revenue $ in Millions Three Months Ended Sep 30 '20 Dec 31 '20 Mar 31 '21 Jun 30 '21 Sep 30 '21 Non-GAAP Cost of Revenue $1,281 $1,428 $1,699 $2,093 $2,333 Delivery business model change impact* $122 $176 $390 $560 $697 Non-GAAP Cost of Revenue (% of