Slide 1: Uber Technologies, Inc. Q2 2021 Earnings Supplemental Data
Uber Technologies, Inc. Q2 2021 Earnings Supplemental Data August 4, 2021 Q2 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 culture, financial performance, investments in new products or regarding our future business expectations, which involve risks offerings, our ability to attract drivers, consumers and other and uncertainties. Actual res
Slide 4: Business Highlights, Platform Highlights, Segment Details
Business Highlights Platform Highlights Segment Details Condensed Consolidated Financial Statements Non-GAAP Reconciliations Q2 2021 Earnings
Slide 5: Three key takeaways from Q2
Three key takeaways from Q2 01. 02. 03. Uber’s platform Marketplace balance Expect significant getting stronger with expected to operating leverage to the reopening normalize over Q3 drive Adjusted EBITDA (Pages 6-9) (Pages 10-12) profitability by Q4 (Pages 13-16) Q2 2021 Earnings 5
Slide 6: Gross bookings continued to grow despite Delta variant slowdown
Gross bookings continued to grow despite Delta variant related slowdown in recovery in July Delta and other variants force Global Vaccine tosome markets lockdown but GBs COVID-19 distribution impacts to Uber outbreak starts relatively muted ~45% vs. 2019 GBs ~25% YoY Jan Feb Mar Apr May Jun Jul Aug
Slide 7: Aggregate Gross Bookings more than 30% higher than July 2019 in key cities
Aggregate Gross Bookings more than 30% higher than July 2019 in Sydney, NYC, London and Paris Reopening New York Reopening 1.0x 3.6x City vs. Jul’19 London vs. Jul’19 Both Mobility and Mobility recovering 3.2x Delivery growing 0.9x and Delivery vs. Jul’19 vs. Jul’19 post reopening holding gains Apr’
Slide 8: Uber's cross-platform usage expanding as Mobility recovers
Uber’s cross-platform usage expanding as Mobility recovers Pass members already drive 25% of Delivery Gross Bookings, and we see significant upside to Gross Bookings (% of total) from Mobility Pass adoption. Cross-platform consumers* active on both & Delivery cross-platform consumers 50% Mobility an
Slide 9: Cross-platform consumer acquisition increasingly benefitting all parts of our business
Cross-platform consumer acquisition increasingly benefitting all parts of our business The Uber super app is a powerful consumer …while Delivery is starting to drive acquisition funnel for Delivery… significant expansion for Mobility… % of first time Delivery orders originating from the Rides app %
Slide 10: Significant progress made in improving US driver availability
Significant progress made in improving US driver availability, particularly in states further along the reopening curve US Mobility drivers up 50%+ from February Wait times improved across the US, with to July strong improvements in FL, TX, AZ, and GA Monthly Active Drivers +50% 0 -1 Minutes improve
Slide 11: Expect driver recovery to gain significant momentum in Q3 and Q4
Expect driver recovery to Driver intent to return rapidly improving Q: When do you plan on driving with Uber again? gain significant 2% 2% momentum in 6% 4% 4% Q3 and Q4 29% 5% Nearly 90K inactive drivers 5% 8% 8% responded to our survey 10% in June, up from 50K that 35% 59% responded in April (both
Slide 12: Consumers continue to prefer ridesharing to other modes of transportation
Consumers continue to prefer ridesharing to other modes of transportation We do not take this for granted - Rider experience remains far from optimal - and we are committed to improving marketplace balance over the next few months New York City rideshare trip recovery vs. taxi and MTA* Feb'20 Mar'20
Slide 13: Uber Gross Bookings at all time highs; expect Adjusted EBITDA profitability by Q4
Uber Gross Gross Bookings ($M), % Constant Currency Growth YoY 348 +104% YoY Bookings at +22% YoY +39% vs. Q2’19 500 1,000 800 +33% vs. Q1’19 500 500 300 30% (4%) 132 37% 32% 10% 800 (8%) all time highs; 41% 4,374 12,912 3,071 3,386 3,658 4,683 800 8,550 (32%) 10,050 12,461 expect to deliver 11,446
Slide 14: Path to profitability: Q3 Adjusted EBITDA bridge
Path to profitability: Expect significant improvement in Q3 and Adjusted EBITDA profitability by Q4 Potential Adjusted EBITDA levers Illustrative bridge from Q2 (Figures in USD million) Adjusted EBITDA to Q3 Adjusted EBITDA outlook, Q2 Adjusted EBITDA ($509) based on our July observations. Our base
Slide 15: Expect mobility profitability to expand significantly as driver revival investments fade
Expect mobility profitability to expand significantly as driver revival investments fade Imbalanced Balanced 63% 67% Major international markets delivering strong Mobility 59% EBITDA margins in June 46% In the US, Mobility take rates in balanced markets reverting 16% 19% to pre-COVID levels 10% (4%)
Slide 16: Delivery growing faster than peers and near breakeven ex-US & Canada
Uber Delivery ex-US & Delivery ex-US & Uber’s Delivery business is the largest * Canada is growing Canada near on-demand food delivery platform in the world (excluding China). Uber has a much faster than peers breakeven in Q2 category leading position in 8 of our Q2’21 GB/GMV/ Q2’21 Adjusted EBITDA
Slide 17: Healthy liquidity position, and investments in leading Mobility and Delivery assets
Healthy liquidity position, and investments in leading Mobility and Delivery assets Liquidity Position Equity Stakes (Carrying value) Uber’s Ownership Position $14.9B ~11% Other $0.6 Yandex $1.0 Joby $0.2 ~16% Aurora $2.1 Announced intention to ~25% become publicly listed $5B Grab $3.6 ~33% Zomato $
Slide 18: Business Highlights, Platform Highlights, Segment Details
Business Highlights Platform Highlights Segment Details Condensed Consolidated Financial Statements Non-GAAP Reconciliations Q2 2021 Earnings
Slide 19: Operating Metrics
Operating Metrics In Millions +84% MAPCs 98 101 93 78 55 MAPCs Growth YoY Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 +105% Trips 1,443 1,447 1,511 1,184 737 Trips Growth YoY Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Monthly Trips / MAPC 4.5 5.1 5.2 4.9 5.0 Note 1: MAPCs is the number of unique consumers
Slide 20: Gross Bookings
Gross Bookings $ in Millions $14,745 $17,152 $19,536 $21,900 +12% Gross Bookings Growth QoQ $10,224 Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 (35%) (10%) (5%) 24% 114% % Growth YoY (32%) (8%) (4%) 22% 104% % Constant Currency Growth YoY Note 1: We define Gross Bookings as the total dollar value, inclu
Slide 21: Revenue
Revenue $ in Millions 18.7% 19.1% 18.5% 17.9%* 17.9% 14.9% +12% 14.9% $3,929 $3,503* $3,165 $2,813 $2,903 QoQ improvement $1,913 Revenue, Excluding UK Accrual Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 (34%) (21%) (16%) (11%) 105% % Growth YoY Take Rate Take Rate Excluding (38%)** (20%) (15%) (11%) 95%
Slide 22: Adjusted EBITDA
Adjusted EBITDA $ in Millions ($454) ($359) ($509) +39% YoY improvement in ($625) Adjusted EBITDA (14.3%) (12.4%) (13%) (13.0%) ($837) (22.2%) (43.8%) Q2 2020 Q3 2020 Q4 2020 Q1 2021 Q2 2021 Adjusted EBITDA Margin as a % of Revenue Note 1: We define Adjusted EBITDA as net income (loss), excluding (i
Slide 23: Business Highlights, Platform Highlights, Segment Details
Business Highlights Platform Highlights Segment Details Condensed Consolidated Financial Statements Non-GAAP Reconciliations Q2 2021 Earnings
Slide 24: Mobility Highlights
Mobility Highlights $ in Millions $8,640 $6,789 $6,773 +28% $5,905 Gross $3,046 Bookings % Constant Currency Growth YoY (73%) (50%) (47%) (36%) 174% 25.9% 23.1% 21.7% 21.5%** 18.7% QoQ improvement in Gross Bookings 12.6% 12.6% $1,617 $1,364 $1,471 $1,453** $788 $853 Revenue % Constant Currency Growt
Slide 25: Delivery Highlights
Delivery Highlights $ in Millions $12,461 $12,912 +106% $10,050 Gross $6,961 $8,550 Bookings % Constant Currency Growth YoY 113% 135% 128% 157% 75% Revenue Growth YoY at 15.2% 14.0% Constant Currency 13.3% 13.5% 12.7% +3.3 pts $1,741 $1,964 $1,136 $1,356 $885 Revenue % Constant Currency Growth YoY 1
Slide 26: Business Highlights, Platform Highlights, Segment Details
Business Highlights Platform Highlights Segment Details Condensed Consolidated Financial Statements Non-GAAP Reconciliations Q2 2021 Earnings
Slide 27: Condensed Consolidated Statements of Operations
Three Months Ended June 30, Six Months Ended June 30, Condensed Revenue 2020 $1,913 2021 $3,929 2020 $5,161 2021 $6,832 Consolidated Costs and expenses Cost of revenue, exclusive of depreciation and amortization shown separately below 924 2,099 2,415 3,809 Statements of Operations and support 582 43
Slide 28: Condensed Consolidated Balance Sheets
As of December 31, As of June 30, Condensed Assets 2020 2021 Consolidated Cash and cash equivalents $5,647 $4,443 Short-term investments 1,180 560 Balance Restricted cash and cash equivalents 250 324 Accounts receivable, net 1,073 1,201 Prepaid expenses and other current assets 1,215 1,255 Sheets As
Slide 29: Condensed Consolidated Balance Sheets (continued)
Continued: As of December 31, As of June 30, Condensed Liabilities, redeemable non-controlling interests and equity 2020 2021 Consolidated Accounts payable Short-term insurance reserves $235 1,243 $429 1,221 Balance Operating lease liabilities, current 175 177 Accrued and other current liabilities 5
Slide 30: Condensed Consolidated Statements of Cash Flows
Six Months Ended June 30, Condensed Cash flows from operating activities As of Dec 31 2020 2021 Consolidated Net income (loss) including non-controlling interests Adjustments to reconcile net income (loss) to net cash used in operating activities: ($4,718) $990 Statements of Depreciation and amortiz
Slide 31: Condensed Consolidated Statements of Cash Flows (continued)
Continued: Six Months Ended June 30, Condensed Cash flows from investing activities As of Dec 31 2020 2021 Consolidated Purchases of property and equipment Purchases of marketable securities (362) (1,012) (128) (526) Statements of Purchases of non-marketable equity securities Purchase of note receiv
Slide 32: Business Highlights, Platform Highlights, Segment Details
Business Highlights Platform Highlights Segment Details Condensed Consolidated Financial Statements Non-GAAP Reconciliations Q2 2021 Earnings
Slide 33: Adjusted EBITDA Reconciliation (Unaudited)
Adjusted EBITDA Reconciliation (Unaudited) $ in Millions Three Months Ended Jun 30, ’20 Sept 30, ‘20 Dec 31, ‘20 Mar 31, ‘21 Jun 30, ‘21 Mobility $50 $245 $293 $298 $179 Delivery (232) (183) (145) (200) (161) Freight (49) (73) (41) (29) (41) All Other (114) (104) (72) (11) - Corporate G&A and Platfo
Slide 34: GAAP to Non-GAAP Reconciliations (Unaudited)
GAAP to Non-GAAP Reconciliations (Unaudited) $ in Millions Three Months Ended Jun 30, ‘20 Sept 30, ‘20 Dec 31, ‘20 Mar 31, ‘21 Jun 30, ‘21 GAAP Cost of Revenue 924 1,298 1,441 1,710 2,099 Goodwill and asset impairment/loss on sale of assets (10) - - - - COVID-19 response initiatives (22) (16) (13) (
Slide 35: GAAP to Non-GAAP Reconciliations (Unaudited) continued
Continued: GAAP to Non-GAAP Reconciliations (Unaudited) $ in Millions Three Months Ended Jun 30 ‘20 Sept 30 ‘20 Dec 31 ‘20 Mar 31 ‘21 Jun 30 ‘21 GAAP Sales and marketing $736 $924 $1,038 $1,103 $1,256 Restructuring and related charges (22) - 1 - - Acquisition, financing and divestitures related expe
Slide 36: 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 Jun 30 ‘20 Sep 30 ‘20 Dec 31 ‘20 Mar 31 ‘21 Jun 30 ‘21 Revenue 1,913 2,813 3,165 2,903 3,929 Net income (loss) attributable to Uber Technologies, Inc. (1,775) (1,089) (968) (108) 1,144 Net income (loss) as a per
Slide 37: Reconciliations of Non-GAAP Financial Measures
Reconciliations of Non-GAAP Financial Measures ($ in Millions) Three Months Ended Jun 30 ‘20 Sep 30 ‘20 Dec 31 ‘20 Mar 31 ‘21 Jun 30 ‘21 Revenue Excluding UK Accrual reconciliation Revenue 1,913 2,813 3,165 2,903 3,929 Add back: UK Accrual - - - 600 - Revenue Excluding UK Accrual $1,913 $2,813 $3,16