Slide 1: Uber Technologies, Inc. Q2 2023 Earnings Supplemental Data
Uber Technologies, Inc. August 1, 2023 Q2 2023 Earnings Supplemental Data
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 relationships with drivers and couriers, and the impact of the regarding our future business expectations, which involve risks global economy, including rising inflation and interest rates. In and uncertainties. Actual
Slide 4: Platform and Business Highlights
Platform and Business Highlights Financial and Operational Highlights Segment Details Condensed Consolidated Financials Non-GAAP Reconciliations Q2 2023 Earnings 4
Slide 5: Platform Highlights
Platform Highlights Mobility New Products Advertising Membership Portfolio Reserve UberX Share Taxi Moto Auto Carshare Launched new Uber Reserve features and Announced video ads on Uber, Uber Eats, Launched Uber One in Costa Rica, announced market expansions across Hailables, Drizly and in-car table
Slide 6: Higher new product adoption driving overall growth in Mobility engagement
Higher new product adoption driving overall growth in Mobility engagement Q2 2023 Monthly Trips / Rider HCV Moto 9.6 Rider who uses… UberX Share Riders who took at least one Moto trip in a given month had 1.8x greater Taxi engagement than average. Auto Any Mobility Product 5.4 Reserve 0 3.5 7 10.5 1
Slide 7: Strong progress on Grocery and New Verticals product experience contributing to Delivery growth
Strong progress on Grocery and New Verticals product experience contributing to Delivery growth Launched and expanded retail-specific $6B features including catalog enhancements, Run-rate gross revamped replacements, feed enhancements bookings, Q2 2023 (e.g. launchpad logos), courier pick and pack,
Slide 8: Achieved GAAP operating profitability in Q2 2023 with increasing operating leverage
Achieved GAAP operating profitability in Q2 2023 with increasing operating leverage We grew quarterly Gross Bookings by $4.5 billion YoY We remain focused on scaling GAAP operating while reducing GAAP operating costs by $0.2 billion profitability GAAP Operating Expenses as a Percentage of Gross Book
Slide 9: Financial and Operational Highlights
Platform and Business Highlights Financial and Operational Highlights Segment Details Condensed Consolidated Financials Non-GAAP Reconciliations Q2 2023 Earnings 9
Slide 10: Operating Metrics
Operating Metrics In Millions +12% 137 131 130 122 124 MAPCs MAPCs Growth YoY Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Trips 1,872 1,953 2,104 2,124 2,282 +22% Trips Growth YoY Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Monthly Trips / MAPC 5.1 5.3 5.4 5.4 5.6 Note 1: MAPCs is the number of unique consu
Slide 11: Gross Bookings
Gross Bookings $ in Millions $33,601 $30,749 $31,408 $29,078 $29,119 +18% Gross Bookings Constant Currency Growth YoY Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 33% 26% 19% 19% 16% % Growth YoY 36% 32% 26% 22% 18% % Constant Currency Growth YoY Note 1: We define Gross Bookings as the total dollar value
Slide 12: Revenue
Revenue $ in Millions $9,230 $8,607 $8,823 $8,073 $8,343 +17% Revenue Constant Currency Growth YoY Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 105% 72% 49% 29% 14% % Growth YoY 111% 81% 59% 33% 17% % Constant Currency Growth YoY Note 1: a) Q2’22 Revenue includes a $1.7 billion net benefit related to bus
Slide 13: Adjusted EBITDA
Adjusted EBITDA $ in Millions 2.2% 2.4% 2.7% $916 +$552M 1.8% YoY improvement in $761 $665 Adjusted EBITDA 1.3% $516 $364 Q2 2022 Q3 2022 Q4 2022 Q1 2023 Q2 2023 Adjusted EBITDA Margin as a % of Gross Bookings Note 1: We define Adjusted EBITDA as net income (loss), excluding (i) income (loss) from d
Slide 14: Segment Details
Platform and Business Highlights Financial and Operational Highlights Segment Details Condensed Consolidated Financials Non-GAAP Reconciliations Q2 2023 Earnings 14
Slide 15: Mobility Highlights
Mobility Highlights $ in Millions +28% $16,728 $13,364 $13,684 $14,894 $14,981 Gross Bookings % Constant Currency Growth YoY 57% 45% 37% 43% 28% 28.9% 29.3% Gross Bookings Constant 27.9% 26.6% 27.8% Currency Growth YoY $4,894 $4,136 $4,330 $3,553 $3,822 Revenue % Constant Currency Growth YoY 126% 83
Slide 16: Delivery Highlights
Delivery Highlights $ in Millions $15,595 +$230M $14,315 $15,026 $13,876 $13,684 Gross Bookings % Constant Currency Growth YoY 12% 13% 14% 12% 14% YoY improvement in Adjusted EBITDA 20.2% 20.5% 20.6% 19.4% 19.6% Revenue $2,931 $3,093 $3,057 % Constant Currency $2,688 $2,770 Growth YoY 43% 33% 33% 29
Slide 17: Freight Highlights
Freight Highlights $ in Millions $1,832 $1,751 $1,540 $1,400 $1,279 Revenue % Constant Currency Growth YoY 427% 336% 43% (23%) (30%) $5 $1 ($8) ($23) ($14) Adjusted EBITDA 0.3% 0.1% (0.5%) (1.1%) (1.6%) Adjusted EBITDA: Segment Adjusted EBITDA Margin as a % of Revenue Q2 2022 Q3 2022 Q4 2022 Q1 2023
Slide 18: Condensed Consolidated Financials
Platform and Business Highlights Financial and Operational Highlights Segment Details Condensed Consolidated Financials Non-GAAP Reconciliations Q2 2023 Earnings 18
Slide 19: Condensed Consolidated Statements of Operations
Three Months Ended June 30, Six Months Ended June 30, Condensed 2022 2023 2022 2023 Consolidated Revenue $8,073 $9,230 $14,927 $18,053 Costs and expenses Statements of Cost of revenue, exclusive of depreciation and amortization shown separately below 5,153 5,515 9,179 10,774 Operations and support 6
Slide 20: Condensed Consolidated Balance Sheets
As of December 31, As of June 30, Condensed 2022 2023 Consolidated Assets Cash and cash equivalents $4,208 $4,995 Balance Sheets Short-term investments 103 538 Restricted cash and cash equivalents 680 909 (Unaudited) Accounts receivable, net Prepaid expenses and other current assets 2,779 1,479 2,57
Slide 21: Condensed Consolidated Balance Sheets (Continued)
Continued: As of December 31, As of June 30, Condensed 2022 2023 Consolidated Liabilities, redeemable non-controlling interests and equity Accounts payable $728 $694 Balance Sheets Short-term insurance reserves 1,692 1,729 Operating lease liabilities, current 201 179 (Unaudited) Accrued and other cu
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 $5.1B Other $0.4B ~11% Joby $0.3B Aurora $0.9B ~14% Unrestricted cash, $5.5B cash equivalents, ~26% and short-term Grab $1.8B investments ~4% Didi $1.7B ~31% Note 1: Liquidity
Slide 23: Condensed Consolidated Statements of Cash Flows
Three Months Ended June 30, Six Months Ended June 30, Condensed Cash flows from operating activities 2022 2023 2022 2023 Consolidated Net income (loss) including non-controlling interests Adjustments to reconcile net income (loss) to net cash provided by operating activities: ($2,616) $394 ($8,534)
Slide 24: Condensed Consolidated Statements of Cash Flows (Continued)
Continued: Three Months Ended June 30, Six Months Ended June 30, Condensed 2022 2023 2022 2023 Consolidated Cash flows from investing activities Purchases of property and equipment ($57) ($50) ($119) ($107) Statements of Purchases of non-marketable equity securities (1) - (14) - Purchases of marketa
Slide 25: Non-GAAP Reconciliations
Platform and Business Highlights Financial and Operational Highlights Segment Details Condensed Consolidated Financials Non-GAAP Reconciliations Q2 2023 Earnings 25
Slide 26: Adjusted EBITDA Reconciliation
Adjusted EBITDA Reconciliation (Unaudited) $ in Millions Three Months Ended Jun 30, ‘22 Sep 30, ‘22 Dec 31, ‘22 Mar 31, ‘23 Jun 30, ‘23 Mobility $771 $898 $1,012 $1,060 $1,170 Delivery 99 181 241 288 329 Freight 5 1 (8) (23) (14) Corporate G&A and Platform R&D (511) (564) (580) (564) (569) Adjusted
Slide 27: Non-GAAP Costs and Operating Expenses Reconciliations
Non-GAAP Costs and Operating Expenses Reconciliations (Unaudited) $ in Millions Three Months Ended Jun 30, ‘22 Sep 30, ‘22 Dec 31, ‘22 Mar 31, ‘23 Jun 30, ‘23 Revenue $8,073 $8,343 $8,607 $8,823 $9,230 GAAP Cost of Revenue, excluding D&A 5,153 5,173 5,307 5,259 5,515 Acquisition, financing, and dive
Slide 28: Non-GAAP Costs and Operating Expenses Reconciliations (Continued)
Continued: Non-GAAP Costs and Operating Expenses Reconciliations (Unaudited) $ in Millions Three Months Ended Jun 30, ‘22 Sep 30, ‘22 Dec 31, ‘22 Mar 31, ‘23 Jun 30, ‘23 GAAP Sales and marketing $1,218 $1,153 $1,122 $1,262 $1,218 Restructuring and related charges - - - (1) - Stock-based compensation
Slide 29: Revenue Excluding UK Accrual Reconciliations
Revenue Excluding UK Accrual Reconciliations $ in Millions Three Months Ended Jun 30, ‘22 Sep 30, ‘22 Dec 31, ‘22 Mar 31, ‘23 Jun 30, ‘23 Revenue Excluding UK Accrual reconciliation Revenue 8,073 8,343 8,607 8,823 9,230 Add back: UK Accrual 97 - - - - Revenue Excluding UK Accrual $8,170 $8,343 $8,60
Slide 30: Business Model Change Impact on Revenue
Business Model Change Impact on Revenue $ in Millions Three Months Ended Mobility Jun 30, ‘22 Sep 30, ‘22 Dec 31, ‘22 Mar 31, ‘23 Jun 30, ‘23 Gross Bookings $13,364 $13,684 $14,894 $14,981 $16,728 Revenue $3,553 $3,822 $4,136 $4,330 $4,894 Reported Take Rate 26.6% 27.9% 27.8% 28.9% 29.3% Business Mo
Slide 31: Business Model Change Impact on Cost of Revenue
Business Model Change Impact on Cost of Revenue $ in Millions Three Months Ended Jun 30, ‘22 Sep 30, ‘22 Dec 31, ‘22 Mar 31, ‘23 Jun 30, ‘23 GAAP Cost of Revenue $5,153 $5,173 $5,307 $5,259 $5,515 Non-GAAP Cost of Revenue1 $5,153 $5,168 $5,307 $5,259 $5,515 Non-GAAP Cost of Revenue (% of Gross Booki
Slide 32: Free Cash Flow Reconciliation
Free Cash Flow Reconciliation $ in Millions Three Months Ended Jun 30, ‘22 Sep 30, ‘22 Dec 31, ‘22 Mar 31, ‘23 Jun 30, ‘23 Free Cash Flow reconciliation: Net cash provided by (used in) operating activities 439 432 (244) 606 1,190 Purchases of property and equipment (57) (74) (59) (57) (50) Free Cash