Slide 1: Uber Technologies, Inc. Q1 2024 Earnings Supplemental Data
Uber Technologies, Inc. May 8, 2024 Q1 2024 Earnings Supplemental Data 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 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: Financial and Operational Highlights
Financial and Operational Highlights Segment Details Condensed Consolidated Financials Non-GAAP Reconciliations Q1 2024 Earnings 4
Slide 5: Operating Metrics
Operating Metrics Figures in Millions, excluding Monthly Trips / MAPC MAPCs 130 137 142 150 149 +15% % Growth YoY 13% 12% 15% 15% 15% MAPCs Growth YoY Monthly Trips / MAPC 5.4 5.6 5.7 5.8 5.8 +6% % Growth YoY 10% 9% 9% 8% 6% Frequency Growth YoY +21% 2,601 2,572 2,441 2,282 Trips 2,124 % Growth YoY
Slide 6: Gross Bookings
Gross Bookings $ in Millions $37,575 $37,651 $35,281 $33,601 $31,408 +21% Gross Bookings Constant Currency Growth YoY Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 19% 16% 21% 22% 20% % Growth YoY 22% 18% 20% 21% 21% % Constant Currency Growth YoY Note 1: We define Gross Bookings as the total dollar value
Slide 7: Revenue
Revenue $ in Millions $9,936 $10,131 $9,230 $9,292 $8,823 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 29% 14% 11% 15% 15% % Growth YoY 33% 17% 10% 13% 15% % Constant Currency Growth YoY Note 1: Refer to page 24 (“Business Model Change Impacts to Revenue”) for more details Q1 2024 Earnings Note 2: See No
Slide 8: Adjusted EBITDA
Adjusted EBITDA $ in Millions 3.7% 3.4% 3.1% +82% $1,382 2.7% $1,283 2.4% $1,092 $916 $761 Adjusted EBITDA Growth YoY Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Adjusted EBITDA Margin as a % of Gross Bookings Note 1: We define Adjusted EBITDA as net income (loss), excluding (i) income (loss) from disco
Slide 9: Segment Details
Financial and Operational Highlights Segment Details Condensed Consolidated Financials Non-GAAP Reconciliations Q1 2024 Earnings 9
Slide 10: Mobility Highlights
Mobility Highlights $ in Millions $19,285 +26% $17,903 $18,670 $14,981 $16,728 Gross Bookings % Constant Currency Growth YoY 43% 28% 30% 28% 26% 30.2% Gross Bookings Constant 28.9% 29.3% 28.3% 28.7% Currency Growth YoY $5,537 $5,633 $4,894 $5,071 $4,330 Revenue % Constant Currency Growth YoY 78% 40%
Slide 11: Delivery Highlights
Delivery Highlights $ in Millions $17,699 +17% $17,011 $15,595 $16,094 $15,026 Gross Bookings % Constant Currency Growth YoY 12% 14% 16% 17% 17% Gross Bookings Constant 20.6% Currency Growth YoY 19.6% 18.2% 18.3% 18.2% Revenue $3,093 $3,057 $2,935 $3,119 $3,214 % Constant Currency Growth YoY 29% 17%
Slide 12: Freight Highlights
Freight Highlights $ in Millions $1,400 $1,279 $1,286 $1,280 $1,284 Revenue % Constant Currency Growth YoY (23%) (30%) (27%) (17%) (8%) ($23) ($14) ($13) ($14) ($21) Adjusted EBITDA Adjusted EBITDA: Segment Adjusted (1.1%) (1.0%) (1.1%) EBITDA Margin as a % of Revenue (1.6%) (1.6%) Q1 2023 Q2 2023 Q
Slide 13: Condensed Consolidated Financials
Financial and Operational Highlights Segment Details Condensed Consolidated Financials Non-GAAP Reconciliations Q1 2024 Earnings 13
Slide 14: Condensed Consolidated Statements of Operations
Three Months Ended March 31, Condensed 2023 2024 Consolidated Revenue $8,823 $10,131 Costs and expenses Statements of Cost of revenue, exclusive of depreciation and amortization shown separately below 5,259 6,168 Operations and support 640 685 Operations Sales and marketing 1,262 917 Research and de
Slide 15: Condensed Consolidated Balance Sheets
As of December 31, As of March 31, Condensed 2023 2024 Consolidated Assets Cash and cash equivalents $4,680 $5,019 Balance Sheets Short-term investments 727 744 Restricted cash and cash equivalents 805 808 (Unaudited) Accounts receivable, net Prepaid expenses and other current assets 3,404 1,681 3,7
Slide 16: Condensed Consolidated Balance Sheets (Continued)
Continued: As of December 31, As of March 31, Condensed 2023 2024 Consolidated Liabilities, redeemable non-controlling interests and equity Accounts payable $790 $833 Balance Sheets Short-term insurance reserves 2,016 2,082 Operating lease liabilities, current 190 184 (Unaudited) Accrued and other c
Slide 17: Summary of liquidity position and equity stakes
Summary of liquidity position and equity stakes Liquidity Position Equity Stakes (Carrying value) Uber’s Ownership Position $5.6B ~12% Other $0.7B $0.1B Joby Aurora $0.9B ~14% Unrestricted cash, ~21% cash equivalents, Grab $1.7B $5.8B and short-term investments ~4% Didi $2.2B ~29% Note 1: Liquidity
Slide 18: Condensed Consolidated Statements of Cash Flows
Three Months Ended March 31, Condensed 2023 2024 Consolidated Cash flows from operating activities Net loss including non-controlling interests ($157) ($663) Statements of Adjustments to reconcile net loss to net cash provided by operating activities: Depreciation and amortization 207 194 Cash Flows
Slide 19: Condensed Consolidated Statements of Cash Flows (Continued)
Continued: Three Months Ended March 31, Condensed 2023 2024 Consolidated Cash flows from investing activities Purchases of property and equipment ($57) ($57) Statements of Purchases of non-marketable equity securities - (174) Cash Flows Purchases of marketable securities (846) (2,029) Proceeds from
Slide 20: Non-GAAP Reconciliations
Financial and Operational Highlights Segment Details Condensed Consolidated Financials Non-GAAP Reconciliations Q1 2024 Earnings 20
Slide 21: Adjusted EBITDA Reconciliation (Unaudited)
Adjusted EBITDA Reconciliation (Unaudited) $ in Millions Three Months Ended Mar 31, ‘23 Jun 30, ‘23 Sep 30, ‘23 Dec 31, ‘23 Mar 31, ‘24 Mobility $1,060 $1,170 $1,287 $1,446 $1,479 Delivery 288 329 413 476 528 Freight (23) (14) (13) (14) (21) Corporate G&A and Platform R&D (564) (569) (595) (625) (60
Slide 22: Non-GAAP Costs and Operating Expenses Reconciliations
Non-GAAP Costs and Operating Expenses Reconciliations (Unaudited) $ in Millions Three Months Ended Mar 31, ‘23 Jun 30, ‘23 Sep 30, ‘23 Dec 31, ‘23 Mar 31, ‘24 Revenue $8,823 $9,230 $9,292 $9,936 $10,131 GAAP Cost of Revenue, excluding D&A 5,259 5,515 5,626 6,057 6,168 Legal, tax, and regulatory rese
Slide 23: Non-GAAP Costs and Operating Expenses Reconciliations (Continued)
Continued: Non-GAAP Costs and Operating Expenses Reconciliations (Unaudited) $ in Millions Three Months Ended Mar 31, ‘23 Jun 30, ‘23 Sep 30, ‘23 Dec 31, ‘23 Mar 31, ‘24 GAAP Sales and marketing $1,262 $1,218 $941 $935 $917 Restructuring and related charges (1) - (1) (1) (1) Stock-based compensation
Slide 24: Business Model Change Impact on Revenue
Business Model Change Impact on Revenue $ in Millions Three Months Ended Mobility Mar 31, ‘23 Jun 30, ‘23 Sep 30, ‘23 Dec 31, ‘23 Mar 31, ‘24 Business model changes since Q1’20 have triggered changes in classification of certain costs, $14,981 $16,728 $17,903 $19,285 $18,670 Gross Bookings including
Slide 25: Business Model Change Impact on Cost of Revenue
Business Model Change Impact on Cost of Revenue $ in Millions Three Months Ended Mar 31, ‘23 Jun 30, ‘23 Sep 30, ‘23 Dec 31, ‘23 Mar 31, ‘24 GAAP Cost of Revenue $5,259 $5,515 $5,626 $6,057 $6,168 Non-GAAP Cost of Revenue1 $5,259 $5,515 $5,639 $6,048 $6,168 Non-GAAP Cost of Revenue (% of Gross Booki
Slide 26: Free Cash Flow Reconciliation
Free Cash Flow Reconciliation $ in Millions Three Months Ended Mar 31, ‘23 Jun 30, ‘23 Sep 30, ‘23 Dec 31, ‘23 Mar 31, ‘24 Free Cash Flow reconciliation: Net cash provided by operating activities 606 1,190 996 823 1,416 Purchases of property and equipment (57) (50) (61) (55) (57) Free Cash Flow $549