Uber Technologies, Inc. · NYSE:UBER
Uber Technologies — Q1 2019 Earnings Presentation
32 slides from Uber Technologies's earnings presentation, May 2019
Slide 1: Uber Technologies, Inc. Q1 2019 Earnings Supplemental Data
= Uber Technologies, Inc. SS = Q1 2019 Earnings Supplemental Data
Slide 2: Non-GAAP Financial Measures Disclosure
Non-GAAP Financial Measures Disclosure To supplement our financial information, which is prepared and presented in accordance with generally accepted accounting principles in the United States of America, or GAAP, we use the following non-GAAP financial measures: Adjusted Net Revenue; Core Platform
Slide 3: Forward Looking Statements Disclosure
Forward Looking Statements Disclosure This presentation may contain forward-looking statements regarding our future business expectations that involve risks and uncertainties. Actual results may differ materially from the results predicted, and reported results should not be considered as an indicat
Slide 4: Gross Bookings
Gross Bookings ($ in Millions) Core Platform % YoY Growth 57% 49% 41% 37% 34% Other Bets % YoY Constant Currency Growth 49% 46% 43% 41% $14,169 $14,649 $12012 $12,725 $10345 _ $10,893 $6,938 Q1 2017 Q22017 Q3 2017 Q4 2017 Q1 2018 Q22018 Q3 2018 Q4 2018 Q1 2019
Slide 5: Core Platform Gross Bookings
Core Platform Gross Bookings ($ in Millions) @ Ridesharing % YoY Growth 56% 48% 40% 36% 34% Uber Eats % YoY Constant Currency Growth 53% 48% 42% 41% $14040 ~—«$14.517 g11940 $12,599 $10,310 $10,853 $8,072 $9,024 Q12017 Q22017 Q3 2017 Q4 2017 Q12018 Q22018 Q3 2018 Q4 2018 Ql 2019
Slide 6: Monthly Active Platform Consumers
Monthly Active Platform Consumers (in Millions) 91 93 82 68 70 76 i 7 7 Ql 2017 Q22017 Q3 2017 Q4 2017 Q12018 Q22018 Q3 2018 Q4 2018 Q1 2019
Slide 7: Trips
Trips (in Millions) 1,550 1,348 1,136 1,242 1088 : : | | al Q1 2017 Q22017 Q3 2017 Q4 2017 Q12018 Q22018 Q3 2018 Q4 2018 Q1 2019 New Monty sos and Uber Eat mea! aolveree ina given period
Slide 8: Monthly Trips per MAPC
Monthly Trips per MAPC (in Millions) 5.5 5.5 5.5 55 5.4 5.4 5.3 | i Q1 2017 Q22017 Q3 2017 Q4 2017 Q12018 Q22018 Q3 2018 Q4 2018 Q1 2019
Slide 9: Adjusted Net Revenue
Adjusted Net Revenue ($ in Millions) @ Core Platform % YoY Growth 85% 58% 34% 16% 14% Other Bets % YoY Constant Currency Growth 81% 57% 38% 19% 18% , : 7 2761 $2,574 $2,656 $2644 $2, $2,282 $2,423 $1,982 $1,630 7 El Q1 2017 Q22017 Q3 2017 Q4 2017 Q1 2018 Q22018 Q3 2018 Q4 2018 Ql 2019
Slide 10: Core Platform Adjusted Net Revenue
Core Platform Adjusted Net Revenue ($ in Millions) Design %YoYGrowth 82% 54% 29% 12% 10% ™@ Uber Eats % YoY Constant Currency Growth 78% 54% 33% 15% 14% Other Core Platform p ' : ‘ ‘ g2383 $2503 «= $2531 += $2507 ‘$2616 $2,244 Ql 2017 Q22017 Q3 2017 Q4 2017 Q1 2018 Q22018 Q3 2018 Q4 2018 Ql 2019
Slide 11: Core Platform Contribution Margin
Core Platform Contribution Margin (% Core Platform Adjusted Net Revenue) 18% (4%) (8%) (3%) (3%) Q1 2017 Q22017 Q3 2017 Q4 2017 Q1 2018 Q22018 Q3 2018 Q4 2018 Q1 2019
Slide 12: Adjusted EBITDA
Adjusted EBITDA ($ in Millions) ($280) ($561) ($657) (688) aa ($869) Q1 2017 Q22017 Q3 2017 Q4 2017 Q12018 Q22018 Q3 2018 Q4 2018 Ql 2019
Slide 13: Condensed Consolidated Financial Statements
Condensed Consolidated Financial Statements —
Slide 14: Condensed Consolidated Statements of Operations
Condensed Consolidated Statements of Operations (Unaudited) ($ in Millions, except share and per share amounts) Uber 12019 Earnings Revenue Costs and expenses Cost of revenue, exclusive of depreciation and amortization shown separately below Operations and support Sales and marketing Research and de
Slide 15: Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Unaudited) ($ in Millions, except share and per share amounts) Uber @1 2019 Earnings AsofDec 3118 AsofMar31'19 Assets Cash and cash equivalents $6406 $5,745 Restricted cash and cash equivalents 67 136 Accounts receivable, net of allowance of $34 and $41, respec
Slide 16: Condensed Consolidated Balance Sheets (Continued)
Continued: Condensed Consolidated Balance Sheets (Unaudited) ($ in Millions, except share and per share amounts) Uber (@1 2019 Earnings AsofDec 3118 AsofMar31'19 Liabilities, mezzanine equity and stockholders’ deficit ‘Accounts payable S150 $51 Short-term insurance reserves 941 961 Operating lease l
Slide 17: Condensed Consolidated Statements of Cash Flows
Three Months Ended March 31 Condensed Cash flows from operating activities 4 Net income (loss) including redeemable non-controling interest $3,748 (sLo16) Statements Bad debt expense 12 47 Gain on business divestitures (3161) - Revaluation of derivative liabilities 367 7s) 4 Accretion of discount on
Slide 18: Condensed Consolidated Statements of Cash Flows (Continued)
Continued: Condensed Consolidated Statements of Cash Flows (Unaudited) ($ in Millions) Uber (@1 2019 Earnings Three Months Ended March 31 2018 2019 Cash flows from investing activities Proceeds from insurance reimbursement, sale and disposal of property and equipment $138 Purchase of property and eq
Slide 19: Condensed Consolidated Statements of Cash Flows (Continued)
Continued: Condensed Consolidated Statements of Cash Flows (Unaudited) ($ in Millions) Uber (@1 2019 Earnings Three Months Ended March 31 2018 2019 Reconciliation of cash and cash equivalents, and restricted cash and cash equivalents to the condensed consolidated balance sheets Cash and cash equival
Slide 20: Reconciliation from GAAP to Non-GAAP Financial Measures
Reconciliation from | a4 : ake ‘GAAP to Non-GAAP Fae Financial Measures _ ;
Slide 21: Select Non-GAAP Expenses and Other Line Items
Select Non-GAAP Expenses and Other Line Items (Unaudited) @in witions) Three Months Ended Jun30'17 Sep 30117 Dec31‘17_ Mar3118 = Jun30’18 © Sep3018 = Dec 3118 = Mar 3119 Adjusted Net Revenue $1309 $1630 $1982 $2282 $2,423 $2574 $2656 $2644 $2761 Contra Revenue: Legal, tax and requlatory reserves and
Slide 22: GAAP to Non-GAAP Reconciliation - Q1 2019
GAAP to Non-GAAP Reconciliation - Ql 19 (Unaudited) ($ in Millions) ‘Three Months Ended Assetimpairment/ loss on sale of assets Mar 3119 Excess Driver Driver Depreciation & Stock Based Mar 3119 ‘Amortization Compensation Non-GAAP GAAP Incentives Referrals Revenue $3,099 ($303) ($35) = m= = $2,761 Co
Slide 23: GAAP to Non-GAAP Reconciliation - Q1 2018
GAAP to Non-GAAP Reconciliation - Ql 18 (Unaudited) ($ in Millions) Three Months Ended iar 318 Excess Driver Driver Assetimpairment/ Legal, tax,and GAAP Incentives Referrals Depreciation& Stock Based Mar 3119 ‘Amortization Compensation Non-GAAP lossonsaleof _requlatoryreserves assets andsettiements
Slide 24: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations (Unaudited) «in wilions) Three Months Ended Mar3117- Jun3017_— Sep3017_—s~Dec31L‘17_— Mar3118 = Jun 3018 Sep Dec 3: Mar 3119 Revenue $1529 $1813 $2149 $2,441 $2584 $2,768 $2,944 $2,974 $3,099 Excess Driver incentives él) (434) a4) a2) (29) (463) (253) (292) (303) Dri
Slide 25: GAAP to Non-GAAP Reconciliations (Continued)
Continued: GAAP to Non-GAAP Reconciliations (Unaudited) @ in wilions) Three Months Ended Jun 30 ‘17 Sep 30117 Dec31‘17 Mar 3118 Jun 30°18 Mar 31‘19 GAAP Sales and marketing $601 $695 $679 $677 $715 $785 $974 $1,040 Driver referrals (49) (53) (38) (32) @D (35) (38) (35) Legal, tax, and regulatory res
Slide 26: Adjusted Net Revenue Reconciliation
Adjusted Net Revenue Reconciliation (Unaudited) ¢ in Wvilions) Three Months Ended Mar 31‘17 Jun 30 ‘17 Sep 3017 Dec 3117 Mar 31‘18 Jun 30°18 Sep 3018 Dec 3118 Adjusted Net Revenue reconciliation: Revenue $1529 $1813 $2,149 $2,441 $2584 $2,768 $2,944 $2974 Deduct: Excess Driver incentives as.) 34) aa
Slide 27: Adjusted Net Revenue Reconciliation
Adjusted Net Revenue Reconciliation (Unaudited) ¢ in Wvilions) Three Months Ended Mar 31‘17 Jun 30 ‘17 Sep 3017 Dec 3117 Mar 31‘18 Jun 30°18 Sep 3018 Dec 3118 Core Platform Adjusted Net Revenue reconciliatic Core Platform revenue $1529 $1805 $2128 $2403 $2544 $2,697 $2,819 $2837 Deduct: Excess Drive
Slide 28: Adjusted Net Revenue Reconciliation
Adjusted Net Revenue Reconciliation (Unaudited) ¢ in Wvilions) Three Months Ended Mar3117- Jun3017_— Sep3017_—s~Dec31‘17_— Mar3118 = Jun 3018» Sep3018 = Dec31'18 = Mar 3119. Uber Eats Adjusted Net Revenue reconciliation: Uber Eats revenue $83 sia $163 $220 $283 $346 $304 $437 $536 Deduct Excess Driv
Slide 29: Adjusted EBITDA Reconciliation
Adjusted EBITDA Reconciliation (Unaudited) @ i wiions) Three Months Ended Mar31‘17 Jun3017_— Sep3017_— (Dec 3117, Mar31‘18 = Jun 3018 = Sep30'18 = Dec31‘18 = Mar 31119 Adjusted EBITDA Reconciliation: Net income (loss) attributable to Uber Technologies, Inc ($927) (1,050) (s1al3) ($643) $3,748 (e878)
Slide 30: Segment Contribution Reconciliation
Segment Contribution Reconciliation (Unaudited) ¢ in ivilions) Three Months Ended Mar31‘17_ Jun3017_— Sep3017_— (Dec 3117, Mar31‘18 = Jun30'18~— Sep Dec31‘18 ‘Segment contribution profit (loss): Core Platform Contribution Profit (Loss) ($108) @7”) ($50) $198 $427 $369 $227 ($83) Other Bets contribut
Slide 31: Segment Contribution Reconciliation (Continued)
Continued: Segment Contribution Reconciliation (Unaudited) ¢ in ivilions) Three Months Ended Mar 3117 Jun 30 17 Sep 3017 Dec 3117 Mar 31118 Jun 30°18 Sep 3018 Dec 3118 Mar 3119 Segment contribution profit (loss) reconci ‘Total segment contribution profit (loss) ($112) ($15) ($61) $181 $407 $341 $184
Slide 32: Thank you
Thank you