10-QPeriod: Q3 FY2019

Uber Technologies, Inc Quarterly Report for Q3 Ended Sep 30, 2019

Filed November 5, 2019For Securities:UBER

Summary

Uber Technologies, Inc. reported its third-quarter 2019 financial results, showing continued growth in key metrics like Monthly Active Platform Consumers (MAPCs) and Gross Bookings. Revenue increased by 30% year-over-year to $3.8 billion, driven by strong performance in the Rides and Eats segments, with Eats revenue showing particularly robust growth of 64%. Despite top-line growth, Uber continued to experience significant operating losses, with a net loss attributable to Uber Technologies, Inc. of $1.16 billion for the quarter. This loss was exacerbated by a substantial increase in research and development expenses, largely due to stock-based compensation related to the company's recent Initial Public Offering (IPO) in May 2019. The company ended the quarter with a strong cash position of $12.7 billion in unrestricted cash and cash equivalents, providing significant liquidity.

Financial Highlights

53 data points
Beta

Revenue

$3.81B

Net Income

-$1.16B

-30.5% Net Margin

EPS (Diluted)

$-0.68

Total Assets

$32.29B

Cash & Equivalents

$12.65B

Free Cash Flow

-$1.01B

Financial Statements
Beta
Revenue$3.81B
R&D Expenses$755.00M
Operating Expenses$4.92B
Operating Income-$1.11B
Interest Expense$90.00M
Net Income-$1.16B
EPS (Basic)$-0.68
EPS (Diluted)$-0.68
Shares Outstanding (Basic)1.70B
Shares Outstanding (Diluted)1.70B

Key Highlights

  • 1Revenue grew 30% year-over-year to $3.8 billion in Q3 2019.
  • 2Eats revenue saw a significant increase of 64% year-over-year, indicating strong momentum in the food delivery segment.
  • 3Monthly Active Platform Consumers (MAPCs) increased by 26% year-over-year to 103 million.
  • 4Gross Bookings increased by 29% year-over-year to $16.5 billion, demonstrating continued platform scale.
  • 5The company reported a net loss attributable to Uber Technologies, Inc. of $1.16 billion for the quarter.
  • 6Research and development expenses increased significantly, largely driven by stock-based compensation following the IPO.
  • 7Uber ended the quarter with substantial liquidity, holding $12.7 billion in unrestricted cash and cash equivalents.

Frequently Asked Questions

Uber's total revenue for the third quarter of 2019 was $3.8 billion, representing a 30% increase compared to the same period in the previous year. This growth was driven by increased Gross Bookings and higher MAPCs across its core segments, particularly Rides and Eats.

The Eats segment showed strong growth, with revenue increasing by 64% year-over-year to $645 million. This robust performance was attributed to changes in service fees, expansion into international markets, and lower courier incentive spend.

Uber reported a net loss attributable to Uber Technologies, Inc. of $1.16 billion for the third quarter of 2019. This loss was influenced by significant investments in research and development, including substantial stock-based compensation expenses related to the company's IPO in May 2019, as well as increased sales and marketing expenses to drive growth.

Uber ended the third quarter of 2019 with a strong liquidity position, holding $12.7 billion in unrestricted cash and cash equivalents. This substantial cash balance provides the company with significant flexibility for ongoing investments and operations.