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Uber Technologies, Inc (UBER) SEC Filing 10-Q Quarterly report for the period ending Monday, September 30, 2019

Uber Technologies, Inc

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CIK: 1543151 Ticker: UBER
Exhibit 99.1
Uber Announces Results for Third Quarter 2019

Revenue of $3.8 billion, with growth accelerating to 30% year-over-year, or 31% on a constant currency basis
Record Rides Adjusted EBITDA of $631 million, fully covering our Corporate G&A and Platform R&D

SAN FRANCISCO – November 4, 2019 – Uber Technologies, Inc. (NYSE: UBER) today announced financial results for the quarter ended September 30, 2019.

“Our results this quarter decisively demonstrate the growing profitability of our Rides segment,” said Dara Khosrowshahi, CEO. “Rides Adjusted EBITDA is up 52% year-over-year and now more than covers our corporate overhead. Revenue growth and take rates in our Eats business also accelerated nicely. We’re pleased to see the impact that continued category leadership, greater financial discipline, and an industry-wide shift towards healthier growth are already having on our financial performance.”

During the third quarter of 2019, following a number of leadership and organizational changes, we reorganized our operations and financial reporting into five segments. Our five operating and reportable segments are: Rides, Eats, Freight, Other Bets, and Advanced Technologies Group (“ATG”) and Other Technology Programs. We are providing Gross Bookings, Revenue, Adjusted Net Revenue, and Adjusted EBITDA for each segment. As a result of our reorganization and additional disclosure, we will no longer be showing Core Platform metrics. We are providing select historical segment information for 2018 and 2019 as well as reconciliations to Core Platform metrics in the supplemental information on our website (investor.uber.com) on page 10.

Financial Highlights for Third Quarter 2019
•
Gross Bookings grew $3.7 billion year-over-year to $16.5 billion, representing 29% year-over-year growth, or 32% on a constant currency basis.
•
Revenue growth accelerated to 30% year-over-year from 14% in the second quarter of 2019.
•
Adjusted Net Revenue (“ANR”) growth accelerated to 33% year-over-year, or 35% on a constant currency basis as both Rides and Eats ANR take-rates improved quarter-over-quarter to 22.8% and 10.7%, respectively.
•
Net loss attributable to Uber Technologies, Inc. of $(1.2) billion, which includes $401 million in stock-based compensation expense, improved quarter-over-quarter in part due to revenue growth of $647 million.
•
Rides Adjusted EBITDA of $631 million was the Rides segment’s 8th positive Adjusted EBITDA quarter in a row and covered our Corporate G&A and Platform R&D of $623 million.
•
Adjusted EBITDA of $(585) million improved $71 million quarter-over-quarter.
•
Unrestricted cash and cash equivalents were $12.7 billion, which was up $0.9 billion from the second quarter of 2019 primarily due to the sale of $1.2 billion of senior unsecured notes and the closing of the $1.0 billion investment in ATG.

Third Quarter 2019 Financial and Operational Highlights
 
 
Three Months Ended September 30,
 
 
 
 
(in millions, except percentages)
 
2018
 
2019
 
% Change
 
% Change
(Constant Currency (1))
 
 
 
 
 
 
 
 
 
Monthly Active Platform Consumers (“MAPCs”)
 
82

 
103

 
26
 %
 
 
Trips
 
1,348

 
1,770

 
31
 %
 
 
Gross Bookings
 
$
12,725

 
$
16,465

 
29
 %
 
32
%
Revenue
 
$
2,944

 
$
3,813

 
30
 %
 
31
%
Adjusted Net Revenue (1)
 
$
2,656

 
$
3,533

 
33
 %
 
35
%
Net loss attributable to Uber Technologies, Inc. (2)
 
$
(986
)
 
$
(1,162
)
 
(18
)%
 
 
Adjusted EBITDA (1)
 
$
(458
)
 
$
(585
)
 
(28
)%
 
 
(1) See “Definitions of Non-GAAP Measures” and “Reconciliations of Non-GAAP Measures” sections herein for an explanation and reconciliations of non-GAAP measures used throughout this release.
(2) Net loss attributable to Uber Technologies, Inc. includes stock-based compensation expense of $64 million in Q3 2018 and $401 million in Q3 2019.

1
The following information was filed by Uber Technologies, Inc (UBER) on Monday, November 4, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Uber Technologies, Inc's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover Page
Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets (Parenthetical)
Condensed Consolidated Statements Of Cash Flows
Condensed Consolidated Statements Of Comprehensive Income (Loss)
Condensed Consolidated Statements Of Mezzanie Equity And Equity (Deficit)
Condensed Consolidated Statements Of Operations
Assets And Liabilities Held For Sale
Assets And Liabilities Held For Sale (Tables)
Assets And Liabilities Held For Sale - Narrative (Details)
Assets And Liabilities Held For Sale - Summary Of Information (Details)
Basis Of Presentation And Summary Of Significant Accounting Policies
Basis Of Presentation And Summary Of Significant Accounting Policies (Details)
Basis Of Presentation And Summary Of Significant Accounting Policies (Policies)
Commitments And Contingencies
Commitments And Contingencies (Details)
Equity Method Investments
Equity Method Investments (Tables)
Equity Method Investments - Carrying Value (Details)
Equity Method Investments - Narrative (Details)
Goodwill
Goodwill (Details)
Goodwill (Tables)
Income Taxes
Income Taxes (Details)
Investments And Fair Value Measurement
Investments And Fair Value Measurement (Tables)
Investments And Fair Value Measurement - Change In Equity Securities (Details)
Investments And Fair Value Measurement - Fair Value Of Unobservable Inputs, Assets (Details)
Investments And Fair Value Measurement - Fair Value Of Unobservable Inputs, Liabilities (Details)
Investments And Fair Value Measurement - Fair Value On A Recurring Basis (Details)
Investments And Fair Value Measurement - Investments (Details)
Investments And Fair Value Measurement - Narrative (Details)
Investments And Fair Value Measurement - Summary Of Amortized Cost, Unrealized Gains And Losses Of Financial Assets (Details)
Investments And Fair Value Measurement - Summary Of Amortized Costs And Fair Value Of Financial Assets (Details)
Investments And Fair Value Measurement - Summary Of Unobservable Inputs (Details)
Investments And Fair Value Measurement - Unrealized Gain (Loss) On Non-Marketable Securities (Details)
Leases
Leases (Tables)
Leases - Additional Lease Information (Details)
Leases - Failed Sale-Leaseback Transaction (Details)
Leases - Lease Costs (Details)
Leases - Maturity Of Lease Liabilities (Details)
Leases - Narrative (Details)
Leases - Supplemental Balance Sheet Information - Finance Leases (Details)
Leases - Supplemental Balance Sheet Information - Operating Leases (Details)
Leases - Supplemental Cash Flow Information (Details)
Long-Term Debt And Revolving Credit Arrangements
Long-Term Debt And Revolving Credit Arrangements (Tables)
Long-Term Debt And Revolving Credit Arrangements - Components Of Debt (Details)
Long-Term Debt And Revolving Credit Arrangements - Interest Expense (Details)
Long-Term Debt And Revolving Credit Arrangements - Narrative (Details)
Net Income (Loss) Per Share
Net Income (Loss) Per Share (Tables)
Net Income (Loss) Per Share - Antidilutive Securities (Details)
Net Income (Loss) Per Share - Computation (Details)
Non-Controlling Interest
Non-Controlling Interest (Details)
Property And Equipment, Net
Property And Equipment, Net (Details)
Property And Equipment, Net (Tables)
Redeemable Convertible Preferred Stock, Common Stock, And Equity (Deficit)
Redeemable Convertible Preferred Stock, Common Stock, And Equity (Deficit) (Tables)
Redeemable Convertible Preferred Stock, Common Stock, And Equity (Deficit) - Narrative (Details)
Redeemable Convertible Preferred Stock, Common Stock, And Equity (Deficit) - Restricted Stock Units Activity (Details)
Redeemable Convertible Preferred Stock, Common Stock, And Equity (Deficit) - Sar And Option Activity (Details)
Redeemable Convertible Preferred Stock, Common Stock, And Equity (Deficit) - Stock-Based Compensation Expense (Details)
Redeemable Convertible Preferred Stock, Common Stock, And Equity (Deficit) - Summary Of Restricted Common Stock (Details)
Revenue
Revenue (Tables)
Revenue - Remaining Performance Obligation (Details)
Revenue - Summary (Details)
Segment Information And Geographic Information
Segment Information And Geographic Information (Tables)
Segment Information And Geographic Information - Geographic Information (Details)
Segment Information And Geographic Information - Summary (Details)
Select Historical Segment Financial Change
Select Historical Segment Financial Change (Tables)
Select Historical Segment Financial Change - Narrative (Details)
Select Historical Segment Financial Change - Reconciliation Of Adjusted Ebitda By Segment (Details)
Select Historical Segment Financial Change - Revenue By Segment (Details)
Subsequent Events (Details)
Subsequent Events (Notes)
Supplemental Financial Statement Information
Supplemental Financial Statement Information (Tables)
Supplemental Financial Statement Information - Accrued And Other Current Liabilities (Details)
Supplemental Financial Statement Information - Accumulated Other Comprehensive Income (Details)
Supplemental Financial Statement Information - Other Income (Expenses), Net (Details)
Supplemental Financial Statement Information - Other Long-Term Liabilities (Details)
Supplemental Financial Statement Information - Prepaid Expenses And Other Current Assets (Details)
Variable Interest Entities ("Vies")
Variable Interest Entities ("Vies") (Tables)
Variable Interest Entities ("Vies") - Narrative (Details)
Variable Interest Entities ("Vies") - Summary Of Vies (Details)

Material Contracts, Statements, Certifications & more

Uber Technologies, Inc provided additional information to their SEC Filing as exhibits

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification
Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification
Exhibit 32.1: Section 1350 Certification
Exhibit 99.1: Additional Exhibits
Ticker: UBER
CIK: 1543151
Form Type: 10-Q Quarterly Report
Accession Number: 0001543151-19-000017
Submitted to the SEC: Tue Nov 05 2019 11:58:34 AM EST
Accepted by the SEC: Tue Nov 05 2019
Period: Monday, September 30, 2019
Industry: Prepackaged Software

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