illustration photo taken in Poland on March 21, 2020. She speaks frequently at tech conferences covering macro trends and has a tech podcast in the Top 40 for technology on iTunes and Spotify. She works in San Francisco and Silicon Valley as a data technology evangelist with over 7 years of experience in mobile and data. The overall financial performance defies the CEO’s statements, which are based on a single non-GAAP reporting measure “Rides Adjusted EBITDA.” This non-GAAP reporting measure is new to Uber as of Q3 2019 and replaces the less favorable contribution margin.Full-year 2019 revenue grew 26% to $14.1 billion and net loss was -$8.5 billion compared to a net profit of $997 million for 2018. Uber burns over $4 billion annually yet the company is stating it will be profitable by the end of 2020. Its adjusted losses decreased 15 percent in 2018 to $1.8 billion, down from $2.2 billion in 2017. Uber’s Gross Bookings growth is actually quite low at 20% compared to Lyft’s Ride Revenue at 52%.Some of Uber’s weaknesses and risks are known to the market. Uber reported a 281% increase in Rides Adjusted EBITDA from $195 million to $742 million in Q4 and a 34% increase from $1.54 billion to $2.07 billion in full year 2019. I’ve been critical of the ride-sharing business model since pre-IPO when the media speculated Uber would reach $100 per share.The problem with the ridesharing business model is that the more money the business makes, the more the business loses. In the 10Q details, Uber does not break out the number of ridesharing trips and monthly active users separately from Uber Eats and Freight although there is a statement in the summary that Gross Bookings grew 20% and Eats grew 73% year-over-year.Gross Bookings is defined as “the total dollar value” including taxes, tolls, fees and without an adjustment for consumer discounts and refunds. Uber’s Threats.
This is one reason the price-to-sales ratio is very low at 2.3 with a forward price to sales of 1.7. The markets did not reward Uber for driving demand at the expense of its bottom line. Autonomous vehicles were a major part of Uber’s story due to concerns around drivers who bring never-ending legal battles on the misclassification of employment. Ten years of annual and quarterly financial ratios and margins for analysis of Uber Technologies (UBER). Opinions expressed by Forbes Contributors are their own.Beth Kindig publishes a free newsletter on tech stocks at Beth.Technology and runs a premium research service for stock investors. Essentially, Gross Bookings is similar to Ride Revenue, the metric that Lyft reports. However, if the companies raise prices, demand will decrease.
Notably, the misclassification of employment is receiving renewed criticism with the ride-sharing business shut down from the Coronavirus. You must click the activation link in order to complete your subscription. (Photo by Jakub Porzycki/NurPhoto via Getty Images)I believe Uber will need to raise more money in the near future and will do (and say) whatever necessary to raise its market cap before doing so. Uber Financial Statistics 12. You can sign up for additional alert options at any time.You can unsubscribe to any of the investor alerts you are subscribed to by visiting the Unsubscribe section below. Although Uber has been losing money ($2.6 billion in 2016), it’s continued to generate significant revenue all the same. The last thing to note, which is quite important, is the story for Uber is changing frequently. Any financial incentive from its competitor is enough to steal its customer base and employees. Despite the combination of steep losses and ample debt, the CEO stated the balance sheet is “incredibly strong” due to the absence of short-term debt.
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