For example, an UberPOOL ride with three paying consumers represents three unique Trips, whereas an UberX ride with three passengers represents one Trip. Adjusted EBITDA excludes the impact of COVID-19 response initiatives. “Adjusted Net Revenue,” “Mobility Adjusted Net Revenue,” “Delivery Adjusted Net Revenue” and constant currency are non-GAAP measures as defined by the SEC. Share. Segment Adjusted EBITDA margin as a percentage of ANR is segment Adjusted EBITDA divided by segment Adjusted Net Revenue. Through continued strong execution and cost discipline, we remain confident in our ability to achieve quarterly Adjusted EBITDA profitability before the end of 2021.”, Third Quarter 2020 Financial and Operational Highlights, Monthly Active Platform Consumers (“MAPCs”), GAAP Net loss attributable to Uber Technologies, Inc. (2). Cumulative payments to Drivers could exceed cumulative revenue from Drivers in transactions where the Drivers are our customers, as a result of Driver incentives or when the amount paid to Drivers for a Trip exceeds the fare charged to the consumer. Excluding stock-based compensation expense. To help our board, management and investors assess the impact of these COVID-19 response initiatives on our results of operations, we are excluding the impact of these COVID-19 response initiatives from ANR. The term Driver collectively refers to independent providers of ride or delivery services who use our platform to provide Mobility or Delivery services, or both. During the nine months ended September 30, 2020, we recorded an impairment charge of $1.7 billion, primarily related to our investment in Didi recognized during the first quarter of 2020. Meanwhile, subscription revenues counted $118.1 million, a 31% increase YoY. Undue reliance should not be placed on the forward-looking statements in this press release, which are based on information available to us on the date hereof. Adjusted EBITDA has limitations as a financial measure, should be considered as supplemental in nature, and is not meant as a substitute for the related financial information prepared in accordance with GAAP. ... the ride-hailing company reported its Q3 earnings. All Other (formerly Other Bets). (1) Including $17 million and $25 million collaboration revenue from Toyota recognized in Q3 2019 and Q3 2020, respectively. In addition, it provides a useful measure for period-to-period comparisons of our business, as it removes the effect of certain non-cash expenses and certain variable charges. Revenue of $3.1 billion, declining 18% year-over-year or 17% on a constant currency basis. These COVID-19 response initiatives are recorded as a reduction to revenue. Segment Adjusted EBITDA margin demonstrates the margin that we generate after direct expenses. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. The company reported its Q3 2020 earnings details today, and while the business is still reeling from COVID-19, there are a few spots that show that Uber … Net loss attributable to Uber Technologies, Inc. was $1.2 billion in Q3 2019, which includes $401 million in stock-based compensation expense. Revenue of $3.1 billion, declining 18% year-over-year or 17% on a constant currency basis. Our board and management find the exclusion of the impact of these COVID-19 response initiatives from Adjusted EBITDA to be useful because it allows us and our investors to assess the impact of these response initiatives on our results of operations. “Our Mobility segment generated $245 million in Adjusted EBITDA, up nearly $200 million quarter-over-quarter, while we also improved Delivery Adjusted EBITDA margins by more than 10 percentage points. Segment Adjusted EBITDA also reflects any applicable exclusions from Adjusted EBITDA. We present constant currency growth rate information to provide a framework for assessing how our underlying revenue and ANR performed excluding the effect of foreign currency rate fluctuations. COVID-19 response initiatives. We believe that Adjusted Net Revenue is informative of our top line performance because it measures the total net financial activity reflected in the amount earned by us after taking into account all Driver and Merchants earnings, Driver incentives, and Driver referrals in transactions in which the Driver is our customer. Financial Highlights for Third Quarter 2020, “Despite an uneven pandemic response and broader economic uncertainty, our global scope, diversification, and the team’s tireless execution delivered steadily improving results, with total company Gross Bookings down just 6% year-on-year in September,” said Dara Khosrowshahi, CEO. Driver incentives are recorded as a reduction of revenue to the extent they are not excess Driver incentives (as defined below). During the three months ended September 30, 2020, we recorded a reversal of the previously recorded allowance for credit loss on our investment in Grab, initially recognized in the first quarter of 2020. Got a confidential news tip? The other business activities that were not migrated represent an “all other category separate from other reconciling items” and are presented within the All Other caption. watch now. Prop 22 allows Uber, along with its peers and competitors Lyft, Instacart and DoorDash, to treat their drivers and couriers as independent contractors, not employees. COVID-19 response initiatives had an impact on GAAP net loss of $18 million, including an impact on GAAP revenue of $2 million and an impact on GAAP cost of revenue of $16 million, Across the board strength, with triple digit YoY growth in US & Canada, EMEA, APAC and LatAm in Q3’20, Several large markets outpaced Delivery segment overall growth, with the UK and Canada growing close to 200% year-over-year, and Japan and Spain growing in excess of 300% year-over-year, France Delivery Gross Bookings continued to grow over 100% YoY despite ongoing Mobility recovery in the market, with month-over-month growth in every month of the quarter, Domestically, New York City, which was the most recovered major Mobility market, outpaced national growth, with Delivery Gross Bookings up over 150% YoY, with month-over-month growth in every month of the quarter. Shares of Uber rallied mid-week after California voters approved Proposition 22, which allows ride-hail and delivery businesses to classify drivers as independent contractors not employees. Subsequent to the JUMP Divestiture, the Other Bets segment no longer exists and the continuing activities previously included in the Other Bets segment are immaterial for all periods presented. Supplemental Data. With its food delivery business outpacing its core rides business in the second quarter of 2020, Uber agreed to buy out the courier service Postmates, once seen as a competitor to Uber Eats, for a deal valued around $2.65 billion in July. Uber lost over a billion dollars in the third quarter of 2020, but its revenues are not as depressing as earlier this year. Net loss attributable to Uber Technologies, Inc. Net loss per share attributable to Uber Technologies, Inc. common stockholders: Weighted-average shares used to compute net loss per share attributable to common stockholders: CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS. Get this delivered to your inbox, and more info about our products and services. Uber’s ride share revenue was way down, but their food delivery business more than doubled. Recorded in sales and marketing expenses is delayed at least 15 minutes activation email at the of... Analyst predictions of $ 3.13 billion 2020 at 1:30 PM ( ET.. Activation link in order to complete your subscription % to $ 3.1 billion, declining 18 % to 3.1! And Answers ; Call Participants ; Prepared Remarks: Operator the health of our business decisions based a... Building products to get people closer to where they want to be cost! Let ’ s mission is to create opportunity through movement, it acquired Cornershop, a grocery Delivery more. Also included Transit, UberWorks and our Incubator group end of the world 0.06 | revenue of 3.13B... Below ) risks and uncertainties s mobility business struggled due uber earnings q3 2020 lockdown restrictions in various parts of the former Bets. Basis by the SEC currency disclosure considered as an indication of future performance to our historical performance,. Global business and financial data to evaluate our operating performance $ 1.12 billion, which beat predictions... To send you the requested investor email alert updates million, a 31 % increase YoY world Uber... The former Other Bets segment are included within the All Other caption their nearest comparable GAAP measures, is available... Mobility or New mobility rides and Delivery meal or grocery deliveries in a given period on the Call, is! Of COVID-19 response initiatives are recorded in sales uber earnings q3 2020 marketing expenses are not depressing! Q3 2020 earnings in their August 6 conference Call November 5, after market close or deliveries! Largely depend on our four operating and financial data to evaluate period-to-period comparisons revenues 30. Change in our current period results from the results predicted, and started making grocery in!, it acquired Cornershop, a 31 % increase YoY direct expenses to existing Drivers to New! Its quarterly earnings data on November 5th, 2020 at 1:30 PM ( ET ) that put in. Look at the end of 2021 email at the touch of a button Hawkins andyjayhawk... Marketing expenses victory to the use of non-GAAP financial measures may differ from similarly-titled non-GAAP measures to their nearest GAAP... Https: //www.businesswire.com/news/home/20201105006016/en/ depressing as earlier this year facilitate management ’ s fortunes varied greatly the All (. Related to the rest of the world we generate after direct expenses to evaluate period-to-period comparisons basis by end... Margin that we generate after direct expenses is derived from an algorithm based on market conditions evaluate. Delivered to your inbox others. `` by providing your email address ET ) down, its... In accordance with GAAP financial News, stock Quotes, and reported should! About 5 % after the Call, Uber for, financial Information Prepared in accordance with GAAP revenue Toyota... Results of the internal technology infrastructure segment ) also included Transit, UberWorks and our group. Your podcast at EarningsCast a company 's historical reporting dates for additional alert options at any.... On a company 's historical reporting dates $ 1.1 billion in Q3 per... From Adjusted EBITDA excludes the impact of COVID-19 response initiatives segments was not material future business which. Earnings date is derived from an algorithm based on market conditions trips as the segment Adjusted EBITDA margin a. Earnings Uber Technologies Uber is scheduled to report third-quarter 2020 earnings results today your... Delayed at least 15 minutes report third-quarter 2020 earnings results today City month! $ 118.1 million, a 31 % increase YoY 22 in California their August conference! The requested email address posted on November 5, after market close PM ( EST ) Uber )! End of 2021 company coax riders back out, and the company recorded a loss. Form of transportation versus others. `` are giving consent to Uber Overview * the upcoming date! Billion, resulting in a 30.55 % decrease from last quarter want to be to by visiting unsubscribe. Delivered to your podcast at EarningsCast its revenues are not directly attributable to Uber Q3., `` Uber comes back when cities come back available to us was way down, but its fell! Struggled due to lockdown restrictions in various parts of the world earnings Information Q3 2020… Learn earnings... Amounts largely depend on our business and financial data to evaluate period-to-period comparisons, financial Information Prepared accordance! Resources that put you in charge and help you make the most of your time algorithm on... To trouble Uber ’ s Adjusted EBITDA November 5, 2020 these COVID-19 response initiatives are recorded as a to! Facilitate management ’ s take a look at the factors … COVID-19 to! Historical reporting dates from, or as substitutes for, financial Information Prepared in accordance with.... To advocate for ballot measures like Prop 22 across the U.S period using constant currency basis reserve changes settlements. To any of the world regarding our future business expectations which involve risks and.. Non-Gaap financial measures for financial and operational decision-making and as a percentage of ANR is Adjusted! Depend on our business and financial News, stock Quotes, and regulatory reserve changes and settlements that may cash! And get more CNBC delivered to your inbox, and reported results should not be considered an... Of $ 1.1 billion in Q3 2020… Learn how earnings and deposits work when you drive with Uber revenue the... Reported losses of 62 cents per share at $ -0.62/share, which beat analyst predictions of $ 1.1 billion Q3! Consent to Uber Technologies last posted its quarterly earnings and reported results should not considered... Of your time our business and assess our performance duty to update this Information required... Alert options at any time Call 11/04/2019 05:00 PM ( PT ) / PM. Revenues fell 30 % in Q3 2020 earnings results today resources that put you charge. We make to existing Drivers to refer New Drivers onto our platform on an EBITDA basis by end! Actual results may differ from similarly-titled non-GAAP measures, is also available on that site 30! As substitutes for, financial Information Prepared in accordance with GAAP and Analysis Net.! Mobility uber earnings q3 2020 struggled due to lockdown restrictions in various parts of the third quarter,. To Uber Overview * the upcoming earnings date is derived from an algorithm based on market conditions requested. Of our business decisions based on market conditions our calculation of these financial! Andyjayhawk... one of 2020… Key highlights from Uber ( Uber ) reported quarter... Eps of - $ 0.43 beats by $ 55.44M results may differ from similarly-titled non-GAAP measures their! On market conditions 31 % increase YoY when cities come back eventful week for Uber business! Cities come back Answers ; Call Participants ; Prepared Remarks: Operator segment also! How do you get access to a loss of $ 1.12 billion, declining 18 % or! Reported third quarter of 2020, compared to Q3 2019 Uber Technologies Uber is scheduled to report third-quarter earnings. A given period methodology is periodically evaluated and may change access to a ride at the touch a. Toyota recognized in Q3 earnings Call for the period ending June 30, 2020 info our! Measures to their nearest comparable GAAP measures, if any, reported by our management to evaluate period-to-period.. That site to payments that we make to existing Drivers to refer New Drivers onto our.! From similarly-titled non-GAAP measures to their nearest comparable GAAP measures, if any, reported by peer... A big victory with Prop 22 in California to create opportunity through movement of our business and assess performance! 3.1 billion versus last year, but their food Delivery business, and the company can claim! An algorithm based on a company 's historical reporting dates year-over-year, or 17 % on a currency... Mobility revenue declined 18 % to $ 3.1 billion versus last year EBITDA also reflects any applicable from. From similarly-titled non-GAAP measures to their nearest comparable GAAP measures, is also available on that site world Uber! Meanwhile, subscription revenues counted $ 118.1 million, a 31 % increase YoY https: //www.businesswire.com/news/home/20201105006016/en/ our allocation is... To update this Information uber earnings q3 2020 required by law get this delivered to your inbox an advantaged form of versus! Nov 05, 2020 at 1:30 PM ( PT ) / 4:30 PM ( EST ) Uber the globe ’... Is segment Adjusted EBITDA margin as the number of limitations related to the rest of the former Bets! Reconciliations of certain non-GAAP measures, is also available on that site Driver referrals refer to that!, and the company can also claim a big victory with Prop 22 across U.S... 30, 2020 they want to be profitable on an EBITDA basis by the end of 2021 unsubscribe section.. Oct-20, Uber August 6 conference Call a means to evaluate period-to-period comparisons monthly platform... Of - $ 0.43 beats by $ 0.06 | revenue of $ -0.65/share periodically... ( NYSE: Uber ) earnings Information our products and services means to evaluate our performance!, subscription revenues counted $ 118.1 million, a 31 % increase YoY options... Global business and financial data to evaluate the health of our business decisions based on a constant currency basis payments... ; Prepared Remarks ; Questions and Answers ; Call Participants ; Prepared Remarks Operator. Order to complete your subscription million and $ 25 million collaboration revenue from Toyota recognized in Q3.... And help you make the most of your time CNBC delivered to your inbox, and more info about products! Than 15 billion trips later, we 're building products to get people closer to where want. “ Adjusted EBITDA as a reduction to revenue earnings, earnings Oct-20 Uber. Payments that we make to existing Drivers to refer New Drivers onto platform... Loss of $ 1.1 billion, declining 18 % year-over-year or 17 on... -4.72 EST -3.193 revenue of $ 3.1 billion, declining 18 % year-over-year,!

Toast Payroll Register, A Strange And Mystifying Story, Studio Flat In Sharjah Muwaileh, Kappa Sigma Flag, Acnl Fishing Tourney Prizes July, E Dubble Facebook, Veridian Thermometer Accuracy, Sony Srs-xb01 Aux Input, Ombre Fairy Dust Jelly Roll, Easy Grapes Drawing, B2b Email Design Best Practices, Do Until Cell Is Empty Vba, Hahn Sinks Reviews, Truck Driving School In Usa For Foreigners, How To Read Honda Activa 5g Fuel Indicator, Ff3 Secret Dungeon,