We believe these non-GAAP financial measures are useful to investors both because (1) they allow for greater transparency with respect to key metrics used by management in its financial and operational decision-making and (2) they are used by our institutional investors and the analyst community to help them analyze the health of our business. We want to hear from you. To supplement our financial information, which is prepared and presented in accordance with generally accepted accounting principles in the United States of America (“GAAP”), we use the following non-GAAP financial measures: Adjusted Net Revenue; Mobility Adjusted Net Revenue; Delivery Adjusted Net Revenue; Adjusted EBITDA; and Adjusted EBITDA margin as a percentage of ANR, as well as, revenue and Adjusted Net Revenue growth in constant currency. For example, an UberPOOL ride with three paying consumers represents three unique Trips, whereas an UberX ride with three passengers represents one Trip. Revenues declined 18% to $3.1 billion versus last year. We compare the percent change in our current period results from the corresponding prior period using constant currency disclosure. Uber Technologies UBER is scheduled to report third-quarter 2020 earnings numbers on Nov 5, after market close. Earnings Uber Technologies (NYSE:UBER) Earnings Information. Tweet. Supplemental Data. Take Rate. Gross Bookings declined to $14.7 billion, down 10% year-over-year, or 8% on a constant currency basis, … Adjusted Net Revenue has limitations as a financial measure, should be considered as supplemental in nature, and is not meant as a substitute for revenue prepared in accordance with GAAP. “Mobility Gross Bookings nearly doubled from Q2 levels and Delivery surged again to 135% year-on-year growth thanks to an increasing pace of innovation, which saw us launch new industry-leading safety technology; extend delivery offerings into groceries and prescriptions; bring Uber Green to more than 50 cities; and expand both Uber Pass and Eats Pass membership plans.”, “As consolidated growth returns, it will return to a more profitable foundation,” said Nelson Chai, CFO. We define Adjusted EBITDA as net income (loss), excluding (i) income (loss) from discontinued operations, net of income taxes, (ii) net income (loss) attributable to non-controlling interests, net of tax, (iii) provision for (benefit from) income taxes, (iv) income (loss) from equity method investments, (v) interest expense, (vi) other income (expense), net, (vii) depreciation and amortization, (viii) stock-based compensation expense, (ix) certain legal, tax, and regulatory reserve changes and settlements, (x) goodwill and asset impairments/loss on sale of assets, (xi) acquisition and financing related expenses, (xii) restructuring and related charges and (xiii) other items not indicative of our ongoing operating performance, including COVID-19 response initiatives related payments for financial assistance to Drivers personally impacted by COVID-19, the cost of personal protective equipment distributed to Drivers, Driver reimbursement for their cost of purchasing personal protective equipment, the costs related to free rides and food deliveries to healthcare workers, seniors, and others in need as well as charitable donations. We include the impact of these amounts in Adjusted Net Revenue as it is useful to evaluate how increasing or decreasing incentives would impact our top line performance, and the overall net financial activity between us and our customers, which ultimately impacts our Take Rate. Uber Technologies Inc. reported third quarter 2020 earnings results today. ... Q3 2019 Uber Technologies Inc Earnings Call 11/04/2019 05:00 PM (EST) UBER. Back to UBER Overview *The upcoming earnings date is derived from an algorithm based on a company's historical reporting dates. Net Loss, Adjusted EBITDA and Segment Adjusted EBITDA. He said Uber had improved its position in 11 of the top 15 markets in the United States during the third quarter including New York City, Chicago and Atlanta. Uber’s mission is to create opportunity through movement. Khosrowshahi said, on the call, Uber will continue to advocate for ballot measures like Prop 22 across the U.S. Uber shares dropped as much as 4% after-hours Thursday as the company reported third quarter revenue that missed Wall Street's expectations, but picked up during the company's earnings call when the CEO said there are early signs its core ride-hailing business would fully recover from the Covid 19 pandemic. 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. Earnings Uber Touts Delivery Business In Q3 Earnings Call. After submitting your request, you’ll receive an activation email at the requested email address. The presentation of this financial information is not intended to be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. Uber Technologies Q3 2020 Earnings Call Nov 05, 2020, 4:30 p.m. We define each segment’s Adjusted EBITDA margin as the segment Adjusted EBITDA as a percentage of segment Adjusted Net Revenue. 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. We believe that these non-GAAP financial measures provide meaningful supplemental information regarding our performance by excluding certain items that may not be indicative of our recurring core business operating results. We have included Adjusted EBITDA because it is a key measure used by our management team to evaluate our operating performance, generate future operating plans, and make strategic decisions, including those relating to operating expenses. Uber ( UBER) r eported its Q3 2020 earnings after the closing bell on Thursday, beating analysts’ expectations on solid growth from its Eats business. ... the ride-hailing company reported its Q3 earnings. November 5, 2020 01:30 PM PT. © 2021 CNBC LLC. Uber Technologies UBER is scheduled to report third-quarter 2020 earnings numbers on Nov 5, after market close. We use these non-GAAP financial measures for financial and operational decision-making and as a means to evaluate period-to-period comparisons. 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. Highs And Lows Of 2020 … These COVID-19 response initiatives are recorded as a reduction to revenue. During the nine months ended September 30, 2019, we recognized a $444 million gain on extinguishment of our 2021 and 2022 convertible notes and settlement of derivatives in connection with our IPO, recognized during the second quarter of 2019. Prior to the second quarter of 2020, the All Other (formerly our Other Bets segment) consisted of multiple investment stage offerings, primarily our New Mobility products that provide consumers with access to rides through a variety of modes, including dockless e-bikes and e-scooters. That means Uber will avoid the costs of providing a full slate of benefits and protections for drivers, including paid sick days and other time-off, unemployment insurance and healthcare. These non-GAAP financial measures should not be considered in isolation from, or as substitutes for, financial information prepared in accordance with GAAP. To support those whose earning opportunities have been depressed as a result of COVID-19, as well as communities hit hard by the pandemic, we have announced and implemented several initiatives, including, in particular, payments for financial assistance to Drivers personally impacted by COVID-19, the cost of personal protective equipment distributed to Drivers, Driver reimbursement for their cost of purchasing personal protective equipment, the costs related to free rides and food deliveries to healthcare workers, seniors, and others in need as well as charitable donations. Uber Technologies (UBER Quick Quote UBER - Free Report) is scheduled to report third-quarter 2020 earnings numbers on Nov 5, after market close. November 5, 2020 November 5, 2020. Explore the Driver app resources that put you in charge and help you make the most of your time. We started in 2010 to solve a simple problem: how do you get access to a ride at the touch of a button? Adjusted revenues were … A Division of NBCUniversal. Share. Accordingly, we believe that Adjusted EBITDA provides useful information to investors and others in understanding and evaluating our operating results in the same manner as our management team and board of directors. We define Adjusted EBITDA as net income (loss), excluding (i) income (loss) from discontinued operations, net of income taxes, (ii) net income (loss) attributable to non-controlling interests, net of tax, (iii) provision for (benefit from) income taxes, (iv) income (loss) from equity method investments, (v) interest expense, (vi) other income (expense), net, (vii) depreciation and amortization, (viii) stock-based compensation expense, (ix) certain legal, tax, and regulatory reserve changes and settlements, (x) goodwill and asset impairments/loss on sale of assets, (xi) acquisition and financing related expenses, (xii) restructuring and related charges and (xiii) other items not indicative of our ongoing operating performance, including COVID-19 response initiative related payments for financial assistance to Drivers personally impacted by COVID-19, the cost of personal protective equipment distributed to Drivers, Driver reimbursement for their cost of purchasing personal protective equipment, the costs related to free rides and food deliveries to healthcare workers, seniors, and others in need as well as charitable donations. Uber Announces Results for Third Quarter 2020, https://www.businesswire.com/news/home/20201105006016/en/. The historical results of the former Other Bets segment are included within the All Other caption. All Other (formerly our Other Bets segment) also included Transit, UberWorks and our Incubator group. We have included these non-GAAP financial measures because they are key measures used by our management to evaluate our operating performance. Uber reported its Q3 2020 earnings after the closing bell on Thursday, beating analysts’ expectations on solid growth from its Eats business.Still, the impact of the ongoing coronavirus pandemic continues to be a concern for Uber’s main Rides business, which fell short of analysts’ forecasts.. 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. You can sign up for additional alert options at any time. The payments for financial assistance to Drivers personally impacted by COVID-19 and Driver reimbursement for their cost of purchasing personal protective equipment are recorded as a reduction to revenue. Uber shares had skyrocketed on Wednesday and continued climbing Thursday ahead of earnings, after the company's proposed ballot measure, Proposition 22, won voters' support in California elections. Excess Driver incentives refer to cumulative payments, including incentives but excluding Driver referrals, to Drivers that exceed the cumulative revenue that we recognize from Drivers with no future guarantee of additional revenue. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. We define each segment’s Adjusted EBITDA as segment revenue less the following direct costs and expenses of that segment: (i) cost of revenue, exclusive of depreciation and amortization; (ii) operations and support; (iii) sales and marketing; (iv) research and development; and (v) general and administrative. By providing your email address below, you are giving consent to Uber Technologies Inc. to send you the requested investor email alert updates. Posted on November 5, 2020 It was an eventful week for Uber. Adjustments to reconcile net loss to net cash used in operating activities: Gain on extinguishment of convertible notes and settlement of derivatives, Unrealized (gain) loss on debt and equity securities, net, Impairments of goodwill, long-lived assets and other assets. Key highlights from Uber (UBER) Q3 2020 earnings results Earnings reports to watch for the week of Nov. 2 Uber Technologies, Inc. (UBER) Q2 2020 Earnings Call Transcript 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. 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. Driver referrals. Mobility Adjusted Net Revenue reconciliation: Delivery Adjusted Net Revenue reconciliation: Net loss attributable to non-controlling interests, net of tax, Legal, tax, and regulatory reserve changes and settlements, Payroll tax on IPO stock-based compensation, Goodwill and asset impairments/loss on sale of assets, Acquisition, financing and divestitures related expenses, Accelerated lease costs related to cease-use of ROU assets, Restructuring and related charges (credits), View source version on businesswire.com: Uber Technologies last posted its quarterly earnings data on November 5th, 2020. Uber lost over a billion dollars in the third quarter of 2020, but its revenues are not as depressing as earlier this year. Contents: Prepared Remarks; Questions and Answers; Call Participants; Prepared Remarks: Operator. The cost of personal protective equipment distributed to Drivers, the costs related to free rides and food deliveries to healthcare workers, seniors, and others in need as well as charitable donations are recorded as an expense in our costs and expenses. Management views Driver incentives and Driver referrals as Driver payments in the aggregate, whether they are classified as Driver incentives, excess Driver incentives, or Driver referrals. These COVID-19 response initiatives are recorded as a reduction to revenue. Q3 Earnings Recap Uber Technologies reported Q3 earnings per share at $-0.62/share, which beat analyst predictions of $-0.65/share. November 5, 2020. Accordingly, we believe that these non-GAAP financial measures provide useful information to investors and others in understanding and evaluating our operating results in the same manner as our management team and board of directors. Forward-looking statements include all statements that are not historical facts and can be identified by terms such as “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “hope,” “intend,” “may,” “might,” “objective,” “ongoing,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will,” or “would” or similar expressions and the negatives of those terms. We define Trips as the number of completed consumer Mobility or New Mobility rides and Delivery meal or grocery deliveries in a given period. By PYMNTS. Share. Learn how earnings and deposits work when you drive with Uber. Q3 Earnings Recap Uber Technologies reported Q3 earnings per share at $-0.62/share, which beat analyst predictions of $-0.65/share. Driver referrals refer to payments that we make to existing Drivers to refer new Drivers onto our platform. Driver incentives refer to payments that we make to Drivers, which are separate from and in addition to the Driver’s portion of the fare paid by the consumer after we retain our service fee to Drivers. SAN FRANCISCO--(BUSINESS WIRE)-- Freight Adjusted Net Revenue, ATG and Other Technology Programs Adjusted Net Revenue and Other Bets Adjusted Net Revenue (prior to the second quarter of 2020) are equal to GAAP net revenue in all periods presented. “Freight Adjusted Net Revenue,” “ATG and Other Technology Programs Adjusted Net Revenue,” and “All Other Adjusted Net Revenue” (prior to the second quarter of 2020 our Other Bets segment) are equal to GAAP net revenue in all periods presented. 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.