UBER投資關(guān)系PPT：公司即將迎來(lái)盈利

1、2To supplement our financial information, which is prepared and presented in accordance with generally accepted accounting principles in the United States of America, or GAAP, we use the following non-GAAP financial measures: Adjusted Net Revenue; Rides Adjusted Net Revenue; Eats Adjusted Net Revenu

2、e; Adjusted EBITDA, Adjusted EBITDA as percentage of Adjusted Net Revenue, and Adjusted Costs and expenses, as well as Adjusted Net Revenue, Rides Adjusted Net Revenue and Eats Adjusted Net Revenue growth on a constant currency basis.The presentation of this financial information is not intended to

3、be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP. We use these non-GAAP financial measures for financial and operational decision-making and as a means to evaluate period-to-period comparisons. We believe that

4、 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 believe that both management and investors benefit from referring to these non-GAAP finan

5、cial measures in assessing our performance and when planning, forecasting, and analyzing future periods. These non-GAAP financial measures also facilitate managements internal comparisons to our historical performance. We believe these non-GAAP financial measures are useful to investors both because

6、 (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.There are a number of limitations re

7、lated to the use of non- GAAP financial measures. In light of these limitations we provide specific information regarding the GAAP amounts excluded from these non-GAAP financial measures and evaluating these non-GAAP financial measures together with their relevant financial measures in accordance wi

8、th GAAP.For more information on these non-GAAP financial measures, please see the section titled “Non-GAAP Reconciliations” included at the end of this deck. In regards to forward looking guidance provided on our Q4 2019 earnings call, we are not able to reconcile the forward-looking non-GAAP Adjust

9、ed EBITDA measure to the closest corresponding GAAP measure without unreasonable efforts because we are unable to predict the ultimate outcome of certain significant items. These items include, but are not limited to, significant legal settlements, tax and regulatory reserve changes, restructuring c

10、osts and acquisition and financing related impacts.Non-GAAP Financial Measures Disclosure3Forward Looking StatementsThis presentation contains forward-looking statements regarding our future business expectations, which involve risks and uncertainties. Actual results may differ materially from the r

11、esults predicted, and reported results should not be considered as an indication of future performance. 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,” “ex

12、pect,” “hope,” “intend,” “may,” “might,” “objective,” “ongoing,” “plan,”“potential,” “predict,” “project,” “should,” “target,” “will,” or “would” or similar expressions and the negatives of those terms.Forward-looking statements involve known and unknown risks, uncertainties and other factors that m

13、ay 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. These risks, uncertainties and other factors relate to, among others: competition, managing our growth and

14、corporate culture, financial performance, investments in new products orofferings, our ability to attract drivers, consumers and other partners to our platform, our brand and reputation and other legal and regulatory developments. In addition, other potential risks and uncertainties that could cause

15、 actual results to differ from the results predicted include, among others, those risks and uncertainties included under the captions “Risk Factors” and “Managements Discussion and Analysis of Financial Condition and Results of Operations” in our prospectus filed with the Securities and Exchange Com

16、mission pursuant to Rule 424(b) under the Securities Act of 1933, as amended, on May 13, 2019 and our Quarterly Report on Form 10-Q for the quarter ended September 30, 2019. All information provided in this presentation is as of the date hereof and any forward-looking statements contained herein are

17、 based on assumptions that we believe to be reasonable as of such date. We undertake no duty to update this information unless required by law.Contents01 Uber today What we do & where were goingRides Undisputed global leaderEats Following the path of RidesOther businesses Bets in transformational in

18、dustriesPath to profitabilityAs of FYE19, unless otherwise notedUber todayA global tech platform at massive scaleServing multiple multi-trillion dollar markets with products leveraging our core technology and infrastructure69900+CountriesCities1RidesEatsNew MobilityFreightATGElevate1. Based on our i

19、nternal definition of city, which includes metropolitan areas that include several cities16171819Gross Bookings, Trips are FY 2019. MAPCs, Drivers are as of Q4 2019.Gross Booking YoY growth rates shown in constant currencyMonthly Active Platform Consumers$65B$50B$34B$19BGross Bookings50% CAGRGross B

20、ookings+$15B / 35%1 YoY Growth7BTrips+1.7B / 32% YoY Growth$65B111MMAPCs2+20M / 22% YoY Growth5MDriversUnparalleled growth at scale with significant, loyal monthly active users across multiple products & segmentsLeading technologyDifferentiated, proprietary demand prediction, dispatching, matching,

21、pricing, routing, and payments technologies are utilized across all segmentsOperational excellenceRegional on-the-ground operations enable better support for platform users, enhance relationships with cities and regulators, and accelerate new product launchesMassive networkMassive, efficient, and in

22、telligent; our network becomes smarter with every trip, utilizing data to power movement at the touch of a buttonBrand recognitionNamed a top 100 brand; leverage brand and reach to launch and scale new businessesProduct expertiseSet the standard for powering on- demand movement, and provide users wi

23、th a safe, intuitive, and continuously improving experienceScale efficiencyOur global scale provides significant operational cost and efficiency advantagesLeveraging our unique platform assets to launch, scale, and optimize our businessesThe one-stop shop & operating system for modern city lifeMobil

24、ityFood deliveryPlatformSignificant progress achieved since IPOContinued growth at scale in 2019 with Gross Bookings and Adjusted Net Revenue growing $15B and $2.6B YoY, respectivelyImproved or maintained leadershipposition in key Rides and Eats marketsIncreased Take Rate from 19% in Q1 to 21% in Q4

25、Improved Adjusted EBITDA marginas a % of Adjusted Net Revenue from (31%) in Q1 to (16%) in Q4; Rides Segment Adjusted EBITDA of $742M coveredCorporate G&A and Platform R&D by $98MContinued product innovation to improve loyalty (Rewards), access new customer segments (Comfort), and provide leading sa

26、fety featuresIncreased reporting transparency by reporting Gross Bookings, Adjusted Net Revenue, and EBITDA for our 5 business segments starting in Q3Rides76%Of 2019 Gross BookingsUndisputed global leader#1 in every major region in which we operateRegionCategory position1US & CALatAM Europe ANZ MEAI

27、ndia 65% 65% 65% 65% 65% 50%RegionOwnership stakeRussia / CIS Southeast Asia China37% of Yandex Taxi19% of Grab15% of DidiPercentages are based on our internal estimates of Gross Bookings using available information as of Jan 31, 2020Includes countries acquired as part of Careem acquisitionOwned ope

28、rations2Minority owned affiliatesRides revenue growth is accelerating and Rider engagement remains strongGross BookingsAdjusted Net Revenue+20%+32%5.7Average monthly trips / RiderQ4 18Q4 19$13.5B$11.5BQ4 18Q4 19$3.0B$2.3B1. Growth rates shown in constant currencyHigh-value products & use casesHigh-p

29、otential growth markets (GDP global rank)4xHigh potential markets delivered 4x overall Rides Gross Bookings growth in Q42Sustainable low-cost productsWe have a roadmap to deliver sustainable, profitable long-term growth#3 Japan#4 Germany#8 Italy#12 South Korea#13 Spain#29 Argentina$1.2BUber for Busi

30、ness Gross Bookings in Q4Moto54%Q4 YoY Premium Gross Bookings growth300%Q4 YoY Uber Health Gross Bookings growthShared RidesTukTuk+800bpsQ4 YoY Shared Rides Take Rate improvementGrowth rates shown in constant currencyExcludes ItalyRides segment is already profitable, with room for margin expansionTa

31、ke RateANR %GBSegment Adjusted EBITDA%ANRTake Rate ImprovementPremium category growth and a focus on profitable shared rides driving healthier revenuesOperating EfficiencyCost structure improvements across the P&LMarketing Spend RationalizationRationalizing incentives and improving marketing ROILong

32、-Term45.0%Q4 18Q4 19Long-Term25.0%Q4 18Q4 190.0%24.4%8.3%Countries representing25% of Gross Bookings have already achieved the long-term target22.5%20.4%EatsFollowing the path of Rides22%Of 2019 Gross BookingsEats operational platform advantagesAccess to world-class marketplace technology Routing, d

33、ispatching, dynamic pricing, payments, etc.Worldwide operations Leveraging in-place local infrastructureBrand awarenessUber is one of the most recognizablebrands in the worldLarge installed base111M MAPCs across the platformEats financial model advantagesLarger average order sizeThe average Eats ord

34、er is 50% larger than bookings from average Rides tripLower insurance costsEats insurance costs as a percentage of Gross Bookings are 1/5th that of RidesPlatform cost leverageScaled operational costs across Eats and Rides; converting Riders to Eaters at a low cost3.5710.514Eats is following the Ride

35、s playbookTAM: $2.8TAll countries Retail restaurantsSAM: $795BAll countries Home delivery, takeaway & drive- through from retail restaurantsInvested in a massive market opportunity02.557.510M1M12M24M36M48RidesEatsRun-rate Gross Bookings ($B)20192018Grubhub Just Eat020162017Uber Eats T Delivery HeroA

36、nnual Run Rate Gross Bookings ($B)Eats 1010 Nov18Rides 1010 Sep15Leveraged existing infrastructure brand, operations, and technology to expand rapidlyAnd built the largest food delivery company in the world, excluding ChinaCommitted to being #1 or #2 in every market we serve2019 investment yielded s

37、trong resultsStrategically exploring alternatives to bolster EatsAcquiring majority stake in Cornershop1Divested India Eats to ZomatoExited South Korea9.5%6.4%25+Countries where Uber is #1 / #2; represents a significant majority of Gross BookingsIncludes: US, UK, France, Mexico, Japan, Australia1.Pe

38、nding regulatory approval and successful tender offer.Take RateANR %GB+310bpsQ4 18Q4 19Improving Financial ProfileStrengthened Product OfferingExploring Platform SynergiesEnhanced restaurant selection by over 60% YoYEnabled new delivery modalities(pickup, BYOC, 3rd party native apps)Launched subscri

39、ptionsSuper-appRewardsUS Case Study: Investment Yielding Promising ResultsTake RateANR %GB+500bps1. Logos shown are signed deals that will be going live in the Uber App in 2020Q4 18Q4 19Achieved mid-teens Take RateOn the road to deliver long-term margin targetsSegment Adjusted EBITDA%ANRTake RateANR

40、 %GBLong-term targets15%30%Take Rate ImprovementCost efficiencies from operational scale benefits and product enhancements; exploring high margin monetization opportunities (e.g. ads)Operational EfficiencyLeveraging benefits of scale and technology improvements to reduce operational and marketing co

41、stsMarketing Spend RationalizationNormalization of promo and other marketing related activity across key marketsFreight / New Mobility / ATG1%Of 2019 Gross BookingsBets in transformational industriesResponsible expansion, heavy focus on unit economicsDisciplined investment iI n Freight & other betsF

42、reightInvesting in a massive market opportunity to build the most reliable logistics on-demand networkLeveraging Ubers Brand, tech & product infrastructure, and global footprint to launch and scale$1.3T TAM across the US and EuropeNew MobilityInvesting in micromobility and to provide riders with a f

43、ull set of transportation options to meet their needs within a single Uber appSynergies with the core platform: benefits to acquisition and engagementSignificant opportunity: trips under 3 miles are46% of US nationalvehicle trips$876MQ4 19 Freight ANR run-rate$140MQ4 19 Other Bets ANR run-rateATG: S

44、trategic investment in autonomyClear path to monetizationIndustry experts in artificial intelligence & roboticsHighly specialized & experienced with multi-domain backgrounds1500+ person teamWorld class team & partnersAdvanced technologySophisticated & proprietary hardware, software, and industry lea

45、ding R&DAV mapping & operational domain (OD) characterization in 5 cities for autonomy simulation & testingNo Vehicle Operator (NVO) test operation on private test trackDirect exposure to a massive and growing TAMUnique integration to the Uber network with multiple opportunities for monetization on

46、& off the networkATG: Strategic partnerships for scaleSeparate entity with external funding$1B raised from Toyota, Denso, & Softbank in 2019 with ability to raise future capitalKey strategic partnersDeep integration with Toyota, Volvo, and Denso for de-risked path to commercializationToyota team co-

47、located in Pittsburgh, accelerating development and deployment of automated ridesharing services through deep collaborationLeveraging OEM and Tier1 mass production capability & safety systemsToyota vehicle is illustrative representationDriver partners remain the majority of supply until SDVs can off

48、er competitive safety, price, availability, and reliability.ATG has the unique ability to introduce SDVs intelligently and gradually while maintaining liquidity.ATG is uniquely well suited for the hybrid periodIntelligentlyGraduallyDriversHybridAutomatedPath to profitabilityContinue trajectory to 20

49、21 breakeven(8%)(16%)(17%)(23%)(31%)25%Adjusted EBITDA, % ANRPath to achieving profitability in 2021Q1 19Q2 19Q3 19Q4 1920202021Long-term+ Consecutive QoQ marginimprovement+ Rides improving performance in top markets and cost reduction-Eats competition remains elevated globallyInvest in high margin

50、and sustainable low cost productsAcquire and deepen engagement with highest value platform consumersExercise incentive and fixed cost discipline, leverage economies of scaleDriving improvement across the P&L through 2021Invest in product and technology innovation to continuously improve user experie

51、nce and operational efficiencyOther$0.3B$1.2B$2.3B$8.0BEquity StakesLiquidity Position$10.9BSufficient liquidity to reach profitability in 2021Unrestricted Cash$11.8B1. Amounts as of FYE 2019$11.3BST InvestmentsNon-GAAPreconciliationsQ4 2019 Earnings31Select Non-GAAP Expenses and Other Line Items(Un

52、audited)$ in MillionsTotal Non-GAAP Costs and Expenses$3,493$3,630$3,791$4,118$4,345Adjusted EBITDA($817)($869)($656)($585)($615)Three Months EndedDec 31 18Mar 31 19Jun 30 19Sep 30 19Dec 31 19Adjusted Net Revenue$2,644$2,761$2,873$3,533$3,730Contra Revenue: Legal, tax, and regulatory reserve changes

53、 and settlements & Driver appreciation award32Non-GAAP Costs and Expenses-262-Cost of revenue, exclusive of depreciation and amortization1,3231,3781,4761,6011,605Operations and support404433450470481Sales and marketing9331,0049741,0631,217Research and development361406454466468General and administra

54、tive472409437518574Q4 2019 EarningsExcessDec 31 19DriverDriverRestructuringDepreciationStock-BasedDec 31 19 GAAPIncentivesReferralsCharges& AmortizationCompensationNon-GAAPRevenue to Adjusted Net Revenue$4,069($322)($17)-$3,730Contra Revenue: Legal, tax, and regulatory reserve changes and settlement

55、s-Costs and expensesCost of Revenue, exclusive of depreciation and amortization shown separately below1,927(322)-1,605Operations and support506-(2)-(23)481Sales and marketing1,251-(17)(4)-(13)1,217Research and development608-(4)-(136)468General and administrative647-(2)-(71)574Depreciation and amort

56、ization101-(101)-Total costs and expenses$5,040($322)($17)($12)($101)($243)$4,345Loss from operations($971)-$12$101$243($615)32GAAP to Non-GAAP Reconciliation: Q4 19(Unaudited)$ in MillionsThree Months EndedQ4 2019 EarningsAssetLegal, Tax,ExcessImpairment /and RegulatoryDec 31 18DriverDriverLoss on

57、SaleReserves andDepreciationStock-BasedDec 31 18 GAAPIncentivesReferralsof AssetsSettlements& AmortizationCompensation Non-GAAPRevenue to Adjusted Net Revenue$2,974($292)($38)-$2,644Contra Revenue: Legal, tax, and regulatory reserve changes and settlements-32-32Costs and expensesCost of Revenue, exc

58、lusive of depreciation and amortization shown separately below1,615(292)-1,323Operations and support408-(4)404Sales and marketing974-(38)-(3)933Research and development366-(5)361General and administrative555-(70)-(13)472Depreciation and amortization109-(109)-Total costs and expenses$4,027($292)($38)

59、($70)-($109)($25)$3,493Loss from operations($1,053)-$70$32$109$25($817)33GAAP to Non-GAAP Reconciliation: Q4 18(Unaudited)$ in MillionsThree Months EndedQ4 2019 Earnings34GAAP to Non-GAAP Reconciliations (Unaudited)Three Months EndedDec 31 18Mar 31 19Jun 30 19Sep 30 19Dec 31 19Revenue$2,974$3,099$3,

60、166$3,813$4,069Excess Driver incentives(292)(303)(263)(259)(322)Driver referrals(38)(35)(30)(21)(17)Adjusted Net Revenue$2,644$2,761$2,873$3,533$3,730GAAP Cost of Revenue1,6151,6811,7401,8601,927Excess Driver incentives(292)(303)(263)(259)(322)Legal, tax, and regulatory reserve changes and settlemen