Professional Documents
Culture Documents
2021 Investor
All Hands
Presentation
February 10, 2021
Non-GAAP Financial Measures Disclosure
To supplement our financial information, which is prepared and future periods. These non-GAAP financial measures also
presented in accordance with generally accepted accounting facilitate management’s internal comparisons to our historical
principles in the United States of America, or GAAP, we use the performance. We believe these non-GAAP financial measures
following non-GAAP financial measures: Adjusted EBITDA, are useful to investors both because (1) they allow for greater
Adjusted EBITDA as percentage of revenue, and Adjusted transparency with respect to key metrics used by management
Costs and expenses. The presentation of this financial in its financial and operational decision-making and (2) they are
information is not intended to be considered in isolation or as a used by our institutional investors and the analyst community to
substitute for, or superior to, the financial information prepared help them analyze the health of our business.
and presented in accordance with GAAP. We use these
non-GAAP financial measures for financial and operational There are a number of limitations related to the use of non-
decision-making and as a means to evaluate period-to-period GAAP financial measures. In light of these limitations we provide
comparisons. We believe that these non-GAAP financial specific information regarding the GAAP amounts excluded
measures provide meaningful supplemental information from these non-GAAP financial measures and evaluating these
regarding our performance by excluding certain items that non-GAAP financial measures together with their relevant
may not be indicative of our recurring core business financial measures in accordance with GAAP.
operating results.
For more information on these non-GAAP financial measures,
We believe that both management and investors benefit from please see the section titled “Non-GAAP Reconciliations”
referring to these non-GAAP financial measures in assessing included at the end of this deck.
our performance and when planning, forecasting, and analyzing
2
Forward Looking Statements
This presentation may contain forward-looking statements growth and corporate culture, financial performance,
regarding our future business expectations, which involve risks investments in new products or offerings, our ability to attract
and uncertainties. Actual results may differ materially from the drivers, consumers and other partners to our platform, our
results predicted, and reported results should not be brand and reputation and other legal and regulatory
considered as an indication of future performance. Forward- developments and proceedings, particularly with respect to
looking statements include all statements that are not historical our relationships with drivers and delivery persons. In addition,
facts and can be identified by terms such as “anticipate,” other potential risks and uncertainties that could cause actual
“believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” results to differ from the results predicted include, among
“hope,” “intend,” “may,” “might,” “objective,” “ongoing,” “plan,” others, those risks and uncertainties included under the
“potential,” “predict,” “project,” “should,” “target,” “will,” or “would” captions “Risk Factors” and “Management’s Discussion and
or similar expressions and the negatives of those terms. Analysis of Financial Condition and Results of Operations” in our
Forward-looking statements involve known and unknown risks, most recent quarterly report on Form 10-Q for the quarter
uncertainties and other factors that may cause our actual results, ended September 30, 2020 and subsequent annual reports,
performance or achievements to be materially different from quarterly reports and other filings filed with the Securities and
any future results, performance or achievements expressed or Exchange Commission from time to time. All information
implied by the forward-looking statements. These risks, provided in this presentation is as of the date hereof and any
uncertainties and other factors relate to, among others: the forward-looking statements contained herein are based on
outcome of a legal appeal in the UK regarding the classification assumptions that we believe to be reasonable as of such date.
of Drivers and a related tax case before the UK tax authority, We undertake no duty to update this information unless
developments in the COVID-19 pandemic and the impact on required by law.
our business and operations, competition, managing our
3
Contents
2020 Review
Strong execution in
a challenging environment
2020 was a year
like no other.
We moved rapidly to focus the company towards
growth opportunities while securing our future
Jan’ 20 Apr’ 20 Jul’ 20 Sep’ 20 Nov’ 20
Careem acquisition closed Uber Direct and Uber Postmates acquisition $500 million Senior Notes Proposition 22 passes
Connect launched announced refinancing in California
Divested Uber Eats in India for
ownership stake in Zomato Grocery expansion begins Uber Freight in Europe divested Uber Reserve launched
for ownership stake in Sennder
Acquired Routematch
Uber found “fit and proper”
to operate in London
10.9 50
10.2 10.1
8.6
7.0 (183) (145)
6.8 (232)
5.9 (313)
4.7
(454)
3.0
(612) (625)
(837)
Q1'20 Q2'20 Q3'20 Q4'20 Q1'20 Q2'20 Q3'20 Q4'20
We supported We supported
We put drivers & delivery people our communities
safety first… by committing... by committing…
to help make sure that transportation to be prioritized with other frontline Uber’s partnerships so far include
is not a barrier to getting the vaccine workers for vaccine access Moderna and Walgreens
More to come...
02
Uber today
Global platform addressing
a massive opportunity
Unlocking a massive market
$5T+
All passenger vehicle
$5T+
Global spend on Retail
$3.8T
Global trucking
& public transport trips restaurants, Home Delivery, logistics costs
in 175 countries Takeaway, Drive Thru, Eat-in
Grocery spend in
markets serviced
Please see Uber’s S-1 for more details on Mobility, Food Delivery and Freight TAM definitions, as well as details on Serviceable Addressable Market (SAM).
Grocery TAM of $2.7T is defined as 2020 total consumer spend on grocery in markets serviced.
Uber Mobility
#1 in every major region
in which we operate
$58B 93M
Gross Bookings
-11
% 2
Yo
Y MAPCs
3
$65B Delivery +66% YoY
R
C AG $58B
Gross Bookings
0 % $50B Delivery +109% YoY 1
3.5M
5
$34B
5B
Drivers
$19B
675K
'16 '17 '18 '19 '20 Trips Merchants
Gross Bookings, Trips are FY 2020. MAPCs, Drivers, Merchants are as of Q4 2020
1. Gross Booking YoY growth rates shown in constant currency
2. Monthly Active Platform Consumers
3. YoY growth excluding exited markets
Leveraging our unique assets to launch,
scale, and optimize our businesses
Leading technology Product expertise Massive network
Differentiated, proprietary demand Set the standard for powering Massive, efficient, and intelligent;
prediction, dispatching, matching, on-demand movement, and provide our network becomes smarter
payments, pricing, routing, and users with a safe, intuitive, and with every trip, utilizing data to
safety technologies are utilized continuously improving experience power movement at the touch
across all segments of a button
Shared driver/
Shared components courier app
experiment, maps Uber Eats integration
services, safety etc. on Uber app
Common U4B
Trip fulfillment features for Mobility
platform Common and Delivery
tech
Membership a key priority in 2021
Competitively differentiated and strong consumer proposition
5M+
Members as of 2020*
Launched in 16 countries in
2020, rolling out to more
geographies in 2021
* As of 12/31/2020
Redesigned Uber
app improves cross
platform usage
Redesigned app rolled
out globally to iOS in Q3
and Android in Q4 2020
Uber app drove over 10%
of Uber Eats first time trips
in Q4 2020, and well over
$1 billion of run-rate
Delivery Gross Bookings
Uber continues to lead Mobility & Delivery
app downloads globally
Mobility Delivery
03
Mobility
Undisputed global leader
46% Of 2020
Gross Bookings
Rigorous cost management
drove improving profitability
Mobility Gross Bookings Mobility Adjusted EBITDA Mobility delivered positive
($B), %’s YoY* ($M) EBITDA through 2020
with healthy incremental
margins from the bottom
15 800 6%
20%
22%
0
0
in Q2 despite significant
25%
topline headwinds
0
29% (3)%
600
4%
0
10
0
(47)% 400
As Mobility continues
(50)%
2% to recover, we expect
5
(73)% 200
0
2/29: 11/19:
Public schools close
40000
120% First reported (reopen 12/7 through
COVID-19 case in NYC end of Q4)
12/11:
32000 9/23: Indoor dining
90% 7-day positivity reaches banned
3/7:
3/17: 1.0% and continues to
Gov. Cuomo declares a grow throughout Q4
Uber’s “Pool” service is
24000 “State of Emergency” 6/8: 7/6:
suspended. Lyft and Via
in NY State NYC NYC Phase 3
60% follow suit shortly after. 9/21:
Phase 1 begins
In-person
16000 begins learning resumes
6/22: 9/30:
30% Indoor Dining
NYC Phase 2 begins.
8000 Resumes
Outdoor dining permitted.
1/13
1/13 1/27
1/27 2/10
2/10 2/24
2/24 3/9
3/9 3/23
3/23 4/6
4/6 4/20
4/20 5/4
5/4 5/18
5/18 6/1
6/1 6/15
6/15 6/29 7/13 7/27
7/27 8/10
8/10 8/24
8/24 9/7
9/7 9/21
9/21 10/5
10/510/19
10/19 11/2
11/2 11/16
11/1611/30
11/3012/14
12/14
Delivery
Global scale and local leadership
52% Of 2020
Gross Bookings
Delivery is following the Mobility playbook
Run-rate Gross Bookings* Run-rate Gross Bookings^
($B) ($B)
50 50
Delivery $40B
Nov’20
40 40
Delivery $30B
30 May’20 30
20 Mobility $30B 20
Sep’15
Delivery $10B
10 Nov’18 10
Mobility $10B
Sep’15
0 0
M1 M10 M20 M30 M40 M50 M60 M70 1Q16 1Q17 1Q18 1Q19 Q120
Mobility GBs Delivery GBs Uber Delivery Grubhub Just Eat Takeaway
Delivery Hero DoorDash
Leveraged existing infrastructure brand, operations, And built the largest food delivery company in
and technology to expand rapidly the world, excluding China
*Annualized Gross Bookings run-rate based on monthly gross bookings
^Annualized Gross Bookings run-rate based on quarterly Gross Bookings; 2020 Gross Bookings annualized from reported Gross Bookings/Gross Food Sales/Gross Merchandise Value/Gross Order Value.
Delivery tapped into growth
opportunities while improving
In 2020, Delivery
saw strong structural
margins in 2020
tailwinds and Uber
executed to capture
outsized growth.
Delivery Gross Bookings Delivery Adjusted EBITDA
($B), %’s YoY 1 ($B), %’s YoY 1 At the same time, we
continued towards
0.0% segment EBITDA
12 0
128%
-0
135% (100) -0
-5.0%
8 113% markets EBITDA
(200)
-7.5% profitable in Q4’20.
54%
-0
73% (300)
4 117% 98% 77%
-10.0% We remain committed
-0
-0
(400)
to achieving Delivery
-0
-0
-12.5%
0 (500) EBITDA breakeven
Q1'19 Q2'19 Q3'19 Q4'19 Q1'20 Q2'20 Q3'20 Q4'20 Q1'19 Q2'19 Q3'19 Q4'19 Q1'20 Q2'20 Q3'20 Q4'20
in 2021.
Delivery Adj. EBITDA EBITDA Margin (% of GBs)
1. YoY %’s shown on a constant currency basis
Significant progress made in 2020
Investment markets
-3%
improved EBITDA margins by
$2.5B -5%
~+ 100% YoY a similar magnitude YoY, while
delivering 150% YoY growth.
-11%
Note: Profitable markets include the 15 markets that were Delivery EBITDA profitable in Q4’20, and investment markets represent the rest of Delivery’s existing footprint.
Gross Bookings and Adjusted EBITDA exclude exited markets.
Growth bets ramping in 2021
Grocery and New Verticals Uber Direct, Connect and Ads rolled out to six countries
exited 2020 at over $1.5B in Postmates DaaS addressing in 2020 and was adopted by
run-rate Gross Bookings additional delivery opportunities nearly 44k active restaurants
Grocery and
New Verticals
Over $1.5B annualized run-
rate Gross Bookings in Q4
2020 and we expect further
expansion in 2021.
Uber Direct
Uber Direct powers on-demand
local delivery of anything.
Frictionless and flawless.
Uber Direct, Connect and Postmates DaaS*
expand the opportunity beyond Uber’s
marketplace apps - improving utilization of
our courier network, and increasing selection
and choice for consumers.
* Delivery as a Service
05
Freight
Disrupting freight brokerage
2% Of 2020
Gross Bookings
Technology is accelerating
industry transformation
Outsourcing logistics to 3PL 1
Tech accelerating consolidation Freight is benefiting
3PL growing at double digits & rapidly Shippers streamlining from market tailwinds
taking share from private fleets vendors 3 and leading the tech
3PL Penetration of Total Freight Market 2 Market Share of Top Providers 4
transformation.
12% “Shippers now expect a
best-in-class digital
8% 100%
experience [...] Early ‘adapters’
who build liquidity will reap
4%
13%
CAGR
rewards in the form of
(2000-2018) valuable freight platforms” 5
35%
100%
25%
0%
=
2000 2003 2006 2009 2012 2015 2018 2007 2020E
$500M
Series A investment by Greenbriar
Equity Group expected to
further scale our offerings and
provide runway for continued
1. Enterprise segment defined as customers with at least $1B in revenue
product innovation
2. YoY growth rate based off fiscal year 2020 versus fiscal year 2019
06
Financial model
& equity
investments
Adjusted EBITDA Long-term target model
Achieve
quarterly Mobility achieved 30% EBITDA margin
profitability
pre-COVID, and we expect actions
Q1'19 0%
Q2'19 Q3'19
0% Q4'19 Q1'20
0% Q2'20 0%Q3'20 Q4'20
0% 20210%
taken in 2020 to drive structural margin
Long-term target
improvements in 2021 and beyond.
(14%)
(16%) (16%) a nd
(19%) e nt ity Delivery made significant EBITDA margin
(22%) e m bil
(23%) ag Mo rgin
n
a ing a improvements in 2020, even as Uber
m m
CO imp bil
st ngo ery
(31%) o
c ;O i v ts invested to address growth
VI act ity
e l
on
v s
ti ure d D en e
D-
o Q nt (44%) c
a tit opportunities. In Q4 2020, 15 of 32
P ives ry an rovem
M
ro
19
Q me
o
t
n ve
te Announced d ove imp Delivery markets were profitable. We
s is pro re c
o n m $1B+ in
C in i cost cuts remain committed to achieving Delivery
a rg
m segment EBITDA breakeven in 2021.
Healthy liquidity position, with equity stakes
providing further optionality
Liquidity Position Equity Stakes
$9.8B
$6.8B
$0.4B Other
$1.2B $1.2B
ST Investments $1.0B
$2.3B
* Amounts as of Q4 2020 and does not reflect sale of $207 million of Didi shares completed in Q1’21, and agreement to sell an additional $293 million of Didi shares that has not yet been completed.
If completed, the aggregate Didi shares sold in Q1’21 will represent approximately 8% of our Didi shares as of December 31, 2020.
Investments in leading Mobility and Delivery assets
Provides app-based transportation services, including taxi hailing, private car hailing, social ride-sharing and bike sharing;
on-demand delivery services; and automobile services, including sales, leasing, financing, maintenance, fleet operation, electric
vehicle charging and co-development of vehicles with automakers. Largest operator in China and operates globally.
~15% stake
Provides on-demand ride-hailing services for taxis, private cars, and motorbikes; food delivery; and financial services
via a mobile app. Currently the largest combined ridesharing and food delivery platform in South East Asia. ~16% stake
Provides on-demand ride-hailing services as well as food delivery services in Russia and CIS countries
with some presence in EU & Africa. Yandex has invested heavily in Grocery (Lavka) and car-sharing (Drive). ~35% stake
Provides a mobile-based restaurant discovery platform enabling users to rate and review restaurants and create personal networks
for recommendations; offers online ordering, food delivery, table reservations and premium restaurant subscription services;
and began grocery delivery amid the COVID-19 outbreak. Leading food delivery operator in India and operates globally.
<10% stake
Provides a micro-mobility sharing platform offering dock-free electric scooters, electric bikes, electric mopeds, and normal
pedal bikes. Users find and unlock dockless vehicles via a mobile app which knows the location of available vehicles via GPS.
Lime is the largest player in the shared micro-mobility space globally.
~23% stake
* Ownership stakes as of December 31, 2020 before adjusting for employee options, if any, and based on amount of shares invested.
Investments in advanced technologies
~26%
Developer of autonomous vehicle technology designed to create self-passenger vehicles, light commercial vehicles,
stake1
and heavy-duty trucks across a range of applications. The company's uses advanced machine learning software and
multiple sensor hardware to deliver the benefits of self-driving technology safely, quickly, and broadly.
Developer of fully electric vertical take-off and landing (eVTOL) passenger aircraft optimized to deliver air-transportation-as-a-
service. The company leverages composite airframe design and fabrication, aerodynamic analysis, electric motor development, *
and battery pack design to develop aircraft with zero-emissions.
Board &
Sustainability
Diverse and Experienced Board
Ronald Sugar (Chair) Revathi Advaithi Ursula Burns Robert Eckert Amanda Ginsberg
Former Chairman & CEO, CEO, Former Chairman and CEO, Partner, FFL Partners; Former Former CEO,
Northrop Grumman Flex Ltd. VEON CEO, Mattel Match Group
Age: 72 Age: 53 Age: 62 Age: 66 Age: 51
Board Tenure: Since Jul’ 18 Board Tenure: Since Jul’ 20 Board Tenure: Since Oct’ 17 Board Tenure: Since Mar’ 20 Board Tenure: Since Feb’ 20
Committees: Nominating & Committees: Audit Committees: Nominating & Committees: Nominating & Committees: Audit
Governance (Chair); Compensation Governance; Audit Governance; Compensation
Dara Khosrowshahi Wan Ling Martello H.E. Yasir Al-Rumayyan John Thain David Trujillo
CEO, Co-Founder & Partner, BayPine; Governor, Saudi Arabia’s Public Former Chairman and CEO, Partner,
Uber Technologies Former EVP, Nestle Investment Fund CIT Group TPG Capital
Age: 51 Age: 62 Age: 50 Age: 65 Age: 45
Board Tenure: Since Sep’ 17 Board Tenure: Since Jun’ 17 Board Tenure: Since Jun’ 16 Board Tenure: Since Oct’ 17 Board Tenure: Since Jun’ 17
Committees: None Committees: Nominating & Committees: Audit Committees: Audit (Chair) Committees: Nominating & Governance;
Governance; Compensation Compensation (Chair)
Diverse and Board Profile
committed to
delivery person equity, inclusion
Impact
well-being & culture
sustainability
as we reimagine the way the world Platform Ethics COVID-19
moves for the better and work to safety & compliance response
make real life easier to navigate
for everyone.
User Climate
Cybersecurity
privacy change
Selected 2021
ESG commitments & priorities
Learn more about our approach to these issues in Uber’s 2020 ESG Report and on our website.
Non-GAAP
reconciliations
Adjusted EBITDA Reconciliation (Unaudited)
$ in Millions
Three Months Ended
Dec 31 ‘19 Mar 31 ‘20 Jun 30 ‘20 Sep 30 ‘20 Dec 31 ‘20
Note: In the second quarter of 2020, Other Bets, which previously consisted of the Company’s JUMP business whose divestiture was announced in May, is no longer a reportable segment.
Q4 2020 Earnings Historical results of the former Other Bets segment are included within All Other.
GAAP to Non-GAAP Reconciliations
(Unaudited)
$ in Millions
Three Months Ended
Dec 31 ‘19 Mar 31 ‘20 Jun 30 ‘20 Sept 30 ‘20 Dec 31 ‘20
Acquisition, financing and divestitures related expenses - (5) (10) (2) (1)
Q4 2020 Earnings
Continued:
Dec 31 ‘19 Mar 31 ‘20 Jun 30 ‘20 Sept 30 ‘20 Dec 31 ‘20
Legal, tax, and regulatory reserve changes and settlements - (19) (5) - 117
Q4 2020 Earnings
Net Income (loss) and Adjusted EBITDA
as a % of Revenue
$ in Millions
Dec 31 ‘19 Mar 31 ‘20 Jun 30 ‘20 Sep 30 ‘20 Dec 31 ‘20
Net income (loss) attributable to Uber Technologies, Inc. (1,096) (2,936) (1,775) (1,089) (968)
Net income (loss) as a percentage of Revenue (29.3%) (90.4%) (92.8%) (38.7%) (29.3%)
Q4 2020 Earnings