Uber Technologies: Announces Results for Q1-2021

San Francisco / CA. (uber) Uber Technologies Inc. announced financial results for the quarter ended March 31, 2021. Financial highlights for the quarter:

  • Gross Bookings grew 24 percent year-over-year (YoY) to USD 19.5 billion, or 22 percent on a constant currency basis, with Mobility Gross Bookings of USD 6.8 billion (-38 percent YoY) and Delivery Gross Bookings of USD 12.5 billion (+166 percent YoY).
  • Revenue of USD 2.9 billion and Mobility Revenue of USD 853 million were reduced by a USD 600 million accrual made for the resolution of historical claims in the UK relating to the classification of drivers. Delivery Revenue of USD 1.7 billion grew 28 percent QoQ and 230 percent YoY.
  • Revenue, excluding the UK accrual, of USD 3.5 billion grew 11 percent QoQ and 8 percent YoY, and Mobility Revenue, excluding the UK accrual, of USD 1.5 billion declined 1 percent QoQ and 41 percent YoY.
  • Net loss attributable to Uber Technologies Inc. was USD 108 million, which includes USD 281 million in stock-based compensation expense. Net loss benefited from a USD 1.6 billion gain from the divestiture of ATG, partly offset by the USD 600 million UK accrual.
  • Adjusted Ebitda of USD (359) million improved by USD 95 million QoQ and by USD 253 million YoY, representing a (1.8) percent margin as a percentage of Gross Bookings and a (12.4) percent margin as a percentage of revenue.
  • Mobility Adjusted Ebitda of USD 298 million, up USD 5 million QoQ and down USD 283 million YoY, representing 4.4 percent margin as a percentage of Mobility Gross Bookings and a 34.9 percent margin as a percentage of Mobility Revenue (20.5 percent margin as a percentage of Mobility Revenue excluding the UK accrual).
  • Delivery Adjusted Ebitda of USD (200) million, down USD 55 million QoQ but up USD 113 million YoY, representing a (1.6) percent margin as a percentage of Delivery Gross Bookings and a (11.5) percent margin as a percentage of Delivery Revenue.
  • Unrestricted cash, cash equivalents and short-term investments were USD 5.7 billion at the end of the first quarter.

«Uber is starting to fire on all cylinders, as more consumers are riding with us again while continuing to use our expanding delivery offerings,» said Dara Khosrowshahi, CEO. «We will continue to innovate and find new ways to deepen engagement with our customers, as the only global platform that helps you go wherever you need and get whatever you want.»

«We outperformed both our Gross Bookings and Adjusted Ebitda outlook, with Mobility trends improving through the quarter and continued elevated growth for our Delivery business, combined with disciplined operational execution,» said Nelson Chai, CFO. «Uber is very well positioned to drive long-term value, with improving Ebitda performance, significant liquidity, and increasingly valuable minority investments.»

For additional information please read the Company’s PDF file below (90 KB):

20210512-UBER-Q1-2021
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