Uber: From Cash Burner to Cash-Flow Utility

What we drew from this source

The claims Via News extracted from this document. We point to the source; we don't replace it.

• Only about 20% of Uber's user base utilizes both the Mobility and Delivery platforms, but users who engage with both verticals spend roughly three times more than single-platform users

  80% confidence

• Instant Retail vertical is running at a $12 billion annualized gross bookings rate

  80% confidence

• Management describes the gap between Adjusted EBITDA and operating income as due to one-off or non-recurring items, specifically legal reserves, regulatory settlements, and volatility in insurance reserves

  80% confidence

• Waymo vehicles on Uber network in Phoenix and San Francisco are seeing utilization rates significantly higher than human-driven cars

  80% confidence

• Uber has scaled its advertising business to over $1 billion in annualized revenue

  80% confidence

• Uber expects to grow Gross Bookings in the mid-teens and EBITDA in the high-30s to 40% range

  80% confidence

• Uber accumulated roughly $32 billion in operating losses prior to mid-2023

  80% confidence

• Uber operates the largest mobility and delivery network on the planet with nearly 190 million monthly active platform consumers across 70 countries

  80% confidence

• Uber is positioning itself to be the essential infrastructure to the autonomous future rather than an inevitable loser in the robotaxi wars

  80% confidence

• Suburban markets are growing 1.5 to 3 times faster than core metro areas

  80% confidence

• Restaurant delivery represents a $2 trillion Total Addressable Market while general commerce represents a $12 trillion TAM

  80% confidence

• Rating Uber stock a Buy with high-conviction accumulation zone between $70 and $80, with 12 to 18 month price target at $110, implying roughly 35-40% upside

  80% confidence

• In Uber's top 10 markets, only about 15% of the adult population uses the service

  80% confidence

Data points we hold from this source