Uber Technologies, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Uber Technologies, Inc. has submitted its 2023 annual report detailing its financial performance and operations.</b>

AI Summary

Uber Technologies, Inc (UBER) filed a Annual Report (10-K) with the SEC on February 15, 2024. Uber Technologies, Inc. filed its annual report on Form 10-K for the fiscal year ended December 31, 2023. The filing covers the period from January 1, 2023, to December 31, 2023. The company's principal executive offices are located at 1725 3rd Street, San Francisco, CA 94158. The filing was made as of February 15, 2024. Uber Technologies, Inc. is incorporated in Delaware.

Why It Matters

For investors and stakeholders tracking Uber Technologies, Inc, this filing contains several important signals. This 10-K filing provides a comprehensive overview of Uber's financial health, operational strategies, and risk factors for the fiscal year 2023, crucial for investors and stakeholders to assess the company's performance and future outlook. The detailed financial statements and disclosures within the 10-K are essential for understanding Uber's revenue streams, profitability, debt levels, and overall market position in the ride-sharing and delivery industries.

Risk Assessment

Risk Level: medium — Uber Technologies, Inc shows moderate risk based on this filing. The company operates in highly competitive markets and faces significant regulatory scrutiny globally, which could impact its business model and profitability.

Analyst Insight

Investors should review the detailed risk factors and financial statements in the 10-K to assess the sustainability of Uber's growth and profitability.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reporting period)
• 2024-02-15 — Filing Date (Date of submission)

Key Players & Entities

• Uber Technologies, Inc. (company) — Filer name
• San Francisco (location) — Business address city
• DE (location) — State of incorporation
• 2023-12-31 (date) — Fiscal year end
• 2024-02-15 (date) — Filed as of date

FAQ

Industry Context

Uber operates in the rapidly evolving technology sector, specifically focusing on mobility (ride-sharing) and delivery services.

Regulatory Implications

The company is subject to various transportation network company regulations and labor laws across different jurisdictions.

What Investors Should Do

1. Analyze the detailed financial statements for revenue growth, profitability trends, and cash flow generation.
2. Review the 'Risk Factors' section to understand potential challenges and their impact on future operations.
3. Examine management's discussion and analysis (MD&A) for insights into strategic priorities and outlook.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K filing.
• 2024-02-15: Filing Date — Date Uber Technologies, Inc. submitted its 10-K report.

Year-Over-Year Comparison

This filing represents the annual report for the fiscal year 2023, providing updated financial and operational data compared to previous filings.

Key Financial Figures

• $0.00001 — ich registered Common Stock, par value $0.00001 per share UBER New York Stock Exchange

Filing Documents

• uber-20231231.htm (10-K) — 3230KB
• uber12312023exhibit32.htm (EX-3.2) — 271KB
• uber12312023exhibit106.htm (EX-10.6) — 93KB
• uber12312023exhibit211.htm (EX-21.1) — 13KB
• uber12312023exhibit231.htm (EX-23.1) — 3KB
• uber12312023exhibit311.htm (EX-31.1) — 11KB
• uber12312023exhibit312.htm (EX-31.2) — 11KB
• uber12312023exhibit321.htm (EX-32.1) — 9KB
• uber-20231231_g1.jpg (GRAPHIC) — 120KB
• uber-20231231_g2.jpg (GRAPHIC) — 53KB
• uber-20231231_g3.jpg (GRAPHIC) — 47KB
• uber-20231231_g4.jpg (GRAPHIC) — 72KB
• 0001543151-24-000012.txt (&nbsp;) — 18763KB
• uber-20231231.xsd (EX-101.SCH) — 121KB
• uber-20231231_cal.xml (EX-101.CAL) — 175KB
• uber-20231231_def.xml (EX-101.DEF) — 650KB
• uber-20231231_lab.xml (EX-101.LAB) — 1402KB
• uber-20231231_pre.xml (EX-101.PRE) — 976KB
• uber-20231231_htm.xml (XML) — 2995KB

Risk Factors

Item 1A. Risk Factors 10

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 45 Item 1C. Cybersecurity 45

Properties

Item 2. Properties 46

Legal Proceedings

Item 3. Legal Proceedings 47

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 47 PART II

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 47

[Reserved]

Item 6. [Reserved] 48

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 48

Quantitative and Qualitative Disclosures About Market Risk

Item 7A. Quantitative and Qualitative Disclosures About Market Risk 68

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data 70

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 134

Controls and Procedures

Item 9A. Controls and Procedures 134

Other Information

Item 9B. Other Information 135

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 135 PART III

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance 135

Executive Compensation

Item 11. Executive Compensation 135

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 135

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence 135

Principal Accounting Fees and Services

Item 14. Principal Accounting Fees and Services 135 PART IV

Exhibits, Financial Statement Schedules

Item 15. Exhibits, Financial Statement Schedules 135

Form 10-K Summary

Item 16. Form 10-K Summary 136 Exhibit Index 137

Signatures

Signatures 141 1 SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts contained in this Annual Report on Form 10-K, including statements regarding our future results of operations or financial condition, business strategy and plans, and objectives of management for future operations, are forward-looking statements. In some cases, you can identify forward-looking statements because they contain words 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 the negative of these words or other similar terms or expressions. These forward-looking statements include, but are not limited to, statements concerning the following: our ability to successfully defend litigation and government proceedings brought against us, including with respect to our relationship with drivers and couriers, and the potential impact on our business operations and financial performance if we are not successful; our ability to successfully compete in highly competitive markets; our expectations regarding financial performance, including but not limited to revenue, achieving or maintaining profitability, ability to generate or maintain positive Adjusted EBITDA or Free Cash Flow, expenses, and other results of operations; our expectations regarding future operating performance, including but not limited to our expectations regarding future Monthly Active Platform Consumers ("MAPCs"), Trips, Gross Bookings, and Revenue Margin (defined as revenue as a percentage of Gross Bookings); our expectations regarding our competitors' use of incentives and promotions, our competitors' ability to raise capital, and the effects of

BUSINESS

ITEM 1. BUSINESS Overview Uber Technologies, Inc. ("Uber," "we," "our," or "us") is a technology platform that uses a massive network, leading technology, operational excellence and product expertise to power movement from point A to point B. We develop and operate proprietary technology applications supporting a variety of offerings on our platform ("platform(s)" or "Platform(s)"). We connect consumers ("Rider(s)") with independent providers of ride services ("Mobility Driver(s)") for ridesharing services, and connect Riders and other consumers ("Eater(s)") with restaurants, grocers and other stores (collectively, "Merchants") with delivery service providers ("Couriers") for meal preparation, grocery and other delivery services. Riders and Eaters are collectively referred to as "end-user(s)" or "consumer(s)." Mobility Drivers and Couriers are collectively referred to as "Driver(s)." We also connect consumers with public transportation networks. We use this same network, technology, operational excellence and product expertise to connect shippers ("Shipper(s)") with carriers ("Carrier(s)") in the freight industry by providing Carriers with the ability to book a shipment, transportation management and other logistics services. Uber is also developing technologies designed to provide new solutions to solve everyday problems. Our technology is available in approximately 70 countries around the world, principally in the United States ("U.S.") and Canada, Latin America, Europe (excluding Russia), the Middle East, Africa, and Asia (excluding China and Southeast Asia). Our Segments As of December 31, 2023, we had three operating and reportable segments: Mobility, Delivery and Freight. Mobility, Delivery and Freight platform offerings each address large, fragmented markets. Mobility Our Mobility offering connects consumers with a wide range of transportation modalities, such as ridesharing, carsharing, micromobility, rentals, public transit, taxis, and more—helping c

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View this 10-K filing on SEC EDGAR