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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
____________________________________________ 
FORM 10-Q
____________________________________________ 
(Mark One)

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended September 30, 2022
OR
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from_____ to _____            
Commission File Number: 001-38902
____________________________________________ 
UBER TECHNOLOGIES, INC.
(Exact name of registrant as specified in its charter)
Not Applicable
(Former name, former address and former fiscal year, if changed since last report)
____________________________________________________________________________ 
Delaware45-2647441
(State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.)
1515 3rd Street
San Francisco, California 94158
(Address of principal executive offices, including zip code)
(415612-8582
(Registrant’s telephone number, including area code)
____________________________________________________________________________
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Stock, par value $0.00001 per shareUBERNew York Stock Exchange
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes   No
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).    Yes       No
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filer
Accelerated filer
Non-accelerated filer
Smaller reporting company
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes  No 
The number of shares of the registrant's common stock outstanding as of October 31, 2022 was 1,994,407,340.



UBER TECHNOLOGIES, INC.
TABLE OF CONTENTS
Pages
Item 1.
Item 2.
Item 3.
Item 4.
Item 1.
Item 1A.
Item 2.
Item 6.
1


SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS
This Quarterly Report on Form 10-Q 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 Quarterly Report on Form 10-Q, 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 ability to effectively manage our growth and maintain and improve our corporate culture;
our expectations regarding financial performance, including but not limited to revenue, potential profitability and the timing thereof, ability to generate 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 Take Rate;
our expectations regarding our competitors’ use of incentives and promotions, our competitors’ ability to raise capital, and the effects of such incentives and promotions on our growth and results of operations;
our anticipated investments in new products and offerings, and the effect of these investments on our results of operations;
our anticipated capital expenditures and our estimates regarding our capital requirements;
our ability to close and integrate acquisitions into our operations;
anticipated technology trends and developments and our ability to address those trends and developments with our products and offerings;
the size of our addressable markets, market share, category positions, and market trends, including our ability to grow our business in the countries we have identified as expansion markets;
the safety, affordability, and convenience of our platform and our offerings;
our ability to identify, recruit, and retain skilled personnel, including key members of senior management;
our expected growth in the number of platform users, and our ability to promote our brand and attract and retain platform users;
our ability to maintain, protect, and enhance our intellectual property rights;
our ability to introduce new products and offerings and enhance existing products and offerings;
our ability to successfully enter into new geographies, expand our presence in countries in which we are limited by regulatory restrictions, and manage our international expansion;
our ability to successfully renew licenses to operate our business in certain jurisdictions;
the impacts of contagious disease, such as COVID-19, or outbreaks of other viruses, disease or pandemics on our business, results of operations, financial position and cash flows;
the impact of the global economy, including rising inflation and interest rates;
the availability of capital to grow our business;
volatility in the business or stock price of our minority-owned affiliates;
our ability to meet the requirements of our existing debt and draw on our line of credit;
our ability to prevent disturbances to our information technology systems;
our ability to comply with existing, modified, or new laws and regulations applying to our business; and
our ability to implement, maintain, and improve our internal control over financial reporting.
Actual events or results may differ from those expressed in forward-looking statements. As such, you should not rely on forward-
2


looking statements as predictions of future events. We have based the forward-looking statements contained in this Quarterly Report on Form 10-Q primarily on our current expectations and projections about future events and trends that we believe may affect our business, financial condition, operating results, prospects, strategy, and financial needs. The outcome of the events described in these forward-looking statements is subject to risks, uncertainties, assumptions, and other factors described in the section titled “Risk Factors” and elsewhere in this Quarterly Report on Form 10-Q. Moreover, we operate in a highly competitive and rapidly changing environment. New risks and uncertainties emerge from time to time, and it is not possible for us to predict all risks and uncertainties that could have an impact on the forward-looking statements contained in this Quarterly Report on Form 10-Q. The results, events and circumstances reflected in the forward-looking statements may not be achieved or occur, and actual results, events or circumstances could differ materially from those described in the forward-looking statements.
In addition, statements that “we believe” and similar statements reflect our beliefs and opinions on the relevant subject. These statements are based on information available to us as of the date of this Quarterly Report on Form 10-Q. While we believe that such information provides a reasonable basis for these statements, such information may be limited or incomplete. Our statements should not be read to indicate that we have conducted an exhaustive inquiry into, or review of, all relevant information. These statements are inherently uncertain, and investors are cautioned not to unduly rely on these statements.
The forward-looking statements made in this Quarterly Report on Form 10-Q speak only as of the date on which the statements are made. We undertake no obligation to update any forward-looking statements made in this Quarterly Report on Form 10-Q to reflect events or circumstances after the date of this Quarterly Report on Form 10-Q or to reflect new information, actual results, revised expectations, or the occurrence of unanticipated events, except as required by law. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements.
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PART I - FINANCIAL INFORMATION
ITEM 1. FINANCIAL STATEMENTS
UBER TECHNOLOGIES, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In millions, except share amounts which are reflected in thousands, and per share amounts)
(Unaudited)
As of December 31, 2021As of September 30, 2022
Assets
Cash and cash equivalents$4,295 $4,865 
Restricted cash and cash equivalents631 593 
Accounts receivable, net of allowance of $51 and $80, respectively
2,439 2,468 
Prepaid expenses and other current assets1,454 1,442 
Total current assets8,819 9,368 
Restricted cash and cash equivalents2,879 3,176 
Investments11,806 3,643 
Equity method investments800 902 
Property and equipment, net1,853 1,942 
Operating lease right-of-use assets1,388 1,405 
Intangible assets, net2,412 1,992 
Goodwill8,420 8,300 
Other assets397 384 
Total assets$38,774 $31,112 
Liabilities, redeemable non-controlling interests and equity
Accounts payable$860 $774 
Short-term insurance reserves1,442 1,433 
Operating lease liabilities, current185 189 
Accrued and other current liabilities6,537 6,624 
Total current liabilities9,024 9,020 
Long-term insurance reserves2,546 3,036 
Long-term debt, net of current portion9,276 9,268 
Operating lease liabilities, non-current1,644 1,626 
Other long-term liabilities935 762 
Total liabilities23,425 23,712 
Commitments and contingencies (Note 12)
Redeemable non-controlling interests204 430 
Equity
Common stock, $0.00001 par value, 5,000,000 shares authorized for both periods, 1,949,316 and 1,990,396 shares issued and outstanding, respectively
  
Additional paid-in capital38,608 40,020 
Accumulated other comprehensive loss(524)(410)
Accumulated deficit(23,626)(33,363)
Total Uber Technologies, Inc. stockholders' equity14,458 6,247 
Non-redeemable non-controlling interests687 723 
Total equity15,145 6,970 
Total liabilities, redeemable non-controlling interests and equity$38,774 $31,112 
The accompanying notes are an integral part of these condensed consolidated financial statements.
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UBER TECHNOLOGIES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(In millions, except share amounts which are reflected in thousands, and per share amounts)
(Unaudited)
Three Months Ended September 30,Nine Months Ended September 30,
2021202220212022
Revenue$4,845 $8,343 $11,677 $23,270 
Costs and expenses
Cost of revenue, exclusive of depreciation and amortization shown separately below2,438 5,173 6,247 14,352 
Operations and support475 617 1,330 1,808 
Sales and marketing1,168 1,153 3,527 3,634 
Research and development493 760 1,496 2,051 
General and administrative625 908 1,705 2,391 
Depreciation and amortization218 227 656 724 
Total costs and expenses5,417 8,838 14,961 24,960 
Loss from operations(572)(495)(3,284)(1,690)
Interest expense(123)(146)(353)(414)
Other income (expense), net(1,832)(535)1,821 (7,796)
Loss before income taxes and income (loss) from equity method investments(2,527)(1,176)(1,816)(9,900)
Provision for (benefit from) income taxes(101)58 (395)(97)
Income (loss) from equity method investments(13)30 (28)65 
Net loss including non-controlling interests(2,439)(1,204)(1,449)(9,738)
Less: net income (loss) attributable to non-controlling interests, net of tax(15)2 (61)(2)
Net loss attributable to Uber Technologies, Inc.$(2,424)$(1,206)$(1,388)$(9,736)
Net loss per share attributable to Uber Technologies, Inc. common stockholders:
Basic$(1.28)$(0.61)$(0.74)$(4.96)
Diluted$(1.28)$(0.61)$(0.75)$(4.97)
Weighted-average shares used to compute net loss per share attributable to common stockholders:
Basic1,898,954 1,979,299 1,877,655 1,964,483 
Diluted1,898,954 1,979,299 1,878,997 1,968,228 
The accompanying notes are an integral part of these condensed consolidated financial statements.
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UBER TECHNOLOGIES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
(In millions)
(Unaudited)
Three Months Ended September 30,Nine Months Ended September 30,
2021202220212022
Net loss including non-controlling interests$(2,439)$(1,204)$(1,449)$(9,738)
Other comprehensive income, net of tax:
Change in foreign currency translation adjustment24 295 78 114 
Change in unrealized gain on investments in available-for-sale securities463  1,625  
Other comprehensive income, net of tax487 295 1,703 114 
Comprehensive income (loss) including non-controlling interests(1,952)(909)254 (9,624)
Less: comprehensive income (loss) attributable to non-controlling interests(15)2 (61)(2)
Comprehensive income (loss) attributable to Uber Technologies, Inc.$(1,937)$(911)$315 $(9,622)
The accompanying notes are an integral part of these condensed consolidated financial statements.
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UBER TECHNOLOGIES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF REDEEMABLE NON-CONTROLLING INTERESTS AND EQUITY
(In millions, except share amounts which are reflected in thousands)
(Unaudited)
Redeemable Non-Controlling InterestsCommon StockAdditional Paid-In CapitalAccumulated Other Comprehensive Income (Loss)Accumulated DeficitNon-Redeemable Non-Controlling InterestsTotal Equity
SharesAmount
Balance as of December 31, 2020$787 1,849,794 $ $35,931 $(535)$(23,130)$701 $12,967 
Reclassification of the equity component of 2025 Convertible Notes to liability upon adoption of ASU 2020-06— — — (243)— — — (243)
Exercise of stock options— 3,518 — 35 — — — 35 
Stock-based compensation— — — 287 — — — 287 
Issuance of common stock for settlement of Careem Convertible Notes— 2,872 — 158 — — — 158 
Issuance of common stock as consideration for acquisition— 505 — 28 — — — 28 
Issuance of common stock for settlement of RSUs— 10,924 — — — — — — 
Shares withheld related to net share settlement— (244)— (14)— — — (14)
Recognition of non-controlling interest upon acquisition56 — — — — — — — 
Derecognition of non-controlling interests upon divestiture(356)— — — — — (701)(701)
Unrealized gain on investments in available-for-sale securities, net of tax— — — — 1,156 — — 1,156 
Foreign currency translation adjustment— — — — 33 — — 33 
Net loss(14)— — — — (108)— (108)
Balance as of March 31, 2021473 1,867,369  36,182 654 (23,238) 13,598 
Exercise of stock options— 2,454 — 40 — — — 40 
Stock-based compensation— — — 282 — — — 282 
Reclassification of share-based award liability to additional paid-in capital— — — 4 — — — 4 
Issuance of common stock under the Employee Stock Purchase Plan— 1,710 — 67 — — — 67 
Issuance of common stock for settlement of Careem Convertible Notes— 1,352 — 74 — — — 74 
Issuance of common stock for settlement of RSUs— 7,480 — — — — — — 
Shares withheld related to net share settlement— (55)— (3)— — — (3)
Recognition of non-controlling interest upon acquisition76 — — — — — — — 
Re-measurement of non-controlling interest1,052 — — (1,058)— — — (1,058)
Unrealized gain on investments in available-for-sale securities, net of tax— — — — 6 — — 6 
Foreign currency translation adjustment— — — — 21 — — 21 
Net income(32)— — — — 1,144 — 1,144 
Balance as of June 30, 20211,569 1,880,310  35,588 681 (22,094) 14,175 
Exercise of stock options— 2,088 — 17 — — — 17 
Stock-based compensation— — — 292 — — — 292 
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Issuance of common stock for settlement of RSUs— 9,696 — — — — — — 
Shares withheld related to net share settlement— (149)— (6)— — — (6)
Issuance of common stock for settlement of contingent consideration liability— 1,364 — 63 — — — 63 
Issuance of restricted stock awards, subject to repurchase, in connection with acquisition of non-controlling interest— 4,641 — — — — — — 
Acquisition of non-controlling interest(1,327)20,641 — 1,327 — — — 1,327 
Recognition of non-controlling interest upon sale of Freight Holding preferred stock— — — — — — 125 125 
Unrealized gain on investments in available-for-sale securities, net of tax— — — — 463 — — 463 
Foreign currency translation adjustment— — — — 24 — — 24 
Net loss(13)— — — — (2,424) (2,424)
Balance as of September 30, 2021$229 1,918,591 $ $37,281 $1,168 $(24,518)$125 $14,056 
The accompanying notes are an integral part of these condensed consolidated financial statements.
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UBER TECHNOLOGIES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF REDEEMABLE NON-CONTROLLING INTERESTS AND EQUITY
(In millions, except share amounts which are reflected in thousands)
(Unaudited)
Redeemable Non-Controlling InterestsCommon StockAdditional Paid-In CapitalAccumulated Other Comprehensive Income (Loss)Accumulated DeficitNon-Redeemable Non-Controlling InterestsTotal Equity
SharesAmount
Balance as of December 31, 2021$204 1,949,316 $ $38,608 $(524)$(23,626)$687 $15,145 
 Exercise of stock options — 1,093 — 6 — — — 6 
 Stock-based compensation — — — 369 — — — 369 
 Issuance of common stock for settlement of RSUs — 9,569 — — — — — — 
 Shares withheld related to net share settlement — (316)— (11)— — — (11)
 Issuance of common stock for settlement of contingent consideration liability — 132 — 5 — — — 5 
 Foreign currency translation adjustment — — — — 19 — — 19 
 Net income (loss)1 — — — — (5,930)10 (5,920)
Balance as of March 31, 2022205 1,959,794  38,977 (505)(29,556)697 9,613 
Exercise of stock options— 1,376 — 5 — — — 5 
Stock-based compensation— — — 484 — — — 484 
Issuance of common stock for settlement of RSUs— 12,146 — — — — — — 
Issuance of common stock under the Employee Stock Purchase Plan— 2,988 — 59 — — — 59 
Shares withheld related to net share settlement— (79)— (2)— — — (2)
Foreign currency translation adjustment(3)— — — (200)— — (200)
Recognition of non-controlling interest upon capital investment18 — — — — — — — 
Net income (loss)(26)— — — — (2,601)11 (2,590)
Balance as of June 30, 2022194 1,976,225  39,523 (705)(32,157)708 7,369 
Exercise of stock options— 894 — 5 — — — 5 
Stock-based compensation— — — 494 — — — 494 
Issuance of common stock for settlement of RSUs— 13,355 — — — — — — 
Issuance of Freight subsidiary preferred stock250 — — — — — — — 
Recognition of non-controlling interest upon issuance of subsidiary stock— — — — — — 5 5 
Shares withheld related to net share settlement— (78)— (2)— — — (2)
Foreign currency translation adjustment(6)— — — 295 — — 295 
Net income (loss)(8)— — — — (1,206)10 (1,196)
Balance as of September 30, 2022$430 1,990,396 $ $40,020 $(410)$(33,363)$723 $6,970 
The accompanying notes are an integral part of these condensed consolidated financial statements.
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UBER TECHNOLOGIES, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In millions)
(Unaudited)
Nine Months Ended September 30,
20212022
Cash flows from operating activities
Net loss including non-controlling interests$(1,449)$(9,738)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization656 724 
Bad debt expense75 76 
Stock-based compensation834 1,311 
Gain on business divestitures(1,684)(14)
Gain from sale of investments(171) 
Deferred income taxes(482)(251)
Loss (income) from equity method investments, net28 (65)
Unrealized loss on debt and equity securities, net56 7,797 
Impairments of goodwill, long-lived assets and other assets16 15 
Impairment of equity method investment 182 
Revaluation of MLU B.V. call option (180)
Unrealized foreign currency transactions12 25 
Other50 5 
Change in assets and liabilities, net of impact of business acquisitions and disposals:
Accounts receivable(354)(219)
Prepaid expenses and other assets(229)(57)
Collateral held by insurer860  
Operating lease right-of-use assets116 142 
Accounts payable71 (80)
Accrued insurance reserves490 485 
Accrued expenses and other liabilities891 897 
Operating lease liabilities(124)(169)
Net cash provided by (used in) operating activities(338)886 
Cash flows from investing activities
Purchases of property and equipment(218)(193)
Purchases of marketable securities(1,113) 
Purchases of non-marketable equity securities(857)(14)
Purchase of notes receivable(242) 
Proceeds from maturities and sales of marketable securities2,291 376 
Proceeds from sale of non-marketable equity securities500  
Proceeds from sale of equity method investments and grant of related call option800  
Proceeds from business divestiture 26 
Acquisition of businesses, net of cash acquired(111)(59)
Other investing activities17 (4)
Net cash provided by investing activities1,067 132 
Cash flows from financing activities
Issuance of senior notes, net of issuance costs1,485  
Principal repayment on Careem Notes(195) 
Principal payments on finance leases(166)(147)
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Proceeds from the issuance of common stock under the Employee Stock Purchase Plan67 59 
Proceeds from issuance and sale of subsidiary stock units125 255 
Other financing activities50 (63)
Net cash provided by financing activities1,366 104 
Effect of exchange rate changes on cash and cash equivalents, and restricted cash and cash equivalents(45)(293)
Net increase in cash and cash equivalents, and restricted cash and cash equivalents2,050 829 
Cash and cash equivalents, and restricted cash and cash equivalents
Beginning of period7,391 7,805 
Reclassification from assets held for sale during the period349  
End of period$9,790 $8,634 
Reconciliation of cash and cash equivalents, and restricted cash and cash equivalents to the condensed consolidated balance sheets
Cash and cash equivalents$6,482 $4,865 
Restricted cash and cash equivalents-current 414 593 
Restricted cash and cash equivalents-non-current2,894 3,176 
Total cash and cash equivalents, and restricted cash and cash equivalents$9,790 $8,634 
Supplemental disclosures of cash flow information
Cash paid for: