Uber(UBER) - 2024 Q4 - Annual Results

Financial Performance - Gross Bookings for Q4 2024 reached $44.2 billion, growing 18$1.8 billion, representing a 44% increase year-over-year, with an adjusted EBITDA margin of 4.2%[4] - Net income attributable to Uber Technologies, Inc. for Q4 2024 was $6.9 billion, boosted by a$6.4 billion tax valuation release[4] - Free cash flow for Q4 2024 was $1.7 billion, a 122$9.936 billion, an increase from $11.959 billion in Q4 2024, and total revenue for the year 2023 was$37.281 billion, projected to rise to $43.978 billion in 2024[34] - Net income attributable to Uber Technologies, Inc. for Q4 2023 was$1.429 billion, significantly increasing to $6.883 billion in Q4 2024, with annual net income rising from$1.887 billion in 2023 to $9.856 billion in 2024[34] - Operating cash flow for Q4 2023 was$823 million, expected to increase to $1.750 billion in Q4 2024, with total operating cash flow for 2023 at$3.585 billion projected to reach $7.137 billion in 2024[36] - Total costs and expenses for Q4 2023 were$9.284 billion, anticipated to rise to $11.189 billion in Q4 2024, with annual costs increasing from$36.171 billion in 2023 to $41.179 billion in 2024[34] User Engagement - Monthly Active Platform Consumers (MAPCs) increased to 171 million, up 14$22.8 billion, an 18% increase year-over-year, while Delivery Gross Bookings were $20.1 billion, also up 18$727 million, with a margin of 3.6% of Gross Bookings[14] - Drivers and couriers earned an aggregate of $20.0 billion during the quarter, up 16$2.0 billion of outstanding debt in Q4 2024, ending the quarter with $7.0 billion in unrestricted cash and short-term investments[4] - The company had cash and cash equivalents of$7.004 billion at the end of Q4 2023, projected to increase to $8.610 billion by the end of Q4 2024[37] Asset and Liability Changes - Uber's total assets increased from$38.699 billion as of December 31, 2023, to $51.244 billion as of December 31, 2024[32] - Total liabilities rose from$26.017 billion to $28.768 billion during the same period[32] - The accumulated deficit decreased from$30.594 billion to $20.726 billion[32] Operational Efficiency - Adjusted EBITDA margin as a percentage of Gross Bookings is a key metric for assessing operational efficiency, although specific percentages were not provided[44] - Non-GAAP costs and operating expenses for Q4 2023 were$6,048 million, reflecting the company's focus on managing operational costs[62] Shareholder Returns - The company entered into an accelerated share repurchase agreement to repurchase $1.5 billion of Uber common stock as part of a$7.0 billion share repurchase authorization[20] Technology and Market Expansion - Uber launched a new capacity-as-a-service solution called Broker Access for freight brokers, enhancing load booking and execution[19] - The company expanded its Uber for Teens service to 26 new countries, now available in over 50 countries[5] Legal and Regulatory Factors - Legal, tax, and regulatory reserve changes and settlements are noted as significant factors affecting financial performance, with implications for future cash flow[55]