Uber is listing under the New York Stock Exchange under the symbol “UBER,” but has yet to disclose the anticipated initial public offering price.
In the filing, Uber reported 2018 revenues of $11.27 billion. Though, we knew this thanks to Uber’s previous disclosures of its financials. From ridesharing specifically, Uber’s revenues increased from $3.5 billion in 2016 to $9.2 billion in 2018, with gross bookings hitting $41.5 billion last year from ridesharing products.
Competitor Lyft filed its S-1 documents in March, showing nearly $1 billion in 2018 losses and revenues of $2.1 billion. It reported $8.1 billion in booking, coverings 30.7 million riders and 1.9 million drivers. About a week later, Lyft set a range of $62 to $68 for its IPO, seeking to raise up to $2.1 billion. Since its debut on the NASDAQ, Lyft’s stock has suffered after skyrocketing nearly 10 percent on day one.
This is not the first time we’ve seen Uber’s financials. Over the last couple of years, Uber has willingly disclosed many of these numbers.
Its last report as a private company came in February when Uber disclosed $3 billion in Q4 2018 revenue with rising operating losses. Year over year, Uber’s gross bookings increased 37 percent and revenue increased 24 percent. But as a percentage of gross bookings, revenue declined to 21.3 percent.
Compared to the entire fiscal year of 2017, Uber’s gross bookings increased 45 percent, to $50 billion in 2018. That resulted in a GAAP revenue increase of 43 percent, from 2017 to $11.3 billion. Losses also improved (decreased) from $2.2 billion in adjusted EBITDA losses in 2017 to $1.8 billion in 2018.