Adjusted EBITDA is just a made up term. It is isn’t GAAP so by definition it isn’t Generally Accepted. Made up metrics are generally used by startups and non profitable public companies to justify their valuations to investors.
Adjusted EBITDA is just a made up term. It is isn’t GAAP so by definition it isn’t Generally Accepted. Made up metrics are generally used by startups and non profitable public companies to justify their valuations to investors.
How much of their expenses are required for a theoretical rides-only Uber? Impossible to say; they don't break out spending by segment. But we can make some guesses. The rides product has now existed for many, many years. Did they really need to become a ~22,000 employee company if all they were going to do is rides? I would guess no. So the question here is really: how much of their current expenses do we think only exist due non-rideshare business? The autonomy program is evidently an expensive bust. I see a lot of scooter marketing, which we can tell from this report isn't selling. Food is growing but they're in 3rd place, and it seems like they spend a lot of money to even get to third. So really the question is: are >30% of their expenses due to the non-ride business? I would guess yes.