Convinced media-bias is the only reason why anyone could be "long $LYFT." They are a text-book "one trick pony" and too late for them to catch up in food delivery, international expansion, etc.
Uber S-1
21–30 of 559 posts
Re: Uber S-1
#22Note: - Expected to be teh largest IPO this year in the US. - 10th largest all time - trying to raise around $10B - 2018 Year Ended Revenue $11.27 billion - 2018 Year Ended Net Income $997 million - 2017 Year End lost $4.03 billion. - 10 billion trips in September 2018, up from 5 billion in September 2017 - Gross Bookings From Ridesharing $41.5 billion in 2018 - Revenue From Ridesharing Products $9.2 Billion in 2018…
So...
Step one, raise funding to run a revolutionary company.
Step two, ditch original idea for being revolutionary once funding is obtained. Use interest bearing bonds and other investments.
Step three, profit.
Re: Uber S-1
#23So... Let me see if I have this straight: 1. Uber is unprofitable and the only way it can become profitable is to get SDC's 2. Uber is significantly (years) behind Waymo in the SDC space. 3. Waymo will launch SDC taxi services first meaning: - When it puts in an order for SDC components no one else is going to be buying in bulk and thus it can have effectively 100% of capacity of these specialized equipment makers -…
SDC’s are like... minimum 5 years away for something an early adopter would get into. So...
Re: Uber S-1
#24Just a brief scan and it looks much healthier and diversified than Lyft. Of course far from a perfect business or anything. Their revenue is 5X Lyft's revenue. Doesn't look good for Lyft's stock to be honest. I wouldn't be surprised if after their first earnings release, Lyft stock goes below 40 USD.
They did really well with the CEO they recruited. From the outside, it seemed like he did a really exceptional job profitably growing Expedia.
Re: Uber S-1
#25So... Let me see if I have this straight: 1. Uber is unprofitable and the only way it can become profitable is to get SDC's 2. Uber is significantly (years) behind Waymo in the SDC space. 3. Waymo will launch SDC taxi services first meaning: - When it puts in an order for SDC components no one else is going to be buying in bulk and thus it can have effectively 100% of capacity of these specialized equipment makers -…
I concur.
Re: Uber S-1
#26Note: - Expected to be teh largest IPO this year in the US. - 10th largest all time - trying to raise around $10B - 2018 Year Ended Revenue $11.27 billion - 2018 Year Ended Net Income $997 million - 2017 Year End lost $4.03 billion. - 10 billion trips in September 2018, up from 5 billion in September 2017 - Gross Bookings From Ridesharing $41.5 billion in 2018 - Revenue From Ridesharing Products $9.2 Billion in 2018…
Uber Eats revenue in 2018 is $1.46B which is pretty impressive
regarding other income: > Gain on divestitures increased by $3.2 billion from 2017 to 2018. This increase was due to gains on the divestitures of our Russia/CIS and Southeast Asia operations.
Covered on page 85, basically spinoffs with other regional leaders
Re: Uber S-1
#27As always, the most interesting place to start is "Risks to our business": https://www.sec.gov/Archives/edgar/data/1543151/000119312519...
"We have incurred significant losses since inception, including in the United States and other major markets. We expect our operating expenses to increase significantly in the foreseeable future, and we may not achieve profitability."
We have incurred significant losses since inception. We incurred operating losses of $4.0 billion and $3.0 billion in the years ended December 31, 2017 and 2018, and as of December 31, 2018, we had an accumulated deficit of $7.9 billion.
Revenue: $11.2BB (2018) $7.9BB (2017) $3.8BB (2016)
Growth: 3.3BB 4.1
NetInc: 1.0BB -4.0 -0.3
Other: $4.99BB (2018) -0.02BB (2017) $0.14BB (2016)
[0]: Includes gain on divestiture of $3,214BB, plus unrealized gain on investments of $1,996BB.
(edit, format)
Re: Uber S-1
#28Note: - Expected to be teh largest IPO this year in the US. - 10th largest all time - trying to raise around $10B - 2018 Year Ended Revenue $11.27 billion - 2018 Year Ended Net Income $997 million - 2017 Year End lost $4.03 billion. - 10 billion trips in September 2018, up from 5 billion in September 2017 - Gross Bookings From Ridesharing $41.5 billion in 2018 - Revenue From Ridesharing Products $9.2 Billion in 2018…
> Adjusted EBITDA was $(1.8) billion in 2018 and $(2.6) billion in 2017
Re: Uber S-1
#29Note: - Expected to be teh largest IPO this year in the US. - 10th largest all time - trying to raise around $10B - 2018 Year Ended Revenue $11.27 billion - 2018 Year Ended Net Income $997 million - 2017 Year End lost $4.03 billion. - 10 billion trips in September 2018, up from 5 billion in September 2017 - Gross Bookings From Ridesharing $41.5 billion in 2018 - Revenue From Ridesharing Products $9.2 Billion in 2018…
> Lyft now at $61/share, ouch, there just is no other way to put it. THey pulled a lot of financial engineering tricks to boost their IPO price and well the results speak for themselves:(
I don't understand why this is seen as a negative. An IPO is a share issuance — the higher the price per share, the more money they receive in exchange for the same percentage of the company. Post-IPO "pops" represent money left on the table, effectively a transfer to the high-dollar investors with connections to the underwriter who can buy at the issue price.
Re: Uber S-1
#30Note: - Expected to be teh largest IPO this year in the US. - 10th largest all time - trying to raise around $10B - 2018 Year Ended Revenue $11.27 billion - 2018 Year Ended Net Income $997 million - 2017 Year End lost $4.03 billion. - 10 billion trips in September 2018, up from 5 billion in September 2017 - Gross Bookings From Ridesharing $41.5 billion in 2018 - Revenue From Ridesharing Products $9.2 Billion in 2018…
Lack of dual class stock is also interesting.