As always, the most interesting place to start is "Risks to our business": https://www.sec.gov/Archives/edgar/data/1543151/000119312519...
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Uber S-1
11–20 of 559 posts
Re: Uber S-1
#12I wonder if someone connected to Uber has been trying to support the Lyft price. Given its still tanking it must be costing them loads.
Re: Uber S-1
#13Earlier quoted context omitted.
"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 and may never achieve profitability" is pretty standard in S-1s. Nothing particularly interesting in these sentences.
This exact comment chain seemingly occurs in every S1 post.
Re: Uber S-1
#14[deleted]
Re: Uber S-1
#15> as of December 31, 2018, we had an accumulated deficit of $7.9 billion
zoinks
Re: Uber S-1
#16"We do the right thing. Period."
Good thing there isn’t more than one perspective on what is right and wrong. This could’ve been a meaningless platitude otherwise.
Re: Uber S-1
#17Just 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.
Re: Uber S-1
#18So... 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
- It is going to be competing with other taxi/ride share services with all the cost advantages of SDC vehicles while its competitors are paying human drivers (and have basically no fat to cut from their current pricing)
- It will be able to improve its services so when someone else does launch their service will be inferior.
4. Uber expects that its users will stick to it over the course of years in the face of significantly cheaper competition.
5. Uber expects that it is going to be able to continue to use human drivers even while it competes against those same people with its SDC's (i.e. when your employer hires your replacement but expects you to train them).
I simply can't imagine how Uber is worth anything at the moment.
Re: Uber S-1
#19What’s there to see? What’s their value add? They’re not going to be profitable until driverless cars are a legit thing or they pivot into something with higher margins. This IPO will make incumbent banks a cool mint and early engineers paper millionaires but will hopefully blow up and let capital into companies that actually have a chance of staying solvent without successive massive influxes of cash.
Re: Uber S-1
#20Note: - 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…
This $3.2 billion other income in 2018 was from divestitures of Russia/CIS and Southeast Asia operations.