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Uber Technologies Inc. (UBER+1.45%) has submitted its annual report on Form 10-K filing for the fiscal year ended December 31, 2024.
The filing details Uber's financial performance, reporting a revenue increase of 18% to $43.98 billion, driven by growth in Mobility and Delivery segments. Mobility revenue increased by 26%, while Delivery revenue grew by 13%.
Uber's net income attributable to the company was $9.86 billion, which includes a $6.4 billion benefit from the release of a valuation allowance on certain U.S. federal and state deferred tax assets.
Adjusted EBITDA, a non-GAAP financial measure, was reported at $6.48 billion, reflecting a 60% increase compared to the previous year. This growth was primarily due to improvements in the Mobility and Delivery segments.
The report highlights Uber's cash position, with $7.0 billion in unrestricted cash, cash equivalents, and short-term investments as of December 31, 2024.
Uber's operating cash flow was $7.14 billion, nearly doubling from the previous year, driven by increased net income and working capital improvements.
The filing discusses Uber's ongoing legal and regulatory challenges, including driver classification issues, which could impact future financial results.
Uber continues to invest in new technologies and offerings, including its Freight segment, which saw a slight decline in revenue due to market conditions.
The report also outlines Uber's share repurchase program, with $5.8 billion remaining available for future repurchases as of the end of 2024.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Uber Technologies Inc. annual 10-K report dated February 14, 2025. To report an error, please email earnings@qz.com.