As of 2022, on net revenues of $31.87 billion, Uber posted a net loss of $9.14 billion. In 2021, Uber posted a lower net loss ($496 million), primarily thanks to the business divestitures of various assets. Throughout its history, on an annual basis, Uber has never made a profit. Yet, it has also shown incredible business growth, over the years, with its revenue at $3.8 billion in 2016, to almost $32 billion in 2022.
Understanding Uber’s financials
Over the years, Uber has created a whole new market, starting from its mobility/ride-sharing platform.
As of 2022, Uber is confirmed to be a behemoth in the mobility industry, spanning anywhere from ride-sharing to food delivery, and freight delivery.
The fee or take rate might vary based on geography, supply, and demand, but also the ability of Uber to have consolidated market shares.
Indeed, as of 2022, take rates are higher in the ride-sharing industry, where Uber has a more consolidated, dominating position.
Whereas, in the delivery business, where competition is intense, and Uber hasn’t yet consolidated market dominance, its take rates are slightly lower.
However, the company is still highly unprofitable.
Yet, the good news is if we look at the Uber Eats segment, this might be getting profitable (if we look at EBITDA).
And the same applies to the Uber Freight segment, which might have broken even by 2022.