initial public offerings (IPOs) trading on American exchanges

Thursday, April 11, 2019

Uber files S-1, applies to list common stock on NYSE under ticker "UBER"


Ride-sharing company Uber has filed its S-1, will list its shares on the NYSE under the ticker "UBER". The lead underwriters on the deal are Morgan Stanley, Goldman Sachs, BofA Merrill Lynch, Barclays, Citigroup, and Allen & Co.
  • At this time, there is no expected price range for the IPO, and no set date either. Both of those data points will come in an amended S-1 in the coming week(s). However, UBER appears on track to launch its IPO within the next 2-3 weeks.
  • Taking a look at a few of the financial highlights from its filing, gross bookings were up 45% in FY18 to $49.8 million, while revenue climbed 43% to $11.27 billion. The company is far from profitability, though, as it posted a ($3.0) billion operating loss for the year. Adj. EBITDA was also in the red at ($1.8) billion. 
    • A silver lining is that both of these metrics did improve from FY17, when it suffered an operating loss of ($4.1) billion and Adj EBITDA of ($2.6) billion.
    • As for its other key operating metrics, monthly active platform consumers were up to 91 million from 68 million, and total trips jumped to 5.22 billion from 3.7 billion.

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