受净利润下滑的影响，美股开盘后Uber股价下跌超5%。 当地时间2月4日，美国移动出行平台优步科技公司（Uber）发布了2025年第四季度财报。 财报显示，第四季度Uber营收同比增长20%至144亿美元。根据美国通用会计准则（GAAP），归属于 Uber的净利润为2.96亿美元，同比下跌96%。对此，Uber表示2024年第四季度净利润包括因税务估值释 放而获得的64亿美元收益，以及因Uber股权投资重估而获得的5.56亿美元税前净收益。2025年第四季度 净利润包括因Uber股权投资重估而导致的16亿美元税前净亏损。此外，2025年第四季度公司非GAAP净 利润同比增长25%至15亿美元。 今年以来，Uber已经公布了在自动驾驶领域的多项进展。1月6日，Uber宣布正与英伟达合作开发新的解 决方案，以支持人工智能驱动的自动驾驶技术的发展。 1月27日，Uber宣布成立AV Labs（自动驾驶实验室），并表示实验室汇聚了数据、机器学习、计算机 视觉、系统和基础设施等领域的专家，通过构建驱动自动驾驶学习的核心能力，包括从数据挖掘和仿真 到验证以及感知、预测和规划等系统级改进等，加速整个生态系统的发展。 Ube ...

As filed with the Securities and Exchange Commission on November 17, 2025 Registration No. 333- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 RENT THE RUNWAY, INC. (Exact Name of Registrant as Specified in Its Charter) (State or Other Jurisdiction of Incorporation or Organization) (I.R.S. Employer Identification Number) (Address, Including Zip Code, and Telephone Number, Including Area Code, of Registrant's Principal ...

Core Insights - Uber is proud of its ability to achieve large-scale profit growth, with both ride-hailing and delivery services accelerating. The company is intentionally slowing the pace of profit margin expansion and is now asking investors to measure the company by total profit growth in dollars, committing to annual profit growth in the foreseeable future [1][7] Ride-Hailing and Delivery Business - The ride-hailing business employs a "barbell strategy," balancing basic services like UberX with premium products such as Uber for Business, which generate higher margins. Profits from these premium products are reinvested into new growth areas, including the development of autonomous vehicles (AV) [1][8] - The delivery business has seen its fastest growth in four years, with a run rate of $12 billion, significantly outpacing online food delivery growth. This growth is attributed to improvements in product offerings, particularly in grocery and retail sectors [5][10] Autonomous Driving Initiatives - Uber's autonomous driving business is currently unprofitable, with expectations that it will not achieve profitability in the coming years. The company plans to use profits from its core and premium services to support investments in AV [1][8] - A partnership with NVIDIA aims to create a Level 4 (L4) autonomous driving reference architecture, which will benefit Uber's ecosystem by enabling higher daily revenue per vehicle. Initial deployment includes 5,000 vehicles powered by NVIDIA technology, with plans for large-scale expansion [2][4] User Engagement and Cross-Platform Strategy - Only 20% of users currently utilize both ride-hailing and delivery services. Uber is implementing strategies to increase cross-platform usage, such as personalized experiences and membership programs, which have shown to triple average spending among cross-platform users [3][10] - The Uber One membership program has reached 36 million members, contributing significantly to the overall booking volume in delivery services and improving retention rates [10] Financial Performance - In Q3, adjusted EBITDA grew by 33% year-over-year, with a profit margin of 4.5% of gross bookings, marking a historical high. The company is tracking towards a three-year framework goal of high teens growth in gross bookings and a compound annual growth rate of 30% to 40% in EBITDA [7][16] - The company is focused on balancing investments across its product lines while ensuring profitability, particularly in the context of expanding its autonomous driving capabilities [7][8] Data Collection and Market Insights - Uber is leveraging its ride-hailing network to collect real-world data, particularly in high-demand areas. The collaboration with NVIDIA is expected to enhance data quality through advanced sensor technology [17] - Markets with deployed autonomous vehicles, such as Austin, have shown higher driver earnings compared to other regions, indicating a healthy market environment [6][16]

Core Insights - The partnership between ABC Labs and CF Benchmarks is transforming digital asset investment, particularly with the launch of the LCAP token, which simplifies access to the crypto market for ordinary investors [1][2] Company Overview - ABC Labs is launching the LCAP token on the Reserve platform, which is described as the largest on-chain index provider for digital token funds (DTFs), akin to ETFs in traditional finance [2] - The Reserve platform currently holds $500 million in assets across various products, with LCAP recently accumulating $5 million in assets and around 20,000 on-chain holders [3] Product Details - LCAP provides diversified access to nearly the entire digital asset market, allowing users to invest in a single trade without navigating the complexities of multiple wallets [2][3] - The token is blockchain-native, managed by the Reserve team, and is tradable 24/7, unaffected by bank holidays or weekends [4] Market Context - There is a growing demand for crypto index products from both the crypto community and new investors looking to explore the digital asset space [3] - CF Benchmarks aims to establish a performance benchmark for the crypto asset class, similar to how MSCI and S&P serve equities, and Bloomberg serves fixed income [3]

TABLE OF CONTENTS As filed with the Securities and Exchange Commission on September 29, 2025 Registration No. 333-290358 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Amendment No. 1 to FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 RENT THE RUNWAY, INC. (Exact Name of Registrant as Specified in Its Charter) (State or Other Jurisdiction of Incorporation or Organization) (Primary Standard Industrial Classification Code Number) Delaware 7389 80-0376379 (I.R.S. Emplo ...

TABLE OF CONTENTS As filed with the Securities and Exchange Commission on September 18, 2025 Registration No. 333- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 RENT THE RUNWAY, INC. Copies to: Nicole Brookshire Paul Scrivano Davis Polk & Wardwell LLP 450 Lexington Avenue New York, New York 10017 (212) 450-4000 (Exact Name of Registrant as Specified in Its Charter) (State or Other Jurisdiction of Incorporation or Orga ...

Summary of Uber's Conference Call Company Overview - **Company**: Uber - **CEO**: Dara Khosrowshahi since 2017 - **Gross Bookings**: $163 billion in the previous year - **Free Cash Flow**: Nearly $7 billion [2][4] Industry Position - Uber operates in two major growth sectors: ride-sharing and food delivery [2] - The company is underpenetrated in most markets, with less than 5% of the adult population using the service monthly [5] Financial Performance and Growth Targets - Uber is on track to meet mid to high teens growth in gross bookings and mid-30s to 40% growth in EBITDA [4] - More than 90% of EBITDA is expected to convert into free cash flow [4] - Audience growth was 14% last quarter, while frequency grew by 3% [6] Strategic Initiatives - **Affordability**: Mobility pricing remained flat year-on-year, with a focus on membership programs to drive frequency and retention [7][8] - **Membership**: Over 30 million members, with delivery membership penetration at 60% [8] - **Market Penetration**: 20% of mobility gross bookings are from less dense markets, which are growing faster than core markets [10] - **Growth Bets**: Initiatives include Reserve, two and three-wheelers, Uber for Business, and grocery delivery [11] Resilience in Economic Downturns - Uber's business model is considered recession-resistant due to the nature of its service categories (food, transportation, grocery) [13][14] - The company operates in 70 countries, with over 50% of bookings from outside the U.S., reducing exposure to tariffs [14] - Approximately 75% of Uber's costs are variable, allowing flexibility during economic fluctuations [15] Delivery Business Insights - Delivery transaction growth rates accelerated to about 15%, with gross bookings growing 17% to 18% consistently over the past seven quarters [19][20] - The advertising business is also growing significantly, generating over $1 billion in revenue [21] - The grocery and retail category is larger than online food delivery, with increasing selection and consumer engagement [25] Mobility Business Insights - Mobility business has consistently grown at a 20% rate, with pricing strategies aimed at expanding the total addressable market [30] - Insurance costs have been a significant factor affecting pricing, but recent trends indicate easing costs [31][34] Autonomous Vehicle (AV) Developments - Uber is actively partnering with multiple autonomous technology providers, with promising early metrics from the Waymo partnership in Austin [36][39] - The company is focused on proving the product works and ensuring customer safety before scaling [46] Insurance and Regulatory Environment - Uber advocates for insurance reforms, particularly in California, to reduce costs for consumers and drivers [55][56] - Regulatory trends are moving positively in several states, but challenges remain in California and New Jersey [55] Key Takeaways - **Affordability**: A critical focus for Uber moving forward [57] - **Growth Potential**: Significant opportunities in grocery and retail, as well as in less dense markets [28][25] - **Insurance Costs**: A major area of concern, with hopes for regulatory changes to lower rates [56][58]