Q1 2023 Earnings
Non-GAAP Financial Measures Disclosure
To supplement our financial information, which is prepared and
presented in accordance with generally accepted accounting
principles in the United States of America, or GAAP, we use the
following non-GAAP financial measures: Adjusted EBITDA;
Non-GAAP Costs and Operating Expenses; Revenue Excluding
UK Accrual; Mobility Revenue Excluding UK Accrual; Delivery
business model change impact on Cost of Revenue; Mobility
business model change impact on Cost of Revenue; Free Cash
Flow; as well as revenue growth rates in constant currency. The
presentation of this financial information is not intended to be
considered in isolation or as a substitute for, or superior to, the
financial information prepared and presented in accordance
with GAAP. We use these non-GAAP financial measures for
financial and operational decision-making and as a means to
evaluate period-to-period comparisons.
We believe that these non-GAAP financial measures provide
meaningful supplemental information regarding our
performance by excluding certain items that may not be
indicative of our recurring core business operating results.
We believe that both management and investors benefit from
referring to these non-GAAP financial measures in assessing
our performance and when planning, forecasting, and analyzing
future periods. These non-GAAP financial measures also
facilitate management's internal comparisons to our historical
performance. We believe these non-GAAP financial measures
are useful to investors both because (1) they allow for greater
transparency with respect to key metrics used by management
in its financial and operational decision-making and (2) they are
used by our institutional investors and the analyst community to
help them analyze the health of our business.
There are a number of limitations related to the use of non-
GAAP financial measures. In light of these limitations we provide
specific information regarding the GAAP amounts excluded
from these non-GAAP financial measures and evaluating these
non-GAAP financial measures together with their relevant
financial measures in accordance with GAAP.
For more information on these non-GAAP financial measures,
please see the section titled "Non-GAAP Reconciliations"
included at the end of this deck.
In regards to forward looking non-GAAP guidance provided on
our Q1 2023 earnings release and call, we are not able to
reconcile the forward-looking non-GAAP Adjusted EBITDA
measure to the closest corresponding GAAP measure without
unreasonable efforts because we are unable to predict the
ultimate outcome of certain significant items. These items
include, but are not limited to, significant legal settlements,
unrealized gains and losses on equity investments, tax and
regulatory reserve changes, restructuring costs and acquisition
and financing related impacts.
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