使用警語:中文譯文來源為 Google 翻譯,僅供參考,實際內容請以英文原文為主
Operator
Operator
Ladies and gentlemen, thank you for standing by. My name is Brent, and I will be your conference operator today. At this time, I would like to welcome everyone to the Uber Q4 2021 Earnings Conference Call. (Operator Instructions)
女士們,先生們,謝謝你們的支持。我的名字是布倫特,今天我將成為您的會議接線員。在這個時候,我想歡迎大家參加優步 2021 年第四季度收益電話會議。 (操作員說明)
Thank you. I would now like to turn the call over to Mr. Balaji Krishnamurthy, Head of Investor Relations. Please go ahead.
謝謝你。我現在想將電話轉給投資者關係主管 Balaji Krishnamurthy 先生。請繼續。
Balaji Krishnamurthy - Head of IR
Balaji Krishnamurthy - Head of IR
Thank you, operator. Thank you for joining us today, and welcome to Uber Technologies' fourth quarter 2021 earnings presentation. On the call today, we have Uber CEO, Dara Khosrowshahi; and CFO, Nelson Chai.
謝謝你,接線員。感謝您今天加入我們,並歡迎觀看 Uber Technologies 的 2021 年第四季度收益報告。在今天的電話會議上,我們有 Uber 首席執行官 Dara Khosrowshahi;和首席財務官Nelson Chai。
During today's call, we will present both GAAP and non-GAAP financial measures. Additional disclosures regarding these non-GAAP measures, including a reconciliation of GAAP to non-GAAP measures, are included in the press release, supplemental slides and our filings with the SEC, each of which is posted to investor.uber.com. As a reminder, these numbers are unaudited and may be subject to change.
在今天的電話會議中,我們將介紹 GAAP 和非 GAAP 財務指標。有關這些非 GAAP 措施的其他披露,包括 GAAP 與非 GAAP 措施的對賬,包含在新聞稿、補充幻燈片和我們向 SEC 提交的文件中,每一份文件都發佈到investor.uber.com。提醒一下,這些數字未經審計,可能會發生變化。
Certain statements in this presentation and on this call are forward-looking statements. Such statements can be identified by terms such as believe, expect, intend and may. You should not place undue reliance on forward-looking statements. Actual results may differ materially from these forward-looking statements, and we do not undertake any obligation to update any forward-looking statements we make today except as required by law. For more information about factors that may cause actual results to differ materially from forward-looking statements, please refer to the press release we issued today as well as risks and uncertainties described in our most recent quarterly report on Form 10-Q for the quarter ended September 30, 2021, and in other filings made with the SEC when available.
本演示文稿和本次電話會議中的某些陳述是前瞻性陳述。此類陳述可以通過相信、預期、打算和可能等術語來識別。您不應過分依賴前瞻性陳述。實際結果可能與這些前瞻性陳述存在重大差異,除法律要求外,我們不承擔更新我們今天做出的任何前瞻性陳述的任何義務。有關可能導致實際結果與前瞻性陳述產生重大差異的因素的更多信息,請參閱我們今天發布的新聞稿以及我們最近的季度報告中描述的風險和不確定性,表格 10-Q 結束的季度2021 年 9 月 30 日,以及向 SEC 提交的其他文件(如果有)。
Following prepared remarks today, we will publish the prepared remarks on our Investor Relations website, and we will open the call to questions. For the remainder of this discussion, all fourth quarter growth rates reflect year-over-year growth and are on a constant currency basis unless otherwise noted.
在今天準備好的評論之後,我們將在我們的投資者關係網站上發布準備好的評論,我們將打開提問電話。對於本次討論的其餘部分,除非另有說明,否則所有第四季度的增長率都反映了同比增長,並且是在不變的貨幣基礎上進行的。
Lastly, we ask you to review our earnings press release for a detailed Q4 financial review and our Q4 supplemental slides deck for additional disclosures that provide context on recent business performance.
最後,我們要求您查看我們的收益新聞稿以獲取詳細的第四季度財務審查和我們的第四季度補充幻燈片,以獲取提供近期業務業績背景的額外披露。
With that, let me hand it over to Dara.
有了這個,讓我把它交給達拉。
Dara Khosrowshahi - CEO & Director
Dara Khosrowshahi - CEO & Director
Thanks, Balaji. We had a strong quarter to close out 2021 on a high note. Our results continued to demonstrate both how eager people are to move around their cities as restrictions ease up and how delivery has become an important day -- important part of their daily lives. Gross bookings of $25.9 billion came in at the high end of our guidance range, with MAPCs of 118 million, reaching an all-time high. Continued strong execution by our team delivered $86 million of adjusted EBITDA, nicely above our guidance range.
謝謝,巴拉吉。我們有一個強勁的季度以高調結束 2021 年。我們的結果繼續表明,隨著限制的放鬆,人們對在城市中移動的渴望以及交付如何成為重要的一天——他們日常生活的重要組成部分。總預訂量為 259 億美元,位於我們指導範圍的高端,MAPC 為 1.18 億,創下歷史新高。我們團隊的持續強勁執行帶來了 8600 萬美元的調整後 EBITDA,遠高於我們的指導範圍。
In Q4, we continued to see strong recovery in our Mobility business. December gross bookings nearly recovered to 2019 levels and approached a $50 billion annual run rate in the first few weeks of the month.
在第四季度,我們的移動業務繼續強勁復甦。 12 月的總預訂量幾乎恢復到 2019 年的水平,並在本月的前幾週接近 500 億美元的年運行率。
Meanwhile, Delivery volumes stayed strong as we continue to improve the profitability profile of that business. Delivery reported its first adjusted EBITDA profit, including for the first time in the U.S., even as Uber Eats became the fastest-growing delivery player in America.
與此同時,隨著我們繼續改善該業務的盈利能力,交付量保持強勁。 Delivery 報告了其首次調整後的 EBITDA 利潤,包括在美國的首次盈利,儘管 Uber Eats 已成為美國增長最快的外賣公司。
Uber Freight closed the transformative acquisition with Transplace during the quarter. It's never been clearer that our supply chains are in dire need of technical innovation. And along with Transplace, Uber Freight, now at $1 billion quarterly run rate, is well positioned to bring digital-native change to the enormous logistics ecosystem.
優步貨運在本季度完成了與 Transplace 的變革性收購。我們的供應鏈迫切需要技術創新,這一點從未如此清晰。與 Transplace 一起,Uber Freight 目前的季度運營成本為 10 億美元,處於有利地位,可以為龐大的物流生態系統帶來數字原生變革。
Looking back at 2021, we had a great year. I can't say it went exactly as I predicted, but our teams have shown an incredible ability to remain agile and manage through change effectively. Despite COVID and all of its unpredictability, we now have reported our second adjusted EBITDA profitable quarter, and we expect to generate significant and improving profitability in 2022.
回顧2021年,我們度過了美好的一年。我不能說它完全按照我的預期進行,但我們的團隊已經表現出令人難以置信的保持敏捷和有效管理變革的能力。儘管 COVID 及其所有不可預測性,我們現在已經報告了我們的第二個調整後 EBITDA 盈利季度,我們預計將在 2022 年產生顯著和提高的盈利能力。
Of course, COVID remains a part of our lives. We started to see some impact of the Omicron wave late in December. The silver lining is that the impacts are becoming more muted as we learn to live with the virus. Lockdowns are less strict, and vaccines are available across the world. Omicron also arrived at a time of year when we usually see seasonal declines. So while Mobility gross bookings decreased 21% from December to January, that's only about 10 points worse than what we typically see at this time of year. On a trips basis, the decline was even more muted, down just 15% month-on-month, with pricing coming down meaningfully as marketplace balance improved.
當然,COVID仍然是我們生活的一部分。我們在 12 月下旬開始看到 Omicron 浪潮的一些影響。一線希望是,隨著我們學會與病毒共存,影響變得越來越小。封鎖不那麼嚴格,疫苗在世界各地都可以買到。 Omicron 也出現在我們通常會看到季節性下降的一年中。因此,儘管從 12 月到 1 月,Mobility 的總預訂量下降了 21%,但這僅比我們每年這個時候通常看到的低 10 個百分點。在旅行的基礎上,降幅更為溫和,環比僅下降 15%,隨著市場平衡的改善,價格顯著下降。
It appears that the Omicron impact on our Mobility business has come and gone relatively quickly, even faster than the global case counts. We're beginning to see several major economies in Europe relaxing COVID restrictions, including the U.K., the Netherlands, Denmark and Norway, with more countries expected to take similar actions soon. In the last 2 weeks, the Mobility recovery has rapidly resumed with both trips and gross bookings recovering and Mobility gross bookings last week up 25% month-on-month.
看來 Omicron 對我們的移動業務的影響來來去去相對較快,甚至比全球案例數量還要快。我們開始看到歐洲幾個主要經濟體放鬆了對新冠病毒的限制,包括英國、荷蘭、丹麥和挪威,預計更多國家將很快採取類似行動。在過去的兩周中,出行和總預訂量都在迅速恢復,出行量恢復迅速,上週出行總預訂量環比增長 25%。
I'll quickly touch on driver supply, which continues to improve. We made steady progress through product innovation, more targeted marketing and on-the-ground operational refinements to onboard more drivers and couriers faster. Nearly 325,000 people started to work on Uber in the quarter, bringing our total global active earner base to 4.4 million people, the largest it's been since the second quarter of 2020.
我將很快談到驅動器供應,它會繼續改善。我們通過產品創新、更有針對性的營銷和實地運營改進穩步推進,以更快地搭載更多司機和快遞員。本季度有近 325,000 人開始在優步工作,使我們的全球活躍收入群體總數達到 440 萬人,這是自 2020 年第二季度以來的最大數字。
One important call-out is that while the Omicron wave acted as a temporary deterrent to demand, supply has been much more stable. As a result, surge and wait times have improved to their lowest level in the year. Recent internal research has shown that Uber is by far the preferred choice amongst drivers, and we're confident that our marketplace will be more, not less balanced going forward.
一個重要的呼籲是,雖然 Omicron 浪潮對需求起到了暫時的威懾作用,但供應卻更加穩定。結果,激增和等待時間已改善到今年的最低水平。最近的內部研究表明,到目前為止,Uber 是司機的首選,我們相信我們的市場將更加平衡,而不是更加平衡。
Turning now to Delivery, which exceeded our expectations and performed better than we typically see in January, likely in part to Omicron. This relative overperformance has moderated just as the Mobility trends have improved. Overall trends continue to be very healthy, and there's no question now that Delivery's here stay, both in food and other verticals.
現在轉向交付,它超出了我們的預期,並且比我們通常在一月份看到的表現更好,可能部分歸功於 Omicron。隨著流動性趨勢的改善,這種相對的超額表現已經緩和。總體趨勢仍然非常健康,現在毫無疑問,無論是在食品領域還是在其他垂直領域,Delivery 都將繼續存在。
Delivery reached an important milestone in Q4, generating $25 million in segment-adjusted EBITDA and marking the first profitable quarter of many to come. And as I said on our last call with you, we view the turn to EBITDA profitability as a big moment but ultimately just a step along the way to creating a self-sustaining and incredibly valuable business. With this milestone accomplished, Delivery is well positioned to self-fund growth in grocery, retail and local commerce. And let me underscore, we expect significant EBITDA profit generation even after those investments.
交付在第四季度達到了一個重要的里程碑,產生了 2500 萬美元的細分市場調整後 EBITDA,標誌著未來許多季度的第一個盈利季度。正如我在上次與您的電話中所說的那樣,我們認為轉向 EBITDA 盈利能力是一個重要時刻,但最終只是朝著創建一個自我維持和極其有價值的業務邁出的一步。隨著這一里程碑的完成,Delivery 可以很好地為雜貨、零售和本地商業的自籌資金增長做好準備。讓我強調一下,即使在這些投資之後,我們也預計會產生顯著的 EBITDA 利潤。
Finally, it's worth spending a few minutes on a couple of our growth initiatives across the company. Our Advertising business ended the year with around $225 million in run rate revenue, well above the $100 million target we laid out earlier this year. While much of the attention has been focused on sponsor listing for Uber Eats, we have a road map to build a much broader business, including in Mobility. We also closed the acquisition of Drizly during the quarter, which will be a nice addition to our advertising efforts.
最後,值得花幾分鐘時間在我們整個公司的幾個增長計劃上。我們的廣告業務在年底的運營收入約為 2.25 億美元,遠高於我們今年早些時候制定的 1 億美元目標。雖然大部分注意力都集中在 Uber Eats 的讚助商名單上,但我們有一個路線圖來建立更廣泛的業務,包括移動業務。我們還在本季度完成了對 Drizly 的收購,這將是我們廣告工作的一個很好的補充。
Our New Verticals businesses, which includes grocery, alcohol, convenience and other nonrestaurant efforts, grew nearly 10% quarter-on-quarter in Q4 on an organic basis, reaching a best month ever in December. We continue to make progress in improving nonrestaurant merchant selection in the U.S. And as a result, the U.S. grew at 3x the rate of our global New Verticals business during the quarter.
我們的新垂直業務(包括雜貨店、酒類、便利店和其他非餐廳業務)在第四季度的有機基礎上環比增長了近 10%,在 12 月達到了有史以來最好的一個月。我們繼續在改善美國的非餐廳商家選擇方面取得進展。因此,本季度美國的增長速度是我們全球新垂直業務的 3 倍。
Internationally, we continue to have a strong lead in grocery and other verticals. We're working to build on that lead with new quick commerce offerings, and we're intentionally taking a partner-led approach here with encouraging signs of adoption. For example, in France, Carrefour Sprint stores have represented nearly 20% of New Verticals orders in Paris and with significantly higher per store productivity than other New Verticals merchants in market.
在國際上,我們在雜貨和其他垂直領域繼續保持領先地位。我們正在努力通過新的快速商務產品來鞏固這一領先地位,並且我們有意在此採取以合作夥伴為主導的方法,並有令人鼓舞的採用跡象。例如,在法國,家樂福 Sprint 門店佔巴黎 New Verticals 訂單的近 20%,其每家門店的生產力明顯高於市場上其他 New Verticals 商家。
Uber for Business also reached a milestone during the quarter with managed U4B gross bookings surpassing its previous high from 2019 with well over $1 billion in annual run rate GBs. Over the next few years, U4B's enterprise offerings, which importantly spans both Mobility and Delivery, will significantly outpace our consumer business and become a meaningful contributor to growth and profitability.
Uber for Business 在本季度也達到了一個里程碑,管理的 U4B 總預訂量超過了 2019 年以來的最高水平,年運行率 GB 超過 10 億美元。在接下來的幾年裡,U4B 的企業產品,重要的是跨越移動性和交付,將大大超過我們的消費者業務,並成為增長和盈利能力的重要貢獻者。
Before I hand it over to Nelson, a plug for everyone to tune into our Investor Day tomorrow morning, which you can live stream on our website. Over the past few quarters, we've talked a lot about the power of the platform and the potential for Uber's complementary services to contribute to lower cost of acquisition and higher lifetime value. We're looking forward to discussing our strategy, our plans for each of our businesses and the growing advantage of our platform in a lot more detail tomorrow.
在我把它交給 Nelson 之前,這是一個供大家收聽明天早上投資者日的插件,您可以在我們的網站上直播。在過去的幾個季度中,我們就平台的力量以及優步的補充服務在降低購置成本和提高生命週期價值方面的潛力進行了很多討論。我們期待明天更詳細地討論我們的戰略、我們每項業務的計劃以及我們平台日益增長的優勢。
Uber is emerging from the pandemic stronger than ever. As long as we execute on the opportunities in front of us, we're exceptionally well positioned to deliver strong, profitable growth with significant expansion in profitability and cash flow generation over the coming quarters and years.
優步正以比以往任何時候都更強大的方式擺脫大流行。只要我們抓住擺在我們面前的機會,我們就可以在未來幾個季度和幾年內實現強勁的盈利增長,並顯著擴大盈利能力和現金流產生。
Now over to Nelson.
現在轉到尼爾森。
Nelson Juseuk Chai - CFO
Nelson Juseuk Chai - CFO
Thanks, Dara. Q4 was a strong quarter in all dimensions with solid gross bookings, adjusted EBITDA and margin performance for all of our businesses.
謝謝,達拉。第四季度在所有方面都是一個強勁的季度,我們所有業務的總預訂量、調整後的 EBITDA 和利潤率表現都很穩健。
Mobility gross bookings grew 67%, and the segment generated a healthy adjusted EBITDA margin of 5.1% of gross bookings, up 80 basis points year-over-year even as take rate declined 160 basis points year-over-year, primarily due to our driver supply investments. Excluding those investments, Mobility incremental margins would have approached 10% on a year-over-year basis. With marketplace balance in much better spot than at any point in 2021, we are confident that Mobility's incremental margins will improve meaningfully in 2022.
移動性總預訂量增長 67%,該部門產生了佔總預訂量 5.1% 的健康調整後 EBITDA 利潤率,同比增長 80 個基點,儘管採用率同比下降 160 個基點,這主要是由於我們的驅動供應投資。排除這些投資,Mobility 的增量利潤率將同比接近 10%。由於市場平衡比 2021 年的任何時候都好得多,我們相信 Mobility 的增量利潤率將在 2022 年顯著提高。
Delivery gross bookings grew 33% and reached its first adjusted EBITDA profitable quarter with a $25 million EBITDA profit in Q4 as core food delivery profitability expanded to more than cover our investments into grocery and other new initiatives. Importantly, we recorded our first adjusted EBITDA profit for Delivery in the U.S. and Canada, expanding margins 180 basis points of gross bookings year-over-year while gaining category share in the U.S.
交付總預訂量增長了 33%,並在第四季度實現了第一個調整後的 EBITDA 盈利季度,實現了 2500 萬美元的 EBITDA 利潤,因為核心食品交付盈利能力擴大到超過了我們對雜貨店和其他新舉措的投資。重要的是,我們在美國和加拿大記錄了第一個調整後的 EBITDA 利潤,使總預訂量的利潤率同比增長 180 個基點,同時在美國獲得了類別份額。
Freight closed the previously announced transaction of Transplace during Q4, significantly expanding Freight scale and the scope of our offering by combining Freight's digital freight brokerage technology with Transplace's managed transportation platform. Both Freight and Transplace are ending 2022 with strong momentum with healthy onboarding of new logos, and we are excited to demonstrate the potential of the combined asset.
Freight 在第四季度完成了先前宣布的 Transplace 交易,通過將 Freight 的數字貨運經紀技術與 Transplace 的託管運輸平台相結合,顯著擴大了 Freight 規模和我們的產品範圍。 Freight 和 Transplace 都將在 2022 年結束時勢頭強勁,新徽標的健康加入,我們很高興展示合併資產的潛力。
Looking ahead to full year 2022, we continue to expect to deliver incremental EBITDA margins as a percentage of gross bookings of around 10% for Mobility and over 5% for Delivery. In addition, we expect Freight to generate positive adjusted EBITDA in 2022. While we continue to invest in platform R&D to ensure our products continue to be the best out there, we expect to deliver healthy leverage on that line as well. Taken together, those commitments translate to a meaningful profitability expansion for Uber in 2022.
展望 2022 年全年,我們繼續預計 EBITDA 利潤率將增加,佔總預訂量的百分比約為移動業務的 10%,交付業務的百分比將超過 5%。此外,我們預計貨運將在 2022 年產生積極的調整後 EBITDA。雖然我們繼續投資於平台研發以確保我們的產品繼續保持最佳狀態,但我們也希望在該產品線上提供健康的槓桿作用。總而言之,這些承諾轉化為 2022 年 Uber 的有意義的盈利能力擴張。
Turning to our balance sheet and liquidity position. We continue to maintain a strong liquidity position, ending the quarter with $4.3 billion of cash and cash equivalents, and our equity stakes were marked at $12.5 billion. We benefited from the change in value of Grab and Aurora as these companies reached liquidity milestones as well as gains from selling some of our interest in Yandex. These benefits were partially offset by the significant movement in Didi's stock from September 30 to December 31 as we marked down the value of our Didi stake by $1.3 billion. The net effect of these moves was a $1.4 billion tailwind to our GAAP net income.
轉向我們的資產負債表和流動性狀況。我們繼續保持強勁的流動性狀況,在本季度末擁有 43 億美元的現金和現金等價物,我們的股權為 125 億美元。我們從 Grab 和 Aurora 的價值變化中受益,因為這些公司達到了流動性里程碑,以及出售我們在 Yandex 的部分權益而獲得的收益。這些收益被 9 月 30 日至 12 月 31 日期間滴滴股票的重大變動部分抵消,因為我們將滴滴股份的價值下調了 13 億美元。這些舉措的淨效應是對我們的 GAAP 淨收入產生了 14 億美元的順風。
As I have previously noted, our GAAP net income may continue to see swings from quarter-to-quarter from the large equity stakes on our balance sheet. While we intend to monetize some of our financial stakes at an appropriate time, we have sufficient liquidity to give us the flexibility to maintain these positions with the aim of maximizing value for Uber and our shareholders.
正如我之前所指出的,我們的 GAAP 淨收入可能會繼續隨著我們資產負債表上的大量股權而出現季度波動。雖然我們打算在適當的時候將我們的部分財務股權貨幣化,但我們有足夠的流動性讓我們能夠靈活地維持這些頭寸,以實現優步和我們股東的價值最大化。
I'll conclude my remarks with an update on recent business trends and Q1 outlook. It's important to note that typical seasonality during Q1 is for Mobility and Delivery trips and gross bookings to be flat quarter-over-quarter. Given Omicron-related demand impact, we expect Mobility gross bookings to decline quarter-over-quarter, while Delivery is likely to be flat to up modestly. In aggregate, we estimate these demand impacts to be $1 billion to $1.2 billion of drag in Q1 gross bookings.
我將以最近的業務趨勢和第一季度前景的更新來結束我的發言。重要的是要注意,第一季度的典型季節性是移動和交付旅行和總預訂量環比持平。鑑於與 Omicron 相關的需求影響,我們預計移動性總預訂量將環比下降,而交付量可能持平或小幅上升。總的來說,我們估計這些需求影響將拖累第一季度的總預訂量為 10 億至 12 億美元。
Additionally, Q1 will represent the first full quarter of Transplace contributions, which is expected to add an incremental $600 million in quarter 1 to Freight gross bookings relative to Q4. Despite the meaningful gross bookings impact, we are confident that the breadth of our business will allow us to expand profitability.
此外,第一季度將代表 Transplace 貢獻的第一個完整季度,相對於第四季度,預計第一季度貨運總預訂量將增加 6 億美元。儘管總預訂量產生了有意義的影響,但我們相信,我們業務的廣度將使我們能夠擴大盈利能力。
With that context for Q1, we expect total company gross bookings to be between $25 billion and $26 billion, representing year-over-year growth of 28% to 33%. And we expect total company adjusted EBITDA profit between $100 million and $130 million for the quarter.
在第一季度的這種背景下,我們預計公司總預訂額將在 250 億美元至 260 億美元之間,同比增長 28% 至 33%。我們預計本季度公司調整後的 EBITDA 總利潤在 1 億美元至 1.3 億美元之間。
With that, let's open it up to questions. Thank you.
有了這個,讓我們提出問題。謝謝你。
Operator
Operator
(Operator Instructions) Your first question comes from the line of Doug Anmuth with JPMorgan.
(操作員說明)您的第一個問題來自摩根大通的 Doug Anmuth。
Douglas Till Anmuth - MD
Douglas Till Anmuth - MD
I just wanted to ask you about drivers and couriers. I think you talked about 4.4 million, and I believe that's relative to 5 million pre-COVID. Just curious kind of what the factors are maybe if you were at a similar level in terms of overall bookings, just what kind of efficiencies you might see relative to pre-COVID and whether you would need a similar kind of number of drivers and couriers at that point. And then also, if you could just talk a little bit about Uber One and what you're seeing early on here given a very compelling value proposition versus previous subscription offerings.
我只是想問你關於司機和快遞員的事。我想你談到了 440 萬,我相信這是相對於 COVID 之前的 500 萬而言的。只是好奇,如果您在整體預訂方面處於相似水平,可能會出現哪些因素,相對於 COVID 之前您可能會看到什麼樣的效率,以及您是否需要類似數量的司機和快遞員那一點。然後,如果你能談談 Uber One 以及你在這裡早期看到的內容,與以前的訂閱產品相比,它具有非常引人注目的價值主張。
Dara Khosrowshahi - CEO & Director
Dara Khosrowshahi - CEO & Director
Yes, absolutely, Doug. So as it relates to drivers and couriers, first factor that we're seeing that's really encouraging is that the onboarding rate and onboarding conversion rates are happening much more successfully. This is because we essentially onboard earners and then we give them work opportunities rather than onboarding them either as a driver or as a courier. And as a result, earners can start earning much faster on our platform.
是的,當然,道格。因此,當它與司機和快遞員有關時,我們看到的第一個真正令人鼓舞的因素是入職率和入職轉化率正在發生得更加成功。這是因為我們本質上是讓有收入的人加入,然後我們給他們工作機會,而不是讓他們作為司機或快遞員加入。因此,賺錢的人可以在我們的平台上更快地開始賺錢。
So we're seeing a lot of positive input into the platform. It's also great because earners can earn during a period when everyone is trying to get back on their feet without as much government help as we have previously. So it works out for everyone, and it definitely helps out for our marketplace. While we haven't done the specific analysis of like how many earners do we need on a GB basis, it's my strong instinct that our marketplace has gotten more efficient. This is because we are now cross-dispatching between driving people and driving things that creates higher utilization for earners and makes for a more efficient marketplace.
因此,我們看到該平台有很多積極的投入。這也很棒,因為在沒有像我們以前那樣多的政府幫助的情況下,每個人都試圖重新站起來的時期,賺錢的人可以賺錢。所以它適用於每個人,它肯定有助於我們的市場。雖然我們還沒有具體分析我們在 GB 的基礎上需要多少收入者,但我強烈的直覺是我們的市場變得更有效率。這是因為我們現在在駕駛人和駕駛事物之間進行交叉調度,從而為收入者創造更高的利用率並打造更高效的市場。
We're also seeing, on the Delivery side, as the marketplace grows and essentially densifies, we got more restaurants on the marketplace. We have more consumers ordering. And as a result, the average length of the delivery is coming down so that you -- essentially delivering is becoming more efficient from a network perspective.
我們還看到,在交付方面,隨著市場的增長和本質上的密集化,我們在市場上有更多的餐館。我們有更多的消費者訂購。結果,交付的平均長度正在下降,因此從網絡的角度來看,本質上交付變得更加高效。
So network efficiency is up. The efficiency essentially relies -- the efficiency results in earners being busy a higher percentage of the time when they're looking for opportunities. And as you can see, kind of the marketplace metrics are coming down in terms of surge, in terms of ETAs, and delivery times are first rate. So the efficiency trends that we're seeing are quite encouraging.
所以網絡效率提高了。效率本質上依賴於——效率導致收入者在尋找機會時忙碌的比例更高。正如您所看到的,就激增、ETA 和交貨時間而言,某種市場指標正在下降。因此,我們看到的效率趨勢非常令人鼓舞。
As far as Uber One goes, it's very early. And last quarter, we talked about having over 6 million members around the world. And the early signal that we're seeing for Uber One is very encouraging. It's a consumer value proposition that's quite compelling because pricing is equal to the pricing of our competition but our content is better, right? It's just we have content in terms of free delivery and discounts on rides and the discounts on rides in a world that is increasingly opening, thank God, is going to become more and more valuable. So we believe we have a content advantage over our competition that is going to show up over time and is going to compound upon itself.
就優步一號而言,現在還為時過早。上個季度,我們談到在全球擁有超過 600 萬會員。我們看到的 Uber One 的早期信號非常令人鼓舞。這是一個非常引人注目的消費者價值主張,因為定價等於我們競爭對手的定價,但我們的內容更好,對吧?只是我們有免費送貨和乘車折扣方面的內容,感謝上帝,在一個日益開放的世界中,乘車折扣將變得越來越有價值。因此,我們相信我們擁有超越競爭對手的內容優勢,這種優勢會隨著時間的推移而顯現出來,並且會不斷疊加。
Operator
Operator
Your next question comes from the line of Eric Sheridan with Goldman Sachs.
您的下一個問題來自高盛的 Eric Sheridan。
Eric James Sheridan - Research Analyst
Eric James Sheridan - Research Analyst
I know we're going to talk more longer term tomorrow, but just maybe taking a step back on some of the shorter-term dynamics. In terms of the Mobility business, we talked with one of your competitors last night about the dynamic of product mix and geo mix in the U.S. Can you give us a little bit of color on what you're seeing globally from geo mix and opened versus closed environment or product mix like airport rides versus business rides or elements of that in terms of how that might be driving elements of December into January? And how should we think about that as the quarter evolves?
我知道我們明天將討論更長期的問題,但可能會在一些短期動態上退後一步。在移動業務方面,我們昨晚與您的一位競爭對手討論了美國產品組合和地理組合的動態,您能否給我們一些關於您在全球範圍內從地理組合和開放對比中看到的情況?封閉的環境或產品組合,如機場遊樂設施與商務遊樂設施或其中的元素,這可能如何推動 12 月到 1 月的元素?隨著季度的發展,我們應該如何考慮這一點?
Dara Khosrowshahi - CEO & Director
Dara Khosrowshahi - CEO & Director
Yes, absolutely. I think generally, the trends that Lyft talked about during their call are fairly consistent with our trips. So for example, we saw airport GBs up about 200% year-on-year, about 175% in the U.S. In December, rides tend to get longer, holiday rides, et cetera. So we saw similar trends in terms of length of trip, et cetera, which certainly is encouraging. I'd say nothing significant there, one way or the other.
是的,一點沒錯。我認為一般來說,Lyft 在電話會議中談到的趨勢與我們的旅行相當一致。因此,例如,我們看到機場 GB 同比增長約 200%,在美國增長約 175%。12 月,遊樂設施往往會變得更長,假日遊樂設施等等。因此,我們在旅行時長等方面看到了類似的趨勢,這當然是令人鼓舞的。我不會說任何重要的東西,一種或另一種方式。
Operator
Operator
Your next question comes from the line of Justin Post with Bank of America.
您的下一個問題來自美國銀行的 Justin Post。
Justin Post - MD
Justin Post - MD
Wonder if you could talk a little bit more about the driver incentives in the quarter and how you see kind of the take rates evolving. Is there some big upside there as you look forward to the next couple of years? And how that flows through the margins.
想知道你是否可以多談談本季度的司機激勵措施,以及你如何看待收取率的變化。當你期待未來幾年的時候,那裡有什麼大的好處嗎?以及它如何通過邊緣流動。
Nelson Juseuk Chai - CFO
Nelson Juseuk Chai - CFO
So first of all, I think if you remember, Justin, when we did the Q3 call, we actually highlighted that was going to be the fact. And a lot of it just had to do with marketplaces opening and closing because of the pandemic. And so we knew when we talked to you that places like Australia were going to open, and then we are going to lean in. I think you heard in my prepared remarks, if you actually backed out for some of that, we would have seen the incremental margins that we've talked about, and there is a little bit of seasonality.
所以首先,我想如果你記得,賈斯汀,當我們進行第三季度電話會議時,我們實際上強調了這將是事實。其中很多只是與大流行導致的市場開放和關閉有關。因此,當我們與您交談時,我們知道像澳大利亞這樣的地方將開放,然後我們將採取行動。我想您在我準備好的講話中聽到了,如果您真的退出其中一些,我們會看到我們已經討論過的增量利潤,並且有一點季節性。
But again, what I would say is that our goal is to make sure that we continue to overachieve both on the top line but as well as on the bottom line and the profitability and expanding the margins. And so we did that, and we knew we did that. And so because of that, we will take opportunities at some point to continue to build supply. We are entering this year, as you heard in our comments, in probably our best supply situation we've had since the pandemic started and certainly in 2021.
但同樣,我要說的是,我們的目標是確保我們繼續在頂線和底線以及盈利能力和擴大利潤方面都取得超額成就。所以我們做到了,我們知道我們做到了。因此,我們將在某個時候抓住機會繼續建立供應。正如您在我們的評論中所聽到的那樣,我們進入今年可能是自大流行開始以來(當然是在 2021 年)以來我們擁有的最佳供應狀況。
And so again, we think that will be beneficial as we go into 2022. You'll hear us talk a little bit more about it. But yes, I think that you should -- we believe that we will see good margin expansion as we think about 2022.
再說一次,我們認為這將是有益的,因為我們進入 2022 年。你會聽到我們更多地談論它。但是,是的,我認為你應該——我們相信,在考慮 2022 年時,我們將看到良好的利潤率增長。
Dara Khosrowshahi - CEO & Director
Dara Khosrowshahi - CEO & Director
And Justin, I'd also remind you that we manage to EBITDA dollars and margins and free cash flow dollars and margins as a percentage of GB, and revenue margin is an input as part of it. There are algos that are constantly balancing between pricing in order to maximize getting the next ride and/or pricing -- driver side pricing that is optimal as well. So the revenue margin that you see, it's more of an output. Like at the end of the month or at the end of the quarter, we like look at our revenue margins, but we're managing to the business.
還有賈斯汀,我還要提醒你,我們設法將 EBITDA 美元和利潤率以及自由現金流美元和利潤率作為 GB 的百分比,而收入利潤率是其中的一部分。有一些算法在定價之間不斷平衡,以最大限度地獲得下一次乘車和/或定價——駕駛員方面的定價也是最優的。所以你看到的利潤率,更多的是一種產出。就像在月底或季度末一樣,我們喜歡查看我們的收入利潤率,但我們正在管理業務。
We're trying to maximize gross bookings. We're trying to maximize trips. And frankly, we're going to -- we're trying to maximize throughput. So our marketplace delivers maximum earnings to the earners on our marketplace because it means it becomes a much more attractive marketplace for earners to participate in.
我們正在嘗試最大化總預訂量。我們正在努力最大限度地提高旅行次數。坦率地說,我們將——我們正在努力最大限度地提高吞吐量。因此,我們的市場為我們市場上的收入者提供了最大的收入,因為這意味著它成為一個對收入者參與更具吸引力的市場。
One area of upside, I would tell you that, you have seen in our Delivery margins, which is like Delivery growth was great, we were able to gain share and margins increased. It's because we're optimizing on cost per trip around as the network is densifying. Cost per trip is coming down pretty substantially, especially in the U.S., and we think there's more to come. And that's just pure goodness because couriers are busy, you're getting your food quickly, it's a revenue margin upside, and we can reinvest that revenue margin essentially and gaining share.
一個上行空間,我會告訴你,你已經在我們的交付利潤率中看到了,就像交付增長很棒,我們能夠獲得份額並且利潤率增加了。這是因為隨著網絡的密集化,我們正在優化每次旅行的成本。每次旅行的成本正在大幅下降,尤其是在美國,我們認為還會有更多。這純粹是好事,因為快遞員很忙,你很快就能拿到食物,這是一個收入增長空間,我們可以從本質上再投資該收入利潤並獲得份額。
Operator
Operator
Your next question comes from the line of Brian Nowak with Morgan Stanley.
您的下一個問題來自摩根士丹利的 Brian Nowak。
Brian Thomas Nowak - Research Analyst
Brian Thomas Nowak - Research Analyst
Two, just a -- the first one, I wanted to ask about the category share gains in the U.S. food delivery. Any specific sort of adjustments you've made or strategic developments that you've done that have really sort of driven that? And how do you think about still existing low-hanging fruit areas to further improve the food delivery market share? And then secondly, Dara, just curious to hear kind of qualitatively how you think about some of the key drivers of the multiyear consumer rideshare side of the business, thinking through One and other pricing mechanisms, et cetera.
第二個,第一個,我想問一下美國食品配送的類別份額增長。您所做的任何特定類型的調整或您所做的戰略發展確實推動了這一點?您如何看待仍然存在的低垂水果區域以進一步提高外賣市場份額?其次,Dara,只是好奇地想听聽你如何看待業務中多年消費者拼車方面的一些關鍵驅動因素,思考 One 和其他定價機制等等。
Dara Khosrowshahi - CEO & Director
Dara Khosrowshahi - CEO & Director
Sure. Absolutely. As far as the first question in the U.S. goes, I'd say it's just -- it's core execution. None of this is wizardry. Our selection in the U.S. is improving. Our selection in suburbs is getting much better. Still not where it needs to be, but it's getting much better. I talked about cost per trip coming down, which allows us to reinvest in the top line, whether it's in marketing or it's incentives. Membership as a percentage of our gross bookings is increasing, so we're getting more frequency coming through the system.
當然。絕對地。至於美國的第一個問題,我想說這只是 - 它是核心執行。這些都不是巫術。我們在美國的選擇正在改善。我們在郊區的選擇越來越好。仍然不是它需要的地方,但它正在變得更好。我談到每次旅行的成本下降,這使我們能夠對頂線進行再投資,無論是營銷還是激勵措施。會員占我們總預訂量的百分比正在增加,因此我們通過該系統獲得的頻率越來越高。
And something that we'll talk more about tomorrow is that the cross-platform activity across both Mobility and Delivery continues to increase. That is chiefly, at this point, benefiting the Delivery business. It's an attribute that is completely unique to Uber, and it is becoming more of a factor. So there's like these 3 kind of eaters that are coming through the system that aren't available to our competitors. New eaters as a percentage of our total gross bookings every quarter is actually pretty small because we have a really big base of eaters who are loyal to us who keep coming back.
明天我們將更多討論的是,移動性和交付的跨平台活動繼續增加。在這一點上,這主要是有利於交付業務。這是 Uber 獨有的一個屬性,並且越來越成為一個因素。因此,我們的競爭對手無法通過系統獲得這 3 種食客。新食客占我們每季度總預訂量的百分比實際上很小,因為我們有一個非常大的食客基礎,他們忠誠於我們,並且不斷回來。
But when you have new eaters quarter after quarter after quarter after quarter, it starts compounding. And we believe that we're starting to see the effects of that compounding happened last quarter and certainly this quarter, and we hope that it will continue. If it doesn't, we're not doing our jobs.
但是當你一個季度又一個季度地有新的食客時,它開始復合。我們相信,我們開始看到這種複合的影響在上個季度發生了,當然在本季度發生了,我們希望它會繼續下去。如果沒有,我們就沒有做好我們的工作。
Nelson Juseuk Chai - CFO
Nelson Juseuk Chai - CFO
And the only point I'd add is we did make a change in terms of our leadership in the U.S. at the beginning of the year. And he and his team deserve kudos because it really was a focus, and he and the team have come in and done a terrific job. And so again, we have a lot of confidence going into next year. And you're right, it wasn't for me just the fact that we continue to gain competitive positioning versus our competitors, but we did it in a way where we are now going to be profitable doing it. And so again, a lot of it goes to him and the team because we have a big team of folks here and they really operated well.
我要補充的唯一一點是,我們確實在年初改變了我們在美國的領導地位。他和他的團隊值得稱讚,因為這確實是一個焦點,他和他的團隊已經進來並完成了一項了不起的工作。同樣,我們對明年充滿信心。你是對的,對我來說,這不僅僅是因為我們繼續獲得與競爭對手相比的競爭地位,而且我們以一種我們現在可以盈利的方式做到了這一點。再說一次,很多事情都歸功於他和團隊,因為我們這裡有一支龐大的團隊,他們真的運作良好。
Your second point is on Mobility, I believe. And so the only thing I'd say there is I think tomorrow, you'll get a very, very good overview of our long-term strategy and then how it impacts our medium to long-term views, both in terms of compounding revenue as well as profitability.
我相信你的第二點是關於移動性的。所以我唯一要說的是,我認為明天,你會非常非常了解我們的長期戰略,以及它如何影響我們的中長期觀點,無論是在復合收入方面以及盈利能力。
Just as the marketplaces come back, here's one easy stat for you. We added 20 million new riders just in Q4 in our Mobility business. So if you think about the network effect and our ability to operate across our 10,000 cities and our leadership position, you can think about that leverage that we have globally that nobody else has. And so as the world is coming back, I think that we'll spend a lot of time tomorrow. Mac will spend a lot of tomorrow talking about how we're going to continue to grow at scale and a lot of the untapped areas that we're driving.
就像市場回來一樣,這裡有一個簡單的統計數據。僅在第四季度,我們的移動業務就增加了 2000 萬新乘客。因此,如果您考慮網絡效應、我們在 10,000 個城市開展業務的能力以及我們的領導地位,您可以考慮我們在全球範圍內擁有的、其他人都沒有的影響力。所以隨著世界的回歸,我想我們明天會花很多時間。 Mac 明天將花很多時間談論我們將如何繼續大規模增長以及我們正在推動的許多未開發領域。
Operator
Operator
Your next question comes from the line of Ross Sandler with Barclays.
你的下一個問題來自巴克萊銀行的羅斯桑德勒。
Ross Adam Sandler - MD of Americas Equity Research & Senior Internet Analyst
Ross Adam Sandler - MD of Americas Equity Research & Senior Internet Analyst
I wanted to talk about the Ads update. So you're running well ahead of plan with the $225 million annualized. Just your overall outlook on Advertising, how big that could be and maybe how Drizly coming into the fold might have jump started your...
我想談談廣告更新。因此,您的年化收入為 2.25 億美元,遠遠超出了計劃。只是您對廣告的總體看法,這可能有多大,也許 Drizly 的加入可能已經開始了您的...
Balaji Krishnamurthy - Head of IR
Balaji Krishnamurthy - Head of IR
Ross, you're coming through very muffled. But if you don't mind repeating the question, we'll try and get your response.
羅斯,你的聲音很沉悶。但是,如果您不介意重複這個問題,我們會盡力得到您的答复。
Ross Adam Sandler - MD of Americas Equity Research & Senior Internet Analyst
Ross Adam Sandler - MD of Americas Equity Research & Senior Internet Analyst
Just the outlook from the Ads business and how Drizly might be helping accelerate that plan.
只是廣告業務的前景以及 Drizly 如何幫助加速該計劃。
Dara Khosrowshahi - CEO & Director
Dara Khosrowshahi - CEO & Director
Ross, so the Ad business, we talked about hitting a $225 million run rate in Q4, well above our targets. The momentum in the business is great. Keep in mind that, that is -- the vast majority of that is Delivery, and we are building out ad products that run across Mobility and Delivery and grocery. Drizly is going to be a part of our ad operations.
羅斯,所以廣告業務,我們談到在第四季度達到 2.25 億美元的運行率,遠高於我們的目標。業務發展勢頭良好。請記住,其中絕大多數是交付,我們正在構建跨移動和交付以及雜貨店運行的廣告產品。 Drizly 將成為我們廣告運營的一部分。
For example, Drizly advertising as a percentage of gross bookings is about 8%, which is pretty significant. That's not in the numbers that we read you out on because Drizly has been part of our numbers partially in Q4. But with the mix of higher grocery, higher alcohol, you should expect that to be essentially upside in terms of our Advertising revenue and the growth ahead.
例如,Drizly 廣告佔總預訂量的百分比約為 8%,這是相當可觀的。這不在我們讀出的數字中,因為 Drizly 在第四季度部分是我們數字的一部分。但是,隨著雜貨含量更高、酒精含量更高的混合,您應該期望這在我們的廣告收入和未來增長方面基本上是上升的。
Operator
Operator
Your next question comes from the line of Lloyd Walmsley with UBS.
您的下一個問題來自瑞銀集團的勞埃德·沃姆斯利 (Lloyd Walmsley)。
Lloyd Wharton Walmsley - Analyst
Lloyd Wharton Walmsley - Analyst
So I guess the first one, following up on Justin's question. So are you -- do you feel that you're largely done having to invest in driver supply? And I guess as more drivers come back into the marketplace and pricing comes down, do you see any of them kind of turning back off? Like is there more sensitivity from drivers to maintaining that higher prices? Or is it mostly just you stimulate to get them back on and then they stay on? And then the second one is it sounds like a big effort on improving the driver onboarding flow to get them on the road faster. I guess beyond that beginning period where maybe a driver can only drive for Delivery, are you seeing a big uptick in the percent of drivers that drive for both Delivery and Mobility on an ongoing basis that can kind of help drive that efficiency or sustain that efficiency?
所以我猜是第一個,跟進賈斯汀的問題。那麼,您是否覺得您已經在很大程度上完成了對驅動程序供應的投資?而且我猜隨著越來越多的司機重新進入市場並且價格下降,你是否看到他們中的任何一個會退縮?比如司機對維持更高的價格是否更敏感?還是主要是你刺激讓他們重新開始,然後他們繼續堅持?然後第二個是聽起來像是在改善駕駛員入職流程以使他們更快上路的巨大努力。我猜想,在司機可能只能為送貨而開車的開始階段之後,你是否看到持續為送貨和機動性而開車的司機百分比大幅上升,這有助於提高效率或維持這種效率?
Dara Khosrowshahi - CEO & Director
Dara Khosrowshahi - CEO & Director
Yes, absolutely. We watch driver retention trends very closely. And obviously, in January, with the Omicron wave, we wanted to make sure the demand came down, we were watching the number of drivers on the platform, the number of suppliers, et cetera. And what we've seen are pretty encouraging signs that drivers have stayed on the platform. In general, I would tell you that demand in the platform, both in terms of Mobility and Delivery, is a fast twitch muscle. It moves much faster. And supply -- earner supply on a platform, it's a slow switch muscle. It will respond -- it will respond more slowly than demand, so to speak.
是的,一點沒錯。我們密切關注司機留存趨勢。顯然,在一月份,隨著 Omicron 浪潮的出現,我們希望確保需求下降,我們正在觀察平台上的司機數量、供應商數量等。我們看到的是相當令人鼓舞的跡象,表明司機們一直留在平台上。總的來說,我會告訴你,平台的需求,無論是在移動性和交付方面,都是快速的肌肉。它移動得更快。和供應——平台上的收入供應,這是一個緩慢的轉換肌肉。它會做出反應——可以說,它會比需求更慢地做出反應。
Now that we're seeing the Omicron bounce back, we're pretty confident that our supply situation is looking good right now, and it's going to look good for the balance of the year, but it's always something that we're watching. And generally, retention rates are quite good.
既然我們看到 Omicron 反彈,我們非常有信心我們的供應情況現在看起來不錯,並且對於今年的餘額來說看起來不錯,但這始終是我們正在關注的事情。一般來說,保留率相當不錯。
We are actively looking to sign up drivers -- a higher percentage of drivers to work across platform. And whereas our algorithms previously were, I'd say, more highly tuned towards Mobility-only or Delivery-only, our algorithms are now being tuned to the Uber marketplace and so are cross-dispatching in a much more fluid, elegant way. And that's only going to improve. These are, I would say, relatively early iterations. And you should expect to see more cross-platform activity, both on the consumer side but also on the earner side. And again, we'll have a lot more to say about that tomorrow at Investor Day.
我們正在積極尋求註冊驅動程序——更高比例的驅動程序跨平台工作。雖然我們之前的算法,我會說,更高度地調整為僅移動或僅交付,但我們的算法現在正在調整到優步市場,因此以更加流暢、優雅的方式進行交叉調度。這只會改善。我想說,這些是相對較早的迭代。您應該期望看到更多的跨平台活動,無論是在消費者方面還是在收入者方面。再說一次,我們將在明天的投資者日對此有更多話要說。
Operator
Operator
Your next question comes from the line of Brad Erickson with RBC Capital Markets.
您的下一個問題來自 RBC Capital Markets 的 Brad Erickson。
Bradley D. Erickson - Analyst
Bradley D. Erickson - Analyst
Nelson, I think you mentioned that you expect now over 5% of marginal Delivery bookings to drop to EBITDA. So it sounds like there's maybe a bit of a discretionary component there. I guess I was just wondering sort of what the philosophy is to allow that upside or any potential upside to flow through. Or will it be reinvested? And I guess if so, how.
尼爾森,我想你提到你預計現在超過 5% 的邊際交付預訂將下降到 EBITDA。所以聽起來那裡可能有一點自由裁量權。我想我只是想知道允許這種上漲或任何潛在上漲通過的哲學是什麼。還是會再投資?我想如果是這樣,如何。
Nelson Juseuk Chai - CFO
Nelson Juseuk Chai - CFO
So again, I think, as Dara mentioned earlier, so the 5% is incremental margins as we continue to grow the business. We're not optimizing for that number. We're optimizing to grow our gross bookings and to grow our bottom line, our adjusted EBITDA. And that is really just an output. Obviously, one we watch. I know you guys spend a lot of time watching it.
因此,我認為,正如 Dara 之前提到的,隨著我們繼續發展業務,5% 是增量利潤。我們沒有針對這個數字進行優化。我們正在優化以增加我們的總預訂量並增加我們的底線,我們調整後的 EBITDA。這實際上只是一個輸出。顯然,我們觀看的一個。我知道你們花了很多時間看它。
And so again, I'm really just trying to get some direction. We'll address a little bit more of the mid- to medium-term kind of modeling, if you will, tomorrow. But again, we do expect that we will -- the incremental margin will be around 5% for our Delivery business.
再說一次,我真的只是想找到一些方向。如果您願意,明天我們將討論更多的中中期建模。但同樣,我們確實希望我們的交付業務的增量利潤率約為 5%。
Dara Khosrowshahi - CEO & Director
Dara Khosrowshahi - CEO & Director
And we do think that the 5% represents a balanced viewpoint. It allows us to reinvest where we see growth ahead of us. It allows us to be quite competitive. Again, we have the platform advantage versus our competition, which is just a structural advantage that we have. And then it's also responsible to our shareholders because ultimately, we want to be a growth business, but we want to be a profitable growth business, and we want to be improving margins going forward.
我們確實認為 5% 代表了一個平衡的觀點。它使我們能夠在我們看到未來增長的地方進行再投資。它使我們具有相當的競爭力。同樣,相對於我們的競爭對手,我們擁有平台優勢,這只是我們擁有的結構優勢。然後它也對我們的股東負責,因為最終,我們希望成為一家增長型企業,但我們希望成為一家盈利的增長型企業,並且我們希望在未來提高利潤率。
Operator
Operator
Your next question comes from the line of Deepak Mathivanan with Wolfe Research.
您的下一個問題來自 Wolfe Research 的 Deepak Mathivanan。
Deepak Mathivanan - Research Analyst
Deepak Mathivanan - Research Analyst
Great. Two quick ones. So first, following up on the driver incentives and incremental margins. You noted that you expect incremental margins on the rides business to be like 10% for '22. How should we generally think about the sensitivity of driver incentives through the year to that? Is that something that you can achieve even if markets come back in elevated strength globally and then maybe driver shortages kind of are more widespread geographically? And then sort of a second question on the Eats side. It seems like MAPCs, frequency, basket size were all stable quarter-to-quarter. Can you talk about whether there were any geographical discrepancies maybe in some countries where we've been reopened for a while compared to other markets?
偉大的。兩個快的。因此,首先,跟進司機激勵措施和增量利潤。您指出,您預計 22 年遊樂設施業務的增量利潤率將達到 10%。我們一般應該如何看待全年司機激勵措施對此的敏感性?即使市場在全球範圍內恢復強勢,然後司機短缺可能在地理上更加普遍,你能實現這一目標嗎?然後是關於 Eats 方面的第二個問題。似乎 MAPC、頻率、籃子大小都保持穩定。您能否談談與其他市場相比,在我們已經重新開放一段時間的某些國家/地區是否存在任何地域差異?
Nelson Juseuk Chai - CFO
Nelson Juseuk Chai - CFO
So first of all, in terms of your question on the drivers part, that is an annual number. And so there may be some quarter-to-quarter fluctuations because you're right, if Omicron -- if COVID has actually shown us anything, we expect the unexpected. And so we are highly confident we'll be able to manage that on an annual basis. There may be a quarter here or there.
因此,首先,就您對驅動程序部分的問題而言,這是一個年度數字。因此,可能會有一些季度波動,因為你是對的,如果 Omicron - 如果 COVID 實際上向我們展示了任何東西,我們預計會出現意外情況。因此,我們非常有信心能夠每年進行管理。這里或那裡可能有四分之一。
And in terms of your question about our ability to do it, yes, we optimize our marketplace every single day across our 10,000 markets. And as you can tell from our -- what we achieved in Q4, we've gotten pretty good at it, particularly as the Mobility business has come back post pandemic. And so we feel pretty good about where we sit today. And so again, we're highly confident if you look at the past a couple of quarters in terms of our ability to generate the 10% incremental margin on the Mobility side.
就您對我們的能力提出的問題而言,是的,我們每天都會在 10,000 個市場中優化我們的市場。正如您從我們的 - 我們在第四季度取得的成就中可以看出的那樣,我們在這方面做得非常好,特別是在大流行後移動業務已經恢復的情況下。所以我們對今天的位置感覺很好。同樣,如果您回顧過去幾個季度,我們非常有信心在移動性方面產生 10% 的增量利潤。
Dara Khosrowshahi - CEO & Director
Dara Khosrowshahi - CEO & Director
And then I'd say on the MAPC side, we pretty much saw strength across the board. I mean if there are any call-outs, U.S. mobility MAPCs on a year-on-year basis because the U.S. had closed down on a comparable basis more than other geos was super strong. And even on a quarter-on-quarter basis, audience in Q4 for our Mobility business grew versus Q3. But it's been actually remarkably consistent. And the growth that you see in both Mobility and Delivery has been global. There are lots of ups and downs.
然後我想說在 MAPC 方面,我們幾乎看到了全面的實力。我的意思是,如果有任何呼籲,美國的流動性 MAPC 會按年計算,因為美國在可比基礎上關閉的次數比其他地區的超級強。即使在季度環比的基礎上,我們移動業務的第四季度的受眾也比第三季度有所增長。但它實際上非常一致。您在移動性和交付方面看到的增長是全球性的。有很多起起落落。
But the really great thing that we're seeing now is that the diversification within our portfolio of Mobility and Delivery and then the geographic diversification allows us when something is weak, we can lean in to help things out. When one geo is particularly strong, we can take some of that strength and reinvest it in other areas. The diversification of our portfolio is really coming into play. And we kind of saw it in January. I mean no one wants to go through another COVID wave or the Omicron wave. The business was pretty darn resilient in January, which is why in Q1, you can see our guidance is stronger than Q4. That speaks to the portfolio approach really coming to the fore.
但我們現在看到的真正偉大的事情是,我們的移動性和交付組合內的多元化以及地理多元化使我們能夠在某些事情薄弱時,我們可以依靠幫助解決問題。當一個地區特別強大時,我們可以利用其中的一些優勢並將其重新投資於其他領域。我們投資組合的多元化正在真正發揮作用。我們在一月份看到了它。我的意思是沒有人願意經歷另一波 COVID 浪潮或 Omicron 浪潮。 1 月份的業務非常有彈性,這就是為什麼在第一季度,你可以看到我們的指導比第四季度要強。這說明投資組合方法真正脫穎而出。
Balaji Krishnamurthy - Head of IR
Balaji Krishnamurthy - Head of IR
Deepak, did we answer all of your questions?
迪帕克,我們回答了你所有的問題嗎?
Deepak Mathivanan - Research Analyst
Deepak Mathivanan - Research Analyst
Yes. I know that was a lot.
是的。我知道那很多。
Operator
Operator
Your next question comes from James Lee with the Mizuho Group.
您的下一個問題來自瑞穗集團的 James Lee。
James Lee - MD of Americas Research & Senior Internet Sector Analyst
James Lee - MD of Americas Research & Senior Internet Sector Analyst
I just want to get some regulatory update here. I think in the U.K., I think your license is up for renewal this quarter. And maybe how should we think about financial implications on the reclassification to worker class and also moving to merchant model? And also in the U.S., any update from the California appeal and the development in key states like New York and Massachusetts?
我只想在這裡獲得一些監管更新。我認為在英國,我認為您的許可證在本季度可以更新。也許我們應該如何考慮重新分類為工人階級以及轉向商業模式的財務影響?同樣在美國,加州上訴的任何更新以及紐約和馬薩諸塞州等主要州的發展情況?
Dara Khosrowshahi - CEO & Director
Dara Khosrowshahi - CEO & Director
Yes, absolutely. I think on the U.K. license, we're in constructive dialogue with TfL. I'd say our relationship with the city of London is better than it's ever been. About 10% of our kilometers now in London are EV or clean, and we're looking to drive that up very actively in partnership with the city. So that relationship has really changed, and we're very hopeful that we get the license renewal, but we never take anything for granted. So we'll see, although we're pretty confident of our position.
是的,一點沒錯。我認為在英國許可證方面,我們正在與 TfL 進行建設性對話。我想說我們與倫敦市的關係比以往任何時候都好。現在,我們在倫敦大約 10% 的公里數是電動汽車或清潔的,我們希望與這座城市合作,非常積極地推動這一點。所以這種關係真的發生了變化,我們非常希望我們能獲得許可證更新,但我們從不認為任何事情都是理所當然的。所以我們會看到,儘管我們對自己的立場非常有信心。
The worker reclassification that we underwent in the U.K. was the right thing to do. There isn't a level playing field yet. We believe there should be a level playing field. We're paying for it financially now because our earners in the U.K. are workers, are getting lots of benefits that our competition essentially doesn't have to pay. But sometimes the right thing to do is expensive. And in this case, in the U.K., it's expensive. But we think with time, there will be a level playing field. There's no question about it. The only question is when it happens.
我們在英國進行的工人重新分類是正確的做法。還沒有一個公平的競爭環境。我們認為應該有一個公平的競爭環境。我們現在在經濟上為此付出代價,因為我們在英國的收入者是工人,正在獲得我們的競爭對手基本上不需要支付的許多好處。但有時正確的做法是昂貴的。在這種情況下,在英國,它很昂貴。但我們認為隨著時間的推移,將會有一個公平的競爭環境。毫無疑問。唯一的問題是它何時發生。
And I think like long term -- short term, being a good citizen, being a good company on the ground sometimes hurts financially. The long term, you get gains. We want to be in the U.K. We want to be in London for the next 10, 15, 20 years. And that means doing the right thing, and I think we are in the U.K. It will resolve itself. I can't tell you when.
而且我認為就像長期 - 短期,成為一個好公民,成為一個好公司有時會在財務上受到傷害。從長遠來看,你會有所收穫。我們想在英國。我們想在接下來的 10 年、15 年、20 年裡留在倫敦。這意味著做正確的事,我認為我們在英國。它會自行解決。我不能告訴你什麼時候。
I think as far as California goes, it's running through the process. We're very confident of our position. But I don't really have anything to share one way or the other.
我認為就加利福尼亞而言,它正在貫穿整個過程。我們對自己的立場非常有信心。但我真的沒有任何東西可以分享。
Operator
Operator
Your next question comes from the line of Jason Helfstein with Oppenheimer.
你的下一個問題來自 Jason Helfstein 和 Oppenheimer。
Jason Stuart Helfstein - MD & Senior Internet Analyst
Jason Stuart Helfstein - MD & Senior Internet Analyst
I'm just going to ask one. Just when you think about Uber Pass and specifically restaurants and delivery, are there any deficits in capabilities or coverage in major markets versus your largest competitors and kind of how you think about that?
我只想問一個。就在您考慮 Uber Pass,特別是餐廳和送貨服務時,與您最大的競爭對手相比,主要市場的能力或覆蓋範圍是否存在任何不足,您對此有何看法?
Dara Khosrowshahi - CEO & Director
Dara Khosrowshahi - CEO & Director
Yes, Jason. It's Uber One now. We still have to rebrand it. As far as coverage goes, our selection in urban markets, I think, is excellent and is on par or better than our competition, although it can always get better. I think it's a selection in suburbs. Our CP in suburbs still trails DoorDash. We are seeing our selection improve. We have reorganized our sales team to be much more local, to be on the ground to understand what that neighborhood restaurant is.
是的,傑森。現在是優步一號。我們仍然需要重新命名它。就覆蓋範圍而言,我認為我們在城市市場的選擇非常出色,與我們的競爭對手相當或更好,儘管它總是可以變得更好。我認為這是郊區的選擇。我們在郊區的 CP 仍然落後於 DoorDash。我們看到我們的選擇有所改善。我們已經重組了我們的銷售團隊,使其更加本地化,深入了解附近的餐廳是什麼。
And I'd say -- there may be a few exceptions, but the vast majority of restaurant partners want to work with more than one partner. And we are the second player but by far the biggest second player in the U.S. And we have a great sales team now, and our systems are much, much better in partnering up with those restaurants. So in the suburbs today, we do have certain gaps, and we're going to work really, really hard to make up for those gaps certainly by the end of 2022.
我想說——可能有一些例外,但絕大多數餐廳合作夥伴都希望與不止一個合作夥伴合作。我們是第二大玩家,但迄今為止是美國最大的第二大玩家。我們現在擁有一支出色的銷售團隊,我們的系統在與這些餐廳合作方面要好得多。所以在今天的郊區,我們確實存在一定的差距,我們將非常非常努力地在 2022 年底之前彌補這些差距。
Operator
Operator
Your next question comes from the line of Edward Yruma with KeyBanc Capital Markets.
您的下一個問題來自 KeyBanc Capital Markets 的 Edward Yruma。
Edward James Yruma - MD & Senior Research Analyst
Edward James Yruma - MD & Senior Research Analyst
It seems like a lot of private capital is pushing into ultrafast delivery. I know you're even partnering with Gopuff private in the space. I guess kind of how do you view the space right now? And what do you partnership versus what do you do on your own?
似乎很多私人資本正在推動超快交付。我知道你甚至在這個領域與 Gopuff private 合作。我想你現在如何看待這個空間?與您自己合作做什麼?
Nelson Juseuk Chai - CFO
Nelson Juseuk Chai - CFO
Well, so as you know, we are right now primarily doing partnerships. And so we have a wonderful partnership with Carrefour in France as well. And we have a partnership with Gopuff here in the U.S. We are doing a little bit of testing on our own mainly because we do -- there's a couple of places in Taiwan and Japan where we're doing some testing. We want to understand the whole value prop and the different parts of the value chain.
好吧,如您所知,我們現在主要是建立合作夥伴關係。因此,我們也與法國的家樂福建立了良好的合作夥伴關係。我們在美國與 Gopuff 建立了合作夥伴關係。我們自己進行了一些測試,主要是因為我們這樣做了——我們在台灣和日本的幾個地方進行了一些測試。我們想了解整個價值支柱和價值鏈的不同部分。
I guess our view is that we definitely want to care about making sure that we have a good product delivered to our consumers. There is a lot of private capital at it. I do think over time that there will be some normalization between the private and the public markets, if you will. And so what I would say is you'll hear tomorrow, we are going after this new vertical space. We're doing it with primarily a partnership approach. And I think we are leveraging both our capabilities and trying to maintain more of an asset-light model, which I think will be beneficial.
我想我們的觀點是,我們肯定要關心確保我們有一個好的產品交付給我們的消費者。有很多私人資本參與其中。我確實認為,隨著時間的推移,私人市場和公共市場之間會出現一些正常化,如果你願意的話。所以我想說的是你明天會聽到,我們正在追求這個新的垂直空間。我們主要通過合作夥伴關係來做這件事。而且我認為我們正在利用我們的能力並試圖保持更多的輕資產模式,我認為這將是有益的。
Dara Khosrowshahi - CEO & Director
Dara Khosrowshahi - CEO & Director
I think the only thing to add to Nelson's commentary is that we have an enormous global footprint, which is unique amongst a lot of other players out there. We're in 32 delivery markets. And every single market has different regulatory issues. Every single city is different. And so the partner approach allows us to essentially penetrate into the many, many geographies and the many, many cities in which we operate faster in a capital-light way.
我認為唯一要補充尼爾森評論的是我們擁有巨大的全球足跡,這在許多其他參與者中是獨一無二的。我們在 32 個交付市場。每個市場都有不同的監管問題。每個城市都是不同的。因此,合作夥伴的方式使我們能夠從根本上滲透到我們以輕資本方式更快地運營的許許多多地區和許許多多城市。
Our goal is with quick commerce -- to get quick commerce to as many eaters in the world as possible, as quickly as possible. We think we can move faster because we have partners who are on the ground. They understand cities -- the cities in which they operate in. They have a long history. And ultimately, we think the partner-led approach is a better approach. We'll see if that turns out to be true or not, but we're pretty confident in the early signal that we're seeing.
我們的目標是快速商務——讓世界上盡可能多的食客盡快得到快速商務。我們認為我們可以更快地行動,因為我們有實地的合作夥伴。他們了解城市——他們經營所在的城市。他們有著悠久的歷史。最終,我們認為以合作夥伴為主導的方法是一種更好的方法。我們將看看這是否屬實,但我們對我們看到的早期信號非常有信心。
Balaji Krishnamurthy - Head of IR
Balaji Krishnamurthy - Head of IR
Operator, we'll take one last question.
接線員,我們會回答最後一個問題。
Operator
Operator
Your final question comes from the line of John Blackledge with Cowen.
您的最後一個問題來自 John Blackledge 與 Cowen 的對話。
John Ryan Blackledge - Head of Internet Research, MD & Senior Research Analyst
John Ryan Blackledge - Head of Internet Research, MD & Senior Research Analyst
Two questions. First, what were other delivery verticals outside of Eats as a percent of Delivery gross bookings in the fourth quarter? And then second, with the Car Next Door acquisition, could you discuss kind of the rationale? And do you expect to enter additional markets with that type of offering?
兩個問題。首先,在第四季度,Eats 以外的其他垂直配送佔配送總預訂量的百分比是多少?其次,對於 Car Next Door 的收購,您能談談其中的原因嗎?您是否希望通過這種類型的產品進入其他市場?
Dara Khosrowshahi - CEO & Director
Dara Khosrowshahi - CEO & Director
Yes, absolutely. I'll start the second one first. As far as Car Next Door goes, you'll hear more about this in Investor Day tomorrow. But we're essentially -- we want Uber rides to be a complete mobility solution. And that means essentially being there for you on any occasion where you need a car to ultimately replace first your second car but ultimately car ownership. And Car Next Door allows us to have relevancy for those situations where you need a car for -- over a weekend, et cetera. We have partnerships with Avis, Hertz, et cetera. Part of the magic of Uber is P2P, is managing a supply and demand kind of 2-sided marketplace.
是的,一點沒錯。我先開始第二個。就隔壁汽車而言,您將在明天的投資者日聽到更多關於此的信息。但我們本質上是——我們希望優步打車成為一個完整的移動解決方案。這意味著在您需要一輛車最終取代您的第二輛汽車但最終更換汽車所有權的任何情況下,基本上都會為您服務。 Car Next Door 讓我們能夠為您需要一輛車的情況提供相關性——在一個週末等。我們與 Avis、Hertz 等建立了合作夥伴關係。優步的部分魔力在於 P2P,它管理著一種供需雙方的市場。
Car Next Door is a 2-sided rental marketplace, great business in Australia. Australia is a spectacular market for us in both Mobility and Delivery. So it's coming into a market with a lot of strength. And yes, our ambition is absolutely to go global. And we have audience here, like this is the playbook that we run with New Verticals. We're going global with Eats. We went global -- and I think with peer-to-peer car rentals, yes, we'll go global. We'll make sure we do it in the right way.
Car Next Door 是一個雙面租賃市場,在澳大利亞非常受歡迎。澳大利亞在移動性和交付方面對我們來說都是一個壯觀的市場。因此,它正在進入一個具有很大實力的市場。是的,我們的野心絕對是走向全球。我們在這裡有觀眾,就像這是我們與 New Verticals 一起運行的劇本。我們將通過 Eats 走向全球。我們走向了全球——我認為通過點對點汽車租賃,是的,我們將走向全球。我們將確保以正確的方式進行。
Nelson, do you want to talk about New Verticals as a percentage of GBs?
Nelson,您想談談新垂直市場佔 GB 的百分比嗎?
Nelson Juseuk Chai - CFO
Nelson Juseuk Chai - CFO
Yes. So right, in the fourth quarter, New Verticals approached about a $4 billion run rate. And so if you think about it, in Q4, we were at $54 billion run rate for the total Delivery marketplace. So it's pretty simple math.
是的。沒錯,在第四季度,New Verticals 的運行率接近 40 億美元。因此,如果您考慮一下,在第四季度,整個交付市場的運行速度為 540 億美元。所以這是非常簡單的數學。
Dara Khosrowshahi - CEO & Director
Dara Khosrowshahi - CEO & Director
And I think one of the cool other metrics other than GBs that we measure is what percentage of our monthly active platform customers are ordering from New Verticals. So in Q4, about 12% of our monthly actives had a new vertical order in kind of our focus markets because we're not yet deep in every single market out there. That's another metric that we closely track. As that MAPC number goes up, gross bookings will go up as well.
我認為我們衡量的除 GB 之外的其他很酷的指標之一是我們每月活躍的平台客戶中有多少百分比是從 New Verticals 訂購的。因此,在第四季度,我們大約 12% 的月度活躍用戶在我們的重點市場中獲得了新的垂直訂單,因為我們還沒有深入到每個市場。這是我們密切跟踪的另一個指標。隨著 MAPC 數量的增加,總預訂量也會增加。
All right. That's it, everyone. Thank you very much for joining us on the call and just shout out to the Uber team. It's been a long year. I think the team really turned around in the second half. We delivered a great Q4, and I'm more confident than ever in our prospects for 2022 because of the work that the team has done. So thanks, everyone.
好的。就是這樣,大家。非常感謝您加入我們的電話會議,並向優步團隊大喊大叫。這是漫長的一年。我認為球隊在下半場真的扭轉了局面。我們交付了一個出色的第四季度,由於團隊所做的工作,我對 2022 年的前景比以往任何時候都更有信心。所以謝謝大家。
Operator
Operator
Ladies and gentlemen, thank you for your participation. This concludes today's conference call. You may now disconnect.
女士們,先生們,感謝你們的參與。今天的電話會議到此結束。您現在可以斷開連接。