Uber reveals Postmates’ narrowing losses, rising revenue ahead of merger

(Seeking Alpha) – In a new SEC filing, Uber (NYSE:UBER) reveals that Postmates (POSTM) brought in $160.8M in revenue (+125% Y/Y) in Q2 with a $32M net loss (-72%).

For H1 2020, Postmates had $267.6M in revenue (+104%) and a $105M loss (-56%).

In July, Uber confirmed plans to acquire Postmates for $2.65B in an all-stock transaction. If the deal makes it over the regulatory hurdles, Uber expects the transaction to generate about $200M in synergies within two years.

Uber provides a table showing Postmates management’s revenue and EBITDA estimates for FY21-23, compared to consensus estimates for Uber’s metrics: