KARL BAKER/Associated Press Uber’s latest financial report released Tuesday showed that the ride-hailing service has $2.4 million in debt, with no cash flow and $6.9 billion in assets that could be wiped out if Uber were to shut down.
The company, which launched in 2013, reported $1.5 billion in revenue for the third quarter and $2 billion in the fourth quarter of this year.
At the time, Uber had an operating profit of $1,878 million, with net income of $0.2 billion.
CEO Travis Kalanick said the company was still in good financial shape, but that it had no cash and had less than $4 billion to go.
In a press release, the company said it expects to continue to add drivers and grow its workforce through acquisitions.
“Uber has made significant investments to build and improve its infrastructure and network,” the company wrote.
“We expect to continue this momentum in the years to come, and to deliver our first profitable year since 2013.”
Uber said it will use the money it collects from fares to cover its operating expenses and will pay itself a dividend of 2 cents per share.
The company has $4.9 million in cash on hand.
On the revenue side, Uber has generated $639 million in the first nine months of the year, with a net income that was $14.3 million.