The massive filing shows Uber has been generating the robust revenue growth that entices investors, but also racked up almost $8 billion in losses over its 10 years in existence, which mirrors the same trend challenging Lyft, Uber's main rival in the U.S.
The business operates in 65 countries and has finished 10 billion excursions worldwide.
The IPO has been a long time coming, and the company's filing with the SEC is expected to be heavily scrutinized in the days to come. Uber's operating loss was $3bn past year, while revenue slowed at $11.3bn, according to documents filed with the US Securities and Exchange Commission. In 2017, its net loss totalled US$4 billion.
The disclosure also highlighted how far Uber remains from turning a profit, with the company cautioning it expects operating expenses to "increase significantly in the foreseeable future" and it "may not achieve profitability".
Of course, Lyft said the same thing, and still managed to sell millions of shares in its public debut.
Uber had not disclosed the latest user numbers before, and the figure indicates the scale of the business. The long-awaited documents give potential investors a look inside the company's financial state before its highly anticipated IPO, which is expected later this month. "In India, for example, our Uber Eats offering competes with Swiggy and Zomato, each of which has substantial market-specific knowledge and established relationships with local restaurants, affording them significant product advantages".
Some drivers have sued the company, claiming they are misclassified as independent contractors.
In 2018, Uber set aside $1.1bn to meet penalties and settlements. These bonuses, which were previously reported, are intended for drivers to use to purchase stock in Uber at the IPO price, as companies legally can't provide stock to non-employees.
The company has pointed at risks linked to use of cash too.
The company has listed driver dissatisfaction as a likely reason for decline in the number of platform users. Riders also can engage in criminal activity, and Uber admits there's little it can do about it. "While we have had unparalleled growth at scale, we are just getting started". Excluding those gains, plus other items, Uber lost US$1.8 billion for the year.
Uber have fallen behind slightly in the race to create self-driving cars. Uber pulled hundreds of autonomous cars from the road in Arizona, California, and Pennsylvania, and has since overhauled its entire self-driving program. The company resumed testing self-driving vehicles in Pittsburgh in December.
In its filing, Uber warned of this competition it faces that front from rivals such as Tesla and Google's Waymo, who it said may introduce than Uber.
Uber's business includes other services; for example, Uber Eats, Uber Freight, and dockless e-bike and e-scooter rentals.
It also says that there are "a number of inquiries, investigations and requests for information" from agencies within the USA, such as the department of justice, as well as other countries.
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