Uber will reportedly file for IPO next month

Uber">Uber, on the heels of Lyft’s official documentation for its initial public offering, is expected to file its S-1 in April, Uber-IPO-exclusive/exclusive-Uber-plans-to-kick-off-IPO-in-april-sources-idUSKCN1QV2QU">Reuters reports. Uber, in December, Uber-files-confidentially-for-IPO/">filed confidential paperwork for its IPO.

Uber will also reportedly kick off its IPO roadshow next month. As part of its offering, Uber-and-lyft-are-reportedly-giving-drivers-cash-to-buy-shares-in-their-respective-IPOs/">Uber is also expected to reward some of its more active, or long-time drivers with a cash award.

About a month ago, Uber reported $3B in Q4 2018 revenues with net losses of $865 million. That figure, however, was aided by a tax benefit that saved the company from reporting a $1.2 billion net loss in the period. On an adjusted, pro-forma basis, Uber’s net loss in the final quarter of 2018 was a slimmer $768 million.

The figures were an improvement of sorts. The firm reported a pro-forma net loss of $939 million in the preceding, Uber-q3-2018-continues-to-lose-money-as-it-works-to-scale-scooters-bikes-and-other-newer-businesses/">third quarter of 2018, but also reported a smaller pre-tax net loss of $971 million. Regardless, Uber’s stiff losses continued in the quarter. On an annual basis, Uber’s revenues came in at $3 billion while losses came in at $1.8 billion for 2018, compared to $2.2 billion in 2017.

Competitor Lyft filed its S-1 earlier this month, reporting $2.2 billion in revenue and nearly $1 billion in losses in 2018. In its S-1, Lyft outlined its program to give a maximum cash bonus of $10,000 to drivers “in good standing” who have completed at least 20,000 rides as of February 25, 2019.

Uber declined to comment on this story.