This article sparked my post on Adjusted EBITDA. Uber “reported its first adjusted EBITDA profit of $8 million for the quarter.” Its actual loss? $2.4 billion – 300x bigger, and in the wrong direction. And they’re also giving adjusted EBITDA guidance…. In Q2 of 2021 their net income number was much better, $1.1B, but that…

If you’re an investor, adjusted EBITDA is bad for you because the company is trying to say “don’t count these things when you decide what we’re worth.” Usually, those things are actual cash expenses, and because we all know that the discounted sum of all future cash flows IS the value of the company, when…