Since what was one of the biggest tech IPOs, ride-sharing company Uber continues to grow, but they are losing money at an incredible rate. Q1 2018 aside (a one-time gain of $2.9 billion from selling/merging its Southeast Asia and Russian businesses), every quarter has seen net losses posted, and the latest figures underline this trend to a staggering degree.

Despite seeing growth, albeit below expectations, in gross bookings and net revenue, net losses in Q2 amounted to $5.2 billion for the three months ending June 30. Chief among the reasons for the big red figure on the books is “$3.9 billion of stock-based compensation expenses…in connection with our initial public offering”.

source statista