In a recent interview, Waymo strongly hinted they now have positive unit economics in markets like SF.

From https://www.forbes.com/sites/alanohnsman/2025/09/03/waymo-co...:

> “Each car, the amount of revenue it's making would be shocking to most people,” Panigrahi said, without elaborating. “Because it just continuously keeps delivering ride after ride. On a per asset basis, it’s doing really well. That’s making progress in terms of unit economics very, very positive.”

So much so that in busy markets like San Francisco, Waymo could soon move into the black. “Not making specific statements about if we’re positive or not, but what I can tell you is that yes, key markets are showing us that we are,” Panigrahi said.

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eatonphil 3 days ago | parent [-]

What is the reason or benefit of them being so secretive about this?

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actinium226 3 days ago | parent | next [-]

Usually, though not always, a company will tell you if they're making money on something, and if they're not they beat around the bush like this. Notice how, for example, Gywnne Shotwell never beats around the bush like this when talking about Starlink.

Notice the weird language:

> That’s making progress in terms of unit economics very, very positive.

He says the "progress" is "very, very positive," but if you're not paying close enough attention you might come away thinking that the unit economics are what's very very positive.

All that said, what he's saying makes sense. They're able to charge more for their rides since they offer the convenience of not having to deal with a driver, and they're not paying the driver, who is the most expensive part, so yea, I'm bullish on them.

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weatherlite 3 days ago | parent | prev | next [-]

They don't gain much from disclosing anything imo , their competition reads every word they say. I'm not sure it matters that much but as a habit I don't see why they should disclose exact numbers.

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PhantomHour 3 days ago | parent [-]

Waymo doesn't gain anything. Google i.e. Alphabet Inc, does.

Especially these days. Every scrap of news that could pump the stock price is publicized aggressively.

And this makes the absence of such actions suspicious.

	▲	orwin 3 days ago \| parent [-]
		Not really: this past few years, listed companies tend to be _very_ pessimistic on their quarterly projection, and then reveal that either: it wasn't that bad, and nothing change, or that is was great, and their valuation shoots up. Weirdly the market doesn't react over those pessimistic projections, so it seems it's just a safe play for CEOs. They started doing that in Europe as well.

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boh 3 days ago | parent | prev | next [-]

Because no highly indebted company is going to "strongly hint" that they aren't just hemorrhaging cash like everyone assumes--they will absolutely let you know. "Hints" are just best effort accounting aesthetics to seem like the dream is just around the corner.

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maxerickson 3 days ago | parent | prev [-]

They have to follow SEC rules about disclosing it.