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As a result of our increased sales, improved margins, and lower SG&A costs, we are pleased to report adjusted EBITDA of 3.5 million, compared to negative 2.9 million in the same prior-year period.
These include New Year's Day, Memorial Day, Independence Day, Labor Day, Thanksgiving, and Christmas. Businesses often close or grant paid time off for New Year's Eve, Christmas Eve, and the Day after Thanksgiving, but none of these are federal holidays. Other federal holidays are less widely observed by businesses.
Total rides grew 15% year over year and active riders grew 10% year over year, driven by improved retention and higher frequency. Gross bookings exceeded $4 billion, up 17% year over year.
Costco was the first company to grow from $0 in sales to $3 billion in sales in under six years. [15] For the fiscal year ending on August 31, 2012, the company's sales totaled $97.062 billion, with $1.709 billion net profit. [ 53 ]