UBERNYSEServices-Business Services, NECUS GAAP · USD

Uber Technologies, Inc

Uber Technologies, Inc. operates a multi-sided technology platform that connects riders with drivers for transportation, consumers with merchants and couriers for delivery, and shippers with carriers for freight logistics. The company’s platform is available across more than 70 countries, with operations centered in the United States and Canada, Latin America, Europe, the Middle East, Africa, and Asia Pacific.

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Revenue52.0bn USD
+18.3 %y/y
Operating profit (EBIT)5,565m USD
+98.8 %y/y
EBIT margin10.7%
+4.3 ppy/y
Net income10.1bn USD
+2.0 %y/y
Free cash flow9,763m USD
+41.6 %y/y

Fiscal year 2025 · change from previous year

Development 2020–2025

-200204060bn USD2020: 11.1 bn USD2020: EBIT -4.9 bn USD20202021: 17.5 bn USD2021: EBIT -3.8 bn USD20212022: 31.9 bn USD2022: EBIT -1.8 bn USD20222023: 37.3 bn USD2023: EBIT 1.1 bn USD20232024: 44.0 bn USD2024: EBIT 2.8 bn USD20242025: 52.0 bn USD2025: EBIT 5.6 bn USD202552.05.6
RevenueOperating profit (EBIT)
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Business

Share of revenue
Mobility55 %

Ridesharing and other transportation services connecting riders with independent drivers and transit options.

Delivery35 %

Food, grocery, retail, alcohol, convenience, and white-label delivery services.

Freight10 %

Digital freight brokerage, shipment booking, and transportation management services.

Customers

Uber serves consumers who use the platform for transportation, meals, groceries, and other local commerce, as well as shippers that need freight booking and logistics services. On the supply side, independent drivers, couriers, and carriers use the platform to access demand and manage utilization. Restaurants, grocers, retailers, and other merchants use Uber to reach customers and fulfill orders without building their own delivery networks.

Riders

Consumers buying rides, rentals, micromobility, taxis, and transit access for point-to-point travel.

Eaters and local commerce consumers

Consumers ordering meals, groceries, convenience items, alcohol, and retail goods for delivery or pickup.

Merchants

Restaurants, grocers, and retailers that use Uber to generate orders and fulfill delivery demand.

Shippers

Businesses that book freight shipments and use logistics tools to move goods.

Drivers, couriers, and carriers

Independent supply partners who provide rides, deliveries, and freight capacity on the platform.

Strategy

Uber’s strategy centers on using one network across Mobility, Delivery, and Freight to increase user engagement, frequency, and cross-platform adoption. The company also emphasizes membership through Uber One, broader merchant and advertiser monetization, and continued investment in new platform offerings that deepen the ecosystem. These priorities are designed to improve liquidity on the marketplace, expand use cases, and make the platform more valuable to riders, merchants, drivers, shippers, and carriers.

Cross-platform engagementShort term

Users who use multiple offerings generate more activity and deepen network effects.

Membership expansionMedium term

A single subscription layer can increase retention and frequency across products.

Merchant and advertiser monetizationMedium term

Adds revenue streams beyond transaction facilitation and improves platform economics.

Freight and logistics capabilityMedium term

Extends the platform into shipping and transportation management markets.

Geography

Q1/2026

Uber’s platform operates in over 70 countries, with principal exposure to the United States and Canada, Latin America, Europe, the Middle East, Africa, and Asia Pacific. Geography matters because local regulation, driver supply, urban density, and consumer adoption shape usage patterns and the economics of each market. The company also offers Uber One in more than 30 countries, reinforcing cross-border product consistency while still relying on local market execution.

Europe, Middle East and Africa56 %
Asia Pacific28 %
Latin America16 %

Share of the revenue the company reports by geography.

Risks

Uber faces regulatory, labor-classification, and competitive risks because its model depends on independent drivers, couriers, and carriers operating in highly regulated local markets. The company is also exposed to cybersecurity, privacy, AI, and third-party platform risks, while demand can be affected by macro conditions, weather, public health events, and urban disruption. Because the business relies on dense city networks and marketplace liquidity, changes in pricing, incentives, or local rules can quickly affect usage and economics.

Sorted by severity
LowMediumHighLowMediumHighImpact →Likelihood →Independent contractor classification risk1Cybersecurity and privacy risk4Competitive pricing pressure2Regulatory and legal risk3Macroeconomic and city-concentration risk5Third-party platform dependency6
Impact is the risk’s severity and likelihood how probable it is over the next few years, both assessed from the company’s reports. Numbers match the list.
  1. Independent contractor classification riskImpact: CriticalLikelihood: Medium

    The platform depends on drivers and couriers being treated as independent providers rather than employees.

    Exposure: Mobility and Delivery

  2. Competitive pricing pressureImpact: HighLikelihood: High

    Low switching costs and well-capitalized rivals can force lower fares, fees, or higher incentives.

    ExposureMobilityDeliveryFreight
  3. Regulatory and legal riskImpact: HighLikelihood: High

    Local transport, labor, payments, and delivery rules can restrict operations or require model changes.

    Exposure: Multi-jurisdiction operations

  4. Cybersecurity and privacy riskImpact: HighLikelihood: Medium

    The platform handles user, driver, merchant, and shipment data across a large digital network.

    Exposure: Platform data and accounts

  5. Macroeconomic and city-concentration riskImpact: MediumLikelihood: Medium

    Demand is concentrated in large metropolitan areas and can weaken with travel, weather, or public health disruptions.

    Exposure: Urban markets

  6. Third-party platform dependencyImpact: MediumLikelihood: Medium

    Distribution and software access depend on external marketplaces and providers.

    Exposure: Mobile app distribution and software stack

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Accounting

Judgemental items
Revenue recognition and principal-agent assessment

Uber records most transactions net, but some markets are gross, affecting revenue comparability and margins.

Impact: Reported revenue can differ materially from gross bookings

Driver and merchant incentives

Incentives are deducted from revenue in agent arrangements and influence period-to-period comparability.

Impact: Can reduce reported revenue and affect segment trends

Stock-based compensation

A significant recurring non-cash expense that affects operating profit and adjusted metrics.

Impact: Impacts GAAP earnings and dilution analysis

Legal, tax, and regulatory reserves

Reserve changes and settlements can create volatile charges tied to litigation and regulation.

Impact: Can materially affect quarterly operating results

Goodwill and asset impairment

Acquisitions and platform investments may require impairment testing if performance changes.

Impact: Can create non-cash charges and signal weaker asset value

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Last updated: 24/09/2026

Uber Technologies, Inc (UBER) Revenue, Earnings & Financials 2025 – Clarifo