Uber Technologies (UBER) investor relations material

Executive summary

• Gross bookings grew 21–25% year-over-year, revenue rose 10–14%, and non-GAAP operating income increased 42%, with strong Mobility and Delivery performance and platform innovation driving user growth and retention.

• Non-GAAP EPS increased 44% year-over-year to $0.72, while GAAP net income attributable to shareholders was $263 million, down from $1.8 billion in Q1 2025 due to $1.5 billion in unrealized equity losses.

• Monthly Active Platform Consumers grew 17% to 199 million, with trip frequency per consumer up 3% and total trips up 20% to 3.6 billion.

• Surpassed 50 million Uber One members, now accounting for over 50% of bookings, reflecting strong loyalty and cross-platform expansion.

• Continued innovation with new products, AI-driven features, and expanded travel services, including hotel bookings and AV partnerships.

Financial highlights

• Gross bookings reached $53.7–$54.1 billion (+21–25% YoY); revenue was $13.2 billion (+10–14% YoY); non-GAAP operating income was $1.88–$1.9 billion (+42% YoY); non-GAAP EPS was $0.72 (+44% YoY).

• Free cash flow for the quarter was $2.29–$2.3 billion, with unrestricted cash and equivalents at $5.56–$6.1 billion at quarter end.

• Repurchased $3.0–$3.01 billion in shares in Q1 2026; $16.2 billion remains authorized for buybacks.

• Mobility gross bookings grew 20–25% with record margins; Delivery gross bookings up 23–28%, led by grocery, retail, and advertising.

• Freight segment revenue grew 6% to $1.27–$1.3 billion, with operating loss narrowing to $(30) million.

Outlook and guidance

• Q2 2026 Gross Bookings expected between $56.25 billion and $57.75 billion, up 18–22% year-over-year on a constant currency basis.

• Adjusted EBITDA guidance for Q2 is $2.70–$2.80 billion; non-GAAP EPS projected at $0.78–$0.82.

• Expect to facilitate AV trips in up to 15 cities globally by end of 2026, with continued investments in new products and international expansion.

• Guidance reflects continued momentum, disciplined capital allocation, and a focus on durable, profitable growth, but highlights risks from competition, regulatory changes, and macroeconomic factors.

• Anticipates regulatory and legal challenges, especially regarding driver classification and international tax matters.