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Uber Technologies
Uber Technologies (UBER) investor relations material
Uber Technologies Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary4 Feb, 2026
Executive summary
Q4 2025 saw accelerated trips to a 15 billion annual run rate, over 200 million monthly active users, and significant expansion in autonomous vehicle (AV) operations, driving gross bookings up 22% year-over-year and marking the fifth consecutive year of 20%+ annual gross bookings growth.
Achieved record quarterly GAAP income from operations of $1.8B and adjusted EBITDA of $2.5B, up 35% year-over-year, with strong operational leverage and profitability.
Leadership transition announced: CFO Prashanth Mahendra-Rajah stepping down, with Balaji Krishnamurthy named as incoming CFO.
Financial highlights
Q4 2025 revenue reached $14.4B, up 20% year-over-year; full-year revenue was $52.0B.
Gross bookings for Q4 2025 were $54.1B, up 22% year-over-year; full-year gross bookings totaled $193.5B.
Adjusted EBITDA for Q4 2025 was $2.5B, up 35% year-over-year; full-year adjusted EBITDA was $8.7B.
Free cash flow for the year was $9.8B, up 42% year-over-year, with net cash from operating activities at $10.1B.
Non-GAAP EPS for Q4 2025 was $0.71, a 27% increase year-over-year.
Outlook and guidance
Entering 2026 with strong momentum, a profitable platform, and a clear framework for durable growth, with Q1 2026 gross bookings expected between $52.0B and $53.5B, and non-GAAP EPS projected at $0.65 to $0.72.
Plans to become the largest facilitator of AV trips globally by 2029, with expansion into new cities and partnerships with leading hardware and self-driving technology providers.
Expectation to be in 15 cities with AV deployments by year-end, with further expansion planned.
Ongoing commitment to return approximately 50% of free cash flow to shareholders, while maintaining aggressive share repurchases.
Freight Q4 Adjusted EBITDA decline drivers
Explain Q4 equity investment revaluation impact
AV future investment strategy
Detail AV fleet financing strategy
What factors drive US mobility acceleration?
Update on delivery advertising long-term potential
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Next Uber Technologies earnings date
Q1 20266 May, 2026
Uber Technologies
Next Uber Technologies earnings date
Q1 20266 May, 2026
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Frequently asked questions
Revolutionizing Modern Transportation
Uber has a fascinating history and has revolutionized the way we think about transportation. The company was founded in 2009 by Travis Kalanick and Garrett Camp, initially as a luxury car service. However, the idea quickly evolved, and the company launched its ride-hailing platform in San Francisco in 2010. As of Q1 2023, the company has a market cap of almost $70 billion and operates in over 10,000 cities worldwide. In addition to its core ride-hailing and food delivery services, Uber has also made headlines for its innovative projects, such as its self-driving car program and its flying taxi service, Uber Air.
Further reading: Dara Khosrowshahi: The Visionary CEO Transforming Uber
Match-making within transport
Uber generates revenue primarily through its ride-hailing services, where drivers are paid a portion of the fare, and Uber takes a commission. The company's technology platform matches riders with nearby drivers, and payments are processed through the app. The ride-hailing segment is the main revenue source for Uber, and the company is continuously looking for ways to expand its user base and services.
Uber eats – delivering food to your doorstep
Uber Eats is the company's food delivery service that allows users to order food from local restaurants and have it delivered to their doorstep. The service has become increasingly popular, especially during the COVID-19 pandemic, when people were relying on food delivery more than ever before. Uber takes a commission from the restaurant for each order, making it another important revenue stream for the company.
Diversifying its revenue streams
Uber is continuously expanding its services to diversify its revenue streams. In 2017, the company launched Uber Freight, a platform connecting shippers with truck drivers. Another launch is Uber Health, a service providing transportation for patients to and from medical appointments. These services are still in their early stages, but they show Uber's commitment to expanding beyond its core ride-hailing business.
Uber’s main competitors
Uber operates in a highly competitive market, with other public companies such as Lyft and Grab also offering ride-hailing services. Lyft is Uber's main competitor in the United States, while Grab operates in Southeast Asia. These companies also offer food delivery and other services to compete with Uber's diversification efforts.
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