Uber Announces Results for Second Quarter 2026

Transcript

1. #1prepared remarks

   EX-99.1 2 uberq226earningspressrelea.htm EXHIBIT 99.1

2. #2prepared remarks

   Exhibit 99.1 Uber Announces Results for Second Quarter 2026

3. #3prepared remarks

   Gross Bookings grew 22% year-over-year on a constant currency basis; Trips grew 18% year-over-year GAAP Income from operations of $1.9 billion; Non-GAAP Operating Income of $2.1 billion, up 40% year-over-year GAAP Diluted EPS of $1.17; Non-GAAP EPS of $0.81, up 35% year-over-year

4. #4prepared remarks

   SAN FRANCISCO – August 5, 2026 – Uber Technologies, Inc. (NYSE: UBER) today announced financial results for the quarter ended June 30, 2026.

5. #5Dara Khosrowshahi · CEO

   Uber’s platform advantage continues to compound: record consumers and engagement, and profitable growth across our business,

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   ) growth of 16% YoY and monthly Trips per MAPC growth of 2% YoY. • Gross Bookings grew 24% YoY to $58.0 billion, and 22% on a constant currency basis. • Revenue grew 12% YoY to $14.2 billion, or 11% on a constant currency basis. Business model changes negatively impacted total revenue YoY growth by 8 percentage points on a reported and constant currency basis. • GAAP Income from operations grew 30% YoY to $1.9 billion. • GAAP Net income attributable to Uber Technologies, Inc. was $2.4 billion, which includes a $1.6 billion net benefit (pre-tax) from revaluations of Uber’s equity investments. GAAP Diluted earnings per share (“EPS

7. #7prepared remarks

   Outlook for Q3 2026 For Q3 2026, we anticipate: • Gross Bookings of $58.25 billion to $60.25 billion, representing growth of 18% to 22% YoY on a constant-currency basis. ◦ Our outlook assumes a roughly 1 percentage-point currency headwind to total reported YoY growth. • Non-GAAP EPS of $0.84 to $0.88, representing growth of 28% to 35% YoY. ◦ Our outlook translates to Adjusted EBITDA of $2.86 billion to $2.96 billion.

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   Financial and Operational Highlights for Second Quarter 2026 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | | | | (In millions, except percentages and per share amounts) | | 2025 | | 2026 | | % Change | | % Change (Constant Currency (1) ) | | | | | | | | | | Monthly Active Platform Consumers (“MAPCs”) | | 180 | | | 208 | | | 16 | % | | | Trips | | 3,268 | | | 3,867 | | | 18 | % | | | Gross Bookings | | $ | 46,756 | | | $ | 58,022 | | | 24 | % | | 22 | % | Revenue | | $ | 12,651 | | | $ | 14,191 | | | 12 | % | | 11 | % | GAAP Income from operations | | $ | 1,450 | | | $ | 1,890 | | | 30 | % | | | GAAP Net income attributable to Uber Technologies, Inc. (2) | | $ | 1,355 | | | $ | 2,394 | | | 77 | % | | | GAAP Diluted EPS | | $ | 0.63 | | | $ | 1.17 | | | 85 | % | | | Adjusted EBITDA (1) | | $ | 2,119 | | | $ | 2,819 | | | 33 | % | | | Non-GAAP Operating Income (1) | | $ | 1,534 | | | $ | 2,143 | | | 40 | % | | | Non-GAAP Net Income (1) | | $ | 1,280 | | | $ | 1,652 | | | 29 | % | | | Non-GAAP EPS (1) | | $ | 0.60 | | | $ | 0.81 | | | 35 | % | | | Net cash provided by operating activities | | $ | 2,564 | | | $ | 2,862…

9. #9and

   Definitions of Non-GAAP Measures

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    Results by Offering and Segment Gross Bookings | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | | | | (In millions, except percentages) | | 2025 | | 2026 | | % Change | | % Change (Constant Currency) | | | | | | | | | | Gross Bookings: | | | | | | | | | Mobility | | $ | 23,762 | | | $ | 28,988 | | | 22 | % | | 20 | % | Delivery | | 21,734 | | | 27,463 | | | 26 | % | | 25 | % | Freight | | 1,260 | | | 1,571 | | | 25 | % | | 25 | % | Total | | $ | 46,756 | | | $ | 58,022 | | | 24 | % | | 22 | % |

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    Revenue | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | | | | (In millions, except percentages) | | 2025 | | 2026 | | % Change | | % Change (Constant Currency) | | | | | | | | | | Revenue: | | | | | | | | | Mobility | | $ | 7,288 | | | $ | 7,363 | | | 1 | % | | 0 | % | Delivery | | 4,102 | | | 5,245 | | | 28 | % | | 26 | % | Freight | | 1,261 | | | 1,583 | | | 26 | % | | 25 | % | Total | | $ | 12,651 | | | $ | 14,191 | | | 12 | % | | 11 | % |

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    Non-GAAP Operating Income and Segment Operating Income (Loss) | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | | (In millions, except percentages) | | 2025 | | 2026 | | % Change | | | | | | | | Segment Operating Income (Loss): | | | | | | | Mobility | | $ | 1,729 | | | $ | 2,215 | | | 28 | % | Delivery | | 766 | | | 1,055 | | | 38 | % | Freight | | (26) | | | (24) | | | 8 | % | Corporate G&A and Platform R&D (1) | | (935) | | | (1,103) | | | (18) | % | Non-GAAP Operating Income (2) | | $ | 1,534 | | | $ | 2,143 | | | 40 | % |

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    Non-GAAP Operating Income

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    Webcast and conference call information A live audio webcast of our second quarter ended June 30, 2026 earnings release call will be available at https://investor.uber.com/, along with the earnings press release and slide presentation. The call begins on August 5, 2026 at 5:00 AM (PT) / 8:00 AM (ET). This press release, including the reconciliations of certain non-GAAP measures to their nearest comparable GAAP measures, is also available on that site. We also provide announcements regarding our financial performance and other matters, including SEC filings, investor events, press and earnings releases, on our investor relations website (https://investor.uber.com/), and our blogs (https://uber.com/blog) and X accounts (@uber and @dkhos), as a means of disclosing material information and complying with our disclosure obligations under Regulation FD. About Uber Uber’s mission is to create opportunity through movement. We started in 2010 to solve a simple problem: how do you get access to a ride at the touch of a button? More than 79 billion trips later, we're building products to get people closer to where they want to be. By changing how people, food, and things move through cit…

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    Definitions of Non-GAAP Measures

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    UBER TECHNOLOGIES, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (In millions) (Unaudited) | | | | | | | | | | | | | | | | | As of December 31, 2025 | | As of June 30, 2026 | Assets | | | | | Cash and cash equivalents | | $ | 7,105 | | | $ | 4,870 | | Short-term investments | | 528 | | | 521 | | Restricted cash and cash equivalents | | 631 | | | 661 | | Accounts receivable, net | | 3,827 | | | 4,298 | | Prepaid expenses and other current assets | | 1,902 | | | 2,179 | | Total current assets | | 13,993 | | | 12,529 | | Restricted cash and cash equivalents | | 1,911 | | | 1,646 | | Restricted investments | | 8,874 | | | 9,486 | | Investments | | 9,178 | | | 8,759 | | Equity method investments | | 287 | | | 3,773 | | Property and equipment, net | | 1,897 | | | 1,809 | | Operating lease right-of-use assets | | 1,114 | | | 1,558 | | Intangible assets, net | | 1,048 | | | 1,132 | | Goodwill | | 8,931 | | | 9,472 | | Deferred tax assets | | 10,951 | | | 10,162 | | Other non-current assets | | 3,618 | | | 5,475 | | Total assets | | $ | 61,802 | | | $ | 65,801 | | Liabilities, redeemable non-controlling interests and equity | | | | | Accounts payable | | $ | 1,013 | |…

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    UBER TECHNOLOGIES, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (In millions, except share amounts which are reflected in thousands, and per share amounts) (Unaudited) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | | 2025 | | 2026 | | 2025 | | 2026 | Revenue | | $ | 12,651 | | | $ | 14,191 | | | $ | 24,184 | | | $ | 27,394 | | Costs and expenses | | | | | | | | | Cost of revenue, exclusive of depreciation and amortization shown separately below | | 7,611 | | | 7,815 | | | 14,548 | | | 15,073 | | Operations and support | | 696 | | | 805 | | | 1,364 | | | 1,568 | | Sales and marketing | | 1,210 | | | 1,515 | | | 2,267 | | | 2,841 | | Research and development | | 840 | | | 1,043 | | | 1,655 | | | 1,994 | | General and administrative | | 669 | | | 935 | | | 1,326 | | | 1,733 | | Depreciation and amortization | | 175 | | | 188 | | | 346 | | | 372 | | Total costs and expenses | | 11,201 | | | 12,301 | | | 21,506 | | | 23,581 | | Income from operations | | 1,450 | | | 1,890 | | | 2,678 | | | 3,813 | | Interest expense | | (108) | | | (127) | | | (213) | | | (235) | | Interest income | | 181…

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    UBER TECHNOLOGIES, INC. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (In millions) (Unaudited) | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | | 2025 | | 2026 | | 2025 | | 2026 | Cash flows from operating activities | | | | | | | | | Net income including non-controlling interests | | $ | 1,350 | | | $ | 2,416 | | | $ | 3,124 | | | $ | 2,698 | | Adjustments to reconcile net income to net cash provided by operating activities: | | | | | | | | | Depreciation and amortization | | 181 | | | 195 | | | 359 | | | 386 | | Stock-based compensation | | 475 | | | 550 | | | 910 | | | 1,023 | | Deferred income taxes | | 87 | | | 665 | | | (325) | | | 771 | | (Gains) losses on debt and equity securities, net | | 17 | | | (1,612) | | | (34) | | | (138) | | (Gains) losses on foreign currency transactions, net | | (101) | | | (58) | | | (152) | | | (53) | | Other | | 106 | | | 296 | | | 79 | | | 316 | | Change in assets and liabilities, net of impact of business acquisitions and disposals: | | | | | | | | | Accounts receivable | | (212) | | | (425) | | | (335) | | | (499) | | Prepaid expenses and other asset…

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    | | | | | | | | | | | | | | | | | | | | | | | | | | | Cash and cash equivalents, and restricted cash and cash equivalents | | | | | | | | | Beginning of period | | 8,600 | | | 8,110 | | | 8,610 | | | 9,647 | | End of period | | $ | 9,667 | | | $ | 7,177 | | | $ | 9,667 | | | $ | 7,177 | |

20. #20prepared remarks

    Key Terms for Our Key Metrics Driver(s). The term Driver collectively refers to independent providers of ride or delivery services who use our platform to provide Mobility or Delivery services, or both. Gross Bookings. We define Gross Bookings as the total dollar value, including any applicable taxes, tolls, and fees, of: Mobility rides, Delivery orders (in each case without any adjustment for consumer discounts and refunds, Driver and Merchant earnings, and Driver incentives) and Freight revenue. Gross Bookings do not include tips earned by Drivers. Gross Bookings are an indication of the scale of our current platform, which ultimately impacts revenue. Monthly Active Platform Consumers (“MAPCs”). We define MAPCs as the number of unique consumers who completed a Mobility ride or received a Delivery order on our platform at least once in a given month, averaged over each month in the quarter. While a unique consumer can use multiple product offerings on our platform in a given month, that unique consumer is counted as only one MAPC. Segment Operating Income (Loss). We define each segment’s Operating Income (Loss) as segment revenue less direct costs and expenses of that segment…

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    Definitions of Non-GAAP Measures We collect and analyze operating and financial data to evaluate the health of our business and assess our performance. In addition to revenue, net income (loss), income (loss) from operations, and other results under GAAP, we use: Non-GAAP Operating Income; Non-GAAP Net Income; Non-GAAP EPS; Free cash flow; as well as, reve nue growth rates in constant currency, which are described below, to evaluate our business. Adjusted EBITDA is no longer a key measure used by management; we include a disclosure on Adjusted EBITDA to assist during the transition to our new non-GAAP measures. We have included these non-GAAP financial measures because they are key measures used by our management to evaluate our operating performance, generate future operating plans, and make strategic decisions. Accordingly, we believe that these non-GAAP financial measures provide useful information to investors and others in understanding and evaluating our operating results in the same manner as our management team and board of directors. In addition, they provide useful measures for period-to-period comparisons of our business, as they remove the effect of certain non-cash e…

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    Our Non-GAAP Net Income excludes the adjustments that are excluded from Non-GAAP Operating Income, as well as certain components below income from operations, such as certain items that are not indicative of our recurring core business operating results and certain income tax effects. • Other income (expense), net. Primarily includes items not indicative of our ongoing operating performance. From time to time, we may exclude other gains, losses, benefits, or charges that are unpredictable, in both magnitude and timing, and items not indicative of our ongoing operating performance. These items include, but are not limited to: foreign currency exchange gain (losses), net, and unrealized (gain) loss on debt and equity securities, net. • Income tax effects. Primarily include the income tax effects of the adjustments excluded from Non-GAAP Net Income and exclude other income tax benefits or expenses that are unpredictable, in both magnitude and timing, and not indicative of the tax associated with our ongoing operating performance. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | | | 2025 | | 2026 | | 2025 | | 20…

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    • Adjustment to redeemable non-controlling interests. Primarily reflects changes in the carrying value of redeemable non-controlling interests that are subject to put or call arrangements not solely within our control, which are remeasured to their estimated redemption value on a quarterly basis. These adjustments are non-cash in nature and are not indicative of our ongoing operating performance. Non-GAAP EPS We define Non-GAAP EPS as Non-GAAP Net Income attributable to common stockholders divided by Non-GAAP weighted-average shares outstanding. Adjustments to GAAP diluted weighted-average shares outstanding are for any potentially dilutive outstanding securities in periods where Non-GAAP Net Income is positive, but GAAP Net income was in a loss position. Limitations of Non-GAAP Operating Income, Non-GAAP Net Income and Non-GAAP EPS and Non-GAAP Operating Income, Non-GAAP Net Income and Non-GAAP EPS Reconciliations These non-GAAP financial measures have limitations as financial measures, should be considered as supplemental in nature, and are not meant as a substitute for the related financial information prepared in accordance with GAAP. These limitations include the followin…

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    normal, recurring legal, non-income tax and regulatory matters and related expenses incurred in our ongoing operating performance. Limitations of Adjusted EBITDA and Adjusted EBITDA Reconciliation Adjusted EBITDA has limitations as a financial measure, should be considered as supplemental in nature, and is not meant as a substitute for the related financial information prepared in accordance with GAAP. These limitations include the following: • Adjusted EBITDA excludes certain recurring, non-cash charges, such as depreciation of property and equipment and amortization of intangible assets, and although these are non-cash charges, the assets being depreciated and amortized may have to be replaced in the future, and Adjusted EBITDA does not reflect all cash capital expenditure requirements for such replacements or for new capital expenditure requirements; • Adjusted EBITDA excludes stock-based compensation expense, which has been, and will continue to be for the foreseeable future, a significant recurring expense in our business and an important part of our compensation strategy; • Adjusted EBITDA excludes certain restructuring and related charges, part of which may be settled …

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    Reconciliations of Non-GAAP Measures Non-GAAP Operating Income, Non-GAAP Net Income and Non-GAAP EPS The following tables present reconciliations of GAAP and Non-GAAP Operating Income, GAAP and Non-GAAP Net Income and GAAP and Non-GAAP EPS: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | (In millions, except share amounts which are reflected in thousands, and per share amounts) | | 2025 | | 2026 | | 2025 | | 2026 | GAAP Income from operations | | $ | 1,450 | | | $ | 1,890 | | | $ | 2,678 | | | $ | 3,813 | | Add (deduct): | | | | | | | | | Amortization of acquired intangible assets | | 65 | | | 61 | | | 129 | | | 120 | | Legal, non-income tax, and regulatory reserve changes and settlements | | — | | | 141 | | | 28 | | | 12 | | Goodwill and asset impairments/loss on sale of assets | | — | | | 4 | | | — | | | 4 | | Acquisition, financing and divestitures related expenses | | 19 | | | 31 | | | 22 | | | 56 | | Loss on lease arrangement, net | | — | | | — | | | 2 | | | 5 | | Restructuring and related charges | | — | | | 16 | | | 1 | | | 16 | | Total adjustments excluded from Non-GAAP Operating Income | |…

26. #26prepared remarks

    (1) Income tax effects include the impact of a stock loss and capitalized research and development expenses through Q2 2025 and the deferred U.S. tax impact related to our equity securities through Q2 2026. (2) Per share amounts are calculated using unrounded numbers and therefore may not recalculate.

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    Adjusted EBITDA The following table presents reconciliations of Adjusted EBITDA to the most directly comparable GAAP financial measure for each of the periods indicated: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | (In millions) | | 2025 | | 2026 | | 2025 | | 2026 | Adjusted EBITDA reconciliation: | | | | | | | | | Net income attributable to Uber Technologies, Inc. | | $ | 1,355 | | | $ | 2,394 | | | $ | 3,131 | | | $ | 2,657 | | Add (deduct): | | | | | | | | | Net income (loss) attributable to non-controlling interests, net of tax | | (5) | | | 22 | | | (7) | | | 41 | | Loss from equity method investments | | 12 | | | 21 | | | 25 | | | 41 | | Provision for (benefit from) income taxes | | 142 | | | 840 | | | (260) | | | 1,034 | | Other (income) expense, net | | 19 | | | (1,342) | | | (74) | | | 152 | | Interest expense | | 108 | | | 127 | | | 213 | | | 235 | | Interest income | | (181) | | | (172) | | | (350) | | | (347) | | Income from operations | | 1,450 | | | 1,890 | | | 2,678 | | | 3,813 | | Add (deduct): | | | | | | | | | Depreciation and amortization | | 175 | | | 188 | | | 346 | | | 37…

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    Free Cash Flow The following tables present reconciliations of free cash flow to the most directly comparable GAAP financial measure for each of the periods indicated: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, | | Six Months Ended June 30, | (In millions) | | 2025 | | 2026 | | 2025 | | 2026 | Free cash flow reconciliation: | | | | | | | | | Net cash provided by operating activities | | $ | 2,564 | | | $ | 2,862 | | | $ | 4,888 | | | $ | 5,213 | | Purchases of property and equipment | | (89) | | | (70) | | | (163) | | | (135) | | Free cash flow | | $ | 2,475 | | | $ | 2,792 | | | $ | 4,725 | | | $ | 5,078 | |