Company file · UBER
Uber
Uber's revenue grew in 2025, with delivery growing fastest
Revenue rose 18.3% to $52.0B. Delivery revenue grew 25.4%, and net income was $10.1B.
Key facts
Uber (NYSE: UBER) closed fiscal 2025 on Dec 31, 2025 with revenue of $52.0B, up 18.3% from a year before; net income to Uber came to $10.1B, up 2.0%. Its newest quarterly report covers the three months to Jun 30, 2026: revenue of $14.2B, up 12.2% on the same stretch of the prior year, and net income of $2.4B. Broken down by segment, Mobility led with 57% of fiscal 2025 revenue. Sources: 10-K for fiscal 2025 (filed Feb 13, 2026) and 10-Q for the quarter ended Jun 30, 2026 (filed Aug 5, 2026).
Source: 10-K FY2025, filed Feb 13, 2026
Source: 10-Q filed May 6, 2026 · 10-Q filed Aug 5, 2026
How it makes money
By segment, FY2025
Source: 10-K FY2025, XBRL breakdown
Mobility was 57% of 2025 revenue, Delivery 33% and Freight 10%.
Source: 10-K FY2025
What changed last quarter
Comparing Q2 2026 (Apr to Jun 2026) compared with Q2 2025 (Apr to Jun 2025)
Each pair of bars shows the dollar amount for both quarters. Longer bar, more money. Bars in a group share one scale.
Q2 2026Q2 2025
Company
Source: Uber 10-Q for the quarter ended Jun 30, 2026, filed Aug 5, 2026
By segment
Source: Uber 10-Q for the quarter ended Jun 30, 2026, filed Aug 5, 2026
The bull case and the bear case
The bull case
- Revenue rose 18.3% in 2025 to $52.0B, and Delivery revenue grew 25.4%. 10-K, FY2025
- Operating cash flow rose 41.5% in 2025 to $10.1B. 10-K, FY2025
- Revenue in the quarter ended Jun 30, 2026 was $14.2B, up 12.2% on a year earlier, and net income rose 76.7% to $2.4B. 10-Q, quarter ended Jun 30, 2026
- Diluted shares fell 1.4% in 2025. 10-K, FY2025
The bear case
- Net income rose just 2.0% in 2025, much slower than revenue. 10-K, FY2025
- Freight revenue fell 0.8% in 2025. 10-K, FY2025
- Total debt was $12.7B at Jun 30, 2026, up 20.9% from the end of 2025. 10-Q, quarter ended Jun 30, 2026
- The 10-K lists driver classification, competition, regulation, safety and autonomous vehicles among its risks. 10-K, Item 1A
What optimists and skeptics tend to point to, each tied to a filing. Ticker Sage doesn't pick a side, and neither list is a reason to buy or sell.
What the company does
Uber runs a ride-hailing app and a food and grocery delivery app in many countries, and a freight brokerage that connects shippers with truckers.
Mobility connects riders with drivers for rides and other transport. Delivery (mainly Uber Eats) connects customers with restaurants, grocers and other stores. Freight matches shippers with carriers.
Drivers and couriers are mostly independent contractors. Revenue is mainly its fees, though in some markets it reports the full fare. Its fiscal year is the calendar year.
Source: 10-K, Item 1 Business
Main risks the company lists
Our plain-English paraphrase of the risk factors in Uber's latest 10-K. Read the original for the full list.
- Driver classificationLaws or rulings that treat drivers as employees could raise costs.
- CompetitionIt competes with other ride-hailing, delivery and freight apps on price and incentives.
- RegulationCities and countries regulate ride-hailing and delivery, and some restrict them.
- SafetyIncidents involving riders, drivers or couriers can lead to claims and harm its brand.
- Autonomous vehiclesSelf-driving cars could change the economics of rides.
- InvestmentsIt holds stakes in other companies whose value can swing.
Source: 10-K, Item 1A Risk Factors (the full list, in the company's words)
Three years of key numbers
Every number links to its filing; hover for the XBRL tag. A dash means the number isn't cleanly available, and we don't estimate it.
| US$ | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Revenue | $37.3B | $44.0B | $52.0B |
| Net income to Uber | $1.9B | $9.9B | $10.1B |
| Operating cash flow | $3.6B | $7.1B | $10.1B |
| Cash & equivalents (year end) | $4.7B | $5.9B | $7.1B |
| Total debt (year end) | $9.6B | $9.6B | $10.5B |
| Diluted shares | 2.09B | 2.15B | 2.12B |
- Revenue: Fees from rides, food and grocery delivery and freight brokerage. In some markets it books the full fare as revenue.
- Net income to Uber: Net income attributable to Uber, after the share belonging to minority owners.
- Operating cash flow: Cash the business brought in from its day-to-day operations during the year (cash flow statement).
- Cash & equivalents: Cash and short-term investments that count as cash equivalents on the balance sheet. Excludes longer-dated marketable securities.
- Total debt: Term loans and notes, current and long-term, at carrying value.
- Diluted shares: Weighted average shares outstanding for the year, including the effect of options and stock awards.
About these numbers
- Segment revenue adds up to total revenue.
- Net income is attributable to Uber and includes gains and losses on the value of its stakes in other companies.
Recent filings
Latest filings
- Oct 208:05 PM ET
Form 4
Uber CFO Balaji (a) Krishnamurthy reports exercising or converting 4,392 shares
The filing reports 4,392 shares in an exercise or conversion of a derivative security (code M); and 2,243 shares withheld to pay the exercise price or tax (code F).
- Oct 208:05 PM ET
Form 4
Uber See Remarks Andrew Macdonald reports exercising or converting 10,168 shares
The filing reports 10,168 shares in an exercise or conversion of a derivative security (code M); and 5,684 shares withheld to pay the exercise price or tax (code F).
- Oct 208:04 PM ET
Form 4
Uber See Remarks Tony West reports exercising or converting 7,195 shares
The filing reports 7,195 shares in an exercise or conversion of a derivative security (code M); and 3,569 shares withheld to pay the exercise price or tax (code F).
- Oct 208:04 PM ET
Form 4
Uber See Remarks Jill Hazelbaker reports exercising or converting 9,160 shares
The filing reports 9,160 shares in an exercise or conversion of a derivative security (code M); and 4,626 shares withheld to pay the exercise price or tax (code F).
- Oct 208:04 PM ET
Form 4
Uber See Remarks Glen Ceremony reports exercising or converting 3,611 shares
The filing reports 3,611 shares in an exercise or conversion of a derivative security (code M); and 1,793 shares withheld to pay the exercise price or tax (code F).
Common questions about Uber
How does Uber make money?
Fiscal 2025 revenue: $52.0B. Mobility was 57% of 2025 revenue, Delivery 33% and Freight 10%. Source: 10-K for fiscal 2025, filed Feb 13, 2026.
What was Uber's revenue in fiscal 2025?
$52.0B, up 18.3% from fiscal 2024 ($44.0B). The year ended Dec 31, 2025; for fiscal 2023 the figure was $37.3B. Source: 10-K for fiscal 2025, filed Feb 13, 2026.
Is Uber profitable?
Net income to Uber was $10.1B in fiscal 2025 (up 2.0%; fiscal 2024 was $9.9B). That counts as a GAAP profit. The latest quarter, ended Jun 30, 2026: net income was $2.4B. The page's About these numbers section explains what is included. Source: 10-K for fiscal 2025, filed Feb 13, 2026.
What did Uber report in its latest quarterly filing?
For the three months to Jun 30, 2026: revenue $14.2B (up 12.2% from $12.7B) and net income $2.4B (up 76.7% from $1.4B). Source: 10-Q for the quarter ended Jun 30, 2026, filed Aug 5, 2026.
How much cash and debt does Uber have?
As of Jun 30, 2026: $4.9B of cash and cash equivalents, $12.7B of total debt. Total debt here is term loans and notes, current and long-term, at carrying value. Source: 10-Q filed Aug 5, 2026.
What are the main risks Uber lists?
The risk factors are in Item 1A of the 10-K filed Feb 13, 2026. This page sorts them into 6 groups (Driver classification; competition; regulation; safety; autonomous vehicles; investments). The first group in plain English: Laws or rulings that treat drivers as employees could raise costs. Source: 10-K, Item 1A Risk Factors.
Where do these Uber numbers come from?
The 10-K filed Feb 13, 2026 (fiscal 2025) and the 10-Q filed Aug 5, 2026 (quarter ended Jun 30, 2026), as published in the SEC's XBRL data. Click any number to open the filing it came from. Methodology explains how fiscal years and missing numbers are handled.
Disclosures
- Editor holdings in UBER
- The editor holds no position in Uber (UBER). As of Oct 25, 2026.
- Trading rule
- The editor does not buy or sell UBER from 3 days before to 3 days after this page is published or substantively updated.
- Compensation
- Nobody paid for this page. No affiliate links on this page.
- Sources
- The company's SEC filings, linked next to each number or, for charts, in the source line under them.
- Last updated
- Oct 25, 2026
General education, the same for every reader. Not a recommendation to buy, sell or hold UBER, and it doesn't consider your situation.
Compare with peers
| Company | Fiscal year | Revenue | Revenue growth | Net income |
|---|---|---|---|---|
| Uber | FY2025 | $52.0B | +18.3% | $10.1B |
| Booking HoldingsBKNG | FY2025 | $26.9B | +13.4% | $5.4B |
| AlphabetGOOGL | FY2025 | $402.8B | +15.1% | $132.2B |
| AmazonAMZN | FY2025 | $716.9B | +12.4% | $77.7B |
Each row is that company’s latest fiscal year from its own 10-K, using its own revenue and net income lines. Fiscal years end in different months, and line definitions differ (banks, insurers and oil companies count revenue differently), so this is a rough side-by-side, not a like-for-like comparison.
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New to filings? Learn lists the first explainer topics. Methodology & Disclosures covers where every number comes from.