Uber Technologies (UBER) investor relations material

Executive summary

• Gross Bookings reached $58.0 billion, up 22% year-over-year, with record highs in MAPCs, frequency, and trips, and strong growth across Mobility (20%), Delivery (25%), and Freight (25%).

• Non-GAAP EPS grew 35% year-over-year to $0.81, and trailing twelve-month free cash flow exceeded $10 billion for the first time.

• Net income attributable to shareholders was $2.4 billion, including a $1.6 billion pre-tax gain from equity investment revaluations; diluted EPS was $1.17, up from $0.63 in Q2 2025.

• Major acquisitions announced or completed include Delivery Hero, Getir, and Blacklane, expanding cross-platform reach to nearly 100 markets and adding over 50 million new eligible users.

• Strategic focus remains on scaling autonomous vehicles (AVs), with AVs live in 7 cities and plans to expand to 15 by year-end, and continued investment in AV Labs and AI integration.

Financial highlights

• Revenue increased 12% year-over-year to $14.2 billion, with an $1.1 billion headwind from a UK business model change.

• Non-GAAP Operating Income rose 40% year-over-year to $2.1 billion (3.7% of Gross Bookings); Adjusted EBITDA was $2.8 billion, up 33% year-over-year.

• Free cash flow for Q2 2026 was $2.8 billion, with trailing twelve-month free cash flow exceeding $10 billion.

• Net cash provided by operating activities was $2.9 billion for the quarter; unrestricted cash, cash equivalents, and short-term investments totaled $5.4 billion at quarter end.

• Gross Bookings by segment: Mobility $29.0B (+20% YoY), Delivery $27.5B (+25% YoY), Freight $1.6B (+25% YoY); segment operating income: Mobility $2.2B (+28% YoY), Delivery $1.1B (+38% YoY), Freight -$24M.

Outlook and guidance

• Q3 2026 Gross Bookings expected at $58.25–$60.25 billion, up 18–22% year-over-year on a constant currency basis.

• Q3 Non-GAAP EPS guidance: $0.84–$0.88, up 28–35% year-over-year; Adjusted EBITDA guidance: $2.86–$2.96 billion.

• Full-year 2026 stock-based compensation expected at $1.95–$2.10 billion; Non-GAAP depreciation and amortization $450–$550 million.

• Full-year 2026 Non-GAAP effective tax rate expected at 22–24%; cash tax rate in the mid-to-high single digits.

• Integration of Delivery Hero expected to close in H2 2027, with primary migrations in 2029.