10-QPeriod: Q3 FY2025

Uber Technologies, Inc Quarterly Report for Q3 Ended Sep 30, 2025

Filed November 4, 2025For Securities:UBER

Summary

Uber Technologies, Inc. (UBER) reported a strong third quarter for 2025, demonstrating robust growth across its core segments. Revenue increased by 20% year-over-year to $13.5 billion, driven by a 21% rise in Gross Bookings to $49.7 billion on a constant currency basis. Both Mobility and Delivery segments saw significant Gross Booking growth, with Mobility up 19% and Delivery up 24% year-over-year (constant currency). This top-line growth translated into substantial profitability, with net income attributable to Uber Technologies, Inc. reaching $6.6 billion, significantly boosted by a $4.9 billion benefit from the release of its Netherlands' deferred tax asset valuation allowance. Adjusted EBITDA also saw a healthy increase of 33% to $2.3 billion, reflecting improved operational efficiency and segment performance. Financially, Uber ended the quarter with a strong liquidity position, holding $9.1 billion in unrestricted cash, cash equivalents, and short-term investments. The company also continued its capital allocation strategy, repurchasing shares worth $1.5 billion in the quarter and maintaining a substantial $21.1 billion available under its share repurchase program. Management signaled its intent to redeem the 2025 Convertible Notes, further strengthening its balance sheet.

Financial Highlights

50 data points
Beta

Revenue

$13.47B

Net Income

$6.63B

49.2% Net Margin

EPS (Diluted)

$3.11

Total Assets

$63.34B

Cash & Equivalents

$8.43B

Free Cash Flow

$2.23B

Financial Statements
Beta
Revenue$13.47B
R&D Expenses$862.00M
Operating Expenses$12.35B
Operating Income$1.11B
Net Income$6.63B
EPS (Basic)$3.18
EPS (Diluted)$3.11
Shares Outstanding (Basic)2.08B
Shares Outstanding (Diluted)2.12B

Key Highlights

  • 1Total revenue for Q3 2025 reached $13.5 billion, a 20% increase year-over-year.
  • 2Gross Bookings grew 21% year-over-year (constant currency) to $49.7 billion, driven by strong performance in Mobility and Delivery.
  • 3Net income attributable to Uber Technologies, Inc. was $6.6 billion, significantly impacted by a $4.9 billion release of the Netherlands' deferred tax asset valuation allowance.
  • 4Adjusted EBITDA increased by 33% to $2.3 billion, with strong growth in Mobility and Delivery Adjusted EBITDA.
  • 5The company ended the quarter with $9.1 billion in unrestricted cash, cash equivalents, and short-term investments.
  • 6Uber repurchased $1.5 billion of its common stock in Q3 2025, with $21.1 billion remaining on its share repurchase authorization.
  • 7The company announced its intent to redeem its 2025 Convertible Notes.

Frequently Asked Questions

The substantial increase in net income to $6.6 billion was primarily driven by a one-time benefit of $4.9 billion from the release of Uber's valuation allowance on its Netherlands' deferred tax assets. Additionally, favorable unrealized gains on debt and equity securities, largely from investments in Didi and Grab, contributed to the net income increase.

Both segments showed strong performance. Mobility segment revenue grew 20% year-over-year, with Adjusted EBITDA increasing 21% to $2.0 billion. The Delivery segment saw revenue growth of 29%, and its Adjusted EBITDA surged by 47% to $921 million, indicating strong operational leverage and market penetration.

Uber maintains a strong liquidity position, ending the quarter with $9.1 billion in unrestricted cash, cash equivalents, and short-term investments. The company continues to return capital to shareholders through its share repurchase program, repurchasing $1.5 billion of common stock in Q3 2025. Management also announced its intention to redeem its 2025 Convertible Notes.