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Uber Technologies, Inc 8-K Report, Financial Results (Feb 4, 2026)

Reports
Earnings & Results·Leadership Changes·Exhibits & Filings
Filing Date
Filed February 4, 2026
Period End
January 30, 2026
Security
UBER
In the record · 2019–202610-K710-Q238-K117

UBER filed 7 annual reports (10-K), 23 quarterly reports (10-Q) and 117 current reports (8-K) between 2019 and 2026.

  1. Leadership change8-K · Jul ’20Jul ’20
  2. Material agreement8-K · Apr ’22Apr ’22
  3. Material agreement8-K · Nov ’23Nov ’23
  4. Leadership change8-K · Jun ’25Jun ’25

01—Abstract

Summary

Summary of the 8-K filed February 4, 2026. Cited figures are marked; the original filing is the authoritative source.

Uber reported a strong fourth quarter and full year 2025 and announced a CFO transition.

Q4 2025 Gross Bookings grew 22% year-over-year to $54.1 billiona, revenue grew 20% to $14.4 billion, and GAAP income from operations more than doubled (up 130%) to $1.8 billion. Adjusted EBITDA rose 35% to $2.5 billion, and free cash flow reached a record $2.8 billion in the quarter and $9.8 billion for full year 2025. GAAP net income attributable to Uber was only $296 million, or $0.14 per diluted share, because of a $1.6 billion pre-tax headwind from revaluations of its equity investments, so investors should focus on the non-GAAP Operating Income (up 46% to $1.9 billion) and Non-GAAP EPS (up 27% to $0.71) for underlying performance.

For Q1 2026, Uber guided to Gross Bookings of $52.0 to $53.5 billionb, implying 17% to 21% constant-currency growth, and Non-GAAP EPS of $0.65 to $0.72, which is about 37% growth at the midpoint. Adjusted EBITDA is guided to $2.37 to $2.47 billion. Management emphasized continued investment in autonomous vehicles (AV) over the coming years, funded by large free cash flow.

On the leadership side, CFO Prashanth Mahendra-Rajah will step down effective February 16, 2026, and will remain as a Senior Finance Advisor through July 1, 2026. Balaji Krishnamurthy, previously Vice President of Strategic Finance and former Head of Investor Relations, will become CFO.

The separation is not related to any disagreement over financial disclosures or accounting. Krishnamurthy's compensation package includes a $600,000c base salary, RSUs worth $9.4 million, options worth $3.1 million, and a one-time RSU award of $5.0 million.

02—Key points

Key Highlights

  1. Q4 2025 Gross Bookings rose 22% YoY to $54.1 billion (Mobility +20%, Delivery +26%, Freight -1%), and trips grew 22% to 3.8 billion.
  2. GAAP income from operations rose 130% YoY to $1.8 billion, and Adjusted EBITDA grew 35% to $2.5 billion (4.6% of Gross Bookings, up from 4.2%).
  3. Record quarterly operating cash flow of $2.9 billion and free cash flow of $2.8 billion; full-year 2025 free cash flow was $9.8 billion, up 42%.
  4. GAAP diluted EPS was $0.14 due to a $1.6 billion pre-tax headwind from equity investment revaluations, while Non-GAAP EPS grew 27% to $0.71.
  5. Q1 2026 guidance: Gross Bookings of $52.0–$53.5 billion (17%–21% constant-currency growth) and Non-GAAP EPS of $0.65–$0.72.
  6. CFO Prashanth Mahendra-Rajah departs February 16, 2026; Balaji Krishnamurthy, former Head of Investor Relations, becomes CFO, with the outgoing CFO serving as an advisor through July 1, 2026.
  7. Uber's cash and short-term investments totaled $7.6 billion at year-end, and the company has achieved investment-grade status and executed its first share repurchase program (Q4 buybacks of $1.9 billion, full-year $6.5 billion).

03—Questions

Frequently Asked Questions

  1. Why did GAAP net income fall so sharply despite strong operating results?

    GAAP net income attributable to Uber was $296 million in Q4 2025, down 96% from $6.9 billion in Q4 2024. The prior-year quarter included a $6.4 billion tax valuation release, while Q4 2025 included a $1.6 billion pre-tax loss from revaluing Uber's equity investments. Operating income rose 130%, so the decline is driven by non-operating and tax items rather than core business weakness.

  2. What does the CFO transition mean for Uber's financial leadership?

    Balaji Krishnamurthy, who has been Vice President of Strategic Finance since 2023 and led Investor Relations from 2020 to 2023, takes over as CFO on February 16, 2026. The company says the change is not related to any disagreement on accounting or financial disclosures. Mr. Mahendra-Rajah will stay on as a Senior Finance Advisor through July 1, 2026, and receives severance under the company's Executive Severance Plan subject to a general release.

  3. What is Uber's outlook for Q1 2026?

    Uber guides to Q1 2026 Gross Bookings of $52.0–$53.5 billion, or 17%–21% constant-currency growth, with an assumed roughly 4-point currency tailwind to reported growth. Non-GAAP EPS is expected at $0.65–$0.72 (about 37% growth at the midpoint), implying Adjusted EBITDA of $2.37–$2.47 billion.

  4. How strong is Uber's cash generation and how is it being deployed?

    Operating cash flow was $10.1 billion in 2025 and free cash flow was $9.8 billion, both up about 42%. Uber repurchased $6.5 billion of common stock during 2025, repaid $2.35 billion of debt, and issued $3.4 billion of new debt. Management says it will invest with discipline in opportunities including positioning for autonomous vehicles, while maintaining large free cash flow.

  5. What are the key compensation terms for the incoming CFO?

    Krishnamurthy's employment agreement provides a $600,000 annual base salary and eligibility for the Executive Bonus Plan. He receives restricted stock units valued at $9.375 million (subject to time- and performance-based vesting), stock options valued at $3.125 million (time-vested), and a one-time RSU award of $5.0 million (time-vested). He is also eligible for the Executive Severance Plan.

04—Continue

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