Short answer
Uber (UBER) filed its Q3 2025 10-Q quarterly report on Nov 4, 2025 for the quarter ended Sep 30, 2025. Quarterly revenue was $13.5B (up 20.4% year over year) with net income of $6.6B.
Q3 2025 key financials · XBRL
- Revenue
- $13.5B
- +20.4% YoY · +6.5% QoQ
- Net income
- $6.6B
- +153.7% YoY · +389.0% QoQ
- Operating margin
- 8.3%
- EPS (diluted)
- $3.11
- +157.0% YoY · +393.7% QoQ
Source: XBRL data from the Uber (UBER) Q3 2025 10-Q on SEC EDGAR. USD.
Uber Q3 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Revenue $13.5B, up 20% YoY (+$2.3B from $11.2B in Q3 2024), driven by 21% increase in Gross Bookings
- Adjusted EBITDA $2.3B, up 33.5% YoY ($566M increase from $1.69B); operating income $1.1B, margin ~8.3% vs ~9.5% (Q3 2024 $1.06B on $11.2B)
- Best segment: Delivery revenue +29% to $4.5B, Adjusted EBITDA +47% to $921M; Worst segment: Freight revenue flat at $1.3B, Adjusted EBITDA down 5% to -$20M
- Cash $9.1B unrestricted; operating cash flow $7.2B YTD, free cash flow $6.955B; repurchased $4.6B stock YTD; redeemed $1.2B debt in 2025
- Near-term outlook includes scheduled $1.15B Convertible Notes redemption in Dec 2025; management cautious of legal risks on driver classification; broad share repurchase authorization increased to $27B
Risk Factors
- New risk: Mexico Federal Labor Law amended in Dec 2024, reclassifying earners making >1 minimum salary/month as employees, increasing labor costs and requiring business model changes
- Updated risk: California Proposition 22 litigation ongoing after 2020 passage; CA Supreme Court upheld it, but challenges continue, affecting driver classification risks
- Legal risk: Data security breaches (e.g., 2016 breach of 57M users, 2022 cyberattack) and complex global data/privacy laws expose Uber to regulatory fines, litigation, and reputational damage
- Operational risk: High competition in 5 key metro areas generating 20% Mobility bookings; regulatory, economic or health events in these areas could severely disrupt revenue
- Financial risk: Total debt $11.8B as of Sept 30, 2025; restrictive covenants limit flexibility; may affect liquidity and increase interest expense burden
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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