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Uber

Platform strategy, Three-year outlook to 2026

To create opportunity through movement
Uber’s mission

Platform strategy

Uber runs ride-hailing, delivery, and freight on one platform, used by 208 million people a month, with 3.9 billion trips in the second quarter of 2026. Uber’s strategy is to sell more of its services to each customer through one membership, to bring autonomous vehicles onto its network, and to meet targets for growth, profit, and cash.,

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Cross-platform strategy

One app and one membership for rides, food, groceries, and other deliveries.

  1. Uber OneGrow Uber One, the membership across Mobility and Delivery, to deepen loyalty and get members using both.
  2. Local commerceBring all local commerce to people’s doors, led by Grocery & Retail.
  3. ReachBuy Delivery Hero, reaching nearly 100 markets and nearly doubling those with both Mobility and Delivery.
  • 6 May 2026Uber One passed 50 million members in April 2026, up 50%, and members made half of Mobility and Delivery gross bookings.
  • 5 August 2026Grocery & Retail reached $15 billion of gross bookings a year, growing about 40%.
  • 5 August 2026Monthly active platform consumers up 16% to 208 million in the second quarter of 2026.

Uber One members make half of all bookings

Uber One is Uber’s membership for rides and delivery. About 1 in 5 eligible consumers use both rides and delivery, and among members it is 2 in 5. Membership passed 50 million in April 2026.,

50%

of Mobility and Delivery gross bookings came from Uber One members, in early 2026.

Each cell is 1% of gross bookings.

Uber is ahead of two of its three targets for 2024 to 2026

In February 2024 Uber set three targets for 2024 to 2026: gross bookings growth in the mid to high teens a year, adjusted EBITDA growth of the high 30s to 40% a year, and free cash flow of at least 90% of adjusted EBITDA each year. After two years, bookings growth is within its range.,

0102030400%Gross bookings growtha year since 2023; outlook mid to high teens0204060800%Adjusted EBITDA growtha year since 2023; outlook high 30s to 40%03060901201500%Free cash flowas a share of adjusted EBITDA; outlook 90% or more

Growth is the yearly rate from 2023 to the year chosen, worked out from Uber’s yearly results. Free cash flow is for that year alone. The mid to high teens are shown as 15% to 19%.,

  1. Sell the platform, not one product.

    About one in five eligible Uber consumers use both rides and delivery; among Uber One members it is two in five. We recommend offers that draw customers across the range, not only deeper into one product.

  2. Own your part of the next shift.

    Uber is not building its own self-driving car. It is building what developers need to launch on its network, from demand and dispatch to charging, financing, and insurance. We recommend preparing the parts of a coming change that you can own best.

  3. Set targets you can be held to.

    Uber set three-year targets for bookings, profit, and cash in February 2024, and in February 2026 said it was solidly on track. We recommend a few multi-year targets, stated plainly, that others can check.

Sources

  1. 1. Uber Technologies, Inc. (2024). Form 8-K: repurchase authorisation and investor update presentation. US Securities and Exchange Commission, 14 February 2024. sec.gov
  2. 2. Uber Technologies, Inc. (2025). Uber announces results for fourth quarter and full year 2024. Form 8-K, exhibit 99.1, US Securities and Exchange Commission, 5 February 2025. sec.gov
  3. 3. Uber Technologies, Inc. (2026). Uber announces results for fourth quarter and full year 2025. Form 8-K, exhibit 99.1, US Securities and Exchange Commission, 4 February 2026. sec.gov
  4. 4. Uber Technologies, Inc. (2026). Q1 2026 prepared remarks. Uber investor relations, 6 May 2026. s23.q4cdn.com
  5. 5. Uber Technologies, Inc. (2026). Uber announces results for second quarter 2026. Form 8-K, exhibit 99.1, US Securities and Exchange Commission, 5 August 2026. sec.gov
  6. 6. Uber Technologies, Inc. (2026). Q2 2026 prepared remarks. Uber investor relations, 5 August 2026. s23.q4cdn.com

Headwater is not connected with Uber. Uber, Uber One, and Uber Eats are trade marks of their owners. Updated 30 September 2026.

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