Added10-Q 2026-11-04 vs 10-K 2026-02-13
Other examples of judicial decisions include a decision by the French Supreme Court that a driver for a third-party meal delivery
UBERUber
- Employees
- 34,000
- Headquarters
- San Francisco, CA
- CEO
- Dara Khosrowshahi
- Next results
- around Feb 3, 2027
15 paragraphs in Risk Factors of the 10-K filed Feb 13, 2026 with nothing like them in the 10-K filed Feb 14, 2025. Quoted exactly. Paragraphs that were only edited are under 10-K change.
Compared with the Risk Factors in the latest 10-K of the other 81 Industrials companies: a paragraph with at least half its words the same at another company is called similar, and the companies are listed under it. A paragraph most of them have is marked boilerplate. No line means no other company has one like it. This counts text; it does not say how serious a risk is.
given the loss of flexibility under an employment model, and we may not be able to hire a majority of the Drivers currently using our platform. Another example is in France, where the government is seeking social security contributions based on an allegation that Drivers are employees. The government issued a demand for contributions, which we are challenging and which is subject to ongoing discussions and engagement with authorities. Further, any such reclassification would require us to fundamentally change our business model, and consequently have an adverse effect on our business, results of operations, financial position and cash flows.
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that either are competing with us or may compete with us in the future, including Alphabet (Waymo), Amazon (Zoox), and Tesla.
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We are not able to control or predict the actions of platform users and third parties, either during their use of our platform or otherwise, and we may be unable to protect or provide a safe environment for Drivers and consumers as a result of certain actions by
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•import and export restrictions and changes in trade regulation, including tariffs;
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In 2025, we generated 15% of our Mobility Gross Bookings from trips that either started or were completed at an airport. As a
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cyberattacks. Any actual or perceived failure to maintain the performance, reliability, security, and availability of our products, offerings, and technical infrastructure to the satisfaction of platform users, shareholders and certain regulators would likely harm our reputation and result in loss of revenue from the adverse impact to our reputation and brand, disruption to our business, decreased ability to attract and retain Drivers, consumers, merchants, Shippers, and Carriers, and subject us to regulatory scrutiny or legal liability.
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If we are not able to adequately address any of these concerns, we could suffer significant reputational harm, which could adversely impact our business. Expanding cash payments to additional cities or countries could amplify these risks.
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Our ability to meet our electrification and waste reduction related goals is dependent on many external factors, including such factors as rapidly changing regulatory developments, governmental or political shifts, policies and related interpretation, action from policymakers and the wider industry, advances in technology such as battery storage, industry-wide investment, sufficient packaging
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7 more
Our performance is subject to economic conditions and their impact on levels of discretionary consumer spending. Some of the factors that have an impact on discretionary consumer spending include general economic conditions, unemployment, consumer debt, reductions in net worth, residential real estate and mortgage markets, taxation, energy prices, interest rates, consumer confidence, tariffs, and other macroeconomic factors. A deterioration of general macroeconomic conditions, including slower growth or recession,
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storage and computational capacity sufficiently or on commercially reasonable terms, our ability to innovate and introduce new products on our platform may be delayed or compromised, which would have an adverse effect on our growth and business.
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Our failure to share such data in accordance with these regulations may result in government authorities assessing significant fines or penalties against us or shutting down our or Careem’s app in Egypt on either a temporary or indefinite basis.
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consuming regulatory investigations and litigation from other government entities, as well as potentially material fines and penalties imposed by other U.S. and international regulators. Investigations and enforcement actions from such entities, as well as continued negative publicity and an erosion of current and prospective platform users’ trust, could severely disrupt our business.
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Our revenue is dependent on the pricing models we use to calculate consumer prices and Driver earnings. Our pricing models,
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we may be unable to compete effectively or we may be prevented from operating our business in certain jurisdictions. Any of these results could harm our operating results.
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and other effective control systems, could also restrict our future access to the capital markets.
Similar paragraph at 1 of 81 other Industrials companies: PWRRead in the 10-K ↗
New in the latest 10-Q
36 paragraphs in the 10-Q filed Nov 4, 2026 with nothing like them in the 10-Q filed Aug 5, 2026 (at least half the words must differ; new numbers alone do not count). Quoted exactly, grouped by the item heading above them. This is text that changed, not a judgement of how serious it is.
Financial statements and notes
In July 2026, we refined our methodology for allocating network costs across our lines of business and expense categories to more closely reflect actual consumption. This change was a change in estimate and has been applied prospectively beginning July 1,
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2026. As a result of this change, certain network costs previously recorded in cost of revenue are now recorded in operating expenses, with no impact on operating income, net income, or basic or diluted earnings per share.
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As of September 30, 2026, we own approximately 23 % of Lime’s outstanding common stock, which gives us the ability to exercise significant influence. We elected the fair value option for the Lime common stock, which is classified as Level 1 marketable equity security.
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We measure certain derivative instruments at fair value on a recurring basis, including embedded derivatives and a deal-contingent forward contract. These instruments are classified within Level 3 of the fair value hierarchy because their valuation incorporates significant unobservable inputs.
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The fair value of the embedded derivatives is determined using a probability-weighted present value method. The valuation incorporates unobservable inputs, including probability of the contingent events occurring, expected timing of the contingent events and discount rates.
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The fair value of the Deal-Contingent Forward is determined by comparing the contractual foreign exchange rates to market forward rates for future settlement dates, weighted for the expected likelihood and timing of the acquisition closing and discounted to the valuation date. Inputs are primarily observable and include foreign currency forward curves and interest rates.
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Changes in the unobservable inputs used in the Level 3 valuations could result in higher or lower fair value measurements. The effect of changes in individual inputs may be affected by the interrelationship among those inputs and other factors incorporated into the valuation models.
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We also entered into a deal-contingent foreign exchange forward transaction (the "Deal-Contingent Forward") to manage the risk of variability in foreign exchange rates related to the euro-denominated purchase price of Delivery Hero. The Deal-Contingent
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Forward was derived based on a variable forward rate, with settlement contingent upon the closing of the Delivery Hero Transaction. Although the Deal-Contingent Forward was an effective economic hedge, it did not qualify for hedge accounting. The Deal-Contingent Forward is classified as a Level 3 instrument within the fair value hierarchy.
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We also have embedded derivatives from our investments, which are classified within Level 3 of the fair value hierarchy.
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We designate foreign currency denominated debt as net investment hedges to hedge the foreign currency risks related to our equity method investments in foreign currencies. Net investment hedge amounts included in the assessment of hedge effectiveness are recognized within cumulative translation adjustment in AOCI. As of September 30, 2026, the notional amount of foreign currency debt designated as net investment hedge is $ 3.4 billion.
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The proceeds of any loans under the term loan credit agreement will be used to finance the takeover offer, to provide funding for related transactions, to refinance certain indebtedness of Delivery Hero and for the payment of related transaction costs. Loans under the term loan credit agreement will bear interest at EURIBOR plus an applicable margin. The term loan credit agreement is unsecured and is not guaranteed by any subsidiary of Uber, and contains certain customary covenants restricting our and certain of our subsidiaries' ability to incur liens, certain of our subsidiaries' ability to incur debt, and our ability to undergo certain fundamental changes, as well as a financial covenant. The term loan credit agreement also contains customary events of default.
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As of September 30, 2026, no funds have been drawn under the bridge and term loan credit agreement, and we were in compliance with all covenants in the bridge and term loan credit agreement.
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On July 31, 2026, we acquired an additional ownership interest in Careem Technologies, resulting in an approximately 60 % ownership interest. The acquisition provided us control of the entity and we began consolidating its results on the acquisition date. The acquisition will further integrate Careem Technologies’ delivery and payments offerings with our operations in the Middle East.
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e& retained an approximately 40 % non-controlling interest in Careem Technologies following the acquisition. The non-controlling interest is classified as redeemable non-controlling interest. See Note 13 - Non-Controlling Interests for additional information.
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On September 15, 2026, we issued € 4.5 billion aggregate principal amount of Euro-denominated Senior Notes in five tranches maturing September 2029 through September 2046, collectively referred to as the “Euro Senior Notes.” We received net proceeds of approximately € 4.5 billion, or $ 5.2 billion based on the exchange rate on the settlement date, after underwriting discounts and offering expenses. We intend to use the net proceeds for general corporate purposes.
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The indenture governing the Euro Senior Notes contains customary covenants that, subject to exceptions and qualifications, limit our and certain of our subsidiaries' ability to create certain liens, enter into certain sale-and-leaseback transactions, and our ability to consolidate or merge with another entity or transfer all or substantially all of our and our subsidiaries' assets. The indenture does not contain financial maintenance covenants or a general restriction on our ability to incur additional indebtedness.
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The Euro Senior Notes are denominated in euros, which is a currency other than our functional currency. The carrying amounts of the Euro Senior Notes are remeasured into U.S. dollars using the exchange rate in effect at each reporting date. Foreign currency transaction gains and losses resulting from remeasurement are included in foreign currency exchange gains (losses), net within other income (expense), net. We designated certain portion of the Euro Senior Notes as net investment hedges to hedge the foreign currency risks related to our equity method investments in foreign currencies. Refer to Note 2 - Financial Instruments for further information.
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The Credit Agreement provides that we may obtain, subject to the satisfaction of customary conditions, loans in U.S. Dollars or certain alternate currencies. Proceeds from any borrowings under the Credit Agreement may be used for general corporate purposes. The Credit Agreement is unsecured and is not guaranteed by our subsidiaries. Loans under the Credit Agreement will bear interest, at the option of the Company, at either the term SOFR rate (determined in accordance with the Credit Agreement) plus an applicable margin or the base rate (determined in accordance with the Credit Agreement) plus an applicable margin. Loans denominated in alternative currencies will bear interest at the applicable alternative currency rate plus an applicable margin.
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Income before income taxes and income/loss from equity method investments $ 2,620
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Income before income taxes and income/loss from equity method investments $ 5,509
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Income before income taxes and income/loss from equity method investments $ 4,628
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On November 3, 2026, the High Court of Australia ruled against us in our challenge to New South Wales (“NSW”) payroll tax assessments for July 2014 through June 2020. Given the unprecedented nature of this ruling, we evaluated the impact to other relevant Australian states and territories. The amount accrued for this matter is recorded within accrued and other current liabilities on the condensed consolidated balance sheet as of September 30, 2026.
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Effective July 1, 2026, we implemented a change in our methodology for allocating network costs across our lines of business and expense categories to more closely reflect actual consumption. As a result of this change, certain network costs previously recorded in cost of revenue are now recorded in operating expenses.
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least the next 12 months. We intend to continue to evaluate and may, in certain circumstances, take preemptive action to preserve liquidity.
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The proceeds of any loans under the term loan credit agreement will be used to finance the takeover offer, to provide funding for related transactions, to refinance certain indebtedness of Delivery Hero and for the payment of related transaction costs. Loans under the term loan credit agreement will bear interest at EURIBOR plus an applicable margin. The term loan credit agreement is unsecured and is not guaranteed by any subsidiary of Uber, and contains certain customary covenants restricting our and certain of our subsidiaries' ability to incur liens, certain of our subsidiaries' ability to incur debt, and our ability to undergo certain fundamental changes, as well as a financial covenant. The term loan credit agreement also contains customary events of default.
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As of September 30, 2026, no funds have been drawn under the bridge and term loan credit agreement, and we were in compliance with all covenants in the bridge and term loan credit agreement.
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On September 15, 2026, we issued €4.5 billion aggregate principal amount of Euro-denominated Senior Notes in five tranches maturing September 2029 through September 2046. We received net proceeds of approximately €4.5 billion, or $5.2 billion based on the exchange rate on the settlement date, after underwriting discounts and offering expenses. We intend to use the net proceeds for general corporate purposes.
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On November 3, 2026, the High Court of Australia ruled against us in our challenge to New South Wales (“NSW”) payroll tax assessments for July 2014 through June 2020. Given the unprecedented nature of this ruling, we evaluated the impact to other relevant Australian states and territories. The amount accrued for this matter is recorded within accrued and other current liabilities on the condensed consolidated balance sheet as of September 30, 2026.
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Additionally, we have capital funding commitments and vehicle offtake commitments with various partners contingent upon the achievement of specified technical and operational milestones. We anticipate that part of these offtake commitments will transition to third-party financing structures over time.
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Controls and procedures
We maintain disclosure controls and procedures that are designed to provide reasonable assurance that information required to be
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Risk Factors
our business practices, and negative publicity. In addition, we could incur substantial expense and possible loss of revenue if competitors file additional lawsuits or other claims challenging these practices.
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Share sales and buybacks
In September 2026, we issued 902,556 shares of our common stock to holders of Careem Convertible Notes who elected to convert the balance of such notes to common stock at a conversion price of $55 per share. The shares were exempt from registration pursuant to Regulation S of the Securities Act.
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Other information
On November 1, 2026, as part of its periodic review of the governing documents of the Company, our Board of Directors adopted Amended and Restated Bylaws (the “Bylaws”) to remove a tie-breaking vote provision. The foregoing description is qualified in its entirety by reference to the full text of the Bylaws, which are attached hereto as Exhibit 3.2.
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Item 6
No. Herewith Form File Number Exhibit Filing Date ─────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────── 3.1 Amended and Restated Certificate of Incorporation of the Registrant. 10-Q 001-38902 3.1 August 6, 2024 3.2 Amended and Restated Bylaws of the Registrant. X 4.1 Third Supplemental Indenture, dated as of September 15, 2026, by and between Uber Technologies, Inc. and U.S. Bank Trust Company, National Association. 8-K 001-38902 4.1 September 15, 2026 4.2 Form of Notes (included in Exhibit 4.1 above). 8-K 001-38902 4.2 September 15, 2026 10.1+ Term Loan Credit Agreement, dated as of August 6, 2026, by and among Uber Technologies, Inc., as borrower, the lenders party thereto and Morgan Stanley Senior Funding, Inc., as administrative agent. 8-K 001-38902 10.1 August 7, 2026 10.2+ Amendment No. 1 to Bridge Credit Agreement, dated as of August 6, 2026, by and among Uber Technologies, Inc., as borrower, the lenders party thereto and Morgan Stanley Senior Funding, Inc., as administrative agent. 8-K 001-38902 10.2 August 7, 2026 10.3+ Credit Agreement, dated as of August 6, 2026, by and among Uber Technologies, Inc., as borrower, the lenders party thereto, Bank of America, N.A., as administrative agent and an L/C issuer, and the other L/C issuers party thereto. 8-K 001-38902 10.3 August 7, 2026 10.4 Amended and Restated 2019 Executive Severance Plan X 31.1 Certification of the Principal Executive Officer pursuant to Rules 13a-14(a) and 15d-14(a) under the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. 31.2 Certification of the Principal Financial Officer pursuant to Rules 13a-14(a) and 15d-14(a) under the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. 32.1* Certifications of the Principal Executive Officer and Principal Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002. 101. INS XBRL Instance Document - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document. 101. SCH XBRL Taxonomy Extension Schema Document. 101. CAL XBRL Taxonomy Extension Calculation Linkbase Document. 101. DEF XBRL Taxonomy Extension Definition Linkbase Document. 101. LAB XBRL Taxonomy Extension Labels Linkbase Document. 101. PRE XBRL Taxonomy Extension Presentation Linkbase Document. 104 Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101).
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+ Pursuant to Item 601(a)(5) of Regulation S-K promulgated by the SEC, certain schedules and attachments to this exhibit have been omitted because they do not contain information material to an investment or voting decision and that information is not otherwise disclosed in the exhibit.
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The 10-Q's risk factors against the 10-K
Item 1A of the 10-Q filed Nov 4, 2026 against Item 1A of the 10-K filed Feb 13, 2026.
A 10-Q repeats only the risks that changed, so a 10-K paragraph that is missing from it is not counted as removed.
Added is a paragraph with nothing like it in the 10-K, Reworded a sentence that is in both with several words changed,
Quiet changes a sentence in both where one to four words changed and one is a hedge or a modal
(cut words struck through, new words highlighted and underlined).
Text on the page, not a score; each links to the filing at sec.gov.
Added10-Q 2026-11-04 vs 10-K 2026-02-13
that offer their own delivery and/or take-away, meal kit delivery services, grocery delivery services, and traditional grocers.
Added10-Q 2026-11-04 vs 10-K 2026-02-13
• reduced or varied protection for intellectual property rights in some markets.
Added10-Q 2026-11-04 vs 10-K 2026-02-13
In addition, establishing the proper infrastructure to ensure that we receive the correct service fee on cash trips is complex, and has in the past meant and may continue to mean that we cannot collect the entire service fee for certain of our cash-based trips. We
Added10-Q 2026-11-04 vs 10-K 2026-02-13
In addition, we are currently involved in litigation in a number of the jurisdictions in which we operate. We initiated some of
Added10-Q 2026-11-04 vs 10-K 2026-02-13
our business practices, and negative publicity. In addition, we could incur substantial expense and possible loss of revenue if competitors file additional lawsuits or other claims challenging these practices.
Reworded10-Q 2026-11-04 vs 10-K 2026-02-13
If we fail to successfully maintain our brand in the current or future competitive environment or if events occur in the future which negatively affect public perception of our company, our brand and reputation would be further damaged and our business may suffer.If we fail to offer autonomous vehicle technologies on our platform at competitive scale or fail to offer such technologies or scale on our platform before our competitors, or if such technologies fail to perform as expected, are inferior to those offered by our competitors, or are perceived as less safe than those offered by competitors or non-autonomous vehicles, our financial performance and prospects would be adversely impacted. suffer.
Reworded10-Q 2026-11-04 vs 10-K 2026-02-13
In addition, if we are required to classify Drivers as employees, workers or quasi-employees, this may impact our current financial statement presentation including revenue, cost of revenue, incentives and promotions as further described in our significant and critical accounting policies in the section titled “Critical Accounting Estimates” included in Part II, I, Item 7 2 of this Annual Quarterly Report on Form 10-K 10-Q and Note 1 in the section titled “Notes to the Condensed Consolidated Financial Statements” included in Part II, I, Item 8 1 of this Quarterly Report on Form 10-Q as well as our Annual Report on Form 10-K. 10-K for the year ended December 31, 2025.
Reworded10-Q 2026-11-04 vs 10-K 2026-02-13
As a result of certain divestitures, we are have or have been contractually restricted from competing with our current or former minority-owned entities with respect to certain aspects of our business, including in Southeast Asia through one year after we dispose of all interests in with respect to Grab, and the Middle East, North Africa and Pakistan through two years after we dispose of all interests in with respect to Careem Technologies, while our minority-owned entities are not necessarily restricted from competing with us anywhere in the world.
Reworded10-Q 2026-11-04 vs 10-K 2026-02-13
Public responses to our safety reports or any future safety reports or similar public reporting of safety incidents claimed to have occurred on our platform, which may include disclosure of reports provided to regulators and other government authorities, as well as public responses to any third-party assessments of our civil rights impact, may continue to result in positive and negative media coverage, increased regulatory scrutiny, and litigation, and could adversely affect our reputation with platform users.
Reworded10-Q 2026-11-04 vs 10-K 2026-02-13
Additionally, we may not have adequate Driver supply as Drivers may opt out of our platform given the loss of flexibility under an employment model, and we may not be able to hire a majority of the Drivers currently using our platform.
Reworded10-Q 2026-11-04 vs 10-K 2026-02-13
If iOS users do not grant us such permission, our ability to target those users for advertisements and to measure the effectiveness of such advertisements may be adversely affected, which could decrease the effectiveness of our advertising, and increase our costs to acquire and engage users on our platform.
Reworded10-Q 2026-11-04 vs 10-K 2026-02-13
We are currently party to various legal and regulatory matters that have arisen in the normal course of business and include, among others, alleged independent contractor misclassification claims, Fair Credit Reporting Act (“FCRA”) claims, alleged background check violations, pricing and advertising claims, unfair competition claims, intellectual property claims, employment discrimination and other employment-related claims, Americans with Disabilities Act, (“ADA”) claims, data and privacy claims, securities claims, antitrust claims, personal injury claims, claims related to safety practices, challenges to regulations, and other matters.
Reworded10-Q 2026-11-04 vs 10-K 2026-02-13
Furthermore, our pricing model has been the subject of litigation and regulatory inquiries related to, among other things, the calculation of and statements regarding consumer prices and Driver earnings (including rates, fees, surcharges, and tolls), as well as the use of surge pricing during emergencies and natural disasters.
Reworded10-Q 2026-11-04 vs 10-K 2026-02-13
Reworded10-Q 2026-11-04 vs 10-K 2026-02-13
A deterioration of general macroeconomic conditions, including slower growth or recession, inflation and higher interest rates, changes in labor market dynamics, or decreases in consumer spending power may harm our results of operations.
Reworded10-Q 2026-11-04 vs 10-K 2026-02-13
There are also a number of companies developing and introducing autonomous vehicles and technologies that either are competing with us or may compete with us in the future, including Alphabet (Waymo), Amazon (Zoox), and Tesla.
Reworded10-Q 2026-11-04 vs 10-K 2026-02-13
Any such remedies could result in additional competition in some or all markets. markets, restrictions on our operations, increased expenses or decreased revenue or other negative effects on our operational and financial performance.
The first 18 of 40 are shown (at most 12 of each type).
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