Uber Technologies, Inc. stock research
FY2025 Q4
Uber Technologies (UBER) Gross Margin — Quarter Ended Dec 31, 2025
Revenue, gross profit, and cost of revenue all increased compared to the previous quarter and the same quarter one year earlier. The gross margin was unchanged from the prior quarter and improved relative to the year-ago period.
Gross margin takeaway
Quarter ended Dec 31, 2025 · FY2025 Q4
Revenue, gross profit, and cost of revenue all increased compared to the previous quarter and the same quarter one year earlier. The gross margin was unchanged from the prior quarter and improved relative to the year-ago period.
- The strongest observable margin trend is the year-over-year improvement in gross margin, as the share of revenue consumed by cost of revenue decreased slightly.
- Compared to the prior quarter, revenue, gross profit, and cost of revenue were all higher, while gross margin held steady. Against the same quarter last year, all metrics were higher, with gross margin showing an improvement.
Gross margin snapshot
The selected quarter's reported revenue, gross profit, direct costs, and margin comparisons.
Gross margin
33.5%
Gross profit
$4.8B
Revenue
$14.4B
Cost of revenue
$9.6B
Quarter-over-quarter change
+0.0 pts
Year-over-year change
+0.5 pts
Quarterly gross margin trend
A four-quarter view of the revenue and direct-cost bridge behind gross margin.
| Period | Revenue | Gross profit | Cost of revenue | Gross margin |
|---|---|---|---|---|
| Mar 31, 2025 | $11.5B | $3.8B | $7.7B | 33.1% |
| Jun 30, 2025 | $12.7B | $4.2B | $8.5B | 33.0% |
| Sep 30, 2025 | $13.5B | $4.5B | $9.0B | 33.5% |
| Dec 31, 2025 | $14.4B | $4.8B | $9.6B | 33.5% |
Quarterly comparisons
Compare the selected margin with the preceding quarter and the same fiscal quarter one year earlier.
Previous-quarter change
Sep 30, 2025
+0.0 pts
Year-over-year change
Dec 31, 2024
+0.5 pts
What the margin says
Filing-constrained interpretation of margin direction, comparisons, and what to monitor next.
The strongest observable margin trend is the year-over-year improvement in gross margin, as the share of revenue consumed by cost of revenue decreased slightly.
Compared to the prior quarter, revenue, gross profit, and cost of revenue were all higher, while gross margin held steady. Against the same quarter last year, all metrics were higher, with gross margin showing an improvement.
Monitor the trend in cost of revenue relative to revenue, as the gross margin has shown stability sequentially and improvement year-over-year.