v3.25.4
Segment Information and Geographic Information
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Segment Information and Geographic Information
Note 13 – Segment Information and Geographic Information
We determine our operating segments based on how the CODM, our Chief Executive Officer, manages the business, allocates resources, makes operating decisions and evaluates operating performance.
As of December 31, 2025, our three operating and reportable segments are as follows:
Segment
Description
Mobility

Mobility products connect consumers with Drivers who provide rides in a variety of vehicles, such as cars, auto rickshaws, motorbikes, minibuses, or taxis. Mobility also includes activity related to our financial partnerships products and advertising.
DeliveryDelivery offerings allow consumers to search for and discover local restaurants, order a meal, and either pick-up at the restaurant or have the meal delivered. In certain markets, Delivery provides offerings for grocery, alcohol, and convenience store delivery as well as select other goods. We refer to the grocery, alcohol, convenience and retail categories collectively as Grocery & Retail. Delivery also includes advertising.
Freight

Freight connects Carriers with Shippers on our platform, and gives Carriers upfront, transparent pricing and the ability to book a shipment. Freight also includes transportation management and other logistics services offerings.
For information about how our reportable segments derive revenue, refer to Note 1 – Description of Business and Summary of Significant Accounting Policies.
Our segment operating performance measure is segment Adjusted EBITDA. The CODM uses segment Adjusted EBITDA to evaluate segment operating performance, generate future operating plans, and make strategic decisions. The CODM does not evaluate operating segments using asset information and, accordingly, we do not report asset information by segment. Segment Adjusted EBITDA excludes non-cash items or items that management does not believe are reflective of our ongoing core operations (as shown in the table below).
The following table provides information about our segments and a reconciliation to income (loss) before income taxes and income (loss) from equity method investments (in millions):
Year Ended December 31, 2023
MobilityDeliveryFreightTotal
Revenue$19,832 $12,204 $5,245 $37,281 
Platform Participant direct transaction costs (1)
(5,130)(5,329)(4,714)(15,173)
Other (2)
(9,739)(5,369)(595)(15,703)
Segment Adjusted EBITDA$4,963 $1,506 $(64)6,405 
Reconciling items:
Corporate G&A and Platform R&D (3)
(2,353)
Depreciation and amortization(823)
Stock-based compensation expense(1,935)
Legal, non-income tax, and regulatory reserve changes and settlements (4)
(9)
Goodwill and asset impairments/loss on sale of assets(84)
Acquisition, financing and divestitures related expenses(36)
Loss on lease arrangement, net(4)
Restructuring and related charges(51)
Income from operations1,110 
Interest expense(633)
Interest income484 
Other income (expense), net1,360 
Income before income taxes and income (loss) from equity method investments$2,321 
Year Ended December 31, 2024
MobilityDeliveryFreightTotal
Revenue$25,087 $13,750 $5,141 $43,978 
Platform Participant direct transaction costs (1)
(6,884)(5,591)(4,652)(17,127)
Other (2)
(11,706)(5,688)(563)(17,957)
Segment Adjusted EBITDA$6,497 $2,471 $(74)8,894 
Reconciling items:
Corporate G&A and Platform R&D (3)
(2,410)
Depreciation and amortization(711)
Stock-based compensation expense(1,796)
Legal, non-income tax, and regulatory reserve changes and settlements (4)
(1,123)
Goodwill and asset impairments/loss on sale of assets(3)
Acquisition, financing and divestitures related expenses(25)
Loss on lease arrangement, net(2)
Restructuring and related charges(25)
Income from operations2,799 
Interest expense(523)
Interest income721 
Other income (expense), net1,128 
Income before income taxes and income (loss) from equity method investments$4,125 
Year Ended December 31, 2025
MobilityDeliveryFreightTotal
Revenue$29,670 $17,248 $5,099 $52,017 
Platform Participant direct transaction costs (1)
(8,683)(7,097)(4,583)(20,363)
Other (2)
(13,088)(6,579)(549)(20,216)
Segment Adjusted EBITDA$7,899 $3,572 $(33)11,438 
Reconciling items:
Corporate G&A and Platform R&D (3)
(2,708)
Depreciation and amortization(719)
Stock-based compensation expense(1,826)
Legal, non-income tax, and regulatory reserve changes and settlements (4)
(564)
Goodwill and asset impairments/loss on sale of assets(2)
Acquisition, financing and divestitures related expenses(43)
Loss on lease arrangement, net(2)
Restructuring and related charges(9)
Income from operations5,565 
Interest expense(440)
Interest income743 
Other income (expense), net(68)
Income before income taxes and income (loss) from equity method investments$5,800 
(1) Platform Participant direct transaction costs primarily consist of (i) costs paid directly to Platform Earners on our platform recorded in cost of revenue, excluding depreciation and amortization; and (ii) incentives to end-users recorded in sales and marketing.
(2) Other primarily consists of non-Platform Participant costs, including: (i) trip insurance, payment card fees and bank fees, customer support and technology costs; and (ii) other operating costs, primarily related to employee headcount costs (excluding stock-based compensation), external contractor expenses and brand marketing as well as (iii) costs related to bringing new Platform Earners and new Platform end-users to the Platform recorded in costs and expenses.
(3) Includes costs that are not directly attributable to our reportable segments. Corporate G&A also includes certain shared costs such as finance, accounting, tax, human resources, information technology and legal costs. Platform R&D also includes mapping and payment technologies and support and development of the internal technology infrastructure. Our allocation methodology is periodically evaluated and may change.
(4) Legal, non-income tax, and regulatory reserve changes and settlements are primarily related to certain significant legal proceedings or governmental investigations related to worker classification definitions, or tax agencies challenging our non-income tax positions. These matters have limited precedent, cover extended historical periods and are unpredictable in both magnitude and timing, therefore are distinct from normal, recurring legal, non-income tax and regulatory matters and related expenses incurred in our ongoing operating performance.
Geographic Information
Revenue by geography is based on where the trip or shipment was completed or meal delivered. Long-lived assets, net includes property and equipment, net and operating lease right-of-use assets as well as the same asset class included within assets held for sale on the consolidated balance sheets. The following tables set forth revenue and long-lived assets, net by geographic area as of and for the years ended December 31, 2023, 2024, and 2025 (in millions):
Year Ended December 31,
202320242025
United States and Canada ("US&CAN")$20,436 $23,618 $26,469 
Latin America ("LatAm")2,512 2,795 3,327 
Europe, Middle East and Africa ("EMEA")9,904 12,529 16,364 
Asia Pacific ("APAC")4,429 5,036 5,857 
Total Revenue$37,281 $43,978 $52,017 

Year Ended December 31,
202320242025
United States$18,620 $21,429 $23,771 
United Kingdom
6,522 8,373 10,609 
All other countries12,139 14,176 17,637 
Total Revenue$37,281 $43,978 $52,017 

As of December 31,
20242025
United States$2,757 $2,572 
All other countries353 439 
Total long-lived assets, net$3,110 $3,011