Uber Technologies, Inc 8-K

What Happened
Uber Technologies, Inc. filed an 8‑K (Jan 12, 2026) announcing that, beginning with Q1 2026 reporting, it will replace its prior Adjusted EBITDA metric with three new non‑GAAP measures: Non‑GAAP Operating Income, Non‑GAAP Net Income and Non‑GAAP EPS. The company also will change its segment measure from Segment Adjusted EBITDA to Segment Operating Income. Uber provided reconciliations and select historical data for the seven consecutive quarters ended Sept. 30, 2025 and said the change brings its non‑GAAP measures closer to GAAP by including depreciation, amortization (excluding amortization of acquired intangibles) and stock‑based compensation that were previously excluded. Uber also reclassified interest income to be presented separately on its consolidated statements of operations (effective in the Form 10‑K for year ended Dec. 31, 2025).

Key Details

• Effective timing: new metrics apply starting Q1 2026; Uber supplied unaudited reconciliations for the seven quarters ended Sept. 30, 2025 (no restatement of GAAP results).
• Metric change: replaces Adjusted EBITDA with Non‑GAAP Operating Income, Non‑GAAP Net Income and Non‑GAAP EPS; Segment Adjusted EBITDA → Segment Operating Income; CODM remains the CEO.
• Example (Q3 2025): GAAP income from operations $1,113M vs Non‑GAAP Operating Income $1,675M; GAAP net income attributable to Uber $6,626M vs Non‑GAAP Net Income $1,389M; GAAP diluted EPS $3.11 vs Non‑GAAP EPS $0.65.
• Presentation change: interest income will be reported separately on the condensed consolidated statements of operations beginning in the 2025 Form 10‑K.

Why It Matters
These changes affect how Uber reports and headlines its operating performance. By including depreciation, certain amortization and stock‑based compensation, the new Non‑GAAP Operating Income is closer to GAAP and may produce different non‑GAAP earnings results than under the prior Adjusted EBITDA presentation. Investors should note the company provided historical reconciliations (so past comparisons are available) and that GAAP vs. non‑GAAP figures can diverge materially in quarters with large tax or other one‑time items. The filing does not restate prior GAAP results but changes the company’s primary non‑GAAP and segment measures used for performance discussion and investor comparisons.