Uber Technologies, Inc (UBER) Risk Factors

Recent key developments

Concrete developments — dated events, named agreements and instruments, legal proceedings — that Uber Technologies, Inc surfaced in its latest filing.

• More than 150,000 U.S. Drivers who entered into arbitration agreements with us have filed or expressed an intention to file arbitration demands asserting classification claims
• California Assembly Bill 5 became effectiveJanuary 1, 2020
• California Proposition 22 approved by voters and effective, providing a framework for independent workNovember 2020
• Stipulation to dissolve the California Attorney General's preliminary injunction was grantedApril 2021
• California Supreme Court upheld the constitutionality of Proposition 22
• Massachusetts Attorney General filed a complaint against Uber and Lyft, case resolved with drivers continuing as independent contractorsJuly 2020
• Brazil has a binding judicial case before Brazil's Supreme Court with a hearing expected2026
• French Supreme Court decisions reclassified two UberX Drivers as employees2020 and 2023
• French Supreme Court decisions concluded Drivers were independent contractors under Uber's more recent modelJuly 2025
• Netherlands court ruling that Mobility Drivers are employees within the meaning of the taxi collective bargaining agreementSeptember 2021
• Mexican Congress bill to reclassify mobility and delivery earners making more than one minimum salary a month as employeesDecember 2024
• New Zealand Supreme Court ruling that four drivers are employees while logged into the Uber appNovember 2025
• We formally recognized a UK driver unionMay 2021
• Massachusetts voters approved a ballot initiative allowing drivers to collectively bargain as independent contractors2024
• Acquired Cornershop, a provider of online grocery delivery in several countries including Mexico and Chile
• Acquired The Drizly Group, Inc. to expand Delivery offering to alcoholOctober 2021
• Acquired Transplace through subsidiary Uber Freight, expanding transportation management expertiseNovember 2021
• In September 2022, an attacker accessed certain internal corporate systems, tools and dataSeptember 2022
• Outside actors downloaded personal data of approximately 57 million Drivers and consumers worldwideOctober and November 2016
• Careem disclosed a data security incident allowing access to certain personal information of riders and driversApril 2018
• Uber introduced product changes in California providing Drivers with ride destination, trip distance, and expected fare information, clearer pricing, and preferred Driver selectionJanuary 2020
• European Artificial Intelligence Act came into effectAugust 2024
• California regulation requiring 90% of rideshare fleet vehicle miles traveled to be zero-emission by 2030, with interim targets beginning 2023May 2021
• In December 2018, New York City's Taxi and Limousine Commission implemented a per-mile and per-minute minimum trip payment formula for for-hire drivers, effective February 2019December 2018
• New York City Council voted to approve driver earning rules, licensing requirements, and a one-year freeze on new for-hire vehicle licensesAugust 2018
• San Francisco voters passed a surcharge on ridesharing tripsNovember 2019
• Chicago imposed a surcharge of up to $3 per ridesharing tripJanuary 2020
• Washington state signed a law establishing a minimum pay standard for driversMarch 2022
• Ceased Mobility products in Colombia after a court ruled violation of local competition lawsJanuary 2020
• Re-launched Mobility in Colombia after making changesFebruary 2020
• Appeals Court of Bogota revoked order to block Mobility products, confirmed by Colombia Supreme CourtJune 2020
• Dockless e-bikes and e-scooters business divested to Lime, with continued app availability of such vehiclesMay 2020
• Mexico judicial reform approved establishing elected judges, increasing litigation uncertaintySeptember 2024
• Suspended Mobility products in Barcelona after regional government enacted regulations mandating minimum wait timesJanuary 2019
• Returned to Barcelona via taxis onlyMarch 2021
• Civil lawsuits related to the 2016 Breach
• FTC consent decree requiring a comprehensive privacy program, biennial third-party assessments, and truthfulness about consumer information protection through 2038April 2018
• FTC final settlement exposing the company to penalties for future failure to report security incidentsOctober 2018
• Fines of approximately $1.6 million imposed by UK, Dutch, and French supervisory authoritiesNovember and December 2018
• Settlement with the Office of the New York State Attorney General to enhance data security practicesJanuary 2016
• Stipulated judgments with all 50 U.S. states and the District of Columbia involving payment of $148 million for the 2016 BreachSeptember 2018
• Fines of €2.12 million each on Uber Technologies, Inc. and Uber B.V. by the Italian data protection authorityMarch 2022
• Non-prosecution agreement with the DOJ concerning the 2016 BreachJuly 2022
• GDPR effective with extraterritorial application and fines up to the greater of €20 million or 4% of total worldwide revenueMay 2018
• CCPA effective with statutory damages framework and private rights of actionJanuary 2020
• California Privacy Rights Act passedNovember 2020
• European Commission adequacy decision for the EU-US Data Privacy Framework, which has been challengedJuly 2023
• Ended mandatory arbitration of sexual misconduct claims by platform users and employeesMay 15, 2018
• Putative class actions filed for alleged violation of the Telephone Consumer Protection Act of 1991
• Honolulu, Hawaii passed legislation to cap surge pricing when increased rates exceed the city's maximum fare2018
• Several putative class actions filed in California state and federal courts against the company, its directors, certain officers, and IPO underwriters alleging securities law violations in connection with the IPOSeptember 2019
• In July 2026, executed a bridge credit agreement providing €14.2 billion in commitments for senior unsecured loans for the proposed acquisition of Delivery HeroJuly 2026
• Up to approximately $128 million of Careem Convertible Notes remain subject to future issuanceJune 30, 2026
• As of June 30, 2026, total outstanding indebtedness of $12.6 billion aggregate principal amountJune 30, 2026
• U.S. federal net operating loss carryforwards were $43 million expiring in 2031 and $4.1 billion with unlimited carryoverDecember 31, 2025
• U.S. state net operating loss carryforwards were $7.0 billionDecember 31, 2025
• Foreign net operating loss carryforwards were $20.3 billionDecember 31, 2025
• In 2025, 15% of Mobility Gross Bookings came from trips starting or completed at an airport2025
• Cash-paid trips accounted for approximately 6% of global Gross Bookings in 20252025
• We did not achieve some of our 2025 electrification and waste reduction goals2025
• Company had an accumulated deficit of $8.0 billion as of June 30, 2026June 30, 2026
• As of June 30, 2026, we had approximately 36,600 global employees, of whom approximately 22,000 were located outside the United StatesJune 30, 2026
• As of December 31, 2025, platform available in more than 15,000 cities in over 70 countriesDecember 31, 2025
• Effective July 1, 2020, all payment operations were transitioned to Uber Payments B.V. in EEA countries required by European payments regulationsJuly 1, 2020