Net Income (Loss) Per Share

12 Months Ended

Dec. 31, 2024

Note 12 – Net Income (Loss) Per Share

Basic net income (loss) per share is computed by dividing net income (loss) by the weighted-average number of common shares outstanding for the periods presented. Diluted net income (loss) per share is computed by giving effect to all potential weighted average dilutive common stock. For diluted net income (loss) per share, the dilutive effect of outstanding awards is reflected by application of the treasury stock method and convertible securities by application of the if-converted method, as applicable.

We take into account the effect on consolidated net income (loss) per share of dilutive securities of entities in which we hold equity interests that are accounted for using the equity method.

The following table sets forth the computation of basic and diluted net income (loss) per share attributable to common stockholders (in millions, except share amounts which are reflected in thousands, and per share amounts):


	Year Ended December 31,
	2022		2023		2024
Basic net income (loss) per share:
Numerator
Net income (loss) including non-controlling interests	$	(9,138)	$	2,156	$	9,845
Net income (loss) attributable to non-controlling interests, net of tax	3		269		(11)
Net income (loss) attributable to common stockholders	$	(9,141)	$	1,887	$	9,856
Denominator
Basic weighted-average common stock outstanding	1,972,131		2,035,651		2,094,602
Basic net income (loss) per share attributable to common stockholders (1)	$	(4.64)	$	0.93	$	4.71
Diluted net income (loss) per share:
Numerator
Net income (loss) attributable to common stockholders	$	(9,141)	$	1,887	$	9,856
Assumed net loss attributable to Uber Technologies, Inc. upon redemption of Freight Holding convertible common shares, non-controlling interest	(41)		(62)		(49)

Interest expense, amortization of debt discount and issuance costs of 2025 Convertible Notes	—		2		—
Diluted net income (loss) attributable to common stockholders	$	(9,182)	$	1,827	$	9,807
Denominator
Number of shares used in basic net income (loss) per share computation	1,972,131		2,035,651		2,094,602
Weighted-average effect of potentially dilutive securities:
Stock options	—		9,989		4,987
RSUs	—		25,671		35,936
Assumed common shares issued from outstanding RSAs	—		139		37
Warrants	—		73		73
Common shares issued for ESPP	—		627		512
Assumed redemption of Freight Holding convertible common shares, non-controlling interest	2,797		4,301		1,701
Assumed redemption of Freight Series A contingently redeemable preferred stock, non-controlling interest	—		—		10,339
2025 Convertible Notes	—		12,784		—
Careem Notes	—		2,547		2,321
Diluted weighted-average common stock outstanding	1,974,928		2,091,782		2,150,508
Diluted net income (loss) per share attributable to common stockholders (1)	$	(4.65)	$	0.87	$	4.56

(1) Per share amounts are calculated using unrounded numbers and therefore may not recalculate.

The following potentially dilutive outstanding securities were excluded from the computation of diluted net income (loss) per share because their effect would have been anti-dilutive for the periods presented, or issuance of such shares is contingent upon the

satisfaction of certain conditions which were not satisfied by the end of the period (in thousands):


	Year Ended December 31,
	2022	2023	2024
Freight Series A contingently redeemable preferred stock	30,458	13,430	—
Convertible notes	18,250	—	—
RSUs	98,167	4,534	18,603
Stock options	20,039	207	3,009
Common stock subject to repurchase	2,606	—	—
Shares committed under ESPP	3,878	867	—
Warrants to purchase common stock	73	—	—
Total	173,471	19,038	21,612