Uber Technologies Inc. (UBER): Communacopia + Technology 2026 — Key Takeaways

Research evidence excerpt

Equity Research

10 September 2026 | 3:13PM EDT

Uber Technologies Inc. (UBER): Communacopia + Technology 2026 —

Key Takeaways

Eric Sheridan

+1(917)343-8683 |

Goldman Sachs & Co. LLC

Julia Fein-Ashley

Presenters: We hosted CEO Dara Khosrowshahi at the Communacopia + Technology

Conference.

Bottom Line: We highlight a few key takeaways from our conversation. 1)

management remains focused on scaling supply across an array of

products/services; 2) the company continues to see solid Uber One member growth;

3) optimism around the opportunity that exists with autonomous vehicles; & 4) solid

growth within the grocery & retail category - with management also noting that the

category remains in the early stages of scaling.

Goldman Sachs & Co. LLC

Emma Huang

+1(212)902-7229 |

Goldman Sachs & Co. LLC

Key Takeaways

Strategic Priorities. The company continues to execute well against driving growth

on the broader platform through: 1) scaling supply & demand across an array of

products/services (mobility & delivery); 2) increasing presence within sparse markets

(where there is a profitable, scalable growth opportunity to drive further penetration

into markets) - which are growing 1.5x faster than core markets; 3) executing against

their barbell strategy.

Uber One. Uber One subscribers have continued to grow (+50% YoY), with 50mm+

members now accounting for ~50% of Uber’s total bookings. Going forward, the

company believes that there is additional room to scale members through: 1) making

the membership program more rich (through the hookup of loyalty programs); & 2)

enriching the offering on the core platform enriching the offering (i.e., priority

dispatch, complimentary upgrades, etc.).

Restructuring. Recently, Uber announced the restructuring of ~10% of full time staff

to drive faster decision making. Management noted that the restructuring was aimed

specifically at reducing the number of microteams (where managers would manage

1-3 people), and driving experienced managers to run teams of 7-15 people.

Autonomous Vehicles. Management reiterated their view that autonomous vehicles

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