Breaking

Uber Freight Posts Record Bookings, But Profitability Remains Distant

Uber Freight reported gross bookings of $1.768 billion in the third quarter, marking a company record and 34% year-over-year growth despite posting a $33 million operating loss. CEO Rebecca Tinucci highlighted strong operational metrics, citing a 36% volume increase in the U.S. market even as industry freight volumes remained relatively flat. Revenue per load climbed 8% annually, while loads per day per head—a key productivity measure in brokerage—rose approximately 10% compared to the prior year period. The adjusted operating loss narrowed 18% compared to third quarter 2025, though sequential results deteriorated from a $24 million loss in the second quarter. Tinucci noted the company invested $17 million in employee liquidity programs and targeted initiatives. Segment operating margin as a percentage of gross bookings improved year-over-year, though it remained in negative territory compared to the prior year period.