Uber just hit an impressive 50M milestone

Fifty million is a number worth pausing on.

That’s how many people now pay for Uber One, the company’s subscription program, and it says a lot about where Uber Technologies is headed.

CEO Dara Khosrowshahi called it a “unique advantage” over competitors during the company’s first-quarter 2026 earnings call on May 6. 

Uber One members spend three times as much as non-members, and retention rates are higher.

Moreover, the program now drives more than 50% of total platform bookings, making it the backbone of the business rather than a loyalty perk. 

Uber One is a key growth driver

Uber One ended 2024 with 30 million members, representing a 20-million-member increase in 15 months. 

Uber (UBER) has been stacking benefits into the program faster than most people realize.

Members are exempt from delivery fees, earn credits on Mobility rides, and now receive 10% back in Uber credits on hotel bookings through a new partnership with Expedia. Moreover, select hotels offer an additional 20% off, from a rotating list of 10,000 properties.

Dara Khosrowshahi, CEO, Uber is bullish on long-term growth

Leigh Vogel/Getty Images

Khosrowshahi said on the call:

“On a long weekend in New York City, that’s getting $100 back, which pays for your entire Uber One membership for the year.”

The company also plans to expand membership perks globally, meaning benefits will now follow travelers beyond their home cities.

Related: Uber rolls out a genius new perk customers will love

That’s a big deal given that more than 1.5 billion trips occurred outside users’ home cities last year alone.

Uber’s Q1 numbers show robust growth

In Q1 2026, Uber reported total gross bookings of $204.4 billion on a last-twelve-months basis.

For the full year 2025, total revenue came in at $52 billion, up 18.3% from the prior year.

Breaking it down by segment for 2025: Mobility revenue stood at $29.7 billion, followed by delivery at $17.2 billion and freight at $5.1 billion. 

Analysts estimateEBITDA margins expanding from 16.8% in 2025 to roughly 24.3% in 2030, with free cash flow projected at $17.7 billion, up from $9.8 billion last year.

Non-GAAP earnings per share (EPS) rose44% year-over-year in Q1, more than double the rate of bookings growth. That kind of operating leverage is what long-term investors want to see.

Uber also bought back a record $3 billion of its own stock during the quarter—a signal that management believes the shares are undervalued.

Autonomous vehicles, AI, and more

Uber now has more than 30 autonomous vehicle (AV) partners across its Mobility and Delivery segments. 

AV trips grew more than 10 times year-over-year in Q1. Uber expects to be live in up to 15 cities by year-end, including U.S. deployments.

Khosrowshahi also addressed a concern investors have raised: will AI-powered personal agents eventually route customers entirely around Uber’s app?

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His answer was measured but confident.

“As long as we are building terrific core products, we think we will get more than our fair share of consumers coming direct,” he said, drawing a parallel to how travel metasearch ultimately benefited large, consolidated platforms like Expedia and Booking.com.

Artificial intelligence is also reshaping how Uber operates internally. About 10% of code commits are now being built by autonomous AI agents. 

The company upped its AI spending budget mid-year after acknowledging it had underestimated the technology’s impact.

Wall Street is watching closely. Consensus estimates project Uber’s EPS to grow from $3.30 in 2026 to $6.87 by 2030, representing a compound annual growth rate of nearly 23%.

With 50 million members locking in loyalty and spending habits, the foundation for that kind of growth looks increasingly solid.

Related: Uber gives investors good news despite disappointing miss

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