Uber (NYSE: UBER) exited 2025 in a significantly different position than it was in just a few years ago. The company is now consistently profitable, generates meaningful free cash flow, and operates with far more discipline than it did during its growth-at-all-costs era.
That's real progress, but it doesn't mean the growth story is over.
The question is no longer whether Uber's business model works. The question now is whether it can build on this momentum -- and the answer will depend on how well it executes across a few critical areas.
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