Form 8-K
8-K — Lyft, Inc.
Accession: 0001628280-26-032102
Filed: 2026-05-07
Period: 2026-05-07
CIK: 0001759509
SIC: 7389 (SERVICES-BUSINESS SERVICES, NEC)
Item: Results of Operations and Financial Condition
Item: Regulation FD Disclosure
Item: Financial Statements and Exhibits
Documents
8-K — lyft-20260507.htm (Primary)
EX-99.1 (lyft-20260331xpressrelease.htm)
GRAPHIC (new-lyftlogo.jpg)
XML — IDEA: XBRL DOCUMENT (R1.htm)
8-K
8-K (Primary)
Filename: lyft-20260507.htm · Sequence: 1
lyft-20260507
false000175950900017595092026-05-072026-05-07
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 7, 2026
Lyft, Inc.
(Exact name of registrant as specified in its charter)
Delaware 001-38846 20-8809830
(State or other jurisdiction
of incorporation) (Commission
File Number) (IRS Employer
Identification No.)
185 Berry Street, Suite 400
San Francisco, California 94107
(Address of principal executive offices, including zip code)
(844) 250-2773
(Registrant's telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class Trading
Symbol Name of each exchange
on which registered
Class A Common Stock, par value of $0.00001 per share LYFT Nasdaq Global Select Market
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2). Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition
On May 7, 2026, Lyft, Inc. (the “Company” or “Lyft”) issued a press release announcing its financial results for the quarter ended March 31, 2026. A copy of the press release is attached as Exhibit 99.1 to this current report on Form 8-K and is incorporated by reference herein.
Item 7.01 Regulation FD Disclosure
On May 7, 2026, Lyft posted supplemental investor materials, including prepared remarks and a slide presentation, on its investor.lyft.com website. Lyft announces material information to the public about Lyft, its products and services and other matters through a variety of means, including filings with the Securities and Exchange Commission, press releases, public conference calls, webcasts, the investor relations section of its website (investor.lyft.com), its X accounts (@lyft and @davidrisher), its Chief Executive Officer’s LinkedIn account (linkedin.com/in/jdavidrisher/), and its blogs (including: lyft.com/blog, lyft.com/hub, and eng.lyft.com) in order to achieve broad, non-exclusionary distribution of information to the public and for complying with its disclosure obligations under Regulation FD.
The information in Items 2.02 and 7.01 of this current report on Form 8-K and the Exhibit 99.1 attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits:
Exhibit
No. Exhibit Description
99.1
Press Release, dated May 7, 2026
104 Cover Page Interactive Data File (formatted as Inline XBRL)
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
LYFT, INC.
Date: May 7, 2026 /s/ Erin Brewer
Erin Brewer
Chief Financial Officer
EX-99.1
EX-99.1
Filename: lyft-20260331xpressrelease.htm · Sequence: 2
Document
Exhibit 99.1
Lyft Reports Strong Q1 2026 Financial Results
Active Riders growth of 17% year over year
Gross Bookings growth of 19% year over year
SAN FRANCISCO, CA, May 7, 2026 - Lyft, Inc. (Nasdaq: LYFT) today announced financial results for the first quarter ended March 31, 2026.
“Our customer-obsessed comeback continues,” said Lyft CEO David Risher. “We delivered on all our financial commitments, grew share in the United States, and deepened our global expansion. Looking ahead, our state-of-the-art Flexdrive AV operation in Nashville sets the stage for a hybrid AV future. Lyft is performing while transforming.”
“We’ve executed another strong quarter with double-digit year-over-year growth across Active Riders and Gross Bookings, while generating over $1 billion in cash for the trailing twelve months,” said CFO Erin Brewer. “These results reflect the strength of our foundation and drives confidence in our growth to accelerate in Q2.”
First Quarter 2026 Financial Highlights
•Gross Bookings of $4.9 billion, up 19% year over year.
•Revenue of $1.7 billion, up 14% year over year.
•Net income of $14.2 million compared to $2.6 million in Q1'25.
◦Net income as a percentage of Gross Bookings of 0.3% compared to 0.1% in Q1'25.
•Adjusted EBITDA up 25% year over year to $132.8 million compared to $106.5 million in Q1'25.
◦Adjusted EBITDA margin as a percentage of Gross Bookings of 2.7% compared to 2.6% in Q1'25.
•Net cash provided by operating activities of $307.7 million compared to $287.2 million in Q1'25.
◦For the trailing twelve months, net cash provided by operating activities was $1.2 billion.
•Free cash flow of $287.3 million compared to $280.7 million in Q1'25.
◦For the trailing twelve months, free cash flow was $1.1 billion, an all-time high.
First Quarter 2026 Operational Highlights
•Active Riders, our leading indicator of growth, was up 17% year over year to 28.3 million, a record Q1 and 6th consecutive quarter of double-digit growth.
•This week, we closed our acquisition of Gett’s UK business, making Lyft one of London’s most comprehensive mobility platforms in Europe’s largest taxi and ride-hail market.
•Announced our Nashville Flexdrive AV operations will open this fall.
•Confirmed our first Baidu vehicles have been secured in the UK.
•Nearly 27% of rides in North America were linked to a partnership, an all-time high, and we have expanded offerings across some of our largest partnerships including Chase, DoorDash, and United Airlines.
Second Quarter 2026 Outlook
•Gross Bookings of approximately $5.30 billion to $5.43 billion, up approximately 18% to 21% year over year.
•Adjusted EBITDA of approximately $160 million to $180 million
◦Adjusted EBITDA margin (calculated as a percentage of Gross Bookings) of approximately 3.0% to 3.3%.
We have not provided the forward-looking GAAP equivalent to our non-GAAP outlook or a GAAP reconciliation as a result of the uncertainty regarding, and the potential variability of reconciling items such as stock-based compensation and income tax. Accordingly, a reconciliation of these non-GAAP guidance metrics to their corresponding GAAP equivalent is not available without unreasonable effort. However, it is important to note that the reconciling items could have a significant
effect on future GAAP results. We have provided historical reconciliations of GAAP to non-GAAP metrics in tables at the end of this release. For more information regarding the non-GAAP financial measures discussed in this earnings release, please see “GAAP to non-GAAP Reconciliations” below.
Financial and Operational Results
Three Months Ended
March 31,
2026 December 31,
2025 March 31,
2025
(in millions, except for percentages)
Active Riders 28.3 29.2 24.2
Rides 236.9 243.5 218.4
Gross Bookings $ 4,946.0 $ 5,074.2 $ 4,162.4
Revenue $ 1,650.5 $ 1,592.7 $ 1,450.2
Net income $ 14.2 $ 2,755.1 $ 2.6
Net income as a percentage of Gross Bookings 0.3 % 54.3 % 0.1 %
Adjusted EBITDA $ 132.8 $ 154.1 $ 106.5
Adjusted EBITDA margin (calculated as a percentage of Gross Bookings) 2.7 % 3.0 % 2.6 %
Net cash provided by operating activities $ 307.7 $ 246.2 $ 287.2
Free cash flow $ 287.3 $ 227.6 $ 280.7
Note: Information on our key metrics and non-GAAP financial measures is also available on our Investor Relations page.
Definitions of Key Metrics
Active Riders
The number of Active Riders is a key indicator of the scale of Lyft’s user community. Lyft defines Active Riders as all unique riders who have taken at least one ride during the quarter. If a ride is requested by another organization or person for the benefit of a rider, that rider is only included in the calculation of Active Riders if the ride is accessible in the rider’s Lyft App.
Rides
Rides represent the level of usage of our multimodal platform. Lyft defines Rides as the total number of rides completed using our multimodal platform that contribute to our revenue. These include any Rides taken through our Lyft App. If multiple riders take a private rideshare ride, including situations where one party picks up another party on the way to a destination, or splits the bill, we count this as a single rideshare ride. Each unique segment of a Shared Ride is considered a single Ride. For example, if two riders successfully match in Shared Ride mode and both complete their Rides, we count this as two Rides. We have largely shifted away from Shared Rides, and now only offer Shared Rides in limited markets. Lyft includes all Rides taken by riders via our Concierge offering, even though such riders may be excluded from the definition of Active Riders unless the ride is accessible in that rider’s Lyft App.
Gross Bookings
Gross Bookings is a key indicator of the scale and impact of our overall platform. Lyft defines Gross Bookings as the total dollar value of transactions including any applicable taxes, tolls and fees, for rides and other offerings provided by Lyft, excluding tips to drivers.
Adjusted EBITDA margin (calculated as a percentage of Gross Bookings)
Adjusted EBITDA margin (calculated as a percentage of Gross Bookings) is calculated by dividing Adjusted EBITDA for a period by Gross Bookings for the same period. For the definition of Adjusted EBITDA, refer to “Non-GAAP Financial Measures”.
Webcast
Lyft will host a webcast today at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) to discuss these financial results and business highlights. Supplemental materials, including management’s prepared remarks, will be available on the Company’s Investor Relations page in advance of the call. To listen to a live audio webcast, please visit our Investor Relations page at https://investor.lyft.com/. The archived webcast will be available on our Investor Relations page shortly after the call.
About Lyft
Whether it’s an everyday commute or a journey that changes everything, Lyft is driven by our purpose: to serve and connect. Founded in 2012, Lyft has grown into a global mobility platform offering a mix of rideshare, taxis, private hire vehicles, executive chauffeur services, car sharing, bikes, and scooters across six continents and thousands of cities. Millions of drivers have chosen to earn on billions of rides - helping to create a more connected world, with transportation options for everyone.
Available Information
Lyft announces material information to the public about Lyft, its products and services and other matters through a variety of means, including filings with the Securities and Exchange Commission, press releases, public conference calls, webcasts, the investor relations section of its website (investor.lyft.com), its X accounts (@lyft and @davidrisher), its Chief Executive Officer’s LinkedIn account (linkedin.com/in/jdavidrisher) and its blogs (including: lyft.com/blog, lyft.com/hub, and eng.lyft.com) in order to achieve broad, non-exclusionary distribution of information to the public and for complying with its disclosure obligations under Regulation FD.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements generally relate to future events or Lyft’s future financial or operating performance. In some cases, you can identify forward looking statements because they contain words such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “going to,” “could,” “intends,” “target,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or the negative of these words or other similar terms or expressions that concern Lyft’s expectations, strategy, priorities, plans or intentions. Forward-looking statements in this release include, but are not limited to, Lyft’s guidance and outlook, including expectations for the second quarter of 2026, and the trends and assumptions underlying such guidance and outlook, Lyft’s expectations regarding its share repurchase program, including the timing of repurchases thereunder, Lyft’s plans and expectations regarding its new and existing strategic partnerships and the benefits such partnerships will provide, Lyft’s expectations regarding its products and features, Lyft’s expectations regarding AV technology, including the deployment of AVs, and Lyft’s expectations regarding its acquisitions and their anticipated impacts on Lyft’s international operations and financial results, and risks related to their integrations and operations. Lyft’s expectations and beliefs regarding these matters may not materialize, and actual results in future periods are subject to risks and uncertainties that could cause actual results to differ materially from those projected, including risks related to the macroeconomic environment and risks regarding our ability to forecast our performance due to our limited operating history and the macroeconomic environment and the risk that our partnerships may not materialize as expected. The forward-looking statements contained in this release are also subject to other risks and uncertainties, including those more fully described in Lyft’s filings with the Securities and Exchange Commission (“SEC”), including in our Annual Report on Form 10-K for the year ended December 31, 2025 and subsequent Quarterly Reports on Form 10-Q filed with the SEC. The forward-looking statements in this release are based on information available to Lyft as of the date hereof, and Lyft disclaims any obligation to update any forward-looking statements, except as required by law. This press release discusses “customers”. For rideshare in North America, there are generally two customers in every car - the driver is Lyft’s customer, and the rider is the driver’s customer. We care about both.
Non-GAAP Financial Measures
To supplement Lyft's financial information presented in accordance with generally accepted accounting principles in the United States of America, or GAAP, Lyft considers certain financial measures that are not prepared in accordance with GAAP, including Adjusted EBITDA, Adjusted EBITDA margin (calculated as a percentage of Gross Bookings) and free cash flow. Lyft defines Adjusted EBITDA as net income (loss) adjusted for interest expense, other income (expense), net, provision for (benefit from) income taxes, depreciation and amortization, stock-based compensation expense, payroll tax expense related to stock-based compensation, as well as, if applicable, sublease income, gain from lease termination, restructuring charges, costs related to acquisitions, divestitures and other corporate matters, and certain legal, tax, and regulatory reserve changes and settlements. Adjusted EBITDA margin (calculated as a percentage of Gross Bookings) is calculated by dividing Adjusted EBITDA for a period by Gross Bookings for the same period and is considered a key metric. Lyft defines free cash flow as GAAP net cash provided by (used in) operating activities less purchases of property and equipment and scooter fleet.
Lyft subleases certain office space and earns sublease income. Sublease income is included within other income, net on the condensed consolidated statement of operations, while the related lease expense is included within operating expenses and loss from operations. Lyft believes the adjustment to include sublease income in Adjusted EBITDA is useful to investors by enabling them to better assess Lyft’s operating performance, including the benefits of recent transactions, by presenting sublease income as a contra-expense to the related lease charges that are part of operating expenses.
Lyft excludes certain costs related to acquisitions including due diligence costs, professional fees in connection with an acquisition, certain financing costs, and certain integration-related expenses. These expenses are unpredictable, and depend on factors that may be outside of our control and are not reflective of our ongoing core operations. In addition, the size and complexity of an acquisition, which often drives the magnitude of costs related to acquisitions, may not be indicative of such future costs. We believe excluding costs related to acquisitions, divestitures and other corporate matters facilitates the comparison of our financial results to our historical operating results and to other companies in the industry.
Certain legal, tax, and regulatory reserve changes and settlements are primarily related to certain reserves and/or settlements for significant legal proceedings or governmental investigations and the associated fees. These matters have limited precedent, cover extended historical periods and are unpredictable in both magnitude and timing, therefore are distinct from normal, recurring legal, tax and regulatory matters and related expenses incurred in our ongoing operating performance.
Lyft uses its non-GAAP financial measures in conjunction with GAAP measures as part of our overall assessment of our performance, including the preparation of our annual operating budget and quarterly forecasts, to evaluate the effectiveness of our business strategies, and to communicate with our board of directors concerning our financial performance. Free cash flow is a measure used by our management to understand and evaluate our operating performance and trends. We believe free cash flow is a useful indicator of liquidity that provides our management with information about our ability to generate or use cash to enhance the strength of our balance sheet, further invest in our business and pursue potential strategic initiatives. Free cash flow has certain limitations, including that it does not reflect our future contractual commitments and it does not represent the total increase or decrease in our cash balance for a given period. Free cash flow does not necessarily represent funds available for discretionary use and is not necessarily a measure of our ability to fund our cash needs.
Lyft’s definitions may differ from the definitions used by other companies and therefore comparability may be limited. In addition, other companies may not publish these or similar metrics. Furthermore, these measures have certain limitations in that they do not include the impact of certain expenses that are reflected in our consolidated statement of operations that are necessary to run our business. Thus, our non-GAAP financial measures should be considered in addition to, not as substitutes for, or in isolation from, measures prepared in accordance with GAAP.
Contacts
Erin Rheaume, Investor Relations
Stephanie Rice, Media
ir@lyft.com
press@lyft.com
Lyft, Inc.
Condensed Consolidated Balance Sheets
(in thousands, except for per share data)
(unaudited)
March 31,
2026 December 31,
2025
Assets
Current assets
Cash and cash equivalents $ 1,034,869 $ 1,132,009
Short-term investments 686,066 705,172
Prepaid expenses and other current assets 1,001,596 1,082,334
Total current assets 2,722,531 2,919,515
Restricted cash and cash equivalents 792,507 705,361
Restricted investments 1,205,793 1,230,758
Investments 47,020 47,066
Property and equipment, net 438,733 418,530
Operating lease right-of-use assets 159,347 165,579
Intangible assets, net 166,383 178,944
Goodwill 435,043 439,754
Deferred tax assets
2,900,684 2,906,135
Other assets 21,926 18,411
Total assets $ 8,889,967 $ 9,030,053
Liabilities and Stockholders’ Equity
Current liabilities
Accounts payable $ 114,864 $ 120,464
Insurance reserves 2,245,010 2,180,426
Accrued and other current liabilities 2,277,930 2,196,863
Operating lease liabilities, current 28,093 28,068
Total current liabilities 4,665,897 4,525,821
Operating lease liabilities 152,694 159,904
Long-term debt, net of current portion 986,618 1,002,404
Other liabilities 58,822 68,401
Total liabilities 5,864,031 5,756,530
Stockholders’ equity
Preferred stock, $0.00001 par value; 1,000,000 shares authorized as of March 31, 2026 and December 31, 2025; no shares issued and outstanding as of March 31, 2026 and December 31, 2025 — —
Common stock, $0.00001 par value; 18,000,000 Class A shares authorized as of March 31, 2026 and December 31, 2025; 382,531 and 400,856 Class A shares issued and outstanding, as of March 31, 2026 and December 31, 2025, respectively; 87,220 Class B shares authorized as of March 31, 2026 and December 31, 2025; no Class B shares issued and outstanding as of March 31, 2026 and December 31, 2025 4 4
Additional paid-in capital 10,436,177 10,687,017
Accumulated other comprehensive (loss) income (10,372) 625
Accumulated deficit (7,399,873) (7,414,123)
Total stockholders’ equity 3,025,936 3,273,523
Total liabilities and stockholders’ equity $ 8,889,967 $ 9,030,053
Lyft, Inc.
Condensed Consolidated Statements of Operations
(in thousands, except for per share data)
(unaudited)
Three Months Ended March 31,
2026 2025
Revenue $ 1,650,489 $ 1,450,172
Costs and expenses
Cost of revenue 864,144 862,874
Operations and support 124,355 106,335
Research and development 124,152 112,495
Sales and marketing 272,936 182,017
General and administrative 270,236 215,300
Total costs and expenses 1,655,823 1,479,021
Loss from operations (5,334) (28,849)
Interest expense (5,225) (6,150)
Other income, net 30,328 40,917
Income before income taxes 19,769 5,918
Provision for income taxes 5,519 3,351
Net income $ 14,250 $ 2,567
Net income per share attributable to common stockholders
Basic $ 0.04 $ 0.01
Diluted $ 0.04 $ 0.01
Weighted-average number of shares outstanding used to compute net income per share attributable to common stockholders
Basic 395,071 419,047
Diluted 402,487 424,024
Stock-based compensation included in costs and expenses:
Cost of revenue $ 7,288 $ 7,455
Operations and support 3,348 2,652
Research and development 40,203 38,263
Sales and marketing 4,685 5,075
General and administrative 31,354 39,713
Lyft, Inc.
Condensed Consolidated Statements of Cash Flows
(in thousands)
(unaudited)
Three Months Ended March 31,
2026 2025
Cash flows from operating activities
Net income $ 14,250 $ 2,567
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization 36,625 33,572
Stock-based compensation 86,878 93,158
Deferred income tax
1,870 121
Amortization of premium on marketable securities 173 33
Accretion of discount on marketable securities (13,374) (21,482)
Amortization of debt discount and issuance costs 1,165 927
Loss (gain) on sale and disposal of assets, net 3,216 (371)
Other 526 (332)
Changes in operating assets and liabilities, net effects of acquisition
Prepaid expenses and other assets 73,937 (9,027)
Operating lease right-of-use assets 7,418 5,497
Accounts payable (8,184) 800
Insurance reserves 64,585 122,142
Accrued and other liabilities 46,820 67,375
Lease liabilities (8,226) (7,746)
Net cash provided by operating activities 307,679 287,234
Cash flows from investing activities
Purchases of marketable securities (960,203) (1,028,810)
Proceeds from sales of marketable securities 129,629 71,204
Proceeds from maturities of marketable securities 884,871 1,014,047
Proceeds from maturities of term deposits — 2,194
Purchases of property and equipment and scooter fleet (20,423) (6,500)
Sales of property and equipment 16,689 13,523
Other investing activities 239 —
Net cash provided by investing activities 50,802 65,658
Cash flows from financing activities
Repayment of loans (19,983) (16,492)
Repurchase of Class A common stock (300,000) —
Taxes paid related to net share settlement of equity awards (34,699) (24,294)
Principal payments on finance lease obligations (11,485) (10,903)
Other financing activities (425) —
Net cash used in financing activities (366,592) (51,689)
Effect of foreign exchange on cash, cash equivalents and restricted cash and cash equivalents (1,883) (349)
Net (decrease) increase in cash, cash equivalents and restricted cash and cash equivalents (9,994) 300,854
Cash, cash equivalents and restricted cash and cash equivalents
Beginning of period 1,837,370 946,040
End of period $ 1,827,376 $ 1,246,894
Lyft, Inc.
Condensed Consolidated Statements of Cash Flows
(in thousands)
(unaudited)
Three Months Ended March 31,
2026 2025
Reconciliation of cash, cash equivalents and restricted cash and cash equivalents to the condensed consolidated balance sheets
Cash and cash equivalents $ 1,034,869 $ 985,494
Restricted cash and cash equivalents 792,507 261,400
Total cash, cash equivalents and restricted cash and cash equivalents $ 1,827,376 $ 1,246,894
Non-cash investing and financing activities
Financed vehicles acquired $ 36,742 $ 725
Purchases of property and equipment and scooter fleet not yet settled 9,706 10,419
Right-of-use assets acquired under finance leases 2,010 1,336
Right-of-use assets acquired under operating leases 2,717 942
Remeasurement of finance and operating lease right-of-use assets (3,655) (509)
Repurchase of Class A common stock, including excise tax, accrued and not yet paid
5,348 —
Lyft, Inc.
GAAP to Non-GAAP Reconciliations
(in millions, except for percentages)
(unaudited)
Three Months Ended
March 31,
2026 December 31,
2025 March 31,
2025
Adjusted EBITDA
Net income
$ 14.2 $ 2,755.1 $ 2.6
Adjusted to exclude the following:
Interest expense(1)
6.3 6.0 7.5
Other income, net
(30.3) (42.2) (40.9)
Provision for (benefit from) income taxes
5.5 (2,902.7) 3.4
Depreciation and amortization 36.6 37.3 33.6
Stock-based compensation 86.9 80.4 93.2
Payroll tax expense related to stock-based compensation 5.3 2.8 4.0
Sublease income 0.4 0.4 0.1
Costs related to acquisitions, divestitures and other corporate matters
5.2 5.4 3.2
Certain legal, tax, and regulatory reserve changes and settlements
2.6 211.6 —
Adjusted EBITDA(2)
$ 132.8 $ 154.1 $ 106.5
Gross Bookings $ 4,946.0 $ 5,074.2 $ 4,162.4
Net income as a percentage of Gross Bookings 0.3 % 54.3 % 0.1 %
Adjusted EBITDA margin (calculated as a percentage of Gross Bookings) 2.7 % 3.0 % 2.6 %
_______________
(1) Includes $1.1 million, $1.2 million and $1.3 million related to the interest component of vehicle related finance leases in the three months ended March 31, 2026, December 31, 2025 and March 31, 2025, respectively.
(2) Due to rounding, numbers presented may not add up precisely to the totals provided.
Trailing Twelve Months Ended Three Months Ended
March 31,
2026 March 31,
2026 December 31,
2025 September 30,
2025 June 30,
2025 March 31,
2025
Free cash flow
Net cash provided by operating activities
$ 1,188.9 $ 307.7 $ 246.2 $ 291.3 $ 343.7 $ 287.2
Less: purchases of property and equipment and scooter fleet (66.7) (20.4) (18.6) (13.4) (14.3) (6.5)
Free cash flow $ 1,122.1 $ 287.3 $ 227.6 $ 277.8 $ 329.4 $ 280.7
_______________
Note: Due to rounding, numbers presented may not add up precisely to the totals provided.
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May 07, 2026
Cover [Abstract]
Document Type
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Document Period End Date
May 07, 2026
Entity Registrant Name
Lyft, Inc.
Entity Incorporation, State or Country Code
DE
Entity File Number
001-38846
Entity Tax Identification Number
20-8809830
Entity Address, Address Line One
185 Berry Street
Entity Address, Address Line Two
Suite 400
Entity Address, City or Town
San Francisco
Entity Address, State or Province
CA
Entity Address, Postal Zip Code
94107
City Area Code
(844)
Local Phone Number
250-2773
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Trading Symbol
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Security Exchange Name
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Entity Emerging Growth Company
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For the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.
+ References
No definition available.
+ Details
Name:
dei_DocumentPeriodEndDate
Namespace Prefix:
dei_
Data Type:
xbrli:dateItemType
Balance Type:
na
Period Type:
duration
X
- Definition
The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.
+ References
No definition available.
+ Details
Name:
dei_DocumentType
Namespace Prefix:
dei_
Data Type:
dei:submissionTypeItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Address Line 1 such as Attn, Building Name, Street Name
+ References
No definition available.
+ Details
Name:
dei_EntityAddressAddressLine1
Namespace Prefix:
dei_
Data Type:
xbrli:normalizedStringItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Address Line 2 such as Street or Suite number
+ References
No definition available.
+ Details
Name:
dei_EntityAddressAddressLine2
Namespace Prefix:
dei_
Data Type:
xbrli:normalizedStringItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Name of the City or Town
+ References
No definition available.
+ Details
Name:
dei_EntityAddressCityOrTown
Namespace Prefix:
dei_
Data Type:
xbrli:normalizedStringItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Code for the postal or zip code
+ References
No definition available.
+ Details
Name:
dei_EntityAddressPostalZipCode
Namespace Prefix:
dei_
Data Type:
xbrli:normalizedStringItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Name of the state or province.
+ References
No definition available.
+ Details
Name:
dei_EntityAddressStateOrProvince
Namespace Prefix:
dei_
Data Type:
dei:stateOrProvinceItemType
Balance Type:
na
Period Type:
duration
X
- Definition
A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
+ Details
Name:
dei_EntityCentralIndexKey
Namespace Prefix:
dei_
Data Type:
dei:centralIndexKeyItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Indicate if registrant meets the emerging growth company criteria.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
+ Details
Name:
dei_EntityEmergingGrowthCompany
Namespace Prefix:
dei_
Data Type:
xbrli:booleanItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.
+ References
No definition available.
+ Details
Name:
dei_EntityFileNumber
Namespace Prefix:
dei_
Data Type:
dei:fileNumberItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Two-character EDGAR code representing the state or country of incorporation.
+ References
No definition available.
+ Details
Name:
dei_EntityIncorporationStateCountryCode
Namespace Prefix:
dei_
Data Type:
dei:edgarStateCountryItemType
Balance Type:
na
Period Type:
duration
X
- Definition
The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
+ Details
Name:
dei_EntityRegistrantName
Namespace Prefix:
dei_
Data Type:
xbrli:normalizedStringItemType
Balance Type:
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Period Type:
duration
X
- Definition
The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
+ Details
Name:
dei_EntityTaxIdentificationNumber
Namespace Prefix:
dei_
Data Type:
dei:employerIdItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Local phone number for entity.
+ References
No definition available.
+ Details
Name:
dei_LocalPhoneNumber
Namespace Prefix:
dei_
Data Type:
xbrli:normalizedStringItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 13e
-Subsection 4c
+ Details
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dei_PreCommencementIssuerTenderOffer
Namespace Prefix:
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Data Type:
xbrli:booleanItemType
Balance Type:
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Period Type:
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X
- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 14d
-Subsection 2b
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dei_PreCommencementTenderOffer
Namespace Prefix:
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Data Type:
xbrli:booleanItemType
Balance Type:
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Period Type:
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X
- Definition
Title of a 12(b) registered security.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b
+ Details
Name:
dei_Security12bTitle
Namespace Prefix:
dei_
Data Type:
dei:securityTitleItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Name of the Exchange on which a security is registered.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection d1-1
+ Details
Name:
dei_SecurityExchangeName
Namespace Prefix:
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Data Type:
dei:edgarExchangeCodeItemType
Balance Type:
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Period Type:
duration
X
- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 14a
-Subsection 12
+ Details
Name:
dei_SolicitingMaterial
Namespace Prefix:
dei_
Data Type:
xbrli:booleanItemType
Balance Type:
na
Period Type:
duration
X
- Definition
Trading symbol of an instrument as listed on an exchange.
+ References
No definition available.
+ Details
Name:
dei_TradingSymbol
Namespace Prefix:
dei_
Data Type:
dei:tradingSymbolItemType
Balance Type:
na
Period Type:
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X
- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Securities Act
-Number 230
-Section 425
+ Details
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