• Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • Settings
  • RSS Feeds
Quantisnow Logo
  • Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • Settings
  • RSS Feeds
Dashboard
    Quantisnow Logo

    © 2025 quantisnow.com
    Democratizing insights since 2022

    Services
    Live news feedsRSS FeedsAlerts
    Company
    AboutQuantisnow PlusContactJobs
    Legal
    Terms of usePrivacy policyCookie policy

    Lyft Reports Record Q4 and Full-Year 2024 Results

    2/11/25 4:05:00 PM ET
    $LYFT
    Business Services
    Consumer Discretionary
    Get the next $LYFT alert in real time by email

    Announces Inaugural Share Repurchase Program of $500 million

    Achieved annual all-time high Rides and riders

    Lyft, Inc. (NASDAQ:LYFT) today announced financial results for the fourth quarter and full year ended December 31, 2024.

    "2024 was a record-smashing year for Lyft. Thanks to our industry-leading service levels, we helped 44 million people across the U.S. and Canada get off their tuchuses," said CEO David Risher. "But we've got more to do. Our biggest competition is inertia. 2025 will be the year we show millions of riders and drivers: You've now got a better rideshare choice."

    "We achieved record Gross Bookings, significant margin expansion, our first full year of GAAP profitability, and record cash flow generation," said CFO Erin Brewer. "We surpassed every target we provided at investor day and the best part is that 2024 was only the beginning of our multi-year plan."

    Record Fourth Quarter 2024 Financial Highlights

    • Gross Bookings of $4.3 billion, up 15% year over year.
    • Revenue of $1.6 billion, up 27% year over year.
    • Net income of $61.7 million compared to net loss $(26.3) million in Q4'23.
    • Net income as a percentage of Gross Bookings was 1.4% compared to net loss as a percentage of Gross Bookings of (0.7)% in Q4'23.
    • Adjusted EBITDA of $112.8 million compared to $66.6 million in Q4'23.
      • Adjusted EBITDA margin (calculated as a percentage of Gross Bookings) was 2.6% compared to 1.8% in Q4'23.

    Record Full-Year 2024 Financial Highlights

    • Gross Bookings of $16.1 billion was up 17% year over year.
    • Revenue of $5.8 billion was up 31% year over year.
    • Net income of $22.8 million compared to a net loss of $(340.3) million in 2023.
      • Net income as a percentage of Gross Bookings was 0.1% compared to net loss as a percentage of Gross Bookings of (2.5)% in 2023.
    • Adjusted EBITDA of $382.4 million compared to $222.4 million in 2023.
      • Adjusted EBITDA margin (calculated as a percentage of Gross Bookings) was 2.4%, compared to 1.6% in 2023.
    • Net cash provided by (used in) operating activities of $849.7 million compared to $(98.2) million in 2023.
    • Free cash flow of $766.3 million compared to $(248.1) million in 2023.

    Operational Highlights

    • Record Rides: In Q4, Rides grew 15% year over year to 219 million. In 2024, Rides grew 17% year over year to 828 million.
    • Growth in Active Riders: In Q4, Active Riders grew 10% year over year to an all-time high of 24.7 million. In 2024, the company reached an all-time high of 44 million annual riders.
    • Improving Driver Preference: In both Q4 and 2024, preference for Lyft surged, resulting in the highest number of driver hours in our company's history. According to Q4 survey results, Lyft has a 16 percentage point advantage in preference vs. the other rideshare app.
    • Best-in-Class Service Levels: During Q4, Lyft's average ETAs became the fastest in the industry.

    Inaugural Share Repurchase Program

    Lyft's Board of Directors has authorized the repurchase of up to $500 million of the Company's Class A common stock. Repurchases may be made from time to time through open market purchases or through privately negotiated transactions subject to market conditions, applicable legal requirements and other relevant factors. The repurchase program does not obligate the Company to acquire any particular amount of its Class A common stock and may be suspended at any time at the Company's discretion. The timing and number of shares repurchased will depend on a variety of factors, including the stock price, business and market conditions, corporate and regulatory requirements, alternative investment opportunities, acquisition opportunities, and other factors.

    Q1'25 Outlook

    • Rides growth in the mid-teens year over year driven by industry-leading service levels and strong rider and driver growth and engagement.
    • Gross Bookings growth of approximately 10% to 14% year over year, or approximately $4.05 billion to $4.20 billion, amidst the recent pricing environment in the U.S. market.
    • Adjusted EBITDA of approximately $90 million to $95 million and an Adjusted EBITDA margin (calculated as a percentage of Gross Bookings) of approximately 2.2% to 2.3%.

    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 this non-GAAP guidance metric to its 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 through the Fourth Quarter of 2024

     

     

    Three Months Ended

    Year Ended December 31,

     

    Dec. 31, 2024

    Sept. 30, 2024

    Dec. 31, 2023

    2024

    2023

     

    (in millions, except for percentages)

    Active Riders

     

    24.7

     

     

    24.4

     

     

    22.4

     

     

     

    Rides

     

    218.5

     

     

    216.7

     

     

    190.8

     

     

    828.3

     

     

    709.0

     

    Gross Bookings

    $

    4,278.9

     

    $

    4,108.4

     

    $

    3,724.3

     

    $

    16,099.4

     

    $

    13,775.2

     

    Revenue

    $

    1,550.3

     

    $

    1,522.7

     

    $

    1,224.6

     

    $

    5,786.0

     

    $

    4,403.6

     

    Net income (loss)

    $

    61.7

     

    $

    (12.4

    )

    $

    (26.3

    )

    $

    22.8

     

    $

    (340.3

    )

    Net income (loss) as a percentage of Gross Bookings

     

    1.4

    %

     

    (0.3

    )%

     

    (0.7

    )%

     

    0.1

    %

     

    (2.5

    )%

    Net cash provided by (used in) operating activities

    $

    153.4

     

    $

    264.0

     

    $

    43.5

     

    $

    849.7

     

    $

    (98.2

    )

    Adjusted EBITDA

    $

    112.8

     

    $

    107.3

     

    $

    66.6

     

    $

    382.4

     

    $

    222.4

     

    Adjusted EBITDA margin (calculated as a percentage of Gross Bookings)

     

    2.6

    %

     

    2.6

    %

     

    1.8

    %

     

    2.4

    %

     

    1.6

    %

    Adjusted Net Income

    $

    114.5

     

    $

    118.1

     

    $

    71.1

     

    $

    391.5

     

    $

    250.7

     

    Free cash flow

    $

    140.0

     

    $

    242.8

     

    $

    14.9

     

    $

    766.3

     

    $

    (248.1

    )

    Note: Information on our key metrics and non-GAAP financial measures are 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 our user community. Lyft defines Active Riders as all riders who take at least one ride during a quarter where the Lyft Platform processes the transaction. An Active Rider is identified by a unique phone number. If a rider has two mobile phone numbers or changed their phone number and that rider took rides using both phone numbers during the quarter, that person would count as two Active Riders. If a rider has a personal and business profile tied to the same mobile phone number, that person would be considered a single Active Rider. If a ride has been requested by an organization using our Concierge offering for the benefit of a rider, we exclude this rider in the calculation of Active Riders, unless the ride is accessible in that rider's Lyft App.

    Rides

    Rides represent the level of usage of our multimodal platform. Lyft defines Rides as the total number of rides including rideshare and bike and scooter 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 invoiced to rideshare riders including any applicable taxes, tolls and fees excluding tips to drivers. It also includes amounts invoiced for other offerings, including but not limited to: Express Drive vehicle rentals, bike and scooter rentals, and amounts recognized for subscriptions, bike and bike station hardware and software sales, media, sponsorships, partnerships, and licensing and data access agreements.

    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. 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. In 2012, Lyft was founded as one of the first ridesharing communities in the United States. Now, millions of drivers have chosen to earn on billions of rides. Lyft offers rideshare, bikes, and scooters all in one app — for a more connected world, with transportation 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 for the first quarter of 2025, and the trends and assumptions underlying such guidance and outlook, and Lyft's plans and expectations, including statements about autonomous partnerships and the timing of the availability of autonomous vehicles pursuant to such partnerships. 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 Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2024, and in our Annual Report on Form 10-K for the full fiscal year 2024 that will be filed with the SEC by March 3, 2025. 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, there are 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 Net Income (Loss), 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, sublease income and gain from lease termination, as well as, if applicable, restructuring charges and costs related to acquisitions and divestitures. 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 Adjusted Net Income (Loss) as net income (loss) adjusted for amortization of intangible assets, stock-based compensation expense (net of any benefit), payroll tax expense related to stock-based compensation and gain from lease termination, as well as, if applicable, restructuring charges and cost related to acquisitions and divestitures. Lyft defines free cash flow as GAAP net cash provided by (used in) operating activities less purchases of property and equipment and scooter fleet.

    Beginning in the first quarter of 2025, we will no longer present Adjusted Net Income (Loss) as our management no longer uses this metric for purposes of understanding and evaluating our operating performance.

    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.

    In the fourth quarter of 2024, we terminated a portion of the lease for the Company's San Francisco headquarters. The right-of-use asset associated with the portion of this lease was previously impaired as part of our restructuring plans in the fourth quarter of 2022 and second quarter of 2023, and the extinguishment of the remaining lease liability resulted in the recorded gain within operating lease costs. We believe this does not reflect the current period performance of our ongoing operations and that the adjustment to exclude this gain from lease termination from Adjusted EBITDA and Adjusted Net Income (Loss) is useful to investors by enabling them to better assess Lyft's ongoing operating performance and provide for better comparability with Lyft's historically disclosed Adjusted EBITDA and Adjusted Net Income (Loss) amounts.

    In November 2022, April 2023 and September 2024, Lyft committed to plans of termination as part of efforts to reduce operating expenses. Lyft believes the costs associated with these restructuring efforts do not reflect performance of Lyft's ongoing operations. Lyft believes the adjustment to exclude the costs related to restructuring from Adjusted EBITDA and Adjusted Net Income (Loss) is useful to investors by enabling them to better assess Lyft's ongoing operating performance and provide for better comparability with Lyft's historically disclosed Adjusted EBITDA and Adjusted Net Income (Loss) amounts.

    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.

    Lyft, Inc.

    Consolidated Balance Sheets

    (in thousands, except for per share data)

    (unaudited)

     

     

    December 31,

     

    2024

    2023

    Assets

     

     

    Current assets

     

     

    Cash and cash equivalents

    $

    759,319

     

    $

    558,636

     

    Short-term investments

     

    1,225,124

     

     

    1,126,548

     

    Prepaid expenses and other current assets

     

    966,090

     

     

    892,235

     

    Total current assets

     

    2,950,533

     

     

    2,577,419

     

    Restricted cash and cash equivalents

     

    186,721

     

     

    211,786

     

    Restricted investments

     

    1,355,451

     

     

    837,291

     

    Other investments

     

    42,516

     

     

    39,870

     

    Property and equipment, net

     

    444,864

     

     

    465,844

     

    Operating lease right of use assets

     

    148,397

     

     

    98,202

     

    Intangible assets, net

     

    42,776

     

     

    59,515

     

    Goodwill

     

    251,376

     

     

    257,791

     

    Other assets

     

    12,435

     

     

    16,749

     

    Total assets

    $

    5,435,069

     

    $

    4,564,467

     

    Liabilities and Stockholders' Equity

     

     

    Current liabilities

     

     

    Accounts payable

    $

    97,704

     

    $

    72,282

     

    Insurance reserves

     

    1,701,393

     

     

    1,337,868

     

    Accrued and other current liabilities

     

    1,666,278

     

     

    1,508,855

     

    Operating lease liabilities — current

     

    25,192

     

     

    42,556

     

    Convertible senior notes, current

     

    390,175

     

     

    —

     

    Total current liabilities

     

    3,880,742

     

     

    2,961,561

     

    Operating lease liabilities

     

    152,074

     

     

    134,102

     

    Long-term debt, net of current portion

     

    565,968

     

     

    839,362

     

    Other liabilities

     

    69,269

     

     

    87,924

     

    Total liabilities

     

    4,668,053

     

     

    4,022,949

     

     

     

     

    Stockholders' equity

     

     

    Preferred stock, $0.00001 par value; 1,000,000 shares authorized as of December 31, 2024 and 2023; no shares issued and outstanding as of December 31, 2024 and 2023

     

    —

     

     

    —

     

    Common stock, $0.00001 par value; 18,000,000 Class A shares authorized as of December 31, 2024 and 2023; 409,474 and 391,239 Class A shares issued and outstanding as of December 31, 2024 and 2023, respectively; 100,000 Class B shares authorized as of December 31, 2024 and 2023; 8,531 and 8,567 Class B shares issued and outstanding, as of December 31, 2024 and 2023, respectively

     

    4

     

     

    4

     

    Additional paid-in capital

     

    11,035,246

     

     

    10,827,378

     

    Accumulated other comprehensive income (loss)

     

    (10,103

    )

     

    (4,949

    )

    Accumulated deficit

     

    (10,258,131

    )

     

    (10,280,915

    )

    Total stockholders' equity

     

    767,016

     

     

    541,518

     

    Total liabilities and stockholders' equity

    $

    5,435,069

     

    $

    4,564,467

     

    Lyft, Inc.

    Consolidated Statements of Operations

    (in thousands, except for per share data)

    (unaudited)

     

     

    Year Ended December 31,

     

    2024

    2023

    2022

    Revenue

    $

    5,786,016

     

    $

    4,403,589

     

    $

    4,095,135

     

    Costs and expenses

     

     

     

    Cost of revenue

     

    3,337,714

     

     

    2,543,954

     

     

    2,435,736

     

    Operations and support

     

    443,821

     

     

    427,239

     

     

    443,846

     

    Research and development

     

    397,073

     

     

    555,916

     

     

    856,777

     

    Sales and marketing

     

    788,972

     

     

    481,004

     

     

    531,512

     

    General and administrative

     

    937,348

     

     

    871,080

     

     

    1,286,180

     

    Total costs and expenses

     

    5,904,928

     

     

    4,879,193

     

     

    5,554,051

     

    Loss from operations

     

    (118,912

    )

     

    (475,604

    )

     

    (1,458,916

    )

    Interest expense

     

    (28,921

    )

     

    (26,223

    )

     

    (19,735

    )

    Other income (expense), net

     

    173,183

     

     

    170,123

     

     

    (99,988

    )

    Income (loss) before income taxes

     

    25,350

     

     

    (331,704

    )

     

    (1,578,639

    )

    Provision for (benefit from) income taxes

     

    2,566

     

     

    8,616

     

     

    5,872

     

    Net income (loss)

    $

    22,784

     

    $

    (340,320

    )

    $

    (1,584,511

    )

    Net income (loss) per share attributable to common stockholders

     

     

     

    Basic

    $

    0.06

     

    $

    (0.88

    )

    $

    (4.47

    )

    Diluted

    $

    0.06

     

    $

    (0.88

    )

    $

    (4.47

    )

    Weighted-average number of shares outstanding used to compute net income (loss) per share attributable to common stockholders

     

     

     

    Basic

     

    409,181

     

     

    385,335

     

     

    354,731

     

    Diluted

     

    413,651

     

     

    385,335

     

     

    354,731

     

    Stock-based compensation included in costs and expenses:

     

     

     

    Cost of revenue

    $

    24,895

     

    $

    30,170

     

    $

    44,132

     

    Operations and support

     

    8,397

     

     

    15,468

     

     

    25,442

     

    Research and development

     

    117,833

     

     

    214,160

     

     

    391,983

     

    Sales and marketing

     

    17,286

     

     

    29,682

     

     

    49,867

     

    General and administrative

     

    162,510

     

     

    195,053

     

     

    239,343

     

    Lyft, Inc.

    Consolidated Statements of Cash Flows

    (in thousands)

    (unaudited)

     

     

    Year Ended December 31,

     

    2024

    2023

    2022

    Cash flows from operating activities

     

     

     

    Net income (loss)

    $

    22,784

     

    $

    (340,320

    )

    $

    (1,584,511

    )

    Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities

     

     

     

    Depreciation and amortization

     

    148,892

     

     

    116,513

     

     

    154,798

     

    Stock-based compensation

     

    330,921

     

     

    484,533

     

     

    750,767

     

    Amortization of premium on marketable securities

     

    284

     

     

    117

     

     

    2,955

     

    Accretion of discount on marketable securities

     

    (89,425

    )

     

    (68,125

    )

     

    (23,245

    )

    Amortization of debt discount and issuance costs

     

    3,737

     

     

    2,877

     

     

    2,823

     

    (Gain) loss on sale and disposal of assets, net

     

    7,831

     

     

    (11,278

    )

     

    (60,655

    )

    Gain on lease termination

     

    (29,610

    )

     

    —

     

     

    —

     

    Impairment of non-marketable equity security

     

    —

     

     

    —

     

     

    135,714

     

    Other

     

    2,469

     

     

    (4,261

    )

     

    23,592

     

    Changes in operating assets and liabilities, net effects of acquisition

     

     

     

    Prepaid expenses and other assets

     

    (76,359

    )

     

    (86,922

    )

     

    (275,945

    )

    Operating lease right-of-use assets

     

    26,276

     

     

    20,046

     

     

    96,317

     

    Accounts payable

     

    21,712

     

     

    (41,079

    )

     

    (27,215

    )

    Insurance reserves

     

    363,524

     

     

    (79,482

    )

     

    348,721

     

    Accrued and other liabilities

     

    164,057

     

     

    (75,571

    )

     

    262,358

     

    Lease liabilities

     

    (47,356

    )

     

    (15,292

    )

     

    (43,759

    )

    Net cash provided by (used in) operating activities

     

    849,737

     

     

    (98,244

    )

     

    (237,285

    )

    Cash flows from investing activities

     

     

     

    Purchases of marketable securities

     

    (4,177,429

    )

     

    (3,288,659

    )

     

    (4,049,515

    )

    Purchases of term deposits

     

    (4,388

    )

     

    (3,539

    )

     

    (13,586

    )

    Proceeds from sales of marketable securities

     

    232,910

     

     

    452,465

     

     

    676,854

     

    Proceeds from maturities of marketable securities

     

    3,415,318

     

     

    3,481,042

     

     

    3,308,664

     

    Proceeds from maturities of term deposits

     

    5,733

     

     

    8,539

     

     

    395,092

     

    Purchases of property and equipment and scooter fleet

     

    (83,470

    )

     

    (149,819

    )

     

    (114,970

    )

    Cash paid for acquisitions, net of cash acquired

     

    —

     

     

    1,630

     

     

    (146,334

    )

    Sales of property and equipment

     

    92,045

     

     

    92,594

     

     

    129,840

     

    Other

     

    1,303

     

     

    5,500

     

     

    —

     

    Net cash (used in) provided by investing activities

     

    (517,978

    )

     

    599,753

     

     

    186,045

     

    Cash flows from financing activities

     

     

     

    Repayment of loans

     

    (84,070

    )

     

    (72,484

    )

     

    (67,639

    )

    Proceeds from issuance of convertible senior notes

     

    460,000

     

     

    —

     

     

    —

     

    Payment of debt issuance costs

     

    (11,888

    )

     

    —

     

     

    —

     

    Purchase of capped call

     

    (47,886

    )

     

    —

     

     

    —

     

    Repurchase of Class A common stock

     

    (50,000

    )

     

    —

     

     

    —

     

    Payment for settlement of convertible senior notes due 2025

     

    (350,000

    )

     

    —

     

     

    —

     

    Proceeds from exercise of stock options and other common stock issuances

     

    15,051

     

     

    10,993

     

     

    21,655

     

    Taxes paid related to net share settlement of equity awards

     

    (40,328

    )

     

    (3,021

    )

     

    (6,733

    )

    Principal payments on finance lease obligations

     

    (46,748

    )

     

    (43,466

    )

     

    (34,783

    )

    Contingent consideration paid

     

    —

     

     

    (14,100

    )

     

    —

     

    Net cash used in financing activities

     

    (155,869

    )

     

    (122,078

    )

     

    (87,500

    )

    Effect of foreign exchange on cash, cash equivalents and restricted cash and cash equivalents

     

    (1,636

    )

     

    533

     

     

    (631

    )

    Net increase (decrease) in cash, cash equivalents and restricted cash and cash equivalents

     

    174,254

     

     

    379,964

     

     

    (139,371

    )

    Cash, cash equivalents and restricted cash and cash equivalents

     

     

     

    Beginning of period

     

    771,786

     

     

    391,822

     

     

    531,193

     

    End of period

    $

    946,040

     

    $

    771,786

     

    $

    391,822

     

    Lyft, Inc.

    Consolidated Statements of Cash Flows

    (in thousands)

    (unaudited)

     

     

    Year Ended December 31,

     

    2024

     

    2023

     

    2022

    Reconciliation of cash, cash equivalents and restricted cash and cash equivalents to the consolidated balance sheets

     

     

     

     

     

    Cash and cash equivalents

    $

    759,319

     

    $

    558,636

     

     

    $

    281,090

     

    Restricted cash and cash equivalents

     

    186,721

     

     

    211,786

     

     

     

    109,368

     

    Restricted cash, included in prepaid expenses and other current assets

     

    —

     

     

    1,364

     

     

     

    1,364

     

    Total cash, cash equivalents and restricted cash and cash equivalents

    $

    946,040

     

    $

    771,786

     

     

    $

    391,822

     

     

     

     

     

     

     

    Supplemental disclosures of cash flow information

     

     

     

     

     

    Cash paid for income taxes

     

    11,207

     

     

    9,425

     

     

     

    10,723

     

    Cash paid for interest

     

    28,304

     

     

    20,176

     

     

     

    16,752

     

     

     

     

     

     

     

    Non-cash investing and financing activities

     

     

     

     

     

    Financed vehicles acquired

    $

    83,600

     

    $

    127,095

     

     

    $

    48,104

     

    Purchases of property and equipment and scooter fleet not yet settled

     

    10,599

     

     

    4,505

     

     

     

    31,534

     

    Contingent consideration

     

    —

     

     

    —

     

     

     

    15,000

     

    Right-of-use assets acquired under finance leases

     

    45,207

     

     

    79,102

     

     

     

    11,428

     

    Right-of-use assets acquired under operating leases

     

    7,710

     

     

    3,795

     

     

     

    498

     

    Remeasurement of finance and operating lease right of use assets

     

    54,689

     

     

    (10,582

    )

     

     

    (321

    )

    Lyft, Inc.

    GAAP to Non-GAAP Reconciliations

    (in millions)

    (unaudited)

     

     

    Three Months Ended

    Year Ended December 31,

     

    Dec. 31, 2024

    Sept. 30, 2024

    Dec. 31, 2023

    2024

    2023

    Adjusted EBITDA

     

     

     

     

     

     

     

     

     

     

     

    Net income (loss)

    $

    61.7

     

    $

    (12.4

    )

    $

    (26.3

    )

    $

    22.8

     

    $

    (340.3

    )

    Adjusted to exclude the following:

     

     

     

     

     

    Interest expense(1)

     

    8.1

     

     

    8.9

     

     

    9.7

     

     

    34.7

     

     

    29.7

     

    Other income, net

     

    (39.2

    )

     

    (50.9

    )

     

    (45.4

    )

     

    (173.2

    )

     

    (170.1

    )

    Provision for (benefit from) income taxes

     

    (1.2

    )

     

    (0.7

    )

     

    3.2

     

     

    2.6

     

     

    8.6

     

    Depreciation and amortization

     

    33.7

     

     

    45.1

     

     

    31.2

     

     

    148.9

     

     

    116.5

     

    Stock-based compensation

     

    76.1

     

     

    89.0

     

     

    91.7

     

     

    330.9

     

     

    484.5

     

    Payroll tax expense related to stock-based compensation

     

    1.5

     

     

    1.7

     

     

    1.6

     

     

    14.8

     

     

    12.5

     

    Sublease income

     

    0.5

     

     

    0.9

     

     

    1.1

     

     

    3.5

     

     

    4.8

     

    Gain from lease termination(2)

     

    (29.6

    )

     

    —

     

     

    —

     

     

    (29.6

    )

     

    —

     

    Restructuring charges(3)(4)(5)

     

    1.2

     

     

    25.8

     

     

    —

     

     

    26.9

     

     

    76.2

     

    Adjusted EBITDA

    $

    112.8

     

    $

    107.3

     

    $

    66.6

     

    $

    382.4

     

    $

    222.4

     

    Gross Bookings

    $

    4,278.9

     

    $

    4,108.4

     

    $

    3,724.3

     

    $

    16,099.4

     

    $

    13,775.2

     

    Net income (loss) as a percentage of Gross Bookings

     

    1.4

    %

     

    (0.3

    %)

     

    (0.7

    %)

     

    0.1

    %

     

    (2.5

    %)

    Adjusted EBITDA margin (calculated as a percentage of Gross Bookings)

     

    2.6

    %

     

    2.6

    %

     

    1.8

    %

     

    2.4

    %

     

    1.6

    %

    _______________

    (1) Includes $1.4 million, $1.5 million and $1.2 million related to the interest component of vehicle related finance leases in the three months ended December 31, 2024, September 30, 2024 and December 31, 2023, respectively, and $5.8 million and $3.4 million related to the interest component of vehicle related finance leases in the years ended December 31, 2024 and 2023, respectively.

    (2) In the fourth quarter of 2024, we recorded a $29.6 million gain as a result of a lease termination.

    (3) In the third and fourth quarters of 2024, we incurred restructuring charges of $14.1 million of fixed asset disposals, $11.1 million of other current assets disposals and other costs and $1.8 million of severance and other employee costs. Restructuring related charges for accelerated depreciation of fixed assets of $10.6 million are included on its respective line item. These charges were related to the restructuring plan announced in September 2024.

    (4) In the second quarter of 2023, we incurred restructuring charges of $46.6 million of severance and other employee costs and $5.7 million in impairment charges, fixed asset write-offs and other costs. Restructuring related charges for stock-based compensation of $9.7 million, accelerated depreciation of $0.7 million and payroll tax expense related to stock-based compensation of $0.6 million are included on their respective line items. These charges were related to the restructuring plan announced in April 2023.

    (5) In the first quarter of 2023, we incurred restructuring charges of $4.3 million of severance and other employee costs and $19.6 million related to right-of-use asset impairments and other costs due to ongoing transformational initiatives. In addition, restructuring related charges for accelerated depreciation of $0.3 million and stock-based compensation of $0.2 million are included on their respective line items. These charges were related to the restructuring plan announced in November 2022.

     

    Note: Due to rounding, numbers presented may not add up precisely to the totals provided.

     

    Three Months Ended

    Year Ended December 31,

     

    Dec. 31, 2024

    Sept. 30, 2024

    Dec. 31, 2023

    2024

    2023

    Adjusted Net Income(1)

     

     

     

     

     

     

     

     

     

     

     

    Net income (loss)

    $

    61.7

     

    $

    (12.4

    )

    $

    (26.3

    )

    $

    22.8

     

    $

    (340.3

    )

    Adjusted to exclude the following:

     

     

     

     

     

    Amortization of intangible assets

     

    3.5

     

     

    3.5

     

     

    4.1

     

     

    15.0

     

     

    16.8

     

    Stock-based compensation expense

     

    76.1

     

     

    89.0

     

     

    91.7

     

     

    330.9

     

     

    484.5

     

    Payroll tax expense related to stock-based compensation

     

    1.5

     

     

    1.7

     

     

    1.6

     

     

    14.8

     

     

    12.5

     

    Gain from lease termination(2)

     

    (29.6

    )

     

    —

     

     

    —

     

     

    (29.6

    )

     

    —

     

    Restructuring charges(3)(4)(5)

     

    1.2

     

     

    36.4

     

     

    —

     

     

    37.6

     

     

    77.2

     

    Adjusted Net Income(1)

    $

    114.5

     

    $

    118.1

     

    $

    71.1

     

    $

    391.5

     

    $

    250.7

     

    _______________

    (1) Beginning in the first quarter of 2025, we will no longer present Adjusted Net Income (Loss) as a non-GAAP financial measure.

    (2) In the fourth quarter of 2024, we recorded a $29.6 million gain as a result of a lease termination.

    (3) In the third and fourth quarters of 2024, we incurred restructuring charges of $14.1 million of fixed asset disposals, $11.1 million of other current assets disposals and other costs, $10.6 million of accelerated depreciation of fixed assets and $1.8 million of severance and other employee costs. These charges were related to the restructuring plan announced in September 2024.

    (4) In the second quarter of 2023, we incurred restructuring charges of $46.6 million of severance and other employee costs, $5.7 million in impairment charges, fixed asset write-offs and other costs and $0.7 million of accelerated depreciation. Restructuring related charges for stock-based compensation of $9.7 million and payroll tax expense related to stock-based compensation of $0.6 million are included on their respective line items. These charges were related to the restructuring plan announced in April 2023.

    (5) In the first quarter of 2023, we incurred restructuring charges of $4.3 million of severance and other employee costs, $19.6 million related to right-of-use asset impairments and other costs and $0.3 million related to accelerated depreciation of certain fixed assets due to ongoing transformational initiatives. In addition, restructuring related charges for the stock-based compensation of $0.2 million are included on their respective line items. These charges were related to the restructuring plan announced in November 2022.

     

    Note: Due to rounding, numbers presented may not add up precisely to the totals provided.

     

    Year Ended December 31,

     

    2024

    2023

    2022

    Free cash flow

     

     

     

     

     

     

     

    Net cash provided by (used in) operating activities

    $

    849.7

     

    $

    (98.2

    )

    $

    (237.3

    )

    Less: purchases of property and equipment and scooter fleet

     

    (83.5

    )

     

    (149.8

    )

     

    (115.0

    )

    Free cash flow

    $

    766.3

     

    $

    (248.1

    )

    $

    (352.3

    )

     

    Note: Due to rounding, numbers presented may not add up precisely to the totals provided.

     

    View source version on businesswire.com: https://www.businesswire.com/news/home/20250211666560/en/

    Aurélien Nolf, Investor Relations

    [email protected]

    Stephanie Rice, Media

    [email protected]

    Get the next $LYFT alert in real time by email

    Chat with this insight

    Save time and jump to the most important pieces.

    Recent Analyst Ratings for
    $LYFT

    DatePrice TargetRatingAnalyst
    5/9/2025$20.00Neutral → Buy
    Goldman
    4/16/2025$15.00Outperform
    Oppenheimer
    4/3/2025$10.50Buy → Underperform
    BofA Securities
    1/6/2025$20.00Hold → Buy
    The Benchmark Company
    10/25/2024Hold
    The Benchmark Company
    9/24/2024Mkt Perform
    Raymond James
    9/5/2024$13.00Neutral
    Cantor Fitzgerald
    8/23/2024Reduce → Neutral
    Nomura
    More analyst ratings

    $LYFT
    Insider Trading

    Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

    See more
    • CHIEF LEGAL OFFICER, SECRETARY Llewellyn Lindsay Catherine sold $283,170 worth of shares (22,736 units at $12.45), decreasing direct ownership by 2% to 959,697 units (SEC Form 4)

      4 - Lyft, Inc. (0001759509) (Issuer)

      5/2/25 8:17:42 PM ET
      $LYFT
      Business Services
      Consumer Discretionary
    • Director Whiteside Janey was granted 1,198 shares, increasing direct ownership by 3% to 41,111 units (SEC Form 4)

      4 - Lyft, Inc. (0001759509) (Issuer)

      4/22/25 8:51:09 PM ET
      $LYFT
      Business Services
      Consumer Discretionary
    • Director Stephenson Dave was granted 1,456 shares, increasing direct ownership by 2% to 66,944 units (SEC Form 4)

      4 - Lyft, Inc. (0001759509) (Issuer)

      4/22/25 8:49:52 PM ET
      $LYFT
      Business Services
      Consumer Discretionary

    $LYFT
    Leadership Updates

    Live Leadership Updates

    See more
    • Lyft Announces Strong Q3 2024 Financial Results and Raises Full-Year Outlook

      Active Riders and Rides reached new all-time highs Gross Bookings grew 16% year-over-year Lyft, Inc. (NASDAQ:LYFT) today announced financial results for the third quarter ended September 30, 2024. "Our team delivered one of the strongest quarters in Lyft history, following the many new innovations we've brought to drivers and riders so far this year," said CEO David Risher. "Going forward, our work with best-of-breed partners and the autonomous future we're building will give people even more reasons to choose Lyft every time." "Operational excellence underpins the health of our marketplace and remains a long-term driver of our business," said CFO Erin Brewer. "In Q3, we delivered across

      11/6/24 4:05:00 PM ET
      $LYFT
      Business Services
      Consumer Discretionary
    • Lyft Announces New Round of Autonomous Partnerships

      Lyft to join forces with Mobileye, May Mobility, and Nexar to connect riders to AVs Lyft, Inc. (NASDAQ:LYFT), one of North America's largest transportation networks, announced plans for multiple autonomous vehicle (AV) partnerships to connect the Lyft community with future AV rides in the Lyft app. Today, Lyft is announcing its next step in delivering AVs to millions of people. Lyft and Mobileye, a leader in self-driving tech and advanced driver assistance systems (ADAS) plan to bring AVs to the Lyft network. Through this partnership, Lyft will make its scaled rideshare platform available to all vehicles with Mobileye's self-driving technology. Vehicles equipped with Mobileye Drive techno

      11/6/24 9:00:00 AM ET
      $LYFT
      Business Services
      Consumer Discretionary
    • ezCater Names Kaushik Subramanian as Chief Revenue Officer

      Subramanian joins the leading food for work technology company in the US, bringing more than 20 years of experience at high-growth companies ezCater, the leading food for work technology company in the US, today announced it has named Kaushik Subramanian as Chief Revenue Officer, effective June 3, 2024. Subramanian is a seasoned technology executive with over 20 years of business management experience at high-growth companies and marketplaces, including Lyft, Inc. (NASDAQ:LYFT), Amazon.com, Inc. (NASDAQ:AMZN), and Visa, Inc. (NYSE:V). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240603123872/en/ezCater, the leading food for

      6/3/24 6:00:00 AM ET
      $AMZN
      $LYFT
      $V
      Catalog/Specialty Distribution
      Consumer Discretionary
      Business Services

    $LYFT
    Financials

    Live finance-specific insights

    See more
    • Lyft to Announce First Quarter 2025 Financial Results

      Lyft, Inc. (NASDAQ:LYFT) (the "Company" or "Lyft") will release financial results for the first quarter of 2025 after the close of the market on Thursday, May 8, 2025. On the same day, Lyft will host a conference call at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) to discuss these financial results and business highlights. To listen to the live audio webcast, please visit the Company's Investor Relations page at https://investor.lyft.com/. The archived webcast will be available on the Company's Investor Relations page shortly after the call. Lyft announces material information to the public about the Company, its products and services and other matters through a variety of means, inc

      4/15/25 4:05:00 PM ET
      $LYFT
      Business Services
      Consumer Discretionary
    • Lyft To Announce Fourth Quarter and Full-Year 2024 Financial Results

      Lyft, Inc. (NASDAQ:LYFT) (the "Company" or "Lyft") will release financial results for the fourth quarter and full-year 2024 after the close of the market on Tuesday, February 11, 2025. On the same day, Lyft will host a conference call at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) to discuss these financial results and business highlights. To listen to the live audio webcast, please visit the Company's Investor Relations page at https://investor.lyft.com/. The archived webcast will be available on the Company's Investor Relations page shortly after the call. Lyft announces material information to the public about the Company, its products and services and other matters through a v

      1/21/25 4:05:00 PM ET
      $LYFT
      Business Services
      Consumer Discretionary
    • Lyft To Announce Third Quarter 2024 Financial Results

      Lyft, Inc. (NASDAQ:LYFT) (the "Company" or "Lyft") will release financial results for the third quarter of 2024 after the close of the market on Wednesday, November 6, 2024. On the same day, Lyft will host a conference call at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) to discuss these financial results and business highlights. To listen to the live audio webcast, please visit the Company's Investor Relations page at https://investor.lyft.com/. The archived webcast will be available on the Company's Investor Relations page shortly after the call. Lyft announces material information to the public about the Company, its products and services and other matters through a variety of mean

      10/16/24 4:05:00 PM ET
      $LYFT
      Business Services
      Consumer Discretionary

    $LYFT
    Large Ownership Changes

    This live feed shows all institutional transactions in real time.

    See more
    • Amendment: SEC Form SC 13G/A filed by Lyft Inc.

      SC 13G/A - Lyft, Inc. (0001759509) (Subject)

      12/4/24 2:38:58 PM ET
      $LYFT
      Business Services
      Consumer Discretionary
    • Amendment: SEC Form SC 13G/A filed by Lyft Inc.

      SC 13G/A - Lyft, Inc. (0001759509) (Subject)

      11/12/24 10:32:11 AM ET
      $LYFT
      Business Services
      Consumer Discretionary
    • SEC Form SC 13G filed by Lyft Inc.

      SC 13G - Lyft, Inc. (0001759509) (Subject)

      10/23/24 1:55:36 PM ET
      $LYFT
      Business Services
      Consumer Discretionary

    $LYFT
    Press Releases

    Fastest customizable press release news feed in the world

    See more

    $LYFT
    SEC Filings

    See more

    $LYFT
    Insider Purchases

    Insider purchases reveal critical bullish sentiment about the company from key stakeholders. See them live in this feed.

    See more
    • Engine Capital Concludes Campaign at Lyft Following Productive Engagement on Capital Allocation Initiatives

      Engine Capital LP (together with its affiliates, "Engine" or "we") today announced that it is withdrawing its nomination of candidates for election to Lyft, Inc.'s (NASDAQ:LYFT) ("Lyft" or the "Company") Board of Directors (the "Board") at the 2025 Annual Meeting of Shareholders following its engagement with the Company. Arnaud Ajdler, Founder and Portfolio Manager of Engine, commented: "We appreciate the Board's willingness to engage with us about steps that can be taken to enhance value for all of Lyft's shareholders. Following a series of productive conversations, the Board has taken an important first step by committing to significant share repurchases in the coming quarters. In light

      5/9/25 8:30:00 AM ET
      $LYFT
      Business Services
      Consumer Discretionary
    • Lyft Reports Strong Q1 2025 Financial Results

      Strongest start to the year ever with record Q1 Gross Bookings and Active Riders growth accelerating Cash flow generation approaching $1 billion for the trailing twelve months Increasing share repurchase program to $750 million Lyft, Inc. (NASDAQ:LYFT) today announced strong financial results for the first quarter ended March 31, 2025. "Q1 marked Lyft's 16th consecutive quarter of double-digit year on year Gross Bookings growth demonstrating the resilience and momentum of our customer-obsessed strategy," said Lyft CEO David Risher. "In the last week of March, rides reached the highest weekly levels in our history and dual-app drivers reported a 23 percentage point preference for Lyft. W

      5/8/25 4:01:00 PM ET
      $LYFT
      Business Services
      Consumer Discretionary
    • Engine Capital Issues Presentation Highlighting the Case for Boardroom Change at Lyft and Opportunities for Meaningful Value Creation

      Details the Board's Numerous Governance and Capital Allocation Shortcomings, Including a Dual-Class Share Structure, Staggered Board, Unsustainable Level of Dilution, and Unoptimized Balance Sheet Highlights its Director Candidates' Substantial Public Company Board Experience, Capital Allocation Expertise, and Track Records of Value Creation Believes Lyft Should Immediately Implement a $750 Million Accelerated Share Repurchase Program, Eliminate the Dual-Class Share Structure, and De-Stagger the Board Files Definitive Proxy Statement and Urges Shareholders to Vote FOR Alan L. Bazaar and Daniel B. Silvers on the BLUE Universal Proxy Card as Replacements for Directors Sean Aggarwal and Bet

      4/29/25 8:00:00 AM ET
      $LYFT
      Business Services
      Consumer Discretionary
    • SEC Form DFAN14A filed by Lyft Inc.

      DFAN14A - Lyft, Inc. (0001759509) (Subject)

      5/9/25 2:23:12 PM ET
      $LYFT
      Business Services
      Consumer Discretionary
    • Lyft Inc. filed SEC Form 8-K: Results of Operations and Financial Condition, Regulation FD Disclosure, Other Events, Financial Statements and Exhibits

      8-K - Lyft, Inc. (0001759509) (Filer)

      5/8/25 4:11:34 PM ET
      $LYFT
      Business Services
      Consumer Discretionary
    • SEC Form DEFA14A filed by Lyft Inc.

      DEFA14A - Lyft, Inc. (0001759509) (Filer)

      5/2/25 5:28:44 PM ET
      $LYFT
      Business Services
      Consumer Discretionary
    • Chief Executive Officer Risher John David bought $250,272 worth of shares (13,790 units at $18.15), increasing direct ownership by 0.11% to 12,112,796 units (SEC Form 4)

      4 - Lyft, Inc. (0001759509) (Issuer)

      11/14/24 4:05:10 PM ET
      $LYFT
      Business Services
      Consumer Discretionary
    • Chief Executive Officer Risher John David bought $501,025 worth of shares (51,815 units at $9.67), increasing direct ownership by 0.43% to 12,099,006 units (SEC Form 4)

      4 - Lyft, Inc. (0001759509) (Issuer)

      8/13/24 4:07:54 PM ET
      $LYFT
      Business Services
      Consumer Discretionary

    $LYFT
    Analyst Ratings

    Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

    See more
    • Lyft upgraded by Goldman with a new price target

      Goldman upgraded Lyft from Neutral to Buy and set a new price target of $20.00

      5/9/25 8:39:21 AM ET
      $LYFT
      Business Services
      Consumer Discretionary
    • Oppenheimer initiated coverage on Lyft with a new price target

      Oppenheimer initiated coverage of Lyft with a rating of Outperform and set a new price target of $15.00

      4/16/25 9:08:37 AM ET
      $LYFT
      Business Services
      Consumer Discretionary
    • Lyft downgraded by BofA Securities with a new price target

      BofA Securities downgraded Lyft from Buy to Underperform and set a new price target of $10.50

      4/3/25 8:16:18 AM ET
      $LYFT
      Business Services
      Consumer Discretionary