LYFT

MKT CAP:$6B

Lyft, Inc.

Market Cap

$6B

Technology·Software - Application·🇺🇸 United States·NASDAQ

Technology·Software App·🇺🇸·NASDAQ

Stock Price

$14.44-$5.35 (-27.03%)

Apr 22, 2026

Company Details

Lyft, Inc. operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. The company operates multimodal transportation networks that offer riders personalized and on-demand access to various mobility option...

CEO

John David Risher

IPO Date

Mar 29, 2019

Website

www.lyft.com

Key Metrics TTM

Revenue

$6.3B

+9.2% YoY

Net Income

$2.8B

EPS (Diluted)

$6.81

Free Cash Flow

$1.1B

Revenue / Share

$15.12

Gross Margin

41.5%

Operating Margin

-3.0%

Net Margin

45.0%

FCF Margin

18.2%

P/S

0.9x

P/E

2.0x

Earnings Reports

Q1 2026

May 14, 2026

PENDING

FY 2025

Feb 10, 2026

$6.3B+9.2%EPS $6.81

Q4 2025

Feb 10, 2026

$1.6B+2.7%EPS $6.60

Q3 2025

Nov 5, 2025

$1.7B+10.7%EPS $0.11

Q2 2025

Aug 6, 2025

$1.6B+10.6%EPS $0.10

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$876M	$435M	-$199M
Q2 22	$991M	$340M	-$373M
Q3 22	$1.1B	$483M	-$290M
Q4 22	$1.2B	$401M	-$596M
Q1 23	$1.0B	$452M	-$217M
Q2 23	$1.0B	$414M	-$159M
Q3 23	$1.2B	$513M	-$40M
Q4 23	$1.2B	$481M	-$60M
Q1 24	$1.3B	$522M	-$63M
Q2 24	$1.4B	$616M	-$27M
Q3 24	$1.5B	$634M	-$57M
Q4 24	$1.6B	$676M	$28M
Q1 25	$1.5B	$587M	-$29M
Q2 25	$1.6B	$652M	$2M
Q3 25	$1.7B	$758M	$23M
Q4 25	$1.6B	$621M	-$185M

Valuation

Quarter	P/S	P/E
Q1 22	1.8x	—
Q2 22	1.6x	—
Q3 22	1.5x	—
Q4 22	1.4x	—
Q1 23	1.3x	—
Q2 23	1.3x	—
Q3 23	1.3x	—
Q4 23	1.3x	—
Q1 24	1.2x	—
Q2 24	1.1x	—
Q3 24	1.0x	—
Q4 24	1.0x	248.1x
Q1 25	0.9x	99.4x
Q2 25	0.9x	61.3x
Q3 25	0.9x	37.5x
Q4 25	0.9x	2.0x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	-$152M	-$183M
Q2 22	-$25M	-$48M
Q3 22	-$26M	-$55M
Q4 22	-$34M	-$66M
Q1 23	-$74M	-$121M
Q2 23	-$70M	-$112M
Q3 23	$2M	-$30M
Q4 23	$44M	$15M
Q1 24	$156M	$127M
Q2 24	$276M	$256M
Q3 24	$264M	$243M
Q4 24	$153M	$140M
Q1 25	$287M	$281M
Q2 25	$344M	$329M
Q3 25	$291M	$278M
Q4 25	$279M	$261M

Capital Expenditures

Quarter	CapEx
Q1 22	$30M
Q2 22	$23M
Q3 22	$29M
Q4 22	$33M
Q1 23	$47M
Q2 23	$42M
Q3 23	$32M
Q4 23	$29M
Q1 24	$29M
Q2 24	$20M
Q3 24	$21M
Q4 24	$13M
Q1 25	$7M
Q2 25	$14M
Q3 25	$13M
Q4 25	$19M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+53.6%	+5.0%
Q2 22	+62.7%	+33.0%
Q3 22	+37.7%	+33.7%
Q4 22	+35.9%	+65.6%
Q1 23	+14.3%	+13.2%
Q2 23	+3.0%	-13.5%
Q3 23	+9.8%	-10.9%
Q4 23	+4.2%	-27.5%
Q1 24	+27.7%	+10.1%
Q2 24	+40.6%	+24.0%
Q3 24	+31.5%	+31.9%
Q4 24	+26.6%	+18.5%
Q1 25	+13.5%	+10.4%
Q2 25	+10.6%	+8.4%
Q3 25	+10.7%	+5.2%
Q4 25	+2.7%	+16.8%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$154M	17.6%
Q2 22	$177M	17.8%
Q3 22	$221M	21.0%
Q4 22	$199M	17.0%
Q1 23	$180M	18.0%
Q2 23	$114M	11.2%
Q3 23	$99M	8.5%
Q4 23	$92M	7.5%
Q1 24	$80M	6.3%
Q2 24	$86M	6.0%
Q3 24	$89M	5.8%
Q4 24	$76M	4.9%
Q1 25	$93M	6.4%
Q2 25	$82M	5.2%
Q3 25	$67M	4.0%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q1 22	$193M	$217M	$126M
Q2 22	$202M	$266M	$141M
Q3 22	$228M	$293M	$134M
Q4 22	$235M	$511M	$131M
Q1 23	$197M	$257M	$116M
Q2 23	$155M	$201M	$109M
Q3 23	$109M	$195M	$130M
Q4 23	$95M	$218M	$126M
Q1 24	$100M	$236M	$145M
Q2 24	$99M	$253M	$176M
Q3 24	$104M	$253M	$216M
Q4 24	$94M	$195M	$251M
Q1 25	$112M	$215M	$182M
Q2 25	$109M	$232M	$191M
Q3 25	$110M	$251M	$243M
Q4 25	$120M	$304M	$259M

Rule of 40

Quarter	Rev Growth %	EBITDA Margin %	Rule of 40
Q1 22	53.6%	-18.0%	35.6
Q2 22	62.7%	-34.6%	28.1
Q3 22	37.7%	-36.1%	1.6
Q4 22	35.9%	-44.5%	-8.5
Q1 23	14.3%	-15.2%	-0.9
Q2 23	3.0%	-7.5%	-4.5
Q3 23	9.8%	2.0%	11.9
Q4 23	4.2%	1.3%	5.6
Q1 24	27.7%	0.8%	28.5
Q2 24	40.6%	3.6%	44.3
Q3 24	31.5%	2.6%	34.1
Q4 24	26.6%	6.5%	33.1
Q1 25	13.5%	3.1%	16.7
Q2 25	10.6%	5.0%	15.6
Q3 25	10.7%	4.9%	15.6
Q4 25	2.7%	-6.6%	-3.9

Rule of 40

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$215M	$2.0B	$2.2B
Q2 22	$239M	$1.6B	$1.8B
Q3 22	$144M	$1.6B	$1.8B
Q4 22	$281M	$1.5B	$1.8B
Q1 23	$510M	$1.2B	$1.8B
Q2 23	$638M	$1.1B	$1.7B
Q3 23	$591M	$1.1B	$1.7B
Q4 23	$559M	$1.1B	$1.7B
Q1 24	$508M	$1.2B	$1.7B
Q2 24	$604M	$1.2B	$1.8B
Q3 24	$770M	$1.2B	$1.9B
Q4 24	$759M	$1.2B	$2.0B
Q1 25	$985M	$1.2B	$2.2B
Q2 25	$914M	$878M	$1.8B
Q3 25	$1.3B	$687M	$2.0B
Q4 25	$1.1B	$705M	$1.8B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	347M	+2.6%	+10.2%
Q2 22	351M	+1.1%	+7.5%
Q3 22	356M	+1.7%	+7.3%
Q4 22	370M	+3.8%	+9.6%
Q1 23	374M	+1.0%	+7.8%
Q2 23	382M	+2.2%	+8.9%
Q3 23	389M	+1.9%	+9.2%
Q4 23	400M	+2.7%	+8.0%
Q1 24	402M	+0.4%	+7.4%
Q2 24	412M	+2.6%	+7.9%
Q3 24	412M	+0.1%	+5.9%
Q4 24	414M	+0.3%	+3.5%
Q1 25	424M	+2.5%	+5.6%
Q2 25	423M	-0.3%	+2.7%
Q3 25	413M	-2.4%	+0.1%
Q4 25	418M	+1.2%	+1.0%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$196.6K	4K
Q2 22	$222.5K	4K
Q3 22	$236.7K	4K
Q4 22	$265.9K	4K
Q1 23	$226.4K	4K
Q2 23	$231.0K	4K
Q3 23	$261.9K	4K
Q4 23	$415.8K	3K
Q1 24	$433.7K	3K
Q2 24	$487.6K	3K
Q3 24	$517.0K	3K
Q4 24	$528.4K	3K
Q1 25	$494.3K	3K
Q2 25	$541.3K	3K
Q3 25	$574.4K	3K
Q4 25	$407.0K	4K

Revenue / Employee