Lyft, Inc.

LYFT Technology Software Application

Lyft, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $6.3 billion, up 9.16% from fiscal 2024.

Revenue
+16.1%
EPS
+30.0%
Free cash flow
−1.89%
Total debt
+88.1%

Quarter to June 2026, against a year earlier

17.89 0.85 −4.54%
Market cap
$6.8B
P/E
2.6×
Fwd P/E
29.7×
Dividend yield
—
F-score
3/9
Altman Z
0.10
Beneish M
n/a
Dividend safety
n/a

Lyft, Inc. (LYFT) Earnings & Analysis

Updated · Covers results through Q2 FY2026 · Earnings call · How this is made

Latest quarter

Lyft reported Q2 FY2026 revenue of $1.8 billion, above the consensus by 1.73%, although both figures rounded to $1.8 billion. Adjusted earnings per share of $0.29 missed the consensus estimate of $0.39.

Revenue rose 16.1% from $1.6 billion a year earlier. In its filing, Lyft attributed the increase primarily to more rides and active riders and to international expansion. The company said it increased investments in driver supply to maintain marketplace balance; those investments reduce revenue.

Lyft reported diluted earnings per share of $0.13, up from $0.10 a year earlier. Gross margin rose to 49.7% from 41.1%, while operating margin increased to 2.58% from 0.15%. The filing said cost of revenue was relatively flat, as lower insurance costs were offset by higher ride volume. Lyft also said sales and marketing expenses rose, primarily because of investments in rider engagement.

Free cash flow was $340.5 million, compared with $347.1 million a year earlier.

Q2 FY2026 Q2 FY2025 Change
Revenue $1.8 billion $1.6 billion 16.1%
Diluted EPS $0.13 $0.10 30.0%
Gross margin 49.7% 41.1% 8.7 percentage points
Operating margin 2.58% 0.15% 2.4 percentage points
Free cash flow $340.5 million $347.1 million −1.89%
Against the consensus Reported Consensus Result
Adjusted EPS $0.29 $0.39 Missed by 25.6%
Revenue $1.8 billion $1.8 billion Beat by 1.73%

Adjusted EPS is the figure the consensus estimates, not the GAAP EPS above.

What management said on the call

Lyft’s latest earnings call commentary was not available for review.

Guidance

In its filing, Lyft said it expects cost of revenue to increase year over year in the near term as insurance costs rise. It expects total insurance costs to grow at a lower rate than historically because California’s rideshare insurance reform reduces its insurance rate in the state.

Metric For Guide Previous guide Change
EBITDA growth, Non Gaap; margin as percentage of gross bookings Q3 FY2026 3.30%–3.60% — New
EBITDA, non-GAAP Q3 FY2026 $183.0 million–$203.0 million — New
Bookings Q3 FY2026 $5.5 billion–$5.7 billion — New
EBITDA, non-GAAP Q3 FY2026 Lyft expects its adjusted EBITDA margin to expand quarter over quarter in Q3 FY2026. — —