Lyft Inc. reported a revenue of $6.32 billion for the fiscal year 2025, marking a 9% increase compared to the $5.79 billion reported in 2024. The company achieved a net income of $2.84 billion, a significant turnaround from the $22.8 million net income in the previous fiscal year. This substantial increase in net income is primarily attributed to a $2.9 billion benefit from the release of a valuation allowance on U.S. federal and certain state deferred tax assets during the fourth quarter of 2025. Key operational metrics also showed positive trends, with active riders increasing by 18% to 29.2 million in the fourth quarter, and total rides increasing by 14% to 945.5 million for the year.
Strategic developments for Lyft in 2025 included international expansion through the acquisitions of Intelligent Apps GmbH (Freenow) in July and TheBookingRoomGroup Limited (TBR Global Chauffeuring) in October. These acquisitions extended Lyft's operations beyond North America, establishing a presence in nine new countries and over 180 cities in Europe, and adding a global luxury chauffeuring service operating in thousands of cities across six continents. These acquisitions contributed to an increase in gross bookings, which rose by 15% to $18.51 billion, compared to $16.10 billion in the previous year. Adjusted EBITDA also saw a significant increase of 38%, reaching $528.8 million, with the adjusted EBITDA margin improving to 2.9% of gross bookings.
Key operational developments included enhancements to the Lyft platform and expansion of service offerings. The company continued to focus on improving marketplace health, which contributed to the growth in active riders and rides. Lyft also emphasized driver engagement and retention, although investments in driver supply, recorded as a reduction to revenue, decreased by $121.4 million due to organic growth in driver supply. However, revenue was negatively impacted by $168 million due to certain legal, tax, and regulatory reserve changes and settlements.
Looking ahead, Lyft anticipates fluctuations in revenue based on factors such as ride volume, driver supply, pricing strategies, and seasonal demand for bikes and scooters. The company expects cost of revenue to increase in the near term due to higher insurance costs, but anticipates a lower rate of increase in the future due to rideshare insurance reform. Lyft also plans to continue investing in new offerings and platform features, while managing expenses to achieve profitability and positive cash flow on a consistent basis. The company authorized a new share repurchase program for the repurchase of up to $1.0 billion of the Company’s Class A common stock, in addition to amounts remaining available under its existing repurchase program.
About Lyft, Inc.
Lyft, Inc. operates a multimodal transportation network connecting riders and drivers via a mobile app. Its core offerings include ridesharing, bike and scooter sharing, and related services. The company focuses on customer choice, safety, and sustainability, leveraging advanced technology and data analytics. Serving North American markets, Lyft emphasizes social responsibility, driver flexibility, and environmental initiatives to differentiate and grow its platform.
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