Lyft, Inc. reported a significant increase in financial performance for the third quarter of 2025, with total revenue reaching $1.685 billion, an 11% increase from $1.523 billion in the same period last year. The company achieved a net income of $46.1 million, compared to a net loss of $12.4 million in the prior year, marking a 471% improvement. For the nine months ending September 30, 2025, Lyft's revenue also grew by 12% to $4.724 billion, up from $4.236 billion in 2024. The company attributed this growth to an increase in rides and active riders, which rose by 15% and 18%, respectively, alongside improved marketplace health and international expansion.
In terms of operational metrics, Lyft reported 248.8 million rides completed in the third quarter, a 15% increase from 216.7 million rides in the same quarter of 2024. The number of active riders also increased to 28.7 million, up from 24.4 million year-over-year. Lyft's gross bookings for the quarter were $4.78 billion, reflecting a 16% increase compared to the previous year. The company’s adjusted EBITDA for the quarter was $138.9 million, a 29% increase from $107.3 million in the prior year, indicating improved operational efficiency.
Lyft's strategic developments included the acquisition of Intelligent Apps GmbH (Freenow) for approximately $234.8 million, which marks the company's first expansion outside North America. This acquisition is expected to enhance Lyft's presence in the European market. Additionally, on October 14, 2025, Lyft completed the acquisition of TBR Global Chauffeuring for approximately £83 million, further diversifying its service offerings. The company also repurchased $400 million of its Class A common stock during the nine months ended September 30, 2025, as part of its ongoing share repurchase program.
The company’s total assets increased to $5.943 billion as of September 30, 2025, up from $5.435 billion at the end of 2024. Lyft's cash and cash equivalents stood at $1.306 billion, a significant increase from $759.3 million at the end of the previous fiscal year. However, total liabilities also rose to $5.370 billion, up from $4.668 billion, primarily due to increased insurance reserves and long-term debt. Lyft's outlook remains cautiously optimistic, with expectations of continued revenue growth driven by increased ride volume and strategic investments, although the company acknowledges potential challenges related to market conditions and regulatory changes.
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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