Lyft, Inc. reported significant financial performance improvements in its latest quarterly filing, with revenue reaching $1.59 billion for the three months ended June 30, 2025, an increase of 11% from $1.44 billion in the same period last year. The company achieved a net income of $40.3 million, a substantial rise from $5.0 million in the prior year, marking a 704% increase. For the first half of 2025, Lyft's revenue totaled $3.04 billion, up 12% from $2.71 billion in the first half of 2024. The company also reported a notable increase in adjusted EBITDA, which rose to $129.4 million, reflecting a 26% increase year-over-year.
In terms of operational metrics, Lyft saw a 10% increase in active riders, totaling 26.1 million, and a 14% rise in rides completed, reaching 234.8 million. Gross bookings also increased by 12% to $4.49 billion, driven by improved marketplace health and increased ride frequency. The company’s focus on cost discipline is evident, as total costs and expenses grew at a slower rate of 8%, allowing for a significant improvement in profitability.
Strategically, Lyft completed the acquisition of Intelligent Apps GmbH (d/b/a Freenow) on July 31, 2025, marking its first expansion into the European market. The acquisition was valued at approximately €204.1 million in cash. This move is part of Lyft's broader strategy to diversify its offerings and enhance its competitive position in the global mobility market. Additionally, Lyft's board of directors authorized a share repurchase program totaling $750 million, with $200 million already utilized in the first half of 2025.
The company reported a cash position of approximately $913.8 million in cash and cash equivalents, alongside $878.3 million in short-term investments as of June 30, 2025. Lyft's liquidity is further supported by a revolving credit facility of $420 million, which remains undrawn. The company anticipates continued growth in revenue and profitability, driven by increased ride volume and improved operational efficiencies, while also managing the impacts of rising insurance costs and market conditions.
About Lyft, Inc.
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