Lyft, Inc.

Listed Company

LYFTCIK 0001759509NasdaqLarge AcceleratedServices-Business Services, NecDelawareFY ends Dec 31

Period

FY 2025

Revenue

$6.32B

Net Income

$2.84B

Total Assets

$9.03B

Equity

$3.27B

Shares Out

398.11M

Op. Cash Flow

$1.17B

Business

Lyft, Inc. operates a multimodal transportation network that connects riders and drivers through its mobile application and proprietary technology platform. The company offers on-demand ridesharing, shared bikes and scooters (Light Vehicles), vehicle rental programs for drivers (Express Drive), subscription and business services such as Price Lock, Lyft Business, Concierge and Lyft Pass, plus licensing, advertising and data access agreements. Key business segments include its ridesharing marketplace, Express Drive vehicle rental program and Light Vehicles micromobility offerings. Lyft distributes services across cities in the United States and select cities in Canada through the Lyft App and partnerships with fleet and city operators.

Summary from filing dated 2025-02-14

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenue	6,316	5,786	4,404	4,095	3,208
Cost of revenue	3,698	3,338	2,544	2,436	1,702
Operations and support	478	444	427	444	402
Research and development	451	397	556	857	912
Sales and marketing	875	789	481	532	411
General and administrative	1,002	937	871	1,286	916
Total costs and expenses	6,505	5,905	4,879	5,554	4,344
Loss from operations	−188	−119	−476	−1,459	−1,135
Interest expense	−21	−29	−26	−20	—
Other income, net	156	173	170	−100	136
(Loss) income before income taxes	−53	25	−332	−1,579	−1,051
(Benefit from) provision for income taxes	−2,897	3	9	6	11
Net income (loss)	2,844	23	−340	−1,585	−1,062
Basic (in dollars per share)	6.92	0.06	−0.88	−4.47	−3.17
Diluted (in dollars per share)	6.81	0.06	−0.88	−4.47	−3.17
Basic (in shares)	411	409	385	355	335
Diluted (in shares)	418	414	385	355	335

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	1,132	759	559	281	457
Short-term investments	705	1,225	1,127	1,516	1,797
Prepaid expenses and other current assets	1,082	966	892	786	522
Total current assets	2,920	2,951	2,577	2,583	2,776
Restricted cash and cash equivalents	705	187	212	109	73
Restricted investments	1,231	1,355	837	1,028	1,045
Other investments	47	43	40	26	80
Property and equipment, net	419	445	466	313	298
Operating lease right-of-use assets	166	148	98	135	223
Intangible assets, net	179	43	60	76	51
Goodwill	440	251	258	262	181
Deferred tax assets	2,906	435,000	—	—	—
Other assets	18	12	17	24	46
Total assets	9,030	5,435	4,564	4,556	4,774
Accounts payable	120	98	72	108	130
Insurance reserves	2,180	1,701	1,338	1,417	1,069
Accrued and other current liabilities	2,197	1,666	1,509	1,562	1,264
Operating lease liabilities, current	28	25	43	46	54
Convertible senior notes, current	0	390	0	—	—
Total current liabilities	4,526	3,881	2,962	3,133	2,516
Operating lease liabilities	160	152	134	176	210
Long-term debt, net of current portion	1,002	566	839	803	655
Other liabilities	68	69	88	56	51
Total liabilities	5,757	4,668	4,023	4,168	3,433
Commitments and contingencies (Note 10.)	—	—	—	—	—
Preferred stock, $0.00001 par value; 1,000,000 shares authorized as of December 31, 2025 and December 31, 2024; no shares issued and outstanding as of December 31, 2025 and 2024	0	0	0	0	0
Common stock, $0.00001 par value; 18,000,000 Class A shares authorized as of December 31, 2025 and 2024; 400,856 and 409,474 Class A shares issued and outstanding as of December 31, 2025 and 2024, respectively; 87,220 and 100,000 Class B shares authorized as of December 31, 2025 and 2024; no Class B shares issued and outstanding as of December 31, 2025 and 8,531 Class B shares issued and outstanding as of December 31, 2024	4,000	4,000	4,000	4,000	3,000
Additional paid-in capital	10,687	11,035	10,827	10,335	9,706
Accumulated other comprehensive income (loss)	625,000	−10	−5	−6	−3
Accumulated deficit	−7,414	−10,258	−10,281	−9,941	−8,363
Total stockholders equity	3,274	767	542	389	1,341
Total liabilities and stockholders equity	9,030	5,435	4,564	4,556	4,774

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	135	149	117	155	139
Stock-based compensation	322	331	485	751	725
Deferred income tax	−2,895	−2	−2	—	—
Amortization of premium on marketable securities	307,000	284,000	117,000	3	4
Accretion of discount on marketable securities	−69	−89	−68	−23	−2
Amortization of debt discount and issuance costs	4	4	3	3	36
Loss (gain) on sale and disposal of assets, net	8	8	−11	−61	6
Gain on lease termination	0	−30	0	0	—
Other	−9	2	−4	24	3
Prepaid expenses and other assets	−51	−76	−87	−276	−207
Operating lease right-of-use assets	27	26	20	96	61
Accounts payable	22	22	−41	−27	47
Insurance reserves	479	364	−79	349	82
Accrued and other liabilities	386	166	−74	262	234
Lease liabilities	−33	−47	−15	−44	−48
Net cash provided by (used in) operating activities	1,168	850	−98	−237	−102
Purchases of marketable securities	−3,345	−4,177	−3,289	−4,050	−3,802
Purchases of term deposits	0	−4	−4	−14	−458
Proceeds from sales of marketable securities	728	233	452	677	513
Proceeds from maturities of marketable securities	3,330	3,415	3,481	3,309	3,259
Proceeds from maturities of term deposits	2	6	9	395	675
Purchases of property and equipment and scooter fleet	−53	−83	−150	−115	−79
Sales of property and equipment	53	92	93	130	43
Cash paid for acquisitions, net of cash acquired	−307	0	2	−146	3,000
Other investing activities	−1	1	6	0	−2
Net cash provided by (used in) investing activities	407	−518	600	186	267
Repayment of loans	−62	−84	−72	−68	−44
Payment for settlement of convertible senior notes due 2025	−391	−350	0	0	—
Proceeds from issuance of convertible senior notes	500	460	0	0	0
Payment of debt issuance costs	−12	−12	0	0	0
Purchase of capped calls	−42	−48	0	0	—
Repurchase of Class A common stock	−500	−50	0	0	—
Proceeds from exercise of stock options and other common stock issuances	15	15	11	22	34
Taxes paid related to net share settlement of equity awards	−151	−40	−3	−7	−26
Principal payments on finance lease obligations	−41	−47	−43	−35	−36
Contingent consideration paid	0	0	−14	0	0
Other financing activities	−490,000	0	0	0	−2,000
Net cash used in financing activities	−686	−156	−122	−88	−72
Effect of foreign exchange on cash, cash equivalents and restricted cash and cash equivalents	2	−2	533,000	−631,000	−113,000
Net increase in cash, cash equivalents and restricted cash and cash equivalents	891	174	380	−139	93
Cash paid for income taxes	7	11	9	11	6
Cash paid for interest	20	28	20	17	17
Financed vehicles acquired	78	84	127	48	57
Purchases of property and equipment and scooter fleet not yet settled	4	11	5	32	12
Right-of-use assets acquired under finance leases	30	45	79	11	27
Right-of-use assets acquired under operating leases	21	8	4	498,000	7
Remeasurement of finance and operating lease right-of-use assets	−6	55	−11	−321,000	58,000
Repurchase of Class A common stock, including excise tax, accrued and not yet paid	3	0	0	—	—

Filings

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