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The sale represented 2% of the executive's direct equity holdings prior to the transaction. All shares were held directly by the insider, with a portion of the remaining stake managed through a living trust.

SAN FRANCISCO--(BUSINESS WIRE)--Lyft, Inc. (Nasdaq: LYFT) announced today that David Risher, Chief Executive Officer, will participate in a fireside chat at the Goldman Sachs Communacopia + Technology Conference 2026 in San Francisco, CA, on Thursday, September 10, 2026 at 1:45 p.m. PT.A live webcast of the event will be available on the investor relations section of the Lyft website at http://investor.lyft.com.About LyftWhether it's an everyday commute or a journey that changes everything, Lyft.

Stephen W. Hope, Chief Accounting Officer of Lyft, Inc. (LYFT -0.92%), sold 5,982 shares of Class A Common Stock on August 27, 2026, according to a recent SEC Form 4 filing.

Transaction summaryMetricValueShares sold (Directly held)5,982Transaction value~$104,000Post-transaction shares (directly held)299,974Post-transaction value$5.2 millionTransaction value based on SEC Form 4 weighted average sale price ($17.34); post-transaction value based on August 27, 2026 market close ($17.35).

Key questionsWhat was the nature of this executive disposition?
The sale was conducted under a Rule 10b5-1 trading plan that Stephen Hope established on September 4, 2025, which allows insiders to set up a pre-arranged schedule for selling stocks to avoid potential conflicts of interest, given their access to material non-public information.How does this impact the insider's total equity position?
The disposal of 5,982 shares represents a minor adjustment to the position, and the insider maintains a significant direct equity stake in the company.What is the current market valuation of the remaining stake?
Based on the August 28, 2026 market close price of $17.70, the remaining direct holdings are valued at approximately $5.3 million.Are there additional equity incentives involved?
The filing indicates that the reported holdings include restricted stock units, which represent contingent rights to receive Class A Common Stock upon vesting.Company OverviewMetricValueShare Price (as of market close 2026-08-28)$17.70Market Capitalization$6.7 billionRevenue (TTM)$6.8 billionNet Income (TTM)$2.9 billionCompany SnapshotLyft operates a comprehensive on-demand transportation platform offering ridesharing services, vehicle rentals through Express Drive, and consumer rental solutions across the United States and Canada, generating revenue primarily through commissions on ride transactions and rental services.The company operates a two-sided marketplace model that connects drivers with passengers, capturing value through platform fees while providing flexible earning opportunities for drivers and convenient mobility access for consumers.Lyft serves individual consumers seeking on-demand transportation and drivers seeking flexible earning opportunities, with a primary focus on urban and suburban markets across North America.Lyft is a leading mobility platform operator with a market cap of $6.7 billion and trailing 12-month revenues of $6.8 billion, demonstrating substantial scale within the on-demand transportation sector.

The company leverages its multimodal network and technology infrastructure to differentiate itself in a competitive market, offering integrated solutions that address both consumer and driver needs across multiple transportation categories. With demonstrated profitability, Lyft has established a sustainable business model centered on platform efficiency and network effects.

What this transaction means for investorsChief Accounting Officer Stephen Hope's Aug. 27 sale of Lyft stock occurred at a time when shares moved higher after the company reported second-quarter earnings results that beat Wall Street revenue estimates.

While Hope's timing was fortuitous, the sale was a non-discretionary transaction, executed as part of a pre-established Rule 10b5-1 plan. This means the disposition was scheduled in advance rather than being a market-timed investment decision.

Hope retained nearly 300,000 shares post-transaction. The sizable equity stake ensures continued alignment with shareholder interests.

Lyft reported excellent 23% year-over-year growth in Q2 gross bookings to $5.5 billion as the company exceeded a record 30 million global riders. This contributed to Lyft's sales rising 16% year over year to $1.8 billion.

For the third quarter, the company estimates gross bookings to come in at $5.5 billion again or higher. Lyft is also partnering with Alphabet-owned Waymo to deliver autonomous ride hailing services, which started in Nashville this past June.

Robert Izquierdo has positions in Alphabet. The Motley Fool has positions in and recommends Alphabet and Lyft. The Motley Fool has a disclosure policy.

Erin Brewer, Chief Financial Officer of Lyft, Inc. (LYFT +2.02%), sold 15,000 shares of Class A Common Stock on August 24, 2026, as disclosed in a recent SEC Form 4 filing.

Transaction summaryMetricValueTransaction value~$264,000Shares sold (indirectly held)15,000Post-transaction shares (total)1,709,444Post-transaction shares (directly held)857,141Post-transaction shares (indirectly held)852,303Post-transaction value$30.2 millionTransaction value based on SEC Form 4 weighted average sale price ($17.63); post-transaction value based on August 24, 2026 market close ($17.68).

Key questionsWhat was the nature of this executive disposition?
The sale was conducted pursuant to a Rule 10b5-1 trading plan that Brewer adopted on March 13, 2026. This plan allowed for the automated execution of trades at predetermined intervals to manage the insider's equity holdings.How is the insider's remaining ownership structured?
Following this transaction, Brewer maintains a balanced portfolio consisting of 857,141 shares held directly and 852,303 shares held indirectly through the Erin M. Brewer 2022 Trust. Some of the insider's directly held shares are derivative securities in the form of restricted stock units (RSUs), which represent a contingent right to receive additional Class A Common Stock upon vesting.What is the recent performance context for the stock at the time of sale?
The sale occurred with the stock having achieved a 4% one-year return as of the August 24, 2026 transaction date. As of the August 25, 2026 market close, the share price was $17.65, which is consistent with the weighted-average execution price of $17.63 reported in this filing.Company OverviewMetricValueShare Price (as of market close 2026-08-25)$17.65Market Capitalization$6.7 billionRevenue (TTM)$6.8 billionNet Income (TTM)$2.9 billionCompany SnapshotLyft operates a comprehensive on-demand transportation platform that connects drivers with passengers through its ridesharing marketplace, while generating revenue from ride commissions, driver incentives, and ancillary services including Express Drive vehicle rentals and consumer rental offerings.The company employs a network-based business model that monetizes the connection between supply (drivers) and demand (passengers) across the United States, Canada, and Europe, capturing value through transaction fees and service premiums on its multimodal mobility platform.Lyft's primary customers consist of urban and suburban consumers seeking convenient point-to-point transportation, as well as drivers seeking flexible income opportunities, with the platform serving as an essential mobility solution across major metropolitan markets in North America and Europe.Lyft, Inc. operates as a leading on-demand transportation platform with a market cap of $6.7 billion and trailing 12-month revenues of $6.8 billion, demonstrating substantial scale within the mobility sector.

The company's competitive positioning is anchored in its diversified service offerings, which extend beyond core ridesharing to include vehicle rental programs and flexible driver compensation structures. Lyft maintains a strategic focus on leveraging its multimodal network to capture market share in the highly competitive transportation-as-a-service industry.

What this transaction means for investorsLyft CFO Erin Brewer's Aug. 24 sale of company stock for $17.63 per share came at a time when the stock had clawed back from a 52-week low of $12.46 reached in March. Shares rose after the ride-hailing giant reported earnings for the second quarter, thanks to strong revenue and ridership growth.

Even so, Brewer's sale represents a non-discretionary transaction, executed under a Rule 10b5-1 trading plan. Such plans allow insiders to sell shares at pre-determined times to avoid concerns of trading on non-public information.

Brewer also retained a significant equity stake in Lyft, post-disposition. She had 1.7 million shares, with about half held indirectly in a trust, and the rest directly. This indicates her interests remain aligned with shareholders.

Lyft's stock price increase was prompted by strong 23% year-over-year growth in gross bookings as the company exceeded 30 million global riders, its highest total yet. This contributed to Lyft's sales rising 16% year over year to $1.8 billion.

Robert Izquierdo has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Lyft. The Motley Fool has a disclosure policy.

After a stint on the high-yield desk at Goldman Sachs, David Tepper launched the hedge fund Appaloosa Management in the early 1990s. Over the last couple of decades, Tepper has generated an average annual return in the mid to high 20% range -- highlighted by an outsize performance in 2009 after he bought distressed bank securities near their lows during the financial crisis.

Combined with his ownership of the Carolina Panthers football team, Tepper's fortune has made him an investment personality whose moves are dissected for clues about the market's direction. During the second quarter, Appaloosa's 13F filing with the Securities and Exchange Commission showed that the firm fully exited its position in Lyft (LYFT +0.40%) while simultaneously adding more than 1.3 million shares of its ride-hailing rival, Uber Technologies (UBER +0.32%). Uber is now one of Appaloosa's five largest positions, representing about 7% of the portfolio.

Investors watching Tepper closely see this transaction as more than a simple rotation. Rather, it reflects a calculated judgment about relative competitive strength and long-term value creation in an intense ridesharing and delivery landscape.

David Tepper. Image source: Getty Images.

Breaking down Tepper's Lyft trade According to filings, Appaloosa initiated its stake in Lyft during the first quarter of 2024, buying 467,618 shares. Throughout the rest of the year, its position grew to 13.5 million shares. While Tepper held the stock for roughly two years, his fund steadily pruned the position throughout 2025 and fully exited during the second quarter of this year.

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I think the decision to exit was influenced less by any problems at the company and more by a broader desire for sharper focus in the industries in which Lyft operates. The company continues to post respectable growth in rides and gross bookings, but it remains a much narrower service provider whose scale lags that of Uber.

Analyzing Uber's business results Uber and Lyft compete in overlapping markets, yet Uber's more-diversified platform and stronger financial momentum make it a more compelling long-term holding. During the second quarter, it reported gross bookings of $58 billion, up 24% year over year. The number of trips grew 18% to 3.9 billion, driven by robust growth in monthly active platform consumers (MAPCs).

These performance metrics translated to 33% growth in earnings before interest, taxes, depreciation, and amortization. Free cash flow for the quarter totaled $2.8 billion, lifting Uber's trailing-12-month free cash flow above $10 billion for the first time. This performance proves Uber commands impressive operating leverage across its mobility and delivery segments, both of which are supported by the company's expanding higher-margin advertising services.

Should you buy Uber stock right now? The consensus price target for Uber among Wall Street analysts is $101, implying roughly 30% upside to current trading levels. This disconnect between the share price and Wall Street's forecast can largely be explained by persistent anxiety over the disruption promised by autonomous vehicle (AV) fleets.

Expanding services from Alphabet's Waymo and Tesla's Robotaxi have come with a perception of increased competitive pressures. This has resulted in significant multiple compression relative to Uber's historical valuation profile. Nevertheless, management is quietly scaling up its own AV partnerships and targeting several cities for launches over the coming quarters.

UBER PE Ratio data by YCharts; PE = price to earnings.

Uber's network effects, global footprint, and proven ability to convert rider and order volumes into expanding margins provide a durable foundation that robotaxi fears shouldn't erode overnight (if at all). The combination of accelerating free cash flow, an attractive valuation, and its model for adapting to embrace autonomous vehicles creates an asymmetric opportunity most investors appear to be overlooking.

Uber's Q2 earnings beat, strong bookings growth, diversification and AV partnerships give it an edge over Lyft despite the latter's cheaper valuation.

By

Shubhangi Goel

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The former Uber CEO said the two companies were culturally just too different.

Theo Wargo/WireImage

Uber and Lyft were just not meant to be, says Travis Kalanick.

In an Andreessen Horowitz interview released on Friday, the former Uber CEO said he has no regrets about how he handled a potential acquisition of Lyft.

"I wouldn't do anything different. And it's easy to say now, but I got a lot of shit for that for a long time," he said. "I would sit across the table from the guys, and it was just clear that we were very culturally different."

Uber held acquisition talks to buy its rival Lyft in 2014. The negotiations fell apart because Kalanick refused to pay more than $2 billion, while Lyft was seeking a higher valuation. In Friday's interview, Kalanick said that cultural mismatch was a problem too, and it started with Lyft's pink mustache effort.

In 2012, Lyft introduced a giant plush pink mustache on its car grilles to make its vehicles instantly recognizable and reinforce a playful brand that contrasted with taxis and Uber. The quirky "carstache" fit Lyft's image of ride-hailing as a social experience, but it became less suitable as the company sought business customers. Lyft began moving away from the oversize mustache around 2014, replacing it with subtler, more practical ways to identify the correct car.

The former Uber CEO, who recently launched robotics company Atoms, said that he had wanted the Lyft acquisition to go through.

"When you meet with somebody, and you're going to acquire them, there's so much goodness that could come from it," he said. He added that he wanted it to work because Uber was spending an "insane amount of money" trying to compete with Lyft for market share and price.

Kalanick resigned as Uber CEO in June 2017 following months of turmoil at the company, after which major investors demanded his removal.

Dara Khosrowshahi was appointed CEO later that year, with a mandate to remake Uber's culture and prepare the company for an eventual public listing.

Still, on Friday, Kalanick said: "I'd stand by every decision I made at Uber."

In March, Kalanick rebranded an earlier venture as Atoms, an industrial AI company automating food, mining, and transportation with robotics. Atoms announced a $1.7 billion equity funding round in July 2026, led by A16z, with participation from Bain Capital and Fifth Wall. A16z's Ben Horowitz joined Atoms' board as part of the deal.

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Shubhangi Goel

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Posted by Defense World Staff on Aug 13th, 2026

Assenagon Asset Management S.A. raised its stake in Lyft, Inc. (NASDAQ:LYFT – Free Report) by 27.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 240,455 shares of the ride-sharing company’s stock after purchasing an additional 52,229 shares during the period. Assenagon Asset Management S.A. owned 0.06% of Lyft worth $3,513,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. University of Texas Texas AM Investment Management Co. bought a new stake in shares of Lyft in the fourth quarter valued at about $26,000. Boreal Capital Management LLC acquired a new position in shares of Lyft in the first quarter valued at about $31,000. Bessemer Group Inc. increased its position in Lyft by 1,851.9% during the first quarter. Bessemer Group Inc. now owns 2,635 shares of the ride-sharing company’s stock worth $35,000 after acquiring an additional 2,500 shares during the period. International Assets Investment Management LLC acquired a new stake in Lyft in the 4th quarter worth about $40,000. Finally, Huntington National Bank boosted its holdings in Lyft by 171.8% in the 4th quarter. Huntington National Bank now owns 2,174 shares of the ride-sharing company’s stock valued at $42,000 after purchasing an additional 1,374 shares during the period. 83.07% of the stock is owned by institutional investors.

Lyft Trading Down 5.5% Shares of LYFT opened at $16.58 on Thursday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.58 and a current ratio of 0.59. Lyft, Inc. has a 52-week low of $12.46 and a 52-week high of $25.54. The firm has a market cap of $6.30 billion, a price-to-earnings ratio of 2.41, a PEG ratio of 1.04 and a beta of 1.80. The business’s fifty day moving average is $15.11 and its 200-day moving average is $14.50.

Lyft (NASDAQ:LYFT – Get Free Report) last issued its earnings results on Thursday, August 6th. The ride-sharing company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.01). The business had revenue of $1.84 billion for the quarter, compared to analyst estimates of $1.81 billion. Lyft had a negative return on equity of 1.20% and a net margin of 42.32%.The firm’s revenue was up 16.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.10 EPS. Equities analysts anticipate that Lyft, Inc. will post 0.69 EPS for the current fiscal year.

Analyst Upgrades and Downgrades LYFT has been the topic of several recent research reports. Roth Capital reaffirmed a “buy” rating and set a $25.00 target price (up from $23.00) on shares of Lyft in a report on Monday. Morgan Stanley boosted their price target on Lyft from $17.00 to $18.00 and gave the company an “equal weight” rating in a research note on Thursday, July 30th. UBS Group boosted their price target on Lyft from $16.00 to $17.00 and gave the company a “neutral” rating in a research note on Friday, August 7th. Tigress Financial reissued a “buy” rating and set a $28.00 price target on shares of Lyft in a research report on Wednesday, June 24th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Lyft in a research note on Monday, August 3rd. Thirteen equities research analysts have rated the stock with a Buy rating, twenty-two have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $19.80.

Check Out Our Latest Research Report on LYFT

Trending Headlines about Lyft Here are the key news stories impacting Lyft this week:

Positive Sentiment: Strong second-quarter demand supports the growth story. Lyft reported record gross bookings of $5.50 billion, up 23% year over year, while revenue increased 16% to $1.84 billion and exceeded expectations. However, adjusted earnings of $0.13 per share narrowly missed the $0.14 consensus estimate. Lyft Q2 Earnings and Efficiency Analysis Positive Sentiment: Analysts remain constructive, but upside expectations are moderate. Canaccord Genuity raised its Lyft price target to $16 while maintaining a Hold rating. The broader analyst consensus remains Hold, with a target price near $19.80. Canaccord Raises Lyft Price Target Positive Sentiment: Robotaxi partnerships and Price Lock provide longer-term catalysts. Lyft is expanding autonomous-vehicle partnerships and mobility offerings, potentially broadening its network without developing all autonomous-driving technology internally. Lyft AV Partnerships and Price Lock Neutral Sentiment: Insider selling is a limited negative signal. Director Janey Whiteside sold 14,220 shares worth approximately $241,740, but the transaction was made under a pre-arranged Rule 10b5-1 plan. SEC Form 4 Filing Negative Sentiment: Multiple North Carolina lawsuits increase litigation and reputational risk. Plaintiffs, including a Raleigh woman and an alleged assault victim’s family, accuse Lyft and its drivers of negligence in assault and fatal-crash cases. Attorney Ben Crump is also pursuing additional claims. Potential settlements, legal costs and scrutiny of driver screening could pressure future results. North Carolina Lawsuits Against Lyft Negative Sentiment: California drivers cleared a major unionization milestone. Union representation could raise Lyft’s labor, benefit and compliance costs because drivers are generally treated as independent contractors. California Uber and Lyft Driver Unionization Negative Sentiment: Privacy concerns add another headline risk. Reports that Flock Safety considered using Uber and Lyft vehicles as mobile surveillance platforms could trigger public and regulatory criticism, although the proposal was not identified as a confirmed Lyft program. Flock Safety Surveillance Proposal Insider Activity In other news, Director Jill Beggs sold 2,093 shares of Lyft stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $13.76, for a total transaction of $28,799.68. Following the transaction, the director owned 30,092 shares in the company, valued at approximately $414,065.92. The trade was a 6.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Janey Whiteside sold 14,220 shares of the business’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $17.00, for a total transaction of $241,740.00. Following the completion of the sale, the director directly owned 66,184 shares in the company, valued at approximately $1,125,128. This represents a 17.69% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 95,969 shares of company stock worth $1,463,690. Company insiders own 0.92% of the company’s stock.

About Lyft (Free Report)

Lyft, Inc (NASDAQ: LYFT) operates a peer-to-peer ridesharing platform that connects passengers with drivers through a mobile application. Since its founding in 2012, the company has expanded beyond traditional ride-hailing to include bike and electric scooter rentals, while also offering rental cars and public transit options in select markets. Lyft’s platform uses GPS mapping and dynamic pricing algorithms to optimize driver-passenger matches and route efficiency.

Headquartered in San Francisco, California, Lyft primarily serves urban and suburban markets across the United States and Canada.

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Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Key Takeaways Lyft's Q2 rides hit a record 262.4M as gross bookings rose 22.6% year over year to $5.50B.Price Lock users took about four more rides monthly, supporting greater Lyft marketplace engagement.Lyft's AV partnerships limit capital needs, but insurance, higher expenses and robotaxi risks remain. Lyft, Inc. (LYFT - Free Report) ) is trying to expand rides, bookings and cash generation without taking on the full development burden of building autonomous vehicle technology in-house. Its strategy combines autonomous vehicle (“AV”) partnerships, pricing tools such as Price Lock and a larger global marketplace.

The investment case remains balanced. Marketplace scale is improving, but insurance obligations, macro volatility, rising expenses and the risk that robotaxi operators reshape pricing and customer relationships keep the near-term setup from looking one-sided.

Lyft’s AV Partnership Model Limits Capital NeedsLyft is integrating autonomous vehicles through partnerships rather than relying only on internally developed AV technology. In Nashville, Lyft’s Flexdrive is supporting Alphabet’s (GOOGL - Free Report) Waymo’s fleet operations, including vehicle maintenance, infrastructure and depot operations, while Waymo’s autonomous vehicles are expected to serve riders alongside Lyft’s broader driver community.

That model supports Lyft’s hybrid marketplace strategy. Management has framed AVs and human drivers as complementary supply sources, with the company focused on matching riders to the best available option instead of replacing the entire driver network at once. Lyft’s second-quarter update also said Nashville fleet operations officially began in June and that the company is preparing to open an 80,000-square-foot AV depot in October.

Lyft’s European AV push follows the same partnership logic. Lyft and Baidu (BIDU - Free Report) announced plans to deploy Baidu Apollo Go autonomous vehicles in Germany and the United Kingdom beginning in 2026, pending regulatory approval, with Lyft owning the marketplace and operational value chain while Baidu provides vehicles, technology validation and technical support.

LYFT’s Price Lock Drives More Frequent RidesPrice Lock gives commuters a way to cap the price of regular rides for a monthly fee. Lyft says the feature lets riders set a route, request a ride within a selected one-hour window and stay protected during peak-hour price surges.

That predictability can increase ride frequency. Participating riders took roughly four more rides per month than before subscribing, showing how a more dependable commute price may improve marketplace engagement.

The feature also helps Lyft address one of rideshare’s biggest frictions: surge pricing. For regular commuters, a capped price can make Lyft feel more like a planned transportation habit than an occasional purchase.

Lyft’s Marketplace Reaches New RecordsLyft’s marketplace reached new records in the second quarter. Gross bookings rose 22.6% year over year to $5.50 billion, while rides increased to a record 262.4 million and Active Riders climbed to a record 30.5 million.

Growth was broad-based. Lyft cited global strength across Freenow by Lyft in Europe, North American rideshare and Lyft Urban Solutions, indicating that the platform is scaling beyond its core U.S. rideshare business.

The 10-Q adds that Active Rider growth was driven primarily by international expansion, improved retention and overall marketplace health. Rides and gross bookings also benefited from international expansion and marketplace health.

LYFT Converts Scale Into Higher EBITDALyft converted that marketplace scale into higher profitability. Adjusted EBITDA rose 36.9% year over year to $177.2 million, while adjusted EBITDA margin expanded to 3.2% of gross bookings from 2.9% in the year-ago quarter.

Cash generation remained a key support. Free cash flow was $319.6 million in the second quarter, and trailing 12-month free cash flow reached $1.11 billion. Net cash provided by operating activities was $349.9 million for the quarter and $1.20 billion over the trailing 12 months.

That cash flow gives Lyft flexibility to invest in product, partnerships and international expansion while still managing balance-sheet commitments.

Lyft’s Growth Comes With Execution RisksLyft’s risk profile is still substantial. Insurance reserves stood at $2.31 billion as of June 30, 2026, up from $2.18 billion at year-end 2025, underscoring the ongoing cost of auto-related obligations.

Debt and expense growth also matter. Lyft had $990.6 million of long-term debt, net of current portion, and accrued current liabilities included $53.3 million of current long-term debt. Sales and marketing expenses rose to $320 million in the second quarter from $190.9 million a year earlier, while general and administrative expenses increased to $301.6 million from $232.3 million.

Macroeconomic and regulatory uncertainty add another layer. Lyft’s 10-Q highlights risks tied to inflation, macro conditions, insurance reserves, pricing methodologies, competition and third-party relationships.

Robotaxi strategy also cuts both ways. Partnerships reduce capital intensity, but AV operators could eventually exert more influence over pricing, rider relationships and supply availability. That raises the execution bar as Lyft expands its hybrid marketplace.

LYFT’s Scores Reflect a Balanced SetupThe bottom line: Lyft’s AV partnerships, Price Lock and record marketplace scale support the growth case, while higher adjusted EBITDA and free cash flow show better operating leverage.

The stock currently carries a Zacks Rank #3 (Hold), which signals patience despite improving operating metrics. Its VGM Score of A and Value and Growth Scores of B support the factor case, but the Momentum Score of D and unchanged four-week earnings estimate temper the near-term signal. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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Analyst’s Disclosure: I/we have a beneficial long position in the shares of LYFT either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

Key Takeaways Lyft posted record rides and $5.50 billion in gross bookings as Active Riders reached 30.5 million.Adjusted EBITDA rose 36.9% to $177.2 million, with margin expanding to 3.2% from 2.9%.Lyft expects Q3 gross bookings of $5.50-$5.67 billion and adjusted EBITDA of $183-$203 million. Lyft, Inc. (LYFT - Free Report)  reported second-quarter 2026 earnings of 29 cents per share, missing the Zacks Consensus Estimate of 39 cents by 25.6%. Revenues of $1.84 billion beat the consensus estimate of $1.81 billion by 1.8% and rose 16.1% year over year.

Growth was fueled by record rides and gross bookings, while Active Riders reached a record 30.5 million. Adjusted EBITDA also advanced sharply, reflecting stronger operating momentum even as marketing and administrative costs increased.

LYFT Sees Record Ride and Booking ActivityGross bookings were $5.50 billion in the second quarter, increasing 22.6% from $4.49 billion in the year-ago period. Rides climbed 11.8% year over year to 262.4 million, reaching a record level as growth accelerated sequentially.

The company recorded strength across Freenow by Lyft in Europe, North American rideshare and Lyft Urban Solutions. Active Riders grew 16.9% year over year, marking the seventh consecutive quarter of double-digit growth.

Lyft's Profitability Improves on Better Operating ScaleNet income increased 24.7% year over year to $50.3 million. Net income, as a percentage of gross bookings, remained unchanged at 0.9%.

Adjusted EBITDA rose 36.9% to $177.2 million from $129.4 million a year earlier. The adjusted EBITDA margin, measured as a percentage of gross bookings, expanded to 3.2% from 2.9%, highlighting improved profitability alongside the higher transaction volume.

LYFT Faces Higher Marketing and Administrative CostsTotal costs and expenses increased 13.3% year over year to $1.80 billion. Sales and marketing expenses jumped 67.6% year over year to $320.0 million, while general and administrative expenses rose 29.8% to $301.6 million.

Operations and support expenses increased 9.6% year over year to $128.7 million, and research and development costs rose 9.1% year over year to $119.2 million. Cost of revenues, however, declined about 1% to $926.4 million. Income from operations improved sharply to $47.6 million from $2.4 million in the prior-year quarter.

Lyft Maintains Strong Cash GenerationNet cash provided by operating activities totaled $349.9 million compared with $343.7 million a year ago. Free cash flow was $319.6 million, down from $329.4 million in the second quarter of 2025. On a trailing-12-month basis, free cash flow reached $1.11 billion.

Lyft ended June with cash and cash equivalents of $1.14 billion compared with $1.13 billion at the end of 2025. Long-term debt, net of the current portion, declined to $990.6 million from $1.00 billion at year-end.

LYFT Expands Partnerships and Autonomous Vehicle ReachPartnership-linked activity continued to gain importance. Approximately 30% of North American rideshare rides were connected to a partnership during the quarter, an all-time high for the company.

In Nashville, Lyft began fleet operations with Waymo in June and is preparing to open an 80,000-square-foot autonomous vehicle depot in October. Lyft and Curb also expanded their strategic partnership into New York City, broadening transportation choices through established licensed taxi operators.

Lyft Guides for Continued Growth in Q3For the third quarter of 2026, Lyft expects gross bookings between $5.50 billion and $5.67 billion. The range represents anticipated year-over-year growth of approximately 15% to 19%.

Adjusted EBITDA is projected to be between $183 million and $203 million. Lyft expects the adjusted EBITDA margin, calculated as a percentage of gross bookings, to range from 3.3% to 3.6%, indicating continued margin expansion at the midpoint of the outlook.

Currently, Lyft carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Q2 Performance of Some Other Stocks Belonging to LYFT's IndustryUber Technologies(UBER - Free Report) reported mixed second-quarter 2026 results, wherein earnings surpassed the Zacks Consensus Estimate while revenues missed the mark.

Quarterly earnings of $1.17 per share beat the Zacks Consensus Estimate of 83 cents by 41%. The figure surged 85.7% from 63 cents in the year-ago quarter. Revenues increased 12.2% year over year on a reported basis and 11% on a constant currency basis to $14.19 billion but missed the consensus estimate of $14.21 billion by 0.1%.

Adjusted EBITDA advanced 33% to $2.81 billion. Adjusted EBITDA margin as a percentage of gross bookings improved to 4.9% from 4.5%, highlighting faster earnings growth relative to platform transaction growth.

DoorDash (DASH - Free Report) posted second-quarter 2026 earnings of 46 cents per share, down 29.2% year over year and missing the Zacks Consensus Estimate by 8%. 

Revenues increased 35.6% year over year to $4.45 billion and beat the consensus mark by 3.08%. The top line benefited from higher order volume, increased average order value, and the Deliveroo acquisition. Total Orders rose 27% year over year to 970 million, while Marketplace GOV advanced 36% to $33.08 billion. Net revenue margin was 13.5%, unchanged from the year-ago quarter and up from 12.8% in the first quarter of 2026. Revenues, excluding Deliveroo, were $4.07 billion, up 24% year over year.

Lyft CEO David Risher discusses the company's growth compared to Waymo, its plans to expand internationally and where Lyft is focused internally. He speaks with Ed Ludlow on "Bloomberg Tech.

Record Active Riders of over 30 million globally
Growth accelerated in Q2 delivering record Rides and Gross Bookings

SAN FRANCISCO--(BUSINESS WIRE)--Lyft, Inc. (Nasdaq: LYFT) today announced financial results for the second quarter ended June 30, 2026.

“We have surpassed 30 million Active Riders globally, our highest ever, as more people embed Lyft into their everyday lives,” said Lyft CEO David Risher. “This milestone is driven by our customer obsession and operational excellence, and fuels our transformation into a hybrid transportation platform while we deliver strong financial performance. So buckle up, the opportunity ahead is massive, and we’re just getting started.”

“The business delivered acceleration in the second quarter, with growth in Rides and Gross Bookings reaching record levels, alongside continued strong cash generation of over $1 billion for the trailing twelve months,” said CFO Erin Brewer. “These results reflect the strength of our foundation and give us confidence in the road ahead.”

Second Quarter 2026 Financial Highlights

Gross Bookings of $5.5 billion, up 23% year over year. Revenue of $1.8 billion, up 16% year over year. Net income was up 25% year over year to $50.3 million compared to $40.3 million in Q2'25. Net income as a percentage of Gross Bookings of 0.9%, flat compared to Q2'25. Adjusted EBITDA up 37% year over year to $177.2 million compared to $129.4 million in Q2'25. Adjusted EBITDA margin as a percentage of Gross Bookings of 3.2% compared to 2.9% in Q2'25. Net cash provided by operating activities of $349.9 million compared to $343.7 million in Q2'25. For the trailing twelve months, net cash provided by operating activities was $1.2 billion. Free cash flow of $319.6 million compared to $329.4 million in Q2'25. For the trailing twelve months, free cash flow was $1.1 billion. Second Quarter 2026 Operational Highlights

Record Active Riders, our leading indicator of growth, was up 17% year over year to 30.5 million, the 7th consecutive quarter of double-digit growth. Rides accelerated sequentially to record levels, up 12% year over year to 262 million, with global strength across Freenow by Lyft in Europe, North American rideshare, and Lyft Urban Solutions. Approximately 30% of North American rideshare rides were linked to a partnership, an all-time high as we continue to be a good partner and collaborate to create value for our riders and partners. In Nashville, in partnership with Waymo, our fleet operations officially began in June and are running smoothly as we gear up for the opening of our 80,000-square-foot purpose-built AV depot in October. Lyft and Curb expanded their strategic partnership to New York City, the largest taxi market in the U.S., reflecting our strategy of expanding transport options for riders through partnerships with established, licensed operators. Third Quarter 2026 Outlook

Gross Bookings of approximately $5.50 billion to $5.67 billion, up approximately 15% to 19% year over year. Adjusted EBITDA of approximately $183 million to $203 million Adjusted EBITDA margin (calculated as a percentage of Gross Bookings) of approximately 3.3% to 3.6%. We have not provided the forward-looking GAAP equivalent to our non-GAAP outlook or a GAAP reconciliation as a result of the uncertainty regarding, and the potential variability of reconciling items which include, but are not limited to, stock-based compensation, income tax, legal, tax, and regulatory reserve changes and settlements, and costs related to acquisitions. Accordingly, a reconciliation of these non-GAAP guidance metrics to their corresponding GAAP equivalent is not available without unreasonable effort. However, it is important to note that the reconciling items could have a significant effect on future GAAP results. We have provided historical reconciliations of GAAP to non-GAAP metrics in tables at the end of this release. For more information regarding the non-GAAP financial measures discussed in this earnings release, please see “GAAP to non-GAAP Reconciliations” below.

Financial and Operational Results

Three Months Ended

June 30,
2026

March 31,
2026

June 30,
2025

(in millions, except for percentages)

Active Riders

30.5

28.3

26.1

Rides

262.4

236.9

234.8

Gross Bookings

$

5,504.2

$

4,946.0

$

4,490.1

Revenue

$

1,843.5

$

1,650.5

$

1,588.2

Net income

$

50.3

$

14.2

$

40.3

Net income as a percentage of Gross Bookings

0.9

%

0.3

%

0.9

%

Adjusted EBITDA

$

177.2

$

132.8

$

129.4

Adjusted EBITDA margin (calculated as a percentage of Gross Bookings)

3.2

%

2.7

%

2.9

%

Net cash provided by operating activities

$

349.9

$

307.7

$

343.7

Free cash flow

$

319.6

$

287.3

$

329.4

Note: Information on our key metrics and non-GAAP financial measures is also available on our Investor Relations page.

Definitions of Key Metrics

Active Riders

The number of Active Riders is a key indicator of the scale of Lyft’s user community. Lyft defines Active Riders as all unique riders who have taken at least one ride during the quarter. If a ride is requested by another organization or person for the benefit of a rider, that rider is only included in the calculation of Active Riders if the ride is accessible in the rider’s Lyft App.

Rides

Rides represent the level of usage of our multimodal platform. Lyft defines Rides as the total number of rides completed on our multimodal platform that contribute to our revenue. These include any Rides taken through our Lyft App. If multiple riders take a private rideshare ride, including situations where one party picks up another party on the way to a destination, or splits the bill, we count this as a single rideshare ride. Each unique segment of a Shared Ride is considered a single Ride. For example, if two riders successfully match in Shared Ride mode and both complete their Rides, we count this as two Rides. We have largely shifted away from Shared Rides, and now only offer Shared Rides in limited markets. Lyft includes all Rides taken by riders via our Concierge offering, even though such riders may be excluded from the definition of Active Riders unless the ride is accessible in that rider’s Lyft App.

Gross Bookings

Gross Bookings is a key indicator of the scale and impact of our overall platform. Lyft defines Gross Bookings as the total dollar value of transactions including any applicable taxes, tolls and fees, for rides and other offerings provided by Lyft, excluding tips to drivers.

Adjusted EBITDA margin (calculated as a percentage of Gross Bookings)

Adjusted EBITDA margin (calculated as a percentage of Gross Bookings) is calculated by dividing Adjusted EBITDA for a period by Gross Bookings for the same period. For the definition of Adjusted EBITDA, refer to “Non-GAAP Financial Measures”.

Webcast

Lyft will host a webcast today at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) to discuss these financial results and business highlights. Supplemental materials, including management’s prepared remarks, will be available on the Company’s Investor Relations page in advance of the call. To listen to a live audio webcast, please visit our Investor Relations page at https://investor.lyft.com/. The archived webcast will be available on our Investor Relations page shortly after the call.

About Lyft

Whether it’s an everyday commute or a journey that changes everything, Lyft is driven by our purpose: to serve and connect. Founded in 2012, Lyft has grown into a global mobility platform offering a mix of rideshare, taxis, private hire vehicles, executive chauffeur services, car sharing, bikes, and scooters across six continents and thousands of cities. Millions of drivers have chosen to earn on billions of rides - helping to create a more connected world, with transportation options for everyone.

Available Information

Lyft announces material information to the public about Lyft, its products and services and other matters through a variety of means, including filings with the Securities and Exchange Commission, press releases, public conference calls, webcasts, the investor relations section of its website (investor.lyft.com), its X accounts (@lyft and @davidrisher), its Chief Executive Officer’s LinkedIn account (linkedin.com/in/jdavidrisher) and its blogs (including: lyft.com/blog, lyft.com/hub, and eng.lyft.com) in order to achieve broad, non-exclusionary distribution of information to the public and for complying with its disclosure obligations under Regulation FD.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements generally relate to future events or Lyft’s future financial or operating performance. In some cases, you can identify forward looking statements because they contain words such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “going to,” “could,” “intends,” “target,” “projects,” “contemplates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or the negative of these words or other similar terms or expressions that concern Lyft’s expectations, strategy, priorities, plans or intentions. Forward-looking statements in this release include, but are not limited to, Lyft’s guidance and outlook, including expectations for the third quarter of 2026, and the trends and assumptions underlying such guidance and outlook, Lyft’s expectations regarding its share repurchase program, including the timing of repurchases thereunder, Lyft’s strategies and opportunity, Lyft’s plans and expectations regarding its new and existing strategic partnerships, the timing of developments and the benefits such partnerships will provide, Lyft’s expectations regarding its products and features, and Lyft’s expectations regarding AV technology, including the deployment of AVs, and Lyft’s expectations regarding its acquisitions and their anticipated impacts on Lyft’s international operations and financial results, and risks related to their integrations and operations. Lyft’s expectations and beliefs regarding these matters may not materialize, and actual results in future periods are subject to risks and uncertainties that could cause actual results to differ materially from those projected, including risks related to the macroeconomic environment and risks regarding our ability to forecast our performance due to our limited operating history and the macroeconomic environment and the risk that our partnerships may not materialize as expected. The forward-looking statements contained in this release are also subject to other risks and uncertainties, including those more fully described in Lyft’s filings with the Securities and Exchange Commission (“SEC”), including in our Annual Report on Form 10-K for the year ended December 31, 2025 and subsequent Quarterly Reports on Form 10-Q filed with the SEC. The forward-looking statements in this release are based on information available to Lyft as of the date hereof, and Lyft disclaims any obligation to update any forward-looking statements, except as required by law. This press release discusses “customers.” For rideshare, there are generally two customers in every car - the driver is Lyft’s customer, and the rider is the driver’s customer. We care about both.

Non-GAAP Financial Measures

To supplement Lyft's financial information presented in accordance with generally accepted accounting principles in the United States of America, or GAAP, Lyft considers certain financial measures that are not prepared in accordance with GAAP, including Adjusted EBITDA, Adjusted EBITDA margin (calculated as a percentage of Gross Bookings) and free cash flow. Lyft defines Adjusted EBITDA as net income (loss) adjusted for interest expense, other income (expense), net, provision for (benefit from) income taxes, depreciation and amortization, stock-based compensation expense, payroll tax expense related to stock-based compensation, as well as, if applicable, sublease income, gain from lease termination, restructuring charges, costs related to acquisitions, divestitures and other corporate matters, and certain legal, tax, and regulatory reserve changes and settlements. Adjusted EBITDA margin (calculated as a percentage of Gross Bookings) is calculated by dividing Adjusted EBITDA for a period by Gross Bookings for the same period and is considered a key metric. Lyft defines free cash flow as GAAP net cash provided by (used in) operating activities less purchases of property and equipment and scooter fleet.

Lyft subleases certain office space and earns sublease income. Sublease income is included within other income, net on the condensed consolidated statement of operations, while the related lease expense is included within operating expenses and loss from operations. Lyft believes the adjustment to include sublease income in Adjusted EBITDA is useful to investors by enabling them to better assess Lyft’s operating performance, including the benefits of recent transactions, by presenting sublease income as a contra-expense to the related lease charges that are part of operating expenses.

Lyft excludes certain costs related to acquisitions including due diligence costs, professional fees in connection with an acquisition, certain financing costs, and certain integration-related expenses. These expenses are unpredictable, and depend on factors that may be outside of our control and are not reflective of our ongoing core operations. In addition, the size and complexity of an acquisition, which often drives the magnitude of costs related to acquisitions, may not be indicative of such future costs. We believe excluding costs related to acquisitions, divestitures and other corporate matters facilitates the comparison of our financial results to our historical operating results and to other companies in the industry.

Certain legal, tax, and regulatory reserve changes and settlements are primarily related to certain reserves and/or settlements for significant legal proceedings or governmental investigations and the associated fees. These matters have limited precedent, cover extended historical periods and are unpredictable in both magnitude and timing, therefore are distinct from normal, recurring legal, tax and regulatory matters and related expenses incurred in our ongoing operating performance.

Lyft uses its non-GAAP financial measures in conjunction with GAAP measures as part of our overall assessment of our performance, including the preparation of our annual operating budget and quarterly forecasts, to evaluate the effectiveness of our business strategies, and to communicate with our board of directors concerning our financial performance. Free cash flow is a measure used by our management to understand and evaluate our operating performance and trends. We believe free cash flow is a useful indicator of liquidity that provides our management with information about our ability to generate or use cash to enhance the strength of our balance sheet, further invest in our business and pursue potential strategic initiatives. Free cash flow has certain limitations, including that it does not reflect our future contractual commitments and it does not represent the total increase or decrease in our cash balance for a given period. Free cash flow does not necessarily represent funds available for discretionary use and is not necessarily a measure of our ability to fund our cash needs.

Lyft’s definitions may differ from the definitions used by other companies and therefore comparability may be limited. In addition, other companies may not publish these or similar metrics. Furthermore, these measures have certain limitations in that they do not include the impact of certain expenses that are reflected in our consolidated statement of operations that are necessary to run our business. Thus, our non-GAAP financial measures should be considered in addition to, not as substitutes for, or in isolation from, measures prepared in accordance with GAAP.

  Lyft, Inc.

Condensed Consolidated Balance Sheets

(in thousands, except for per share data)

(unaudited)

June 30,
2026

December 31,
2025

Assets

Current assets

Cash and cash equivalents

$

1,137,942

$

1,132,009

Short-term investments

656,573

705,172

Prepaid expenses and other current assets

1,064,898

1,082,334

Total current assets

2,859,413

2,919,515

Restricted cash and cash equivalents

758,988

705,361

Restricted investments

1,305,672

1,230,758

Investments

44,506

47,066

Property and equipment, net

430,318

418,530

Operating lease right-of-use assets

163,885

165,579

Intangible assets, net

164,570

178,944

Goodwill

477,082

439,754

Deferred tax assets

2,880,645

2,906,135

Other assets

22,407

18,411

Total assets

$

9,107,486

$

9,030,053

Liabilities and Stockholders’ Equity

Current liabilities

Accounts payable

$

115,641

$

120,464

Insurance reserves

2,307,657

2,180,426

Accrued and other current liabilities

2,428,912

2,196,863

Operating lease liabilities, current

28,261

28,068

Total current liabilities

4,880,471

4,525,821

Operating lease liabilities

156,279

159,904

Long-term debt, net of current portion

990,560

1,002,404

Other liabilities

56,530

68,401

Total liabilities

6,083,840

5,756,530

Stockholders’ equity

Preferred stock, $0.00001 par value; 1,000,000 shares authorized as of June 30, 2026 and December 31, 2025; no shares issued and outstanding as of June 30, 2026 and December 31, 2025

—

—

Common stock, $0.00001 par value; 18,000,000 Class A shares authorized as of June 30, 2026 and December 31, 2025; 379,170 and 400,856 Class A shares issued and outstanding, as of June 30, 2026 and December 31, 2025, respectively; no Class B shares authorized as of June 30, 2026 and 87,220 Class B shares authorized as of December 31, 2025; no Class B shares issued and outstanding as of June 30, 2026 and December 31, 2025

4

4

Additional paid-in capital

10,388,610

10,687,017

Accumulated other comprehensive (loss) income

(15,389

)

625

Accumulated deficit

(7,349,579

)

(7,414,123

)

Total stockholders’ equity

3,023,646

3,273,523

Total liabilities and stockholders’ equity

$

9,107,486

$

9,030,053

  Lyft, Inc.

Condensed Consolidated Statements of Operations

(in thousands, except for per share data)

(unaudited)

Three Months Ended June 30,

Six Months Ended June 30,

2026

2025

2026

2025

Revenue

$

1,843,544

$

1,588,183

$

3,494,033

$

3,038,355

Costs and expenses

Cost of revenue

926,421

935,734

1,790,565

1,798,608

Operations and support

128,708

117,433

253,063

223,768

Research and development

119,220

109,325

243,372

221,820

Sales and marketing

319,986

190,922

592,922

372,939

General and administrative

301,643

232,339

571,879

447,639

Total costs and expenses

1,795,978

1,585,753

3,451,801

3,064,774

Income (loss) from operations

47,566

2,430

42,232

(26,419

)

Interest expense

(5,471

)

(5,032

)

(10,696

)

(11,182

)

Other income, net

36,300

46,989

66,628

87,906

Income before income taxes

78,395

44,387

98,164

50,305

Provision for income taxes

28,101

4,073

33,620

7,424

Net income

$

50,294

$

40,314

$

64,544

$

42,881

Net income per share attributable to common stockholders

Basic

$

0.13

$

0.10

$

0.17

$

0.10

Diluted

$

0.13

$

0.10

$

0.16

$

0.10

Weighted-average number of shares outstanding used to compute net income per share attributable to common stockholders

Basic

380,280

417,242

387,634

418,793

Diluted

386,334

422,953

394,369

424,137

Stock-based compensation included in costs and expenses:

Cost of revenue

$

6,624

$

5,484

$

13,912

$

12,939

Operations and support

2,975

2,471

6,323

5,123

Research and development

34,829

33,894

75,032

72,157

Sales and marketing

3,901

4,254

8,586

9,329

General and administrative

28,224

35,999

59,578

75,712

  Lyft, Inc.

Condensed Consolidated Statements of Cash Flows

(in thousands)

(unaudited)

Six Months Ended June 30,

2026

2025

Cash flows from operating activities

Net income

$

64,544

$

42,881

Adjustments to reconcile net income to net cash provided by operating activities

Depreciation and amortization

75,392

64,202

Stock-based compensation

163,431

175,260

Deferred income tax

21,435

(1,119

)

Amortization of premium on marketable securities

337

61

Accretion of discount on marketable securities

(26,301

)

(37,673

)

Amortization of debt discount and issuance costs

2,353

1,689

Loss on sale and disposal of assets, net

6,137

2,372

Other

(4,376

)

(6,504

)

Changes in operating assets and liabilities, net effects of acquisition

Prepaid expenses and other assets

30,040

1,289

Operating lease right-of-use assets

15,071

11,253

Accounts payable

(8,696

)

7,173

Insurance reserves

127,232

246,472

Accrued and other liabilities

207,653

139,165

Lease liabilities

(16,648

)

(15,559

)

Net cash provided by operating activities

657,604

630,962

Cash flows from investing activities

Purchases of marketable securities

(1,783,445

)

(1,594,199

)

Proceeds from sales of marketable securities

288,111

209,395

Proceeds from maturities of marketable securities

1,491,114

1,868,470

Proceeds from maturities of term deposits

—

2,194

Purchases of property and equipment and scooter fleet

(50,718

)

(20,786

)

Sales of property and equipment

37,596

31,188

Cash paid for acquisitions, net of cash acquired

(54,252

)

—

Cash received from divestiture of equity method investment

15,499

—

Other investing activities

(8,463

)

—

Net cash (used in) provided by investing activities

(64,558

)

496,262

Cash flows from financing activities

Repayment of loans

(44,010

)

(33,174

)

Repurchase of Class A common stock

(400,000

)

(200,000

)

Payment for settlement of convertible senior notes due 2025

—

(390,719

)

Proceeds from common stock issuances

8,214

7,304

Taxes paid related to net share settlement of equity awards

(66,390

)

(61,495

)

Principal payments on finance lease obligations

(23,147

)

(20,933

)

Other financing activities

(3,322

)

(255

)

Net cash used in financing activities

(528,655

)

(699,272

)

Effect of foreign exchange on cash, cash equivalents and restricted cash and cash equivalents

(4,831

)

1,120

Net increase in cash, cash equivalents and restricted cash and cash equivalents

59,560

429,072

Cash, cash equivalents and restricted cash and cash equivalents

Beginning of period

1,837,370

946,040

End of period

$

1,896,930

$

1,375,112

  Lyft, Inc.

Condensed Consolidated Statements of Cash Flows

(in thousands)

(unaudited)

Six Months Ended June 30,

2026

2025

Reconciliation of cash, cash equivalents and restricted cash and cash equivalents to the condensed consolidated balance sheets

Cash and cash equivalents

$

1,137,942

$

913,845

Restricted cash and cash equivalents

758,988

461,267

Total cash, cash equivalents and restricted cash and cash equivalents

$

1,896,930

$

1,375,112

Non-cash investing and financing activities

Financed vehicles acquired

$

37,965

$

21,962

Purchases of property and equipment and scooter fleet not yet settled

14,572

10,178

Right-of-use assets acquired under finance leases

11,385

3,655

Right-of-use assets acquired under operating leases

9,227

2,754

Remeasurement of finance and operating lease right-of-use assets

(1,715

)

(2,593

)

Repurchase of Class A common stock, including excise tax, accrued and not yet paid

3,094

1,113

  Lyft, Inc.

GAAP to Non-GAAP Reconciliations

(in millions, except for percentages)

(unaudited)

Three Months Ended

June 30,
2026

March 31,
2026

June 30,
2025

Adjusted EBITDA

Net income

$

50.3

$

14.2

$

40.3

Adjusted to exclude the following:

Interest expense(1)

6.5

6.3

6.2

Other income, net

(36.3

)

(30.3

)

(47.0

)

Provision for income taxes

28.1

5.5

4.1

Depreciation and amortization

38.8

36.6

30.6

Stock-based compensation

76.6

86.9

82.1

Payroll tax expense related to stock-based compensation

3.3

5.3

3.9

Sublease income

—

0.4

0.1

Costs related to acquisitions, divestitures and other corporate matters

7.9

5.2

9.1

Certain legal, tax, and regulatory reserve changes and settlements

2.1

2.6

—

Adjusted EBITDA(2)

$

177.2

$

132.8

$

129.4

Gross Bookings

$

5,504.2

$

4,946.0

$

4,490.1

Net income as a percentage of Gross Bookings

0.9

%

0.3

%

0.9

%

Adjusted EBITDA margin (calculated as a percentage of Gross Bookings)

3.2

%

2.7

%

2.9

%

_______________ (1) Includes $1.0 million, $1.1 million and $1.2 million related to the interest component of vehicle related finance leases in the three months ended June 30, 2026, March 31, 2026 and June 30, 2025, respectively.

(2) Due to rounding, numbers presented may not add up precisely to the totals provided.

Trailing Twelve Months Ended

Three Months Ended

June 30,
2026

June 30,
2026

March 31,
2026

December 31,
2025

September 30,
2025

June 30,
2025

Free cash flow

Net cash provided by operating activities

$

1,195.1

$

349.9

$

307.7

$

246.2

$

291.3

$

343.7

Less: purchases of property and equipment and scooter fleet

(82.8

)

(30.3

)

(20.4

)

(18.6

)

(13.4

)

(14.3

)

Free cash flow

$

1,112.3

$

319.6

$

287.3

$

227.6

$

277.8

$

329.4

_______________

Note: Due to rounding, numbers presented may not add up precisely to the totals provided.

More News From Lyft, Inc.

Lyft, Inc. (LYFT) Q2 2026 Earnings Call Transcript

Though its second-quarter gross bookings rose to $5.5 billion, the rideshare company expects bookings in the current quarter to rise at a slower pace of 15% to 19%.

Lyft beat Wall Street estimates for second-quarter revenue on Thursday and forecast ‌current-quarter gross bookings slightly above expectations, as demand for higher-value rides, international expansion and partnerships drive growth.

In its upcoming report, Lyft (LYFT - Free Report) is predicted by Wall Street analysts to post quarterly earnings of $0.39 per share, reflecting an increase of 56% compared to the same period last year. Revenues are forecasted to be $1.81 billion, representing a year-over-year increase of 13.7%.

Over the last 30 days, there has been no revision in the consensus EPS estimate for the quarter. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.

Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.

While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.

In light of this perspective, let's dive into the average estimates of certain Lyft metrics that are commonly tracked and forecasted by Wall Street analysts.

According to the collective judgment of analysts, 'Gross Bookings' should come in at $5.37 billion. The estimate compares to the year-ago value of $4.49 billion.

The consensus estimate for 'Active Riders' stands at 30.36 million. The estimate compares to the year-ago value of 26.10 million.

Analysts' assessment points toward 'Rides' reaching 259.20 million. The estimate is in contrast to the year-ago figure of 234.80 million.

View all Key Company Metrics for Lyft here>>>

Over the past month, Lyft shares have recorded returns of +6.4% versus the Zacks S&P 500 composite's +1.7% change. Based on its Zacks Rank #5 (Strong Sell), LYFT will likely underperform the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .

Lyft (LYFT - Free Report) closed at $15.86 in the latest trading session, marking a +1.99% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.7%. Elsewhere, the Dow saw an upswing of 0.53%, while the tech-heavy Nasdaq appreciated by 1%.

Heading into today, shares of the ride-hailing company had gained 1.17% over the past month, outpacing the Computer and Technology sector's loss of 6.59% and the S&P 500's loss of 0.49%.

The investment community will be closely monitoring the performance of Lyft in its forthcoming earnings report. The company is scheduled to release its earnings on August 6, 2026. The company is expected to report EPS of $0.39, up 56% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.81 billion, up 13.68% from the year-ago period.

For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.57 per share and a revenue of $7.29 billion, signifying shifts of +227.08% and +15.38%, respectively, from the last year.

Investors should also note any recent changes to analyst estimates for Lyft. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.

Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Lyft is holding a Zacks Rank of #5 (Strong Sell) right now.

Digging into valuation, Lyft currently has a Forward P/E ratio of 9.9. This denotes a discount relative to the industry average Forward P/E of 16.27.

Meanwhile, LYFT's PEG ratio is currently 0.41. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. As of the close of trade yesterday, the Internet - Services industry held an average PEG ratio of 1.83.

The Internet - Services industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 176, placing it within the bottom 29% of over 250 industries.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

To follow LYFT in the coming trading sessions, be sure to utilize Zacks.com.

Lyft, Inc. continues to improve operationally, with Q1 2026 gross bookings up 19% and free cash flow reaching an all-time high. Despite outperforming Uber and the S&P 500, LYFT's valuation multiple has not expanded; share price gains stem from earnings growth and buybacks. Autonomous vehicles remain the largest long-term uncertainty, with fleet operations presenting both opportunity and risk for LYFT's future economics.

Posted by Defense World Staff on Jul 28th, 2026

Viomi Technology (NASDAQ:VIOT – Get Free Report) and Lyft (NASDAQ:LYFT – Get Free Report) are both computer and technology companies, but which is the better investment? We will compare the two businesses based on the strength of their institutional ownership, dividends, valuation, risk, profitability, earnings and analyst recommendations.

Profitability This table compares Viomi Technology and Lyft’s net margins, return on equity and return on assets.

Net Margins Return on Equity Return on Assets Viomi Technology N/A N/A N/A Lyft 43.82% -2.09% -0.54% Valuation and Earnings This table compares Viomi Technology and Lyft”s gross revenue, earnings per share (EPS) and valuation.

Gross Revenue Price/Sales Ratio Net Income Earnings Per Share Price/Earnings Ratio Viomi Technology $347.23 million 0.15 $20.26 million N/A N/A Lyft $6.52 billion 0.88 $2.84 billion $6.85 2.20 Lyft has higher revenue and earnings than Viomi Technology.

Analyst Recommendations This is a breakdown of current ratings for Viomi Technology and Lyft, as provided by MarketBeat.

Sell Ratings Hold Ratings Buy Ratings Strong Buy Ratings Rating Score Viomi Technology 1 0 0 0 1.00 Lyft 4 20 13 0 2.24 Lyft has a consensus target price of $19.40, indicating a potential upside of 28.56%. Given Lyft’s stronger consensus rating and higher probable upside, analysts plainly believe Lyft is more favorable than Viomi Technology.

Volatility and Risk Viomi Technology has a beta of 0.4, meaning that its share price is 60% less volatile than the S&P 500. Comparatively, Lyft has a beta of 1.8, meaning that its share price is 80% more volatile than the S&P 500.

Institutional and Insider Ownership 1.2% of Viomi Technology shares are owned by institutional investors. Comparatively, 83.1% of Lyft shares are owned by institutional investors. 34.3% of Viomi Technology shares are owned by company insiders. Comparatively, 0.9% of Lyft shares are owned by company insiders. Strong institutional ownership is an indication that hedge funds, large money managers and endowments believe a stock will outperform the market over the long term.

Summary Lyft beats Viomi Technology on 9 of the 12 factors compared between the two stocks.

About Viomi Technology (Get Free Report)

Viomi Technology Co., Ltd, through its subsidiaries, develops and sells Internet-of-things-enabled (IoT-enabled) smart home products in the People's Republic of China. The company offers IoT-enabled smart home products, including smart water purification systems; smart kitchen products, such as refrigerators, oven steamers, dishwashers, range hoods, and gas stoves; and other smart products comprising air conditioning systems, washing machines, water heaters, smart water kettles, sweeper robots, smart locks, and other smart devices, as well as blenders. It also provides a suite of complementary consumable products and small appliances, such as portable fans, rice cookers, water quality meters, water filter pitchers, stainless-steel insulated water bottles, smart toilet, and food waste disposals; and value-added services. The company sells its products directly to consumers through its online platform, Viomi mobile app, and e-commerce channels, including Youpin, JD.com, Tmall, Pinduoduo, and others, as well as offline experience stores. Viomi Technology Co., Ltd has a strategic partnership with Xiaomi Corporation. The company was founded in 2014 and is headquartered in Guangzhou, China.

About Lyft (Get Free Report)

Lyft, Inc. operates a peer-to-peer marketplace for on-demand ridesharing in the United States and Canada. It operates multimodal transportation networks that offer access to various transportation options through the Lyft platform and mobile-based applications. The company's platform provides a ridesharing marketplace, which connects drivers with riders; Express Drive, a car rental program for drivers; and a network of shared bikes and scooters in various cities to address the needs of riders for short trips. It also offers centralized tools and enterprise transportation solutions, such as concierge transportation solutions for organizations; Lyft Pink subscription plans; Lyft Pass commuter programs; first-mile and last-mile services; and university safe rides programs. The company was formerly known as Zimride, Inc. and changed its name to Lyft, Inc. in April 2013. Lyft, Inc. was incorporated in 2007 and is headquartered in San Francisco, California.

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In the latest trading session, Lyft (LYFT - Free Report) closed at $14.02, marking a -4.37% move from the previous day. The stock trailed the S&P 500, which registered a daily loss of 1.21%. On the other hand, the Dow registered a loss of 0.97%, and the technology-centric Nasdaq decreased by 2.15%.

The stock of ride-hailing company has risen by 1.81% in the past month, leading the Computer and Technology sector's loss of 4.58% and the S&P 500's gain of 0.42%.

Analysts and investors alike will be keeping a close eye on the performance of Lyft in its upcoming earnings disclosure. The company's earnings report is set to go public on August 6, 2026. The company's upcoming EPS is projected at $0.39, signifying a 56.00% increase compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $1.81 billion, reflecting a 13.68% rise from the equivalent quarter last year.

For the full year, the Zacks Consensus Estimates are projecting earnings of $1.57 per share and revenue of $7.3 billion, which would represent changes of +227.08% and +15.51%, respectively, from the prior year.

Investors might also notice recent changes to analyst estimates for Lyft. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.

Based on our research, we believe these estimate revisions are directly related to near-term stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Lyft is holding a Zacks Rank of #5 (Strong Sell) right now.

Investors should also note Lyft's current valuation metrics, including its Forward P/E ratio of 9.34. This indicates a discount in contrast to its industry's Forward P/E of 16.56.

Investors should also note that LYFT has a PEG ratio of 0.38 right now. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Internet - Services industry currently had an average PEG ratio of 1.83 as of yesterday's close.

The Internet - Services industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 95, positioning it in the top 39% of all 250+ industries.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.

Jim Cramer’s Lightning Round on CNBC’s Mad Money delivered mixed verdicts on growth and speculative names, endorsing Lyft at current levels, calling for consolidation in fintech, and dismissing First Solar on technicals. He also saw value in shipping stocks such as ZIM.

Here are some of Jim Cramer’s most recent takes:

First Solar Has One of the “Worst Charts” Cramer Has Ever Seen Cramer’s rejection of First Solar (NASDAQ:FSLR | FSLR Price Prediction) was blunt. “Man, that thing has just been crushed. You’re buying it at a very inexpensive price. But… I hate to default to being a technician. It has one of the worst charts I’ve ever seen,“ he said, adding that the company is profitable but faces a lawsuit.

The paradox is real. First Solar posted Q1 2026 EPS of $3.22, beating consensus of $2.98 by 8.02%, with revenue of $1.044 billion and net income up 65% year over year to $346.62 million. CEO Mark Widmar credited “differentiated technology, a domestic manufacturing footprint, and independence from Chinese crystalline silicon supply chains.”

Yet the price action tells the darker story: shares are down 21.41% year to date and off 20.33% in the past month, closing recently at $206.54. Backlog slipped from a Q3 2025 peak of 53.7 GW to 47.9 GW, and the Section 45X tax credit phases out between 2030 and 2033.

Cramer Says Lyft Is a Buy Around $15 A caller asked Jim Cramer whether he thought Lyft (NASDAQ:LYFT) was a buy today, and Cramer sided with the caller: “I think David Risher’s doing a good job. It’s been trading back and forth and back and forth. The $15 is a good level to start. I agree with you.” He also flagged that Lyft has generated over $1 billion in free cash flow.

Shares last traded at $15.43, in the strike zone Cramer identified. Q1 2026 delivered gross bookings of $4.95 billion, up 19% year over year, 28.3 million active riders, and adjusted EBITDA of $132.80 million, up 25%. CEO David Risher said, “Our customer-obsessed comeback continues… Lyft is performing while transforming.” The company repurchased $300 million of stock in the quarter, on top of a $1 billion authorization. See the full Q1 release.

Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and First Solar didn't make the cut. Grab the names FREE today.

Cramer Predicts “Massive Consolidation” Across Fintech On Fiserv (NYSE:FI), Cramer noted the stock is down 70% with new management in place, then pivoted to a sector call: “I think that they have to merge with someone… I’m calling for, like as I did this weekend in a piece I wrote for the club, massive consolidation in the fintech area. We have way too many companies in that area.“

The stock trades near $51.68, down 68.82% over the past year. Q1 2026 adjusted EPS came in at $1.79, but organic revenue fell 4%. CEO Mike Lyons is executing the One Fiserv Action Plan targeting EPS above $12.00 by 2029.

AST SpaceMobile Could Fall Another 30% Before Cramer Would Buy Cramer was direct on AST SpaceMobile (NASDAQ:ASTS): “Look, you gotta be worried. The company’s losing a fortune… that kind of stock is now out of favor. I think at $40, you can wait till it gets to $40 before you have to pull the trigger. I am not kidding.”

Shares last traded at $57.17, still above Cramer’s wait level, though down 28.81% over the past month. Q1 2026 revenue of $14.7 million missed the $36.6 million estimate, and the GAAP loss was $191 million. Reddit’s r/wallstreetbets reflects the pain, with one viral post titled “Down $240k in less than a month at 23 thanks to ASTS” drawing thousands of upvotes.

ZIM’s $35 Takeover Offer Creates a Different Kind of Value Play Cramer acknowledged there was value in shipping stocks like ZIM. ZIM Integrated Shipping Services (NYSE:ZIM) trades at $24.36, up 65.71% over the past year. ZIM is being acquired by Hapag-Lloyd at $35.00 per share in cash, and the deal is expected to close in Q4 2026. Reddit sentiment is bullish, with one post titled “ZIM: 40% to 300% Gain Potential on Merger Arbitrage.”

Key Takeaways Act now: the analyst who called NVIDIA in 2010 just named his top 10 AI stocks — and First Solar didn't make the cut. Grab the names FREE today.

Contact [email protected] for any questions or corrections.

In the latest trading session, Lyft (LYFT - Free Report) closed at $15.52, marking a -2.88% move from the previous day. The stock fell short of the S&P 500, which registered a loss of 1.01% for the day. Meanwhile, the Dow lost 0.77%, and the Nasdaq, a tech-heavy index, lost 1.4%.

Prior to today's trading, shares of the ride-hailing company had gained 11.9% outpaced the Computer and Technology sector's loss of 3.73% and the S&P 500's gain of 0.32%.

Investors will be eagerly watching for the performance of Lyft in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on August 6, 2026. The company's earnings per share (EPS) are projected to be $0.39, reflecting a 56% increase from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.81 billion, up 13.68% from the year-ago period.

Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $1.57 per share and revenue of $7.3 billion. These totals would mark changes of +227.08% and +15.51%, respectively, from last year.

Any recent changes to analyst estimates for Lyft should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.

Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.

The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. At present, Lyft boasts a Zacks Rank of #5 (Strong Sell).

Looking at its valuation, Lyft is holding a Forward P/E ratio of 10.18. Its industry sports an average Forward P/E of 17.63, so one might conclude that Lyft is trading at a discount comparatively.

It's also important to note that LYFT currently trades at a PEG ratio of 0.42. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As the market closed yesterday, the Internet - Services industry was having an average PEG ratio of 1.72.

The Internet - Services industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 93, which puts it in the top 38% of all 250+ industries.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

NEW YORK--(BUSINESS WIRE)--Lyft (NASDAQ: LYFT) and Curb, the leading ride-hailing platform for licensed taxis, today announced the expansion of their strategic partnership to New York City, the largest taxi market in the United States. Eligible Lyft riders in New York City can now be matched with a licensed taxi through Curb Flow, Curb's open API that aggregates ride demand into a single network, directly through the Lyft app they already use.The New York City expansion follows launches in Los A.