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Sep 30
Lyft Q3 2025 Earnings Report
Lyft posted record revenue, net income, and KPIs during the third quarter of 2025.
Key Takeaways
Lyft delivered a strong Q3 2025 with record revenue of $1.69 billion and a net income of $46.1 million. The company achieved all-time highs in Active Riders, Rides, and Gross Bookings, reflecting strong demand and operational execution.
Revenue reached a record $1.6852 billion for the quarter.
Net income turned positive at $46.1 million compared to a loss last year.
Free cash flow hit a quarterly record of $277.8 million.
All-time highs recorded in Active Riders and Rides, both growing year over year.
Lyft
Lyft
Forward Guidance
Lyft expects growth to accelerate into Q4 2025 with higher Gross Bookings and strong Adjusted EBITDA.
Positive Outlook
- Gross Bookings expected to rise to $5.01–$5.13 billion.
- Adjusted EBITDA projected between $135 million and $155 million.
- EBITDA margin forecasted to expand to 2.7%–3.0%.
- Rides expected to grow in the mid-to-high teens YoY.
- Growth to accelerate into 2026.
Challenges Ahead
- No GAAP guidance provided due to variability in reconciling items.
- Stock-based compensation and income tax could cause volatility.
- Uncertainty remains around future costs of acquisitions.
- Autonomous vehicle integration may pose execution risk.
- Capital expenditures could impact future free cash flow.