$LYFT

Lyft, Inc.

CIK:0001759509|SEC Filings

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
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 (in dollars per share)	$ 0.13	$ 0.10	$ 0.17	$ 0.10
Diluted (in dollars per share)	$ 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 (in shares)	380,280	417,242	387,634	418,793
Diluted (in shares)	386,334	422,953	394,369	424,137

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 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	0	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)	0
Cash received from divestiture of equity method investment	15,499	0
Other investing activities	(8,463)	0
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	0	(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
Beginning of period	1,837,370	946,040
End of period	1,896,930	1,375,112
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

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
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
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
Commitments and contingencies (Note 10)
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	0	0
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