Business
Lyft Reports Strong Q1 2025 Financial Results
Strongest start to the year ever with record Q1 Gross Bookings and Active Riders growth accelerating Cash flow generation approaching $1 billion for the
About this update from Lyft, Inc.
[{"type":"text","content":"\nStrongest start to the year ever with record Q1 Gross Bookings and Active Riders growth accelerating\n\nCash flow generation approaching $1 billion for the trailing twelve months\n\nIncreasing share repurchase program to $750 million\n\n SAN FRANCISCO--(BUSINESS WIRE)--\nLyft, Inc. (Nasdaq:LYFT) today announced strong financial results for the first quarter ended March 31, 2025.\n\n\"Q1 marked Lyft's 16th consecutive quarter of double-digit year on year Gross Bookings growth demonstrating the resilience and momentum of our customer-obsessed strategy,\" said Lyft CEO David Risher. \"In the last week of March, rides reached the highest weekly levels in our history and dual-app drivers reported a 23 percentage point preference for Lyft. With our expansion into new demographics via Lyft Silver and into Europe with our planned FREENOW acquisition, we're putting all the pieces in place for sustained, market-leading performance.\"\n\n\"Lyft’s exceptional Q1 performance – 16% Rides growth, strong profit expansion, and nearly $1 billion in cash from operations over the past 12 months – demonstrates our winning formula of growth with discipline,” said CFO Erin Brewer. “This financial strength enables us to increase the authorization of our share repurchase program to $750 million while maintaining the ability to invest in our most promising growth initiatives.\"\n\nFirst Quarter 2025 Financial Highlights\n\n\nGross Bookings of $4.2 billion, up 13% year over year.\n\n\nRevenue of $1.5 billion, up 14% year over year.\n\n\nNet income (loss) of $2.6 million compared to $(31.5) million in Q1'24.\n\n\nNet income (loss) as a percentage of Gross Bookings was 0.1% compared to net income (loss) as a percentage of Gross Bookings of (0.9)% in Q1'24.\n\n\n\n\nAdjusted EBITDA of $106.5 million compared to $59.4 million in Q1'24.\n\n\nAdjusted EBITDA margin as a percentage of Gross Bookings was 2.6% compared to 1.6% in Q1'24.\n\n\n\n\nNet cash provided by operating activities of $287.2 million compared to $156.2 million in Q1'24.\n\n\nFor the trailing twelve months, net cash provided by operating activities was $980.8 million.\n\n\n\n\nFree cash flow of $280.7 million compared to $127.1 million in Q1'24.\n\n\nFor the trailing twelve months, free cash flow was $919.9 million.\n\n\n\n\nFirst Quarter 2025 Operational Highlights\n\n\nRides grew 16% year o...