Slide 1: Q2 2026 Earnings
Q2 2026 Earnings August 6, 2026
Slide 2: Forward Looking Statements
This presentation and the accompanying oral presentation contain 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 Forward relate to future e
Slide 3: Quarterly Highlights
QUARTERLY HIGHLIGHTS Record Active Riders drove sequential accelerated Rides growth. Q2’26 Active Gross Adj. EBITDA Free cash Riders: Bookings: margin flow: 1 % of Gross Bookings):1 30.5 million, $5.5 billion, $1.11 billion 17% YoY 23% YoY 3.2% (trailing twelve 2 months) (1) The Adjusted EB
Slide 4: Broad-based growth, consistent execution.
GROWTH STRATEGY: OPERATIONAL EXCELLENCE Broad-based growth, consistent execution. In Q2, record Active Riders drove sequential accelerated Rides growth in North America and globally. Our operational excellence continues to drive incremental demand: 🔁Typical summer strength, people love to party: We
Slide 5: Wrong side of the road, right side of growth.
GROWTH STRATEGY: UP & OUT Wrong side of the road, right side of growth. One year into Lyftʼs global expansion, we continue to build out foundational inputs like brand marketing + systems integrations + roaming that allow Lyft to invest in profitable growth as we deepen our presence globally. In Q2,
Slide 6: Driving the hybrid future forward.
GROWTH STRATEGY: AUTONOMOUS VEHICLES Driving the hybrid future forward. Our right to win comes from a structural advantage: years of industry experience, proprietary software, and customer obsession. We continue to build a hybrid network where rideshare and AVs work together, not in competition. ● N
Slide 7: Results & Guidance
Results & Guidance
Slide 8: Quarterly Active Riders
Quarterly Active Riders (in millions, except for percentages) 30.5 28.7 29.2 28.3 26.1 Q2ʼ26 24.4 24.7 24.2 23.7 Active Riders: +10% +9% +10% +11% +10% +18% +18% +17% +17% 30.5 million, YoY YoY YoY YoY YoY YoY YoY YoY YoY +17% YoY Q2‘24 Q3‘24 Q4‘24 Q1‘25 Q2‘25 Q3‘25 Q4‘25 Q1‘26 Q2‘26 8
Slide 9: Quarterly Rides
Quarterly Rides (in millions, except for percentages) 262.4 248.8 236.9 243.5 234.8 236.9 216.7 218.5 218.4 205.3 Q2'26 Rides: 262.4 million, +15% YoY +16% YoY +15% YoY +16% YoY +14% YoY +15% YoY +11% YoY +8% YoY +12% YoY 12% YoY Q2‘24 Q3‘24 Q4‘24 Q1‘25 Q2‘25 Q3‘25 Q4‘25 Q1‘26 Q2‘26 9
Slide 10: Quarterly Gross Bookings
Quarterly Gross Bookings (in millions, except for percentages) $5,504 $5,074 $4,946 $4,780 $4,019 $4,108 $4,279 $4,162 $4,490 Q2ʼ26 Gross +17% +16% +15% +13% +12% +16% +19% +19% +23% Bookings: YoY YoY YoY YoY YoY YoY YoY YoY YoY $5.5 billion, 23% YoY 1 $1,436 $1,523 $1,550 $1,450 $1,588 $1,685 $1
Slide 11: Quarterly Adj. EBITDA & Margin
Quarterly Adj. EBITDA & Margin (% of Gross Bookings) Q2ʼ26 $177 (in millions, except for percentages) $154 $129 $139 $133 Adj. EBITDA & Margin: $113 $107 $106 $103 $177 million, 3.2% margin (% of Gross Bookings) 2.6% 2.6% 2.6% 2.6% 2.9% 2.9% 3.0% 2.7% 3.2% Q2‘24 Q3‘24 Q4‘24 Q1‘25 Q2‘25 Q3‘25 Q4‘25 Q
Slide 12: Free Cash Flow (TTM)
Free Cash Flow (TTM) (in millions) $1,116 $1,122 $1,112 $1,028 $993 $920 Q2ʼ26 Free Cash Flow: $766 $641 $1.1 billion $368 trailing twelve months ($0.2) ($0.2) Q2‘24 Q3‘24 Q4‘24 Q1‘25 Q2‘25 Q3‘25 Q4‘25 Q1‘26 Q2‘26 Note: The figures above are non-GAAP financial measures. Please see the explanation of n
Slide 13: Q3'26 Guidance
Q3ʼ26 Guidance Gross Bookings Approx. $5.50 billion to $5.67 billion, up approx. 15% to 19% year over year Adjusted EBITDA Approx. $183 million to $203 million Adjusted EBITDA margin Approx. 3.3% to 3.6% % of Gross Bookings) 13
Slide 14: Financial Results: Reconciliations from GAAP to Non-GAAP and Trended Financial Statements
Financial Results: Reconciliations from GAAP to Non-GAAP and Trended Financial Statements
Slide 15: Historical Financial and Operational Results
Historical Financial and Operational Results (in millions, except for percentages) Fiscal 2024 Fiscal 2025 Fiscal 2026 Q1 Q2 Q3 Q4 Total Q1 Q2 Q3 Q4 Total Q1 Q2 Active Riders 21.9 23.7 24.4 24.7 24.2 26.1 28.7 29.2 28.3 30.5 Rides 187.7 205.3 216.7 218.5 828.3 218.4 234.8 248.8 243.5 945.5 236.9 262
Slide 16: Condensed Consolidated Balance Sheet
Condensed Consolidated Balance Sheet ($ in millions) Fiscal 2024 Fiscal 2025 Fiscal 2026 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Assets Current assets: Cash and cash equivalents $ 507.9 $ 604.4 $ 770.3 $ 759.3 $ 985.5 $ 913.8 $ 1,305.9 $ 1,132.0 $ 1,034.9 $ 1,137.9 Short-term investments 1,157.7 1,196.0 1,156
Slide 17: Condensed Consolidated Balance Sheet (cont.)
Condensed Consolidated Balance Sheet (cont.) ($ in millions) Fiscal 2024 Fiscal 2025 Fiscal 2026 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 104.5 $ 116.1 $ 109.3 $ 97.7 $ 98.6 $ 104.5 $ 107.4 $ 120.5 $ 114.9 $ 115.6 Insurance reserves 1
Slide 18: Condensed Consolidated Statement of Operations
Condensed Consolidated Statement of Operations (in millions, except per share items) Fiscal 2024 Fiscal 2025 Fiscal 2026 Q1 Q2 Q3 Q4 Total Q1 Q2 Q3 Q4 Total Q1 Q2 Revenue $ 1,277.2 $ 1,435.8 $ 1,522.7 $ 1,550.3 $ 5,786.0 $ 1,450.2 $ 1,588.2 $ 1,685.2 $ 1,592.7 $ 6,316.3 $ 1,650.5 $ 1,843.5 Cost and
Slide 19: Condensed Consolidated Statement of Cash Flows
Condensed Consolidated Statement of Cash Flows ($ in millions) Fiscal 2024 Fiscal 2025 Fiscal 2026 Q1 Q2 Q3 Q4 Total Q1 Q2 Q3 Q4 Total Q1 Q2 Cash flows from operating activities Net income (loss) $ 31.5 $ 5.0 $ 12.4 $ 61.7 $ 22.8 $ 2.6 $ 40.3 $ 46.1 $ 2,755.1 $ 2,844.0 $ 14.2 $ 50.3 Adjustments
Slide 20: Condensed Consolidated Statement of Cash Flows (cont.)
Condensed Consolidated Statement of Cash Flows (cont.) ($ in millions) Fiscal 2024 Fiscal 2025 Fiscal 2026 Q1 Q2 Q3 Q4 Total Q1 Q2 Q3 Q4 Total Q1 Q2 Cash flows from investing activities Purchases of marketable securities $ 1,124.1 $ 978.2 $ 874.3 $ 1,200.8 $ 4,177.4 $ 1,028.8 $ 565.4 $
Slide 21: Condensed Consolidated Statement of Cash Flows (cont.)
Condensed Consolidated Statement of Cash Flows (cont.) ($ in millions) Fiscal 2024 Fiscal 2025 Fiscal 2026 Q1 Q2 Q3 Q4 Total Q1 Q2 Q3 Q4 Total Q1 Q2 Cash flows from financing activities Repayment of loans $ 20.6 $ 20.4 $ 20.8 $ 22.3 $ 84.1 $ 16.5 $ 16.7 $ 14.7 $ 14.6 $ 62.4 $ 20
Slide 22: Condensed Consolidated Statement of Cash Flows (cont.)
Condensed Consolidated Statement of Cash Flows (cont.) ($ in millions) Fiscal 2024 Fiscal 2025 Fiscal 2026 Q1 Q2 Q3 Q4 Total Q1 Q2 Q3 Q4 Total Q1 Q2 Net cash provided by operating $ 156.2 $ 276.2 $ 264.0 $ 153.4 $ 849.7 $ 287.2 $ 343.7 $ 291.3 $ 246.2 $ 1,168.4 $ 307.7 $ 349.9 activities Net cash pr
Slide 23: Non-GAAP Condensed Consolidated Statement of Operations
Non-GAAP Condensed Consolidated Statement of Operations ($ in millions) Fiscal 2024 Fiscal 2025 Fiscal 2026 Q1 Q2 Q3 Q4 Total Q1 Q2 Q3 Q4 Total Q1 Q2 Revenue $ 1,277.2 $ 1,435.8 $ 1,522.7 $ 1,550.3 $ 5,786.0 $ 1,450.2 $ 1,588.2 $ 1,685.2 $ 1,592.7 $ 6,316.3 $ 1,650.5 $ 1,843.5 Certain legal, tax, an
Slide 24: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations ($ in millions) Fiscal 2024 Fiscal 2025 Fiscal 2026 Q1 Q2 Q3 Q4 Total Q1 Q2 Q3 Q4 Total Q1 Q2 GAAP Cost of Revenue $ 755.4 $ 819.5 $ 888.3 $ 874.6 $ 3,337.7 $ 862.9 $ 935.7 $ 927.2 $ 971.8 $ 3,697.7 $ 864.1 $ 926.4 Adjusted to exclude the foll
Slide 25: GAAP to Non-GAAP Reconciliations (cont.)
GAAP to Non-GAAP Reconciliations (cont.) Fiscal 2024 Fiscal 2025 Fiscal 2026 ($ in millions) Q1 Q2 Q3 Q4 Total Q1 Q2 Q3 Q4 Total Q1 Q2 Non-GAAP Operating Expenses GAAP Operations and Support $ 103.0 $ 115.7 $ 117.5 $ 107.6 $ 443.8 $ 106.3 $ 117.4 $ 131.4 $ 123.1 $ 478.3 $ 124.4
Slide 26: GAAP to Non-GAAP Reconciliations (cont.)
GAAP to Non-GAAP Reconciliations (cont.) Fiscal 2024 Fiscal 2025 Fiscal 2026 ($ in millions) Q1 Q2 Q3 Q4 Total Q1 Q2 Q3 Q4 Total Q1 Q2 Non-GAAP Operating Expenses GAAP Sales and Marketing $ 145.5 $ 176.4 $ 215.8 $ 251.4 $ 789.0 $ 182.0 $ 190.9 $ 243.3 $ 258.8 $ 875.1 $ 272.9 $
Slide 27: GAAP to Non-GAAP Reconciliations (cont.)
GAAP to Non-GAAP Reconciliations (cont.) ($ in millions) Fiscal 2024 Fiscal 2025 Fiscal 2026 Q1 Q2 Q3 Q4 Total Q1 Q2 Q3 Q4 Total Q1 Q2 GAAP Operating Expenses (excludes $ 584.8 $ 643.6 $ 691.1 $ 647.7 $ 2,567.2 $ 616.1 $ 650.0 $ 734.9 $ 805.9 $ 2,807.0 $ 791.7 $ 869.6 COR De
Slide 28: GAAP to Non-GAAP Reconciliations (cont.)
GAAP to Non-GAAP Reconciliations (cont.) ($ in millions, except for percentages) Fiscal 2024 Fiscal 2025 Fiscal 2026 Q1 Q2 Q3 Q4 Total Q1 Q2 Q3 Q4 Total Q1 Q2 Gross Bookings¹ $ 3,693.2 $ 4,018.9 $ 4,108.4 $ 4,278.9 $ 16,099.4 $ 4,162.4 $ 4,490.1 $ 4,780.4 $ 5,074.2 $ 18,507.0 $ 4,946.0 $ 5,504.2 Non
Slide 29: GAAP to Non-GAAP Reconciliations (cont.)
GAAP to Non-GAAP Reconciliations (cont.) ($ in millions, except for percentages) Fiscal 2024 Fiscal 2025 Fiscal 2026 Q1 Q2 Q3 Q4 Total Q1 Q2 Q3 Q4 Total Q1 Q2 Reconciliation of Net Income Loss to Non-GAAP Adjusted EBITDA GAAP Net Income Loss $ 31.5 $ 5.0 $ 12.4 $ 61.7 $ 22.8 $ 2.6 $ 40.3 $ 4
Slide 30: GAAP to Non-GAAP Reconciliations (cont.)
GAAP to Non-GAAP Reconciliations (cont.) ($ in millions) Fiscal 2024 Fiscal 2025 Fiscal 2026 Q1 Q2 Q3 Q4 Total Q1 Q2 Q3 Q4 Total Q1 Q2 Reconciliation of Net Cash Provided by Operating Activities to Free Cash Flow Net Cash Provided by Operating $ 156.2 $ 276.2 $ 264.0 $ 153.4 $ 849.7 $ 287.2 $ 343.7