Lyft, Inc. · NASDAQ:LYFT

Lyft — Q1 2026 Earnings Presentation

30 slides from Lyft's earnings presentation, May 7, 2026

  1. Slide 1: Q1 2026 Earnings

    lyft Q1 2026 Earnings ay 7, 2026

  2. Slide 2: Forward Looking Statements & Non-GAAP Financial Measures

    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

  3. Slide 3: The snow has melted & we're springing forward

    QUARTERLY HIGHLIGHTS The snow has melted & weʼre springing forward. Q1’26 Active Gross Adj. EBITDA Free cash Riders: Bookings: margin flow: 1 % of Gross Bookings):1 28.3 million, $4.9 billion, $1.12 billion 17% YoY 19% YoY 2.7% (trailing twelve 2 months) (1) The Adjusted EBITDA margin and f

  4. Slide 4: Continuing to grow UP & OUT

    GROWTH STRATEGY: GLOBAL EXPANSION Continuing to grow UP & OUT. This week, we acquired Gettʼs UK business. Gettʼs premium positioning in London, Europeʼs largest taxi and ride-hail region, is the perfect choice as we continue to invest in profitable growth and deepen our presence globally. The UP ●

  5. Slide 5: Growing partnerships because they work

    GROWTH STRATEGY: PARTNERSHIPS Growing partnerships because they work. Partnerships continue to drive growth. Nearly 27% of rides in North America were linked to a partnership in Q1 — an all-time high. These mutually beneficial relationships enable us to dive deeper and drive higher value modes, freq

  6. Slide 6: The hybrid ecosystem clearing the AV fog

    GROWTH STRATEGY: AUTONOMOUS VEHICLES The hybrid ecosystem clearing the AV fog. Autonomous vehicles unlock new use cases and bring more riders to rideshare. Our hybrid approach, with drivers and AVs working together, will fuel availability and utilization in an increasingly fragmented industry. San F

  7. Slide 7: Results & Guidance

    Results & Guidance

  8. Slide 8: Quarterly Active Riders

    Quarterly Active Riders (in millions, except for percentages) 28.7 29.2 28.3 26.1 Q1ʼ26 24.4 24.7 24.2 23.7 21.9 Active Riders: +12% +10% +9% +10% +11% +10% +18% +18% +17% 28.3 million, YoY YoY YoY YoY YoY YoY YoY YoY YoY +17% YoY Q1‘24 Q2‘24 Q3‘24 Q4‘24 Q1‘25 Q2‘25 Q3‘25 Q4‘25 Q1‘26 8

  9. Slide 9: Quarterly Rides

    Quarterly Rides (in millions, except for percentages) 248.8 243.5 234.8 236.9 216.7 218.5 218.4 Q1'26 205.3 187.7 Rides: 236.9 million, +23% YoY +15% YoY +16% YoY +15% YoY +16% YoY +14% YoY +15% YoY +11% YoY +8% YoY 8% YoY Q1‘24 Q2‘24 Q3‘24 Q4‘24 Q1‘25 Q2‘25 Q3‘25 Q4‘25 Q1‘26 9

  10. Slide 10: Quarterly Gross Bookings

    Quarterly Gross Bookings (in millions, except for percentages) $5,074 $4,946 $4,780 $4,490 Q1ʼ26 Gross $4,279 $4,108 $4,162 $4,019 $3,693 +21% +17% +16% +15% +13% +12% +16% +19% +19% Bookings: YoY YoY YoY YoY YoY YoY YoY YoY YoY $4.9 billion, 19% YoY 1 $1,277 $1,436 $1,523 $1,550 $1,450 $1,588 $1

  11. Slide 11: Quarterly Adj. EBITDA & Margin

    Quarterly Adj. EBITDA & Margin (% of Gross Bookings) Q1ʼ26 (in millions, except for percentages) $154 $139 Adj. EBITDA $133 $129 $113 & Margin: $107 $106 $103 $133 million, $59 2.7% margin (% of Gross Bookings) 1.6% 2.6% 2.6% 2.6% 2.6% 2.9% 2.9% 3.0% 2.7% Q1‘24 Q2‘24 Q3‘24 Q4‘24 Q1‘25 Q2‘25 Q3‘25 Q4

  12. Slide 12: Free Cash Flow (TTM)

    Free Cash Flow (TTM) (in millions) $1,116 $1,122 $1,028 $993 $920 Q1ʼ26 Free Cash Flow: $766 $641 $1.1 billion $368 trailing twelve months ($0.2) ($0.2) ($0.2) Q1‘24 Q2‘24 Q3‘24 Q4‘24 Q1‘25 Q2‘25 Q3‘25 Q4‘25 Q1‘26 Note: The figures above are non-GAAP financial measures. Please see the explanation of n

  13. Slide 13: Q2'26 Guidance

    Q2ʼ26 Guidance Gross Bookings Approx. $5.30 billion to $5.43 billion, up approx. 18% to 21% year over year Adjusted EBITDA Approx. $160 million to $180 million Adjusted EBITDA margin Approx. 3.0% to 3.3% % of Gross Bookings) 13

  14. 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

  15. 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 Active Riders 21.9 23.7 24.4 24.7 24.2 26.1 28.7 29.2 28.3 Rides 187.7 205.3 216.7 218.5 828.3 218.4 234.8 248.8 243.5 945.5 236.9 Gross Booki

  16. 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 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 Short-term investments 1,157.7 1,196.0 1,156.7 1,225.1 1,

  17. 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 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 Insurance reserves 1,391.0 1,48

  18. 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 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 Cost and expenses Cost

  19. 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 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 Adjustments to reconci

  20. 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 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 $ 9

  21. 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 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 $ 20.0

  22. 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 Net cash provided by operating activities $ 156.2 $ 276.2 $ 264.0 $ 153.4 $ 849.7 $ 287.2 $ 343.7 $ 291.3 $ 246.2 $ 1,168.4 $ 307.7 Net cash provided by (

  23. 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 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 Certain legal, tax, and regulatory

  24. 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 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 Adjusted to exclude the following (as rel

  25. 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 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 De

  26. Slide 26: 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 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 Depre

  27. 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 GAAP Operating Expenses (excludes COR $ 584.8 $ 643.6 $ 691.1 $ 647.7 $ 2,567.2 $ 616.1 $ 650.0 $ 734.9 $ 805.9 $ 2,807.0 $ 791.7 Depreciation of

  28. 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 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 Non-GAAP Cost of

  29. 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 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 $ 46.1

  30. 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 Reconciliation of Net Cash Provided by Operating Activities to Free Cash Flow Net Cash Provided by Operating Activities¹ $ 156.2 $ 276.2 $ 264.0 $ 153.4 $ 849.7 $ 287.2

Lyft — Q1 2026 Earnings Presentation on 6ix