Lyft, Inc. (LYFT) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon, and welcome to Lyft's third quarter 2025 earnings call. As a reminder, this conference call is being recorded. I'm Aurélien North, VP of P&A and Investor Relations. On the call today, we have our CEO, David Reicher, and our CFO, Erin Brewer. As a reminder, our full prepared remarks are available on the IR website, and we will use this time to answer your questions. We will make forward-looking statements on today's call relating to our business strategy and performance, partnerships, future financial and operating results, trends in our marketplace, and guidance. These statements are subject to risks and uncertainties that could cause our actual results to differ materially from those projected or implied during this call. These factors and risks are described in our earnings materials and in our recent SEC filings. All of the forward-looking statements that we make on today's call are based on our beliefs as of today, and we disclaim any obligation to update any forward-looking statements except as required by law. Additionally, today, we are going to discuss customers. For rideshare, there are two customers in every car. The driver is the lift customer, and the rider is the driver customer. We care about both. Our discussion today will also include non-GAAP financial measures which are not a substitute for gap results. Reconciliations of our historical gap to non-gap results can be found in our earnings materials, which are available on our IR website. And with that, I will pass the call on to David. Thank you, Aurelien. Wow. Q3 was another record quarter across driver hours, active riders, and gross bookings. Adjusted EBITDA grew 29% year over year, and our free cash flow generation for the trailing 12 months was over $1 billion for the first time ...