US ride-hailing company Lyft has reported an 11% year-on-year (YoY) increase in revenue to $1.6bn for the second quarter (Q2) of 2025, with record rides, gross bookings, and cash flow generation.
The company experienced a 14% increase in rides to all-time high of 234.8 million and a 10% growth in active riders to 26.1 million.
The company's gross bookings rose 12% YoY to $4.5bn and it posted record free cash flow of $329.4m compared to $256.4m in the second quarter of 2024.
Lyft CFO Erin Brewer said: “Q2 was another quarter of strong execution with all-time record Rides, Gross Bookings, and cash flow generation. These results showcase our commitment to operational excellence and customer obsession.
“With market expansion and our strategic partnerships, we’re ready to accelerate growth and deliver on our long-term targets.”
Net income for the quarter was reported at $40.3m, compared to $5.0m in Q2 2024.
This represents a net income margin of 0.9% of gross bookings, an increase from 0.1% reported in Q2 of the prior year.
The adjusted earnings before interest taxes depreciation and amortisation (EBITDA) for the quarter were $129.4m, a 26% increase from $102.9m in Q2 last year, with the adjusted EBITDA margin reaching 2.9% of gross bookings.
Lyft's cash flow indicators were positive, with net cash provided by operating activities reported at $343.7m.
During the quarter, Lyft repurchased 12.8 million shares for $200m as part of its share repurchase programme.
Lyft announced new partnerships with United Airlines and Benteler Mobility.
It also reported an increase in driver preference for its multimodal platform and noted that the Lyft Silver programme is performing well, with a high retention rate among users.
Enhancements to the company's offerings for business travellers have been implemented, with linked business accounts now earning Lyft Cash and travel partner points on eligible rides.
Looking ahead, Lyft's Q3 outlook includes rides growth in the mid-teens YoY, with gross bookings expected to be between $4.65bn and $4.80bn.
The company forecasts an adjusted EBITDA of approximately $125m to $145m.
The recent acquisition of Freenow is set to contribute to Lyft's Q3 results.
Additionally, Lyft's collaboration with Baidu aims to introduce robotaxis in Europe, with plans to commence operations in the upcoming year.
CEO David Risher stated: “Our marketplace is thriving, our TAM is expanding with the close of Freenow, and we are building meaningful partnerships, including with Baidu and United Airlines. We're proving that Lyft isn’t just another rideshare option – it’s the better choice.”
