Lyft, Inc. · NASDAQ:LYFT

Lyft — Q3 2026 Earnings Presentation

32 slides from Lyft's earnings presentation, Nov 5, 2026

  1. Slide 1: Q3 2026 Earnings

    Q3 2026 Earnings November 5, 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

  3. Slide 3: Operational excellence drives us further up, out, and forward

    QUARTERLY HIGHLIGHTS Operational excellence drives us further up, out, and forward. Q3’26 31.6 million Gross Adj. EBITDA Free cash Active Riders Bookings: margin flow: 1 took 273.5 $5.6 billion, % of Gross Bookings): (1) $1.1 billion (2) million Rides 17% YoY 3.6% (trailing twelve months) (1) Th

  4. Slide 4: Performing with excellence while transforming up, out, and forward

    Performing with excellence while transforming up, out, and forward. Operational excellence is firing on all cylinders ● Record driver hours → faster ETAs YoY and QoQ ● Ebike fleet management → all-time-high bike rides ● Launched Lyft Go, the best-in-industry membership program Delivering strong Q3 r

  5. Slide 5: Everyday rides to everyday rewards

    PERFORMING WITH EXCELLENCE Everyday rides to everyday rewards. As we collaborate with our partners to add value for riders, North American rideshare rides linked to a partner hit record levels in Q3. Lyft Go, the latest expansion of Lyftʼs growing partnership with DoorDash in the U.S., adds to this

  6. Slide 6: Introducing Alcove

    GROWTH STRATEGY: UP Introducing Alcove. In October 2026, Lyft announced Alcove, a new global chauffeur network that expands our presence in ultra-luxury chauffeuring: ● The global chauffeur market is worth tens of billions of dollars ● 61% of travel buyers struggle to manage cross-regional travel, a

  7. Slide 7: The Lyft app takes us further

    GROWTH STRATEGY: OUT The Lyft app takes us further. Just over a year after we closed our acquisition of Freenow, our deal thesis is playing out. Weʼre taking our foundational strength in North America across the pond, and weʼre delivering on our strategy: ✓ Grow our European business In Q3, Freenow

  8. Slide 8: Our hybrid future is shifting into gear

    GROWTH STRATEGY: FORWARD Our hybrid future is shifting into gear. In Q3, Lyft rides in the San Francisco service area shared with AVs saw the strongest year-over-year growth of any area where AVs operate. Thatʼs proof AVs are rising tides for all. Weʼre going deeper with partners, as rideshare and A

  9. Slide 9: Results & Guidance

    Results & Guidance

  10. Slide 10: Quarterly Active Riders

    Quarterly Active Riders (in millions, except for percentages) 31.6 30.5 28.7 29.2 28.3 26.1 24.4 24.7 24.2 Q3ʼ26 Active Riders: 31.6 million, +9% YoY +10% YoY +11% YoY +10% YoY +18% YoY +18% YoY +17% YoY +17% YoY +10% YoY 10% YoY Q3‘24 Q4‘24 Q1‘25 Q2‘25 Q3‘25 Q4‘25 Q1‘26 Q2‘26 Q3‘26 10

  11. Slide 11: Quarterly Rides

    Quarterly Rides (in millions, except for percentages) 273.5 262.4 248.8 243.5 234.8 236.9 Q3'26 216.7 218.5 218.4 Rides: 273.5 million, +16% YoY +15% YoY +16% YoY +14% YoY +15% YoY +11% YoY +8% YoY +12% YoY +10% YoY 10% YoY Q3‘24 Q4‘24 Q1‘25 Q2‘25 Q3‘25 Q4‘25 Q1‘26 Q2‘26 Q3‘26 11

  12. Slide 12: Quarterly Gross Bookings

    Quarterly Gross Bookings (in millions, except for percentages) $5,617 $5,504 $5,074 $4,946 Q3ʼ26 Gross $4,780 $4,490 $4,279 $4,108 $4,162 +16% +15% +13% +12% +16% +19% +19% +23% +17% Bookings: YoY YoY YoY YoY YoY YoY YoY YoY YoY $5.6 billion, 17% YoY (1) (2) $1,523 $1,550 $1,450 $1,588 $1,685 $1,59

  13. Slide 13: Quarterly Adj. EBITDA & Margin

    Quarterly Adj. EBITDA & Margin (% of Gross Bookings) Q3ʼ26 $204 (in millions, except for percentages) $177 $139 $154 $133 Adj. EBITDA & Margin: $129 $113 $107 $106 $204 million, 3.6% margin 2.6% 2.6% 2.6% 2.9% 2.9% 3.0% 2.7% 3.2% 3.6% (% of Gross Bookings) Q3‘24 Q4‘24 Q1‘25 Q2‘25 Q3‘25 Q4‘25 Q1‘26 Q

  14. Slide 14: Free Cash Flow (TTM)

    Free Cash Flow (TTM) (in millions) $1,116 $1,122 $1,112 $1,129 $1,028 $993 $920 Q3ʼ26 Free Cash Flow: $766 $641 $1.1 billion trailing twelve months Q3‘24 Q4‘24 Q1‘25 Q2‘25 Q3‘25 Q4‘25 Q1‘26 Q2‘26 Q3‘26 Note: The figures above are non-GAAP financial measures. Please see the explanation of non-GAAP meas

  15. Slide 15: Q4'26 Guidance

    Q4ʼ26 Guidance Gross Bookings Approx. $5.74 billion to $5.94 billion, up approximately 13% to 17% year over year Adjusted EBITDA Approx. $188 million to $213 million, up approximately 22% to 38% year over year Adjusted EBITDA margin Approx. 3.3% to 3.6% (% of Gross Bookings) 15

  16. Slide 16: Financial Results: Reconciliations from GAAP to Non-GAAP and Trended Financial Statements

    Financial Results: Reconciliations from GAAP to Non-GAAP and Trended Financial Statements

  17. Slide 17: 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 Q3 Active Riders 21.9 23.7 24.4 24.7 24.2 26.1 28.7 29.2 28.3 30.5 31.6 Rides 187.7 205.3 216.7 218.5 828.3 218.4 234.8 248.8 243.5 945.5 2

  18. Slide 18: 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 Q3 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 $ 1,308.9 Short-term investments 1,157.7

  19. Slide 19: 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 Q3 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 $ 106.3 Insurance

  20. Slide 20: 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 Q3 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 $ 1,82

  21. Slide 21: 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 Q3 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 $ 9.7 A

  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 Q2 Q3 Cash flows from investing activities Purchases of marketable $ 1,124.1 $ 978.2 $ 874.3 $ 1,200.8 $ 4,177.4 $ 1,028.8 $ 565.4 $ 938.5

  23. Slide 23: 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 Q3 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 $

  24. Slide 24: 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 Q3 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 $ 328.4 activities

  25. Slide 25: 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 Q3 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 $ 1,821.8 Certain l

  26. Slide 26: 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 Q3 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 $ 871.4 Adjusted to exc

  27. Slide 27: 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 Q3 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

  28. Slide 28: 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 Q3 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

  29. Slide 29: 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 Q3 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 $ 9

  30. Slide 30: 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 Q3 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

  31. Slide 31: 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 Q3 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

  32. Slide 32: 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 Q3 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

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