Lyft News

Lyft Q3’22 Driver Supply is Strong, Service Levels Competitive

Oct 7, 2022

There have been recent questions about the service levels and driver supply on our network and we want to set the record straight. 

Service levels in our marketplace are competitive. Across the US, average rideshare ETAs on the Lyft network in Q3’22 were faster than they were in Q2’22 and were getting even closer to where they were pre-Covid. In addition, our rideshare conversion rate in Q3’22 – meaning the percentage of ride intents that converted to actual rides taken – was the highest it has been in several years. 

More drivers are organically choosing Lyft. In Q3’22 we had the highest number of active drivers using our network in more than two years. We also saw the fastest quarter-over-quarter growth in total active drivers in a year, and new active drivers using Lyft grew at an even faster rate reflecting strong organic tailwinds. 

When small survey samples are used, they may not tell a complete story. 

Forward-Looking Statements: 

Certain statements contained in this announcement are “forward-looking statements” within the meaning of the securities laws, including statements about service levels and driver supply on Lyft’s network. Such statements, which are not of historical fact, involve estimates, assumptions, judgments and uncertainties. There are a number of factors that could cause actual results or outcomes to differ materially from those addressed in the forward-looking statements. Such factors are detailed in Lyft’s filings with the Securities and Exchange Commission. Lyft disclaims any obligation to update any forward-looking statements to reflect future events, except as required by applicable law.