“Our customer-obsessed comeback continues,” said Lyft CEO David Risher. “We delivered on all our financial commitments, grew share in the United States, and deepened our global expansion. Looking ahead, our state-of-the-art Flexdrive AV operation in Nashville sets the stage for a hybrid AV future. Lyft is performing while transforming.”
“We’ve executed another strong quarter with double-digit year-over-year growth across Active Riders and Gross Bookings, while generating over $1 billion in cash for the trailing twelve months,” said CFO Erin Brewer. “These results reflect the strength of our foundation and drives confidence in our growth to accelerate in Q2.”
Q1 Results
Active Riders growth of 17% year over year.
Gross Bookings growth of 19% year over year.
Adjusted EBITDA growth of 25% year over year.
Delivered record free cash flow of $1.12 billion for the trailing twelve months.
Returned capital to shareholders through our largest quarterly repurchase ever totaling ~$300 million.
Q1 delivered high peaks that showed both the strength and resilience of rideshare demand as we delivered double-digit rides growth around peak events like Valentine’s Day, Super Bowl, and St. Patrick’s Day. And in March, we delivered our highest number of rides in a week. Ever.
Going forward, we are forecasting an acceleration across the business, which is typical as we head into Q2. Partnerships, product innovation, and operational excellence will continue to bring in new riders, more rides, and drive frequency. At the same time, we’re diversifying - in new geographies, into more premium options, with Lyft Ads, and finally, with autonomous vehicles.
The foundation we've spent years building is strong and getting stronger. Lyft is competing at a higher level - offering a faster, better, and a more competitively priced experience. We achieved these results in partnership with drivers and riders, best-in-class companies, and world-class technology leaders, and together, we are well-positioned to deliver on what comes next.
Q2 Guidance
Gross Bookings of approximately $5.30 billion to $5.43 billion, up approximately 18% to 21% year over year.
Adjusted EBITDA of approximately $160 million to $180 million with an Adjusted EBITDA margin (calculated as a percentage of Gross Bookings) of approximately 3.0% to 3.3%.
Read Lyft's full Q1 2026 earnings press release here.
Non-GAAP Financial Measures
These statements include non-GAAP financial measures. Additional disclosures regarding these non-GAAP measures, including a reconciliation of GAAP to non-GAAP measures, are included in the press release (linked above), supplemental slides and our filings with the Securities and Exchange Commission (“SEC”), each of which is posted to investor.lyft.com.
Forward Looking Statements
Certain statements in this blog post are forward-looking statements. You should not place undue reliance on forward-looking statements. Actual results may differ materially from these forward-looking statements, and we do not undertake any obligation to update any forward-looking statements, except as required by law. For more information about factors that may cause actual results to differ materially from forward-looking statements, please refer to our press release, supplemental slides, and filings made with the SEC.