“We have surpassed 30 million Active Riders globally, our highest ever, as more people embed Lyft into their everyday lives,” said Lyft CEO David Risher. “This milestone is driven by our customer obsession and operational excellence, and fuels our transformation into a hybrid transportation platform while we deliver strong financial performance. So buckle up, the opportunity ahead is massive, and we’re just getting started.”
“The business delivered acceleration in the second quarter, with growth in Rides and Gross Bookings reaching record levels, alongside continued strong cash generation of over $1 billion for the trailing twelve months,” said CFO Erin Brewer. “These results reflect the strength of our foundation and give us confidence in the road ahead.”
Q2 Financial Results
Gross Bookings growth of 23% year over year.
Adjusted EBITDA growth of 37% year over year.
Free cash flow of $1.1 billion for the trailing twelve months.
Q2 = More riders, more rides, more ways to ride.
Active Riders grew 17% year over year to an all-time high of over 30 million, proving the durable strength of our marketplace as more people embed Lyft into their everyday lives.
Rides grew 12% year over year to 262 million with global strength across Freenow by Lyft in Europe, North American rideshare, and Lyft Urban Solutions (LUS).
In Q2, approximately 30% of North American rideshare rides were linked to a partner, a new all-time high. Our continued growth underscores the strength of our collaborative approach to partnerships.
In Nashville, in partnership with Waymo, our fleet operations officially began in June and are running smoothly as we gear up for the opening of our 80,000-square-foot purpose-built AV depot in October.
Global growth: one year in and we’re on our way to one unified Lyft app; beta testing is live in over a dozen European cities, from Munich to Madrid and more.
Rideshare is embedded into people’s everyday lives, and Lyft’s Q2 results are proof. With a record 30.5 million Active Riders taking a record 262 million Rides, we’re well on our way to over 1 billion Rides in 2026.
Why does Lyft keep growing? We are relentless about customer obsession, operational excellence, and being the best partner. That showed up everywhere this quarter, from the daily commute to a once-in-a-lifetime World Cup moment proving that wherever you're headed, Lyft is ready to meet you there.
Q3 guidance
Gross Bookings of approximately $5.50 billion to $5.67 billion, up approximately 15% to 19% year over year.
Adjusted EBITDA of approximately $183 million to $203 million with an Adjusted EBITDA margin (calculated as a percentage of Gross Bookings) of approximately 3.3% to 3.6%.
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, including but not limited to, Lyft’s guidance and outlook, including expectations for the third quarter 2026, Lyft’s strategies and opportunity, Lyft’s expectations regarding AV technology, Lyft’s plans and expectations regarding its new and existing strategic partnerships, Lyft’s expectations regarding our acquisitions and their anticipated impacts on our international operations and financial results, and risks related to their integrations and operations. 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.