LYFT on Nasdaq

Lyft

Logo: Lyft, Inc., Public domain, via Wikimedia Commons5

American ride-sharing company

Lyft, Inc. is an American company offering ride-hailing services, e-scooters, and bicycle-sharing systems in the United States and Canada, and, via its Freenow mobile app, Europe. Lyft is the second-largest ridesharing company in the United States after Uber. It has 25 million active riders and coordinates 9 million rides per day.3 It was founded by Logan Green and John Zimmer.1 Its chief executive is Logan Green.1 Its revenue was $700 million.1 Wikipedia text CC BY-SA 4.0

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Last updated Oct 21, 2026.

Overview

2013Founded1

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  • TickerLYFT on Nasdaq1
  • Industrytaxi service, transport1
  • HeadquartersSan Francisco1
  • Websitewww.lyft.com
  • Legal formDelaware corporation1
  • Incorporated inDE6
  • Business address185 Berry Street, Suite 400, San Francisco, Ca 941076
  • Filer categoryLarge accelerated filer6
  • LEI549300H7I5VN334XVZ524
  • StatusActive4
  • LEI statusIssued and current4
  • Registered addressc/o THE CORPORATION TRUST COMPANY, CORPORATION TRUST CENTER 1209 ORANGE ST, 19801 Wilmington, United States4
  • Registered withDivision of Corporations, Department of State, 43112454

Lyft, Inc. is an American company offering ride-hailing services, e-scooters, and bicycle-sharing systems in the United States and Canada, and, via its Freenow mobile app, Europe. Lyft is the second-largest ridesharing company in the United States after Uber. It has 25 million active riders and coordinates 9 million rides per day.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

-3.2%Operating margin9
48.2%Net margin9
9.9%Revenue growth, 20259
86.9%Return on equity9
0.31×Debt to equity9

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Regions

United States brought in 96% of the revenue Lyft broke down this way in fiscal 2025.

  1. United States$6.1B996%up 7% from 2024
  2. Outside the United States$256.0M94%up 83% from 2024
Regions by year
Regions202320242025
United States$4.2B$5.6B$6.1B
Outside the United States$158.5M$140.1M$256.0M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue37¢$3.7B
  • Research and development5¢$451.4M
  • Income tax29¢$2.9B
  • Profit29¢$2.8B

Out of $5.9B in revenue.9

Where each dollar of operating cash went, fiscal 2025

  • Share buybacks43¢$500.0M
  • Kept or used elsewhere57¢$668.4M

Out of $1.2B of cash from operations.9

Financial statements

Revenue101112139$5.9B in 2025+70% since 2019
0$2.0B$4.0B$6.0B2019: $3.5B$3.5B20192020: $2.2B$2.2B2020−36%2021: $3.0B$3.0B2021+34%2022: $3.8B$3.8B2022+29%2023: $4.1B$4.1B2023+8%2024: $5.4B$5.4B2024+30%2025: $5.9B$5.9B2025+10%
Operating income101112139-$188.4M in 2025−93% since 2019
-$3.0B-$2.0B-$1.0B02019: -$2.7B-$2.7B20192020: -$1.8B-$1.8B2020−33%2021: -$1.1B-$1.1B2021−37%2022: -$1.5B-$1.5B2022+29%2023: -$475.6M-$475.6M2023−67%2024: -$118.9M-$118.9M2024−75%2025: -$188.4M-$188.4M2025+58%
Net income101112139$2.8B in 2025
-$4.0B-$2.0B0$2.0B$4.0B2019: -$2.6B-$2.6B20192020: -$1.8B-$1.8B2020−33%2021: -$1.1B-$1.1B2021−39%2022: -$1.6B-$1.6B2022+49%2023: -$340.3M-$340.3M2023−79%2024: $22.8M$22.8M20242025: $2.8B$2.8B2025+12382%

Every line of the income statement as filed: the last 3 fiscal years, latest first.9

Period ending2025-12-312024-12-312023-12-31
Revenue$6.3B$5.8B$4.4B
Cost of revenue$3.7B$3.3B$2.5B
Operations and support$478.3M$443.8M$427.2M
Research and development$451.4M$397.1M$555.9M
Sales and marketing$875.1M$789.0M$481.0M
General and administrative$1.0B$937.3M$871.1M
Total costs and expenses$6.5B$5.9B$4.9B
Loss from operations-$188.4M-$118.9M-$475.6M
Interest expense-$20.8M-$28.9M-$26.2M
Other income, net$155.9M$173.2M$170.1M
(Loss) income before income taxes-$53.2M$25.4M-$331.7M
(Benefit from) provision for income taxes-$2.9B$2.6M$8.6M
Net income (loss)$2.8B$22.8M-$340.3M
Basic (in dollars per share)$6.92$0.06-$0.88
Diluted (in dollars per share)$6.81$0.06-$0.88
Basic (in shares)410.8M shares409.2M shares385.3M shares
Diluted (in shares)417.7M shares413.7M shares385.3M shares

Compare Lyft with another company

Corporate structure

Lyft sits at the top of its group. 9 entities, 5 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Lyft

  • Lyft San Francisco, California, United States
    • Freenow Subsidiary · Hamburg
      • Kapten Subsidiary · Paris, France
    • Lyft Urban Solutions Subsidiary · Longueuil
      • Pedalem Barcelona Subsidiary · Spain
      • UTE Bicicletas Zaragoza Subsidiary · Spain
    • Motivate Subsidiary · Portland
    • Kamcord Subsidiary
    • Pacific Valley Insurance Company, Inc. Subsidiary · Hawaii, United States

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; subsidiaries, stakes and holdings from Wikidata (CC0); major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Lyft reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Finance-lease assets$69.5M9 Dec 31, 2025$79.7M9 Dec 31, 2024−12.8%
Operating-lease assets (leased space)$165.6M9 Dec 31, 2025$148.4M9 Dec 31, 2024+11.6%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$1.1B9 Dec 31, 2025$759.3M9 Dec 31, 2024+49.1%
Marketable securities, current$705.2M9 Dec 31, 2025$1.2B9 Dec 31, 2024−42.4%
Debt securities available for sale$1.9B9 Dec 31, 2025$2.6B9 Dec 31, 2024−24.9%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$439.8M9 Dec 31, 2025$251.4M9 Dec 31, 2024+74.9%
Finite-lived intangibles, gross$297.6M9 Dec 31, 2025$140.1M9 Dec 31, 2024+112.4%
Accumulated amortization$118.7M9 Dec 31, 2025$97.4M9 Dec 31, 2024+21.9%
Finite-lived intangibles, net$178.9M9 Dec 31, 2025$42.8M9 Dec 31, 2024+318.3%

Properties, in its own words

Our corporate headquarters are located in San Francisco, California, and consist of approximately 170,000 square feet under lease agreements. We maintain additional offices in multiple locations in the U.S. and internationally.

We lease all of our facilities and do not own any real property. We believe our facilities are adequate and suitable for our current needs and that, should it be needed, suitable additional or alternative space will be available to accommodate our operations.

Item 2 of the 10-K filed Feb 11, 2026.17

Stakes and holdings (Wikidata)

Things Wikidata records the company as owning, with the share when stated.1

The story

Founded by John Zimmer and Logan Green in 2013.1

Leadership

Who has led Lyft, and when. Pick a name to see everywhere that person has worked.

Board members and other officers (23)

Subsidiaries and ownership

Subsidiaries

Also owns

Subsidiaries (Exhibit 21)

  • Pacific Valley Insurance Company, Inc. Hawaii7

From Wikidata.1 The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Acquisitions

  1. 2025Acquired Freenow1
  2. May 17, 2022Acquired Lyft Urban Solutions1
  3. Nov 7, 2017Acquired Kamcord1

Timeline

  1. Oct 1, 20268-K Regulation FD disclosure46
  2. Sep 9, 20268-K Executive or director change; Regulation FD disclosure47
  3. Aug 6, 20268-K Results of operations; Regulation FD disclosure48
  4. Jul 27, 20268-K Executive or director change49
  5. Jun 4, 20268-K Bylaws or fiscal year changed; Shareholder vote50
  6. May 7, 20268-K Results of operations; Regulation FD disclosure51
  7. Feb 10, 20268-K Results of operations; Regulation FD disclosure; Other events52
  8. Jan 27, 20268-K Executive or director change53
  9. Nov 5, 20258-K Results of operations; Regulation FD disclosure54
  10. Sep 5, 20258-K Entered a material agreement; New debt or obligation; Unregistered sale of shares55
  11. Aug 14, 20258-K Change to shareholders' rights; Executive or director change; Bylaws or fiscal year changed56
  12. Aug 6, 20258-K Results of operations; Regulation FD disclosure57
  13. Apr 24, 2023New chief executive John David Risher becomes CEO18
  14. Mar 28, 2019New chief executive Logan Green becomes CEO1
  15. 2013Founded Founded1

Calendar

Coming up

  1. Nov 5, 2026 · After the closeReports results for the quarter ending Sep/2026 A year earlier it reported $0.13 a share, on Nov 5, 2025.58

When it reported results

  1. Aug 6, 2026Reported quarterly or annual results48
  2. May 7, 2026Reported quarterly or annual results51
  3. Feb 10, 2026Reported quarterly or annual results52
  4. Nov 5, 2025Reported quarterly or annual results54
  5. Aug 6, 2025Reported quarterly or annual results57
  6. May 8, 2025Reported quarterly or annual results59
  7. Feb 11, 2025Reported quarterly or annual results60
  8. Nov 6, 2024Reported quarterly or annual results61

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

582 filings to the SEC since October 2021: 6 annual reports, 15 quarterly reports, 59 major events, 331 insider forms, 42 large holders, 129 other. The latest 20:

  1. Oct 2, 20263 EDGAR
  2. Oct 1, 20268-K EDGAR
  3. Sep 25, 20264 EDGAR
  4. Sep 24, 2026144 EDGAR
  5. Sep 9, 20268-K EDGAR
  6. Sep 3, 20264 EDGAR
  7. Sep 1, 2026144 EDGAR
  8. Aug 31, 20264 EDGAR
  9. Aug 31, 20264 EDGAR
  10. Aug 31, 20264 EDGAR
  11. Aug 27, 20264 EDGAR
  12. Aug 27, 2026144 EDGAR
  13. Aug 27, 2026144 EDGAR
  14. Aug 27, 2026144 EDGAR
  15. Aug 26, 20264 EDGAR
  16. Aug 25, 2026144 EDGAR
  17. Aug 24, 20264 EDGAR
  18. Aug 24, 20264 EDGAR
  19. Aug 24, 20264 EDGAR
  20. Aug 11, 20264 EDGAR

The 582 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

112 open-market trades by officers, directors and large owners since October 2021: 9 buys and 103 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Sep 24, 2026Brewer ErinCHIEF FINANCIAL OFFICERSale15,000$14.64$219.6KForm 4
Sep 1, 2026Llewellyn Lindsay CatherineSEE REMARKSSale13,204$16.64$219.7KForm 4
Aug 27, 2026Beggs JillDirectorSale2,307$17.34$40.0KForm 4
Aug 27, 2026Hope Stephen W.CHIEF ACCOUNTING OFFICERSale5,982$17.34$103.7KForm 4
Aug 27, 2026Lawee DavidDirectorSale4,613$17.33$79.9KForm 4
Aug 25, 2026Whiteside JaneyDirectorSale5,480$17.68$96.9KForm 4
Aug 24, 2026Brewer ErinCHIEF FINANCIAL OFFICERSale15,000$17.63$264.4KForm 4
Aug 7, 2026Whiteside JaneyDirectorSale14,220$17.00$241.7KForm 4
Aug 3, 2026Llewellyn Lindsay CatherineSEE REMARKSSale36,214$16.14$584.5KForm 4
Jun 12, 2026Brewer ErinCHIEF FINANCIAL OFFICERSale15,000$13.59$203.8KForm 4
Jun 1, 2026Llewellyn Lindsay CatherineSEE REMARKSSale11,491$15.00$172.4KForm 4
May 27, 2026Beggs JillDirectorSale2,093$13.76$28.8KForm 4
May 27, 2026Hope Stephen W.CHIEF ACCOUNTING OFFICERSale5,460$13.76$75.1KForm 4
May 26, 2026Llewellyn Lindsay CatherineSEE REMARKSSale11,491$13.69$157.3KForm 4
Apr 17, 2026Llewellyn Lindsay CatherineSEE REMARKSSale23,661$15.00$354.9KForm 4
Feb 27, 2026Beggs JillDirectorSale2,093$13.89$29.1KForm 4
Feb 27, 2026Hope Stephen W.CHIEF ACCOUNTING OFFICERSale5,284$13.83$73.1KForm 4
Feb 25, 2026Llewellyn Lindsay CatherineSEE REMARKSSale23,661$13.30$314.7KForm 4
Feb 13, 2026Risher John DavidChief Executive OfficerBuy7,490$13.38$100.2KForm 4
Dec 10, 2025Risher John DavidChief Executive OfficerBuy5,030$19.80$99.6KForm 4

All 112 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Erin Brewer54$650.0K$6.0M73
2025Lindsay Llewellyn43$650.0K$5.3M73
2025David Risher60$725.0K$2.8M73
2024Chief Legal and Business Officer and Corporate Secretary$534.5K$8.0M73
2024Chief Financial Officer$650.0K$4.3M73
2024Chief Executive Officer and member of our board of directors$725.0K$1.3M73
2023Chief Executive Officer and member of our board of directors$515.0K$78.2M73
2023Chief Financial Officer$300.0K$21.9M73

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Ameriprise Financial Inc61,317,026$895.9M0.2%+24,835,898
BlackRock, Inc.47,322,814$691.4M0.0%−1,678,056
Millennium Management LLC21,537,770$314.7M0.2%−227,344
Vanguard Portfolio Management LLC18,670,976$272.8M0.0%−2,507,073
Vanguard Capital Management LLC16,511,832$241.2M0.0%−740,955
State Street Corp13,474,201$196.9M0.0%+281,708
Goldman Sachs Group Inc11,913,816$174.1M0.0%+6,745,910
Contour Asset Management LLC11,173,228$163.2M3.9%−778,650
Fmr LLC10,832,298$158.3M0.0%−7,707,463
Dimensional Fund Advisors LP9,236,397$135.0M0.0%+2,515,919
Renaissance Technologies LLC8,189,132$119.6M0.2%−975,500
Morgan Stanley7,450,229$108.8M0.0%+237,829
American Century Companies Inc6,976,339$101.9M0.0%+2,830,668
Geode Capital Management, LLC6,925,144$101.2M0.0%−305,882
Jupiter Asset Management Ltd6,637,472$97.0M0.5%−3,654,534
Altshuler Shaham Ltd6,385,582$93.3M1.2%−1,276,445
Norges Bank5,350,229$78.2M0.0%New
Los Angeles Capital Management LLC4,299,531$62.8M0.2%+917,995
Primecap Management Co/ca/4,096,320$59.8M0.0%−127,310
Swedbank AB4,029,600$58.9M0.1%No change
Charles Schwab Investment Management Inc3,995,792$58.4M0.0%−169,159
UBS Group AG3,986,546$58.2M0.0%−405,837
Principal Financial Group Inc3,919,772$57.3M0.0%−326,747
UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC3,871,587$56.6M0.0%−305,380
Aqr Capital Management LLC3,198,241$46.7M0.0%−6,409,215

13F reports cover disclosed long positions in U.S. stocks only.

Members of Congress who traded it

7 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

DateMemberTradeAmountVs S&P sinceFiling
Feb 16, 2021Peter Meijer, HouseSale$876+167.4%Report
Oct 26, 2020Josh GottheimerDemocratic, HouseSale$1,001 - $15,000+158.3%Report
Oct 16, 2020Josh GottheimerDemocratic, HouseBuy$1,001 - $15,000−155.0%Report
Sep 15, 2020Josh GottheimerDemocratic, HousePartial sale$1,001 - $15,000+170.1%Report
Jun 5, 2020Josh GottheimerDemocratic, HouseBuy$1,001 - $15,000−197.2%Report
Aug 5, 2019Thomas R. SuozziDemocratic, HouseSale$1,001 - $15,000+243.1%Report
Jul 8, 2019Thomas R. SuozziDemocratic, HouseBuy$1,001 - $15,000−231.3%Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

SEC filer profile

How Lyft is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARLyft, Inc.2
  • CIK0001759509
  • Employer ID (EIN)20-880983017
  • Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company17
  • Incorporated inDelaware17
  • Fiscal year endsDecember 312
  • Industry code (SIC)7389 Services-Business Services, NEC2
  • SEC reviewing officeOffice of Energy & Transportation, Division of Corporation Finance2
  • Business address185 Berry Street, Suite 400, San Francisco, CA 941072
  • Phone844-250-27732
  • Shares outstanding378,540,249 as of Jul 31, 202615
  • Public float$6.3B as of Jun 30, 202517
  • AuditorPricewaterhouseCoopers LLP, San Francisco, California PCAOB ID 238; it also attests to the company’s internal control over financial reporting17
  • On EDGAR sinceDec 6, 20182
  • Filings871 in all: 4 (498), 8-K (86), 144 (84), 3 (30), 10-Q (23), SC 13G/A (20), SCHEDULE 13G/A (15), CORRESP (11)2
    All 39 form types

    SC 13G (10), UPLOAD (10), DEFA14A (9), S-8 (8), SCHEDULE 13G (8), 10-K (7), DEF 14A (6), PX14A6G (6), SD (5), 8-K/A (4), ARS (3), DFAN14A (3), 144/A (2), DEFC14A (2), DRS/A (2), DRSLTR (2), PREC14A (2), S-1/A (2), 10-K/A (1), 4/A (1), 40-APP (1), 424B4 (1), 8-A12B (1), APP NTC (1), CERT (1), DEFR14A (1), DRS (1), EFFECT (1), PRE 14A (1), S-1 (1), S-1MEF (1)

  • Latest filingsAnnual report (10-K) Feb 11, 2026
    Quarterly report (10-Q) Aug 7, 2026
    Proxy statement (DEF 14A) Apr 10, 2026
    Latest 8-K (8-K) Oct 1, 2026

Securities registered for trading

ClassSymbolExchange
Class A common stock, par value of $0.00001 per shareLYFTNasdaq Global Select Market

From the cover page of the 10-K filed Feb 11, 2026 (Section 12(b) of the Exchange Act).17

Risk factors and legal proceedings

The risks Lyft names in Item 1A of its 10-K filed Feb 11, 2026: 64 risks under these headings, as written.17

  • Operational Factors
  • General Economic Factors
  • Regulatory and Legal Factors
  • Financing and Transactional Risks
  • Governance Risks and Risks related to Ownership of our Capital Stock
  • Risks Related to Operational Factors
  • Our evolving business makes it difficult to evaluate our future prospects and the risks and challenges we may encounter.
  • Our financial performance in recent periods may not be indicative of future performance, and we may not be able to achieve or maintain profitability in the future.
  • We face intense competition and could lose market share to our competitors, which could adversely affect our business, financial condition and results of operations.
  • If our markets do not continue to grow, grow more slowly than we expect or fail to grow as large or otherwise develop as we expect, our business, financial condition and results of operations could be adversely affected.
  • If we fail to cost-effectively attract and retain qualified drivers on our platform, or to increase the utilization of our platform by existing drivers, our business, financial condition and results of operations could be harmed.
  • If we fail to cost-effectively attract new riders, or to increase utilization of our platform by existing riders, our business, financial condition and results of operations could be harmed.
The other 57 risks
  • We rely substantially on our wholly-owned subsidiary and deductibles to insure auto-related risks and on third-party insurance policies to insure and reinsure our operations-related risks. If our insurance or reinsurance coverage is insufficient for the needs of our business or our insurance providers are unable to meet their obligations, we may not be able to mitigate the risks facing our business, which could adversely affect our business, financial condition and results of operations.
  • Our actual losses may exceed our insurance reserves, which could adversely affect our financial condition and results of operations.
  • We rely on a limited number of third-party insurance service providers for our auto-related insurance claims, and if such providers fail to service insurance claims to our expectations or we do not maintain business relationships with them, our business, financial condition and results of operations could be adversely affected.
  • Our reputation, brand and the network effects among the drivers and riders on our platform are important to our success, and if we are not able to maintain and continue developing our reputation, brand and network effects, our business, financial condition and results of operations could be adversely affected.
  • Illegal, improper or otherwise inappropriate activity of users, whether or not occurring while utilizing our platform, has and could continue to expose us to liability and harm our business, brand, financial condition and results of operations.
  • We rely on third-party background check providers to screen potential and existing drivers, and if such providers fail to furnish and/or provide accurate information, or if such providers are unable to complete background checks or are delayed in completing background checks because of data access restrictions, software outages, cyberattacks, or otherwise, or if we do not maintain business relationships with them, our business, financial condition and results of operations could be adversely affected.
  • Changes to our pricing could adversely affect our ability to attract or retain qualified drivers and riders.
  • If we are unable to efficiently grow and further develop our network of shared bikes and scooters, which may not grow as we expect or become profitable over time, and manage the related risks, our business, financial condition and results of operations could be adversely affected.
  • Challenges relating to the supply chain for our network of shared bikes and scooters could adversely affect our business, financial condition and results of operations.
  • If we are unable to efficiently develop, enable, or implement partnerships with other companies to offer AV technologies on our platform in a timely manner, our business, financial condition and results of operations could be adversely affected.
  • The AV industry may not continue to develop, or AVs may not be adopted by the market, which could adversely affect our prospects, business, financial condition and results of operations.
  • Claims from riders, drivers or third parties that allege harm, whether or not our platform is in use, adversely affect our business, brand, financial condition and results of operations.
  • Our shared bikes and scooters have experienced product issues from time to time, which has in the past resulted in, and, in the future may result in, product recalls and removal from service, injuries, litigation, enforcement actions and regulatory proceedings, and could adversely affect our business, brand, financial condition and results of operations.
  • Any actual or perceived security or privacy breach or incident could interrupt our operations, harm our brand and adversely affect our reputation, brand, business, financial condition and results of operations.
  • We primarily rely on Amazon Web Services to deliver our offerings to users on our platform, and any disruption of or interference with our use of Amazon Web Services could adversely affect our business, financial condition and results of operations.
  • We rely on third-party and affiliate vehicle rental partners for our Express Drive program, as well as third-party vehicle supply, fleet management and finance partners to support our Express Drive program, and if we cannot manage our relationships with such parties and other risks related to our Express Drive program, our business, financial condition and results of operations could be adversely affected.
  • Our Express Drive program and potential future fleet businesses expose us to certain risks, including reductions in the utilization of vehicles in the fleets.
  • We rely on third-party payment processors to process payments made by riders and payments made to drivers on our platform, and if we cannot manage our relationships with such third parties and other payment-related risks, our business, financial condition and results of operations could be adversely affected.
  • We rely on other third-party service providers and if such third parties do not perform adequately or terminate their relationships with us, our costs may increase and our business, financial condition and results of operations could be adversely affected.
  • Our advertising platform, Lyft Ads, is nascent and subject to various risks and uncertainties, which may adversely affect our business and financial results.
  • Use of artificial intelligence and machine learning may present additional risks, including risks associated with algorithm development or use, the data sets used, and/or a complex, developing regulatory environment.
  • If we are not able to successfully develop new offerings on our platform and enhance our existing offerings, our business, financial condition and results of operations could be adversely affected.
  • If we are unable to successfully manage the complexities associated with our multimodal platform, our business, financial condition and results of operations could be adversely affected.
  • Our metrics and estimates, including the key metrics included in this report, are subject to inherent challenges in measurement, and real or perceived inaccuracies in those metrics may harm our reputation and negatively affect our business.
  • Any failure to offer high-quality user support may harm our relationships with users and could adversely affect our reputation, brand, business, financial condition and results of operations.
  • Failure to deal effectively with fraud could harm our business.
  • If we fail to effectively manage our pricing methodologies, our business, financial condition and results of operations could be adversely affected.
  • Our company culture has contributed to our success and if we cannot maintain this culture as we grow, our business could be harmed.
  • We depend on our key personnel and other highly skilled personnel, and if we fail to attract, retain, motivate or integrate our personnel, our business, financial condition and results of operations could be adversely affected.
  • Our business could be adversely impacted by changes in the Internet and mobile device accessibility of users and unfavorable changes in or our failure to comply with existing or future laws governing the Internet and mobile devices.
  • We rely on mobile operating systems and application marketplaces to make our apps available to the drivers and riders on our platform, and if we do not effectively operate with or receive favorable placements within such application marketplaces and maintain high rider reviews, our usage or brand recognition could decline and our business, financial results and results of operations could be adversely affected.
  • We depend on the interoperability of our platform across third-party applications and services that we do not control.
  • Defects, errors or vulnerabilities in our applications, backend systems or other technology systems and those of third-party technology providers, or system failures and resulting interruptions in our availability or the availability of other systems and providers, could harm our reputation and brand and adversely impact our business, financial condition and results of operations.
  • Our platform contains third-party open source software components, and failure to comply with the terms of the underlying open source software licenses could restrict our ability to provide our offerings.
  • Our presence outside the U.S. and our international expansion strategy will subject us to additional costs and risks and our plans may not be successful.
  • We may not realize the anticipated long-term stockholder value of our share repurchase programs, and any failure to repurchase our Class A common stock after we have announced our intention to do so may negatively impact our stock price.
  • Risks Related to General Economic Factors
  • A deterioration of general macroeconomic conditions could materially and adversely affect our business and financial results.
  • Our business could be adversely affected by natural disasters, public health crises, political crises, or other unexpected events.
  • Risks Related to Regulatory and Legal Factors
  • Challenges to contractor classification of drivers that use our platform may have adverse business, financial, tax, legal and other consequences to our business.
  • Claims by others that we infringed their proprietary technology or other intellectual property rights could harm our business.
  • Failure to protect or enforce our intellectual property rights could harm our business, financial condition and results of operations.
  • Changes in laws or regulations relating to privacy, data protection or the protection or transfer of personal data, or any actual or perceived failure by us to comply with such laws and regulations or any other obligations relating to privacy, data protection or the protection or transfer of personal data, could adversely affect our business.
  • We are regularly subject to claims, lawsuits, government and regulatory investigations and other proceedings that may adversely affect our business, financial condition and results of operations.
  • If we fail to maintain an effective system of disclosure controls or internal control over financial reporting, our ability to produce timely and accurate financial statements or comply with applicable regulations could be impaired.
  • Changes in U.S. and foreign tax laws could have a material adverse effect on our business, cash flow, results of operations or financial conditions.
  • Taxing authorities may successfully assert that we should have collected or in the future should collect sales and use, gross receipts, value added or similar taxes and may successfully impose additional obligations on us, and any such assessments or obligations could adversely affect our business, financial condition and results of operations.
  • Operating as a public company requires us to incur substantial costs and requires substantial management attention.
  • Climate-related factors may have a long-term impact on our business.
  • Risks Related to Financing and Transactional Factors
  • We may require additional capital, which may not be available on terms acceptable to us or at all, and which could reduce our ability to compete and could harm our business.
  • If we are unable to make acquisitions and investments, or successfully integrate them into our business, or if we enter into strategic transactions that do not achieve our objectives, our business, results of operations and financial condition could be adversely affected.
  • Servicing our current and future debt may require a significant amount of cash, and we may not have sufficient cash flow from our business to pay our indebtedness. Our payment obligations under such indebtedness may limit the funds available to us, and the terms of our debt agreements may restrict our flexibility in operating our business or otherwise adversely affect our results of operations.
  • Our revolving credit facility contains financial covenants and other restrictions on our actions that may limit our operational flexibility or otherwise adversely affect our results of operations.
  • We are subject to counterparty risk with respect to the capped call transactions.
  • Our ability to use our net operating loss carryforwards and certain other tax attributes may be limited.
  • Risks Related to Governance and Ownership of our Capital Stock
  • The trading price of our Class A common stock may be volatile, and you could lose all or part of your investment.
  • Delaware law and provisions in our amended and restated certificate of incorporation and amended and restated bylaws could make a merger, tender offer or proxy contest difficult, thereby depressing the market price of our Class A common stock.
  • Our amended and restated bylaws designate a state or federal court located within the State of Delaware as the exclusive forum for substantially all disputes between us and our stockholders and also provide that the federal district courts will be the sole and exclusive forum for resolving any complaint asserting a cause of action arising under the Securities Act of 1933 (as amended, the “Securities Act”), each of which could limit our stockholders’ ability to choose the judicial forum for disputes with us or our directors, officers or employees.

Legal proceedings

See discussion under the heading Legal Proceedings in Note 10 to the consolidated financial statements included in Part II, Item 8 of this report.

The opening of Item 3, Legal Proceedings.17

Sources

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