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Uber's main rival for ride-sharing services.

An app-based, modernized taxi service.

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• Ridesharing Service: Connects passengers with local drivers for on-demand private transportation.
• Lyft Rentals: Offers a car rental service allowing users to book vehicles for daily or weekly use directly through the Lyft app.
• Bikeshare and Scooter Sharing Services: Provides access to electric bikes and scooters for short-distance travel in select urban areas.

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Lyft (symbol: LYFT) primarily sells its services to individuals rather than other companies.

The major categories of individual customers that it serves include:

• Ride-hailing Passengers: This is the core customer base, consisting of individuals who use the Lyft app to request rides for personal transportation needs. This covers a wide range of uses, including daily commutes, social outings, errands, medical appointments, and travel to and from airports or other destinations.

• Micro-mobility Users: Individuals who utilize Lyft's bike and scooter rental services for short-distance travel. Lyft operates its own scooter fleets in various cities and manages major bike-share programs such as Citi Bike (New York City), Divvy (Chicago), and Capital Bikeshare (Washington, D.C. metropolitan area).

• Lyft Business Program Participants: While companies enroll in the Lyft Business program, the ultimate end-users are individual employees or clients. These individuals use Lyft for work-related travel, client meetings, corporate events, or company-sponsored commutes, with their employer managing and often subsidizing the expenses.

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• Amazon.com, Inc. (AMZN)
• Alphabet Inc. (GOOGL)
• PayPal Holdings, Inc. (PYPL)
• Adyen N.V. (ADYEN)
• Twilio Inc. (TWLO)
• Zurich Insurance Group (ZURVY)
• Hertz Global Holdings, Inc. (HTZ)
• Avis Budget Group, Inc. (CAR)

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David Risher, Chief Executive Officer and Director

David Risher joined Lyft as CEO in April 2023 and has been a member of its board of directors since July 2021. He co-founded Worldreader, a non-profit organization focused on promoting literacy, and served as its CEO from 2009 to 2023. Before Worldreader, he held the position of Senior Vice President of US Retail at Amazon.com from 1997 to 2002, where he was the company's first head of product and helped scale retail sales from $15 million to $4 billion. Prior to Amazon, he was a General Manager at Microsoft from 1991 to 1997, leading the launch of Microsoft Access and developing some of the company's earliest web properties.

Erin Brewer, Chief Financial Officer

Erin Brewer was appointed Chief Financial Officer of Lyft in July 2023. From May 2020 to October 2022, she served as Managing Director, Enterprise Finance at Charles Schwab & Co., Inc. Previously, she was Head of Strategy and Finance at Atlassian Corporation from September 2018 to April 2020. Ms. Brewer also spent 13 years at McKesson Corporation in various leadership roles, including Executive Vice President and Chief Accounting Officer from 2016 to 2018, and served as a board member for McKesson Ventures.

Kristin Sverchek, President

Kristin Sverchek currently serves as President at Lyft, overseeing business affairs and strategic initiatives. She joined Lyft in 2012 as its first in-house lawyer and served as General Counsel for nearly a decade, during which she built the legal team and guided the company through regulatory matters, including establishing the nation's first rules for transportation network companies. She was promoted to President of Business Affairs in November 2021 and then President in June 2023. Before her tenure at Lyft, Ms. Sverchek was a Partner at Silicon Legal Strategy and an associate at Gunderson Dettmer.

Logan Green, Co-Founder and Chair

Logan Green co-founded Lyft in 2012, which evolved from Zimride, a carpooling company he co-founded in 2007. He served as Lyft's CEO from its inception until April 2023, when he transitioned to the role of Co-Founder and Chair of the board.

John Zimmer, Co-Founder and Vice Chair

John Zimmer co-founded Lyft in 2012, alongside Logan Green, having previously co-founded Zimride in 2007. He served as Lyft's President until June 2023, at which point he transitioned to the role of Co-Founder and Vice Chair of the board. Before co-founding Zimride, he worked as an analyst at Lehman Brothers.

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Lyft (LYFT) faces several significant risks to its business, with the most impactful revolving around driver-related challenges, intense competition, and the long-term threat of autonomous vehicle technology.

1. Driver Retention, Compensation, and Classification

Lyft's business model is heavily reliant on a stable and satisfied driver base, which is consistently challenged by high attrition rates and dissatisfaction with earnings. Driver retention remains precarious due to earnings instability, rising insurance costs (up 24% in 2023), and increasing vehicle maintenance expenses (a 36% surge since 2019) that erode profits. The company's reliance on an unstable driver pool is often described as its "Achilles' heel," with a staggering 68% attrition rate within six months. Furthermore, the ongoing legal and regulatory battles concerning the classification of drivers as independent contractors versus employees pose a significant threat. A change to employee status would substantially increase operating costs through mandated minimum wages, overtime pay, benefits like sick leave, and unemployment insurance, potentially forcing fare hikes or market withdrawals. Driver safety is also a concern, with two-thirds of drivers reporting harassment in 2022, which can negatively impact recruitment and retention.

2. Intense Competition and Pricing Pressure

Lyft operates in a fiercely competitive ride-hailing market, primarily against Uber, which holds a dominant 70% market share in the US compared to Lyft's approximately 30%. This intense rivalry leads to continuous price competition and battles over driver incentives, directly impacting Lyft's revenue per ride and limiting its ability to implement significant price increases. Uber's larger scale and diversified business, including food delivery, provide it with a structural advantage and greater flexibility to withstand pricing or regulatory shocks, indirectly affecting Lyft's market position. Maintaining competitive resilience requires Lyft to keep riders engaged and drivers satisfied without reigniting costly incentive battles or promotional spending.

3. Autonomous Vehicle Technology

The eventual widespread adoption of autonomous vehicle technology presents an "existential threat" to Lyft's current driver-dependent business model. Competitors are already making significant moves in this area, such as Uber's 2024 alliance with Waymo, which directly challenges the traditional ride-hailing model. While autonomous vehicles offer long-term potential, the technology is expensive and complex to develop and operate within a ride-hailing context, requiring substantial investment in research and partnerships. The transition to an autonomous fleet would require immense capital expenditure, posing a long-term risk to Lyft's financial stability and operational structure.

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The commercialization and expansion of fully autonomous vehicle (AV) ride-sharing networks by competitors.

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Lyft (LYFT) primarily addresses the ridesharing and micromobility markets in the United States and Canada, with some expansion into Europe through partnerships.

Ridesharing

The global ridesharing market was valued at approximately $158.9 billion in 2023, with projections to reach over $210 billion by 2029. In the United States, the ridesharing market size was estimated at $28.5 billion in 2024 and is expected to grow at a compound annual growth rate (CAGR) of 6.9% between 2025 and 2034. The U.S. ridesharing industry revenue is anticipated to reach $21.0 billion in 2025. Lyft's acquisition of Free Now, a European multi-mobility platform, has reportedly doubled its total addressable market by expanding its global presence.

Bikes and Scooters (Micromobility)

Lyft operates shared bike and scooter systems across the United States and in 57 cities spanning 16 countries globally. In 2024, nearly 1.9 million new riders utilized Lyft's shared bike and scooter services. Ebikes, a significant part of their micromobility offerings, saw a 47% year-over-year growth in ridership from 2023 to 2024 across Lyft Urban Solutions' global programs.

Other Services

Lyft also offers services such as Lyft Business (corporate transportation), Healthcare Transportation (non-emergency medical transport), and limited delivery options in select markets. While these services contribute to Lyft's overall business, specific addressable market sizes for these individual segments for Lyft were not readily available in the provided information.

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Lyft (LYFT) is poised for future revenue growth over the next two to three years, driven by several strategic initiatives and market dynamics:

1. Consistent Growth in Active Riders and Ride Volume: Lyft has demonstrated robust organic growth, consistently achieving all-time highs in both active riders and the total number of rides. In Q3 2025, active riders grew 18% year-over-year to 28.7 million, and rides increased 15% year-over-year to 248.8 million. This expansion of its core rideshare business, driven by strong demand and marketplace health, is expected to continue contributing significantly to gross bookings and revenue.
2. Strategic Geographic Expansion and Partnerships: Lyft is expanding its reach through key acquisitions and collaborations. The acquisition of FreeNow, a European ride-hailing app, is anticipated to add over 6 million annual riders to Lyft's platform by 2026 and generate €1 billion in top-line revenue. Additionally, partnerships like the one with United Airlines, which allows riders to earn MileagePlus miles, and collaborations with autonomous vehicle companies such as Waymo and Tensor, are expected to broaden Lyft's service offerings and market presence. The company is also focusing on growth in underpenetrated U.S. markets.
3. Product Innovation and Enhanced Platform Experience: Lyft's continuous introduction of new features and improvements for both riders and drivers aims to boost engagement and retention. The "Price Lock" feature has seen strong adoption, stimulating demand by offering transparent and predictable pricing. Improvements in driver experience, including increased earnings for longer rides and enhanced pay transparency, have led to improved driver preference and record driver hours, ensuring a robust supply to meet rider demand. The expansion of high-margin offerings, such as Lyft Black and Lyft SUV, also contributes to revenue growth.
4. Favorable Regulatory Environment and Cost Efficiencies: Changes in regulatory landscapes can positively impact demand. For instance, the modernization of insurance regulations in California is expected to reduce insurance costs, allowing Lyft to pass savings to riders through price reductions. This, in turn, is projected to stimulate demand, create more earning opportunities for drivers, and drive overall growth for the company.

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Share Repurchases

• In February 2025, Lyft initiated its first share repurchase program, authorizing the buyback of up to $500 million of Class A common stock.
• This program was expanded in May 2025 by an additional $250 million, bringing the total authorization to $750 million. Lyft plans to utilize $500 million of this authorization within the subsequent 12 months.
• During Q2 2025, Lyft repurchased 12.8 million shares for $200 million as part of this ongoing program.

Share Issuance

• Around May 2021, Lyft shifted its employee equity compensation from a four-year vesting schedule to single-year vesting plans, with new equity grants issued annually and vesting quarterly.
• In September 2025, Lyft announced the pricing of $450 million in Convertible Senior Notes due 2030 through a private offering.

Outbound Investments

• Lyft completed the acquisition of FREENOW, an app-based ride-hailing and multi-category vehicle sharing platform, in April 2025 for $199 million. This acquisition significantly expanded Lyft's operations into 180 cities across nine European countries.
• In May 2022, Lyft acquired PBSC.
• Lyft has made a total of 4 investments in other companies, with the most recent notable investment being a Series B round in Polywork on September 15, 2022.

Capital Expenditures

• Lyft's reported capital expenditures were $37 million in 2021, -$15 million in 2022, $57 million in 2023, and -$8.58 million in 2024. For the quarter ending June 30, 2025, capital expenditures amounted to -$55.4 million.
• The forecast for Lyft's capital expenditures in the next fiscal year is $78.411 million.
• A primary focus of capital expenditures includes managing and maintaining its Flexdrive subsidiary, which owns cars across multiple U.S. cities for drivers.