$LYFT · Lyft, Inc.
Lyft reported Q3 2026 results: revenue of $1.8B (up 8% YoY), record Gross Bookings of $5.6B (up 17%), record Active Riders of 31.6M (up 10%), and record Rides of 273.5M (up 10%). Net income swung to a $(9.7)M loss from $46.1M profit a year ago, driven by a $117.9M legal, tax, and regulatory reserve impact ($69.1M of which reduced revenue). Adjusted EBITDA rose 47% YoY to $203.9M, and free cash flow was $294.7M.
- Gross Bookings hit a record $5.6B, up 17% YoY.
- Net loss of $(9.7)M vs $46.1M profit in Q3'25, down 121% YoY.
- Adjusted EBITDA rose 47% YoY to $203.9M (3.6% of Gross Bookings).
- Record Active Riders of 31.6M and Rides of 273.5M, both up 10% YoY.
- Free cash flow of $294.7M; trailing twelve-month operating cash flow of $1.2B.
Extended-hours trading shows LYFT at $16.45, down 7.79% vs the $17.84 regular close, signaling investors are reacting negatively to the swing to a net loss despite record operational metrics.
Lyft delivered record operational scale but a surprise swing to a net loss on a large one-time reserve charge, testing whether investors reward growth or punish GAAP profitability.
Lyft's record bookings and rider growth contrast with a GAAP loss driven by one-time legal/tax reserves, while its AV partnerships (Waymo) and Lyft Go membership position it against Uber's hybrid-operator push.
The $117.9M legal, tax, and regulatory reserve impact (including $69.1M reducing revenue) shows exposure to unpredictable litigation and regulatory settlements that can swing GAAP results sharply.