$LYFT · Lyft, Inc.
Lyft's Q3 FY2026 10-Q shows revenue of $1.822B, up 8.1% YoY, but a net loss of $(9.7M) versus $46.1M profit a year earlier. Operating margin fell to -1.1% as sales & marketing jumped to $382.0M (from $243.3M) and G&A to $344.7M (from $250.6M). Adjusted EBITDA rose to $203.9M from $138.9M, and Gross Bookings grew to $5.62B from $4.78B.
- Revenue rose 8.1% YoY to $1.822B in Q3 FY2026.
- Net loss of $(9.7M) vs $46.1M profit a year ago; GAAP EPS $(0.03).
- Sales & marketing spend jumped 57% YoY to $382.0M.
- G&A expense rose 38% YoY to $344.7M.
- Adjusted EBITDA grew to $203.9M from $138.9M; Gross Bookings $5.62B.
Extended-hours last trade $16.55, down 7.23% vs the $17.84 regular close, signaling a negative reaction to the swing to a net loss and margin compression.
Lyft's return to a net loss despite record revenue shows its growth is coming at the cost of sharply higher marketing and overhead spend.
Lyft's margin squeeze from aggressive marketing spend contrasts with rival Uber's profitability focus, highlighting competitive pressure in the ride-hailing duopoly.
Rising sales & marketing and G&A costs outpacing revenue growth drove the swing to an operating loss; a $117.9M legal/tax reserve charge also weighed on results.