Lyft Sets Q3 Records as Rider and Ride Growth Slows to 10%

Lyft's third-quarter results showed record levels for active riders, rides and gross bookings, while year-over-year gains in rider and ride counts slowed and fell short of expectations.

Gross bookings increased 17% from a year earlier, compared with 23% growth in Q2. Active riders and rides each rose 10%; both growth rates eased from the prior quarter, and both measures missed expectations.

Adjusted EBITDA reached $203.9 million, a 47% increase from a year earlier, and exceeded estimates. Its margin also topped expectations. Cash generation over the trailing 12 months remained above $1 billion for a fifth consecutive quarter.

Lyft recorded a net loss of $9.7 million. A $117.9 million charge and higher marketing and administrative expenses also weighed on the quarter's result.

For 2026, Lyft expects total rides to exceed one billion.