Lyft (LYFT) FY2024 results: revenue $5.8 billion, up 31.4% on the year

Lyft, Inc. (LYFT) reported revenue of $5.8 billion for fiscal 2024, the year ended 31 December 2024, up 31.4% on the year before. Net income was $23 million, and diluted earnings per share $0.06. The figures are the company's own, from the 10-K it filed with the SEC on 14 February 2025.

Revenue

$5.8 billion

+31.4% on the year

FY2017FY2024

Operating margin

-2.1%

-10.8% a year earlier

FY2017FY2024

Net income

$23 million

FY2017FY2024

Diluted EPS

$0.06

FY2017FY2024

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2024 · Q2 FY2024 · Q3 FY2024 · Q4 FY2024

Income statement (profit and loss)

$ million	FY2024	FY2023	FY2022	On the year
Revenue	5,786	4,404	4,095	+31.4%
Cost of revenue	3,338	2,544	2,436	+31.2%
Gross profit	2,448	1,860	1,659	+31.7%
Gross margin	42.3%	42.2%	40.5%
Research and development	397	556	857	-28.6%
Operating income	-119	-476	-1,459
Operating margin	-2.1%	-10.8%	-35.6%
Interest expense	28.9	26.2	19.7	+10.3%
Pre-tax income	25.4	-332	-1,579
Income tax	2.6	8.6	5.9	-70.2%
Effective tax rate	10.1%	n/a	n/a
Net income	22.8	-340	-1,585
Net margin	0.4%	-7.7%	-38.7%
Diluted EPS	$0.06	-$0.88	-$4.47

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	FY2024	FY2023	FY2022	On the year
Operating cash flow	850	-98.2	-237
Cash from investing	-518	600	186
Cash from financing	-156	-122	-87.5
Depreciation and amortisation	149	117	155	+27.8%
Share-based compensation	331	485	751	-31.7%
Buybacks	50.0	0.0	0.0
Diluted shares, weighted	414m	385m	355m	+7.3%

Balance sheet

$ million	FY2024	FY2023	FY2022	On the year
Shareholders' equity	767	542	389	+41.6%
Debt	995	865	839	+15.0%
Operating lease liabilities	152	134	176	+13.4%
Finance lease liabilities	54.4	61.3	19.9	-11.4%
Other liabilities	3,467	2,962	3,132	+17.0%
Total liabilities and equity	5,435	4,564	4,556	+19.1%
Goodwill	251	258	262	-2.5%
Intangible assets	42.8	59.5	76.2	-28.1%
Investments	1,225	1,127	1,516	+8.8%
Cash and equivalents	759	559	281	+35.9%
Other assets	3,156	2,562	2,422	+23.2%
Total assets	5,435	4,564	4,556	+19.1%

10-K for the year ended 31 December 2024, filed 14 February 2025: the filing.