Lyft Inc (Lyft) is a provider of transportation services. The company offers ridesharing, bikes and scooters’ rental, and transportation options through Lyft platform and mobile-based applications. For the quarter ended December 2023, the company had 22.4 million Active Riders. The company classifies its operations into three categories: Ridesharing Marketplace, Light Vehicles and Express Drive. In FY2023, the company reported revenue of US$4,116.2 million, having share of 93.5% in company revenue followed by rental revenue of US$ 287.3 million, having share of 6.5% in total revenue. The company ridesharing marketplace connects drivers with riders. Lyft is able to predict demand and proactively incentivize drivers to be available for rides in the right place at the right time. The company is able to optimize earning opportunities for drivers and offer convenient rides for riders. Lyft ridesharing marketplace connects drivers with riders in varied cities in the United States and in specific cities in Canada. Lyft offers car rental program for drivers, comprising those who want to drive using the company platform but not have access to a vehicle that meets our requirements. The company through its Express Drive program, enable drivers to enter into rental agreements with its independently managed subsidiary, Flexdrive, and its rental car partners for vehicles that may be used to provide ridesharing services on the Lyft Platform.

The company R&D arm focuses on autonomous vehicle technology and initiatives. In FY2023, the company spent US$559.6 million on R&D, which as a percentage of revenue, stood at 12.7%.