QUARTERLY REPORT PURSUANT TO SECTION13 OR 15(d) OF THE SECURITIES EXCHANGEACT OF1934 For the quarterly period endedMarch 31, 2025TRANSITION REPORT PURSUANT TO SECTION13 OR 15(d) OF THE SECURITIES EXCHANGEACT OF1934 For the transition period fromtoCommission File Number:001-38846_________________________________________________________________ Lyft, Inc.(Exact name of registrant as specified in its charter) _________________________________________________________________ 20-8809830(I.R.S. EmployerIdentification No.) Delaware (State or other jurisdiction ofincorporation or organization) 185 Berry Street,Suite 400San Francisco,California94107(Address of registrant’s principal executive offices, including zip code) (844)250-2773(Registrant’s telephone number, including area code)_________________________________________________________________ Securities registered pursuant to Section 12(b) of the Act: Title of each class Class A common stock, par value of $0.00001 per share Nasdaq Global Select Market Indicate by check mark whether the registrant: (1)has filed all reports required to be filed by Section13 or 15(d) of the Securities Exchange Act of 1934 duringthe preceding 12months (or for such shorter period that the registrant was required to file such reports), and (2)has been subject to such filing requirements forthe past 90days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule405 ofRegulationS-T (§232.405 of this chapter) during the preceding 12months (or for such shorter period that the registrant was required to submit such files).Yes☒No☐Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definition of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” inRule12b-2 of the Exchange Act. Large accelerated filer☒Accelerated filer☐Non-accelerated filer☐Smaller reporting company☐Emerging growth company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new orrevised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Exchange Act).Yes☐No☒ As of May5, 2025, the number of shares of the registrant’s Class A common stock outstanding was412,105,246and the number of shares of the registrant’sClass B common stock outstanding was8,530,629. Lyft, Inc.Table of Contents PARTI-FINANCIAL INFORMATION Item 1.Condensed Consolidated Financial Statements (unaudited)Condensed Consolidated Balance SheetsCondensed Consolidated Statements of OperationsCondensed Consolidated Statements of Comprehensive Income (Loss)Condensed Consolidated Statements of Stockholders’ EquityCondensed Consolidated Statements of Cash FlowsNotes to Condensed Consolidated Financial StatementsItem 2.Management’s Discussion and Analysis of Financial Condition and Results of OperationsItem 3.Quantitative and Qualitative Disclosures About Market RiskItem 4.Controls and Procedures PART II-OTHER INFORMATION Item 1.Legal Proceedings46Item 1A.Risk Factors46Item 2.Unregistered Sales of Equity Securities and Use of Proceeds87Item 3.Defaults Upon Senior Securities87Item 4.Mine Safety Disclosures87Item 5.Other Information87Item 6.Exhibits88Signatures89 NOTE ABOUT FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q contains forward-looking statements within the meaning of the federal securities laws, whichstatements involve substantial risks and uncertainties. Forward-looking statements generally relate to future events or our future financial oroperating performance. In some cases, you can identify forward-looking statements because they contain words such as “may,” “will,”“should,” “expect,” “plan,” “anticipate,” “could,” “intend,” “target,” “project,” “contemplate,” “believe,” “estimate,” “predict,” “potential” or“continue” or the negative of these words or other similar terms or expressions that concern our expectations, strategy, plans or intentions.Forward-looking statements contained in this Quarterly Report on Form 10-Q include statements about: •our future financial performance, including our expectations regarding our revenue, cost of revenue, operating expenses,capital expenditures, our ability to determine insurance, legal and other reserves and our ability to achieve and maintainprofitability and positive free cash flows;•our restructuring actions, including the costs of such actions and the impact of such actions on our business and financialperformance;•the sufficiency of our cash, cash equivalents and short-term investments to meet our liquidity needs;•the demand for our platform or for Transpo