In the past, short-distance transportation was limited to having a car or taking public transportation. Today, as you would see from our Lyft statistics, this San Francisco-based transportation company makes it all easier.
It’s simple: all you have to do is grab your smartphone, order a lift, and start the ride if you like the estimated price and driver’s ratings.
Launched in 2012, Lyft now ranks among the top transportation network companies. In this article, we will take a look at some of the interesting facts and stats regarding the company’s revenue, market share, and rides.
Quick 2024 Lyft Statistics (Editor’s Choice)
- Almost 30% of users used Lyft to access healthcare services in 2019
- More than four in ten Lyft rides start or end in low-income areas
- Lyft drivers make on average more than $34,400 per year
- In the last quarter of 2021, Lyft had 18.73 million active riders
- There was a 13% revenue increase between the second and third quarter of 2021
- Lyft’s net worth is around $14.93 billion
- In the third quarter of 2021, Lyft’s total assets were $4.82 billion
- Uber has almost 2 million drivers more than Lyft
Lyft Usage Statistics
1. Lyft is available in 644 cities in the United States and 12 Canadian cities.
(Analytics Vidhya)
Nowadays, Lyft is a huge company operating in almost 650 cities across the US and 12 cities in Canada. Even though it is nowhere near its main competitor — Uber, Lyft is a fast-growing and top-rated company with astonishing growth year by year.
So, how many countries does Lyft operate in? Unfortunately, it does not operate anywhere outside the US and Canada.
2. In the first quarter of 2019, Lyft recorded over 4.5 million app installs.
(Sensor Tower)
In fact, in that quarter, there were 4.7 million app installs. Still, that was a decrease from the same quarter of the year before, when there were 5 million installs.
The app is specially designed to provide quick and easy access to Lyft rides, and it is regarded as the best tool when trying to get a ride from the Lyft company.
3. Lyft user statistics note that in 2019, 29% of users used Lyft to access healthcare services.
(Beckers Hospital Review)
That was the result of Lyft’s 2019 economic impact report, and it was no surprise given that Lyft had partnered up with ten nonemergency medical transportation firms and nine health systems to enable rides to medical appointments to patients.
4. 90% of Lyft rides are rated 5-star by passengers.
(The Ad Focus)
Making a good impression is a great way to deploy any business. Lyft has adopted this idea and has ensured passengers get the best services possible. For this particular reason, about nine in ten of the customers awarded Lyft a 5-star rating.
Lyft Driver and User Statistics
5. Over 40% of Lyft rides start or end in low-income areas.
(The Philadelphia Inquirer, Lyft)
More specifically, more Lyft rides are starting or ending in low-income places in Philadelphia than other places in the United States.
In fact, the percentage of these rides is 60%, higher than its top US markets (New York City, Atlanta, Washington, Chicago, Boston, Los Angeles, San Francisco, and Miami), and definitely higher than the national percentage — 40%.
6. The Lyft number of drivers in the US and Canada is two million.
(CNET)
Lyft ensures that efficiency and speed are highly exhibited whenever it comes to its services. In fact, the company goes a long way in providing this by having around two million drivers — this aids in reducing waiting times.
7. Drivers of the Lyft company make on average $34,442 per year, as per stats on Lyft demographics.
(Student Debt Relief)
It’s a common tendency of employment sites to collect salary information based on data given by employees. So, Glassdoor.com gathered info from 106 salaries and reported that Lyft drivers earn almost $34,500 annually.
8. Lyft had 18.73 million active riders in the Q4 of 2021.
(WSJ, CNBC, GoodWaterCap)
In fact, the number of active riders indicated an increase from 12.5 million in 2020. However, by the end of 2019, the number was somewhat higher — 22.9 million active riders.
In order to stand out in a price-competitive market, Lyft created a trustworthy, values-driven brand. Lyft target market is a community of young and socially conscious consumers.
9. Lyft offers insurance of up to $1 million to its drivers.
(Lyft)
Lyft drivers get the chance to experience insurance at a whole new level. Lyft has them covered with the $1 million insurance.
Moreover, regarding accidents, Lyft provides contingent comprehensive and collision up to the actual car cash value, as well as uninsured/underinsured motorist bodily injury.
Lyft Revenue and Market Share Statistics
10. Lyft revenue was $864.4 million in the third quarter of 2021.
(Investor)
Compared to the same quarter of the year before, it had increased by 73%. Namely, in the third quarter of 2020, Lyft’s revenue was $499.7 million. Moreover, in the second quarter of 2021, its revenue was $765 million.
11. In the third quarter of 2021, Lyft revenue increased by 13% compared to the previous quarter.
(Reuters)
However, total expenses and costs rose only 4% from the second quarter of 2021. Moreover, Lyft annual report also confirms that Lyft’s contribution margin (the company’s profitability without variable costs) increased to a record 59.4%.
12. Lyft’s net worth as of 2022 stands around $14.93 billion.
(Macro Trends)
Despite the losses, the ride-sharing company and its value only go up. The trend is expected to continue in the following years. Since March 2019, Lyft’s net worth was the highest in March of 2021, reaching $21.71 billion.
13. Lyft’s net loss in the third quarter of 2021 was $71.5 million.
(Investor)
However, that was significantly less than the same period of 2020. Stats on Lyft annual revenue 2020 show that it was $459.5 million in the third quarter of 2020. Moreover, in the second quarter of 2021, net loss totaled $251.9 million.
For the third quarter of last year, net loss included over $200 million of stock-based compensation and related petrol tax expenses.
14. In the fourth quarter of 2021, Lyft reported all-time high revenue per active rider.
(ZDNet)
More specifically, the revenue per active rider reached $51.79, translating to a 14% increase year over year.
Moreover, in the same quarter, there were 18.7 million active riders. In comparison, there were probably more Lyft rides per day in the previous quarter, as there were 18.9 million active riders.
15. Lyft’s total assets in the third quarter of 2021 were $4.82 billion.
(Macro Trends)
That represented a decrease of approximately 2.9% year over year. Furthermore, in 2020, total assets amounted to $4.67 billion, representing a 17.8% reduction from 2019, when they reached $5.7 billion.
16. In July 2021, the Lyft market share in the US was 31%.
(Statista)
Today, Lyft is widely used by a lot of people from the United States. According to reports, Lyft accounts for over 30% of the country’s market share. That’s a slight increase from the end of 2019 when it was 29%.
17. By the end of 2023, Lyft’s share of transportation-sharing users will be 59%.
(eMarketer)
According to some estimations, Lyft will claim a higher market share in the forthcoming years. Even though the company is one of the first ones to market in the ride-sharing industry, it’s still behind Uber in these terms.
Uber vs. Lyft Statistics
18. Uber’s revenue in the third quarter of 2021 was 5.5 times higher than Lyft’s.
(Investor)
Namely, Uber’s revenue was $4.8 billion in the third quarter of last year, while, as we’ve mentioned, Lyft’s was only $864.4 million. Even though Lyft’s revenue showed an increase of 73% compared to the year before, it was still far behind Uber’s.
19. When comparing Uber vs. Lyft market share, we can see that Uber had a four-time higher global market share in 2019.
(Statista)
That year, Uber’s worldwide market share was 37.2%, so Uber was the leading ride-hailing operator.
In comparison, Lyft’s global market share was only 9.26% that year. It was, in fact, the third-leading ride-hailing operator. The second one was DiDi, with a market share of 32.4%.
20. Uber has about 1.9 million more drivers than Lyft.
(CNET)
For instance, Uber has 3.9 million drivers in 63 countries, and coverage-wise, it’s larger than Lyft. Lyft operates only in the United States and Canada. So, how many drivers does Lyft have? Namely, it has around two million drivers, but none of them are outside of North America.
21. A survey on Uber-only vs. Lyft-only drivers’ job satisfaction showed Lyft drivers had a happier experience (52%).
(CNET)
A 2019 survey showed that over 50% of Lyft-only drivers were satisfied with their driving experience for the company. At the same time, the percentage of Uber-only drivers who were happy with their experience was somewhat lower — 48%.
So, Lyft number of drivers who were satisfied with their job was higher than Uber.
Conclusion
Lyft has been around since 2012. Looking at its progress from that period, it is clear that the transportation network company is rapidly growing.
Based on the above-outlined stats and facts, it is safe to conclude that Lyft is one of the fastest-growing companies in the world. As a matter of fact, it is known to be the second-largest transportation network company in the United States.
As a result of the unique innovations and technologies the company uses to make every ride outstanding, taking a lift with one of its vehicles may just prove to be the best way to efficiently and quickly transport oneself.
People Also Ask
All in all, Uber is more popular than Lyft. As a matter of fact, a driver driving for both companies also confirmed that in an interview.
According to him, more people prefer Uber over Lift. Moreover, for every 3–4 Uber rides, people ask for one Lyft ride. He gives several reasons why Uber is more popular than Lyft, including the fact that Uber takes safety more seriously than Lyft.
Lyft reported the number of active users in 2021 — 18.73 million. That was an increase from 2020 when the number was somewhere around 12.5 million. The 2020 number indicated a 45% decline from the year before when it was approximately 22 million.
The decline in people using Lyft was primarily due to the COVID-19 outbreak, which led to a decrease in the use of ride-hailing operators since more people stayed home.
Over the years, Lyft has been serving citizens of the United States and Canada. Even though there’s no exact data, research and case studies have been able to estimate the number of Lyft daily rides. That number is somewhere around one million.
These rides have made massive impacts on local communities since Lyft has partnered with influential organizations, enabling free rides for under-resourced communities to get food, essential jobs, and services.
Since the Lyft company operates in hundreds of cities, it is no surprise that it has millions of active riders. In the third quarter of last year, there were around 18.73 million active riders.
In addition, that indicated an increase of 6.23 million from 2020, when the number of active users was 12.5 million.
However, Lyft statistics verify that the 2019 numbers were relatively higher. Namely, there were 22.9 million active riders then.
