Founded in 2012, Lyft has grown to be the second largest transportation network company in the United States. The ridesharing service continues to attract a growing number of customers. This article will review Lyft revenue figures and other Lyft statistics that define the company's growth. We'll also talk about the best car insurance for Lyft drivers.
Lyft Revenue Statistics
Lyft revenue has been steadily growing. Recent Lyft revenue statistics show the ride-hailing platform experiencing a 36% year-over-year increase in revenue from $2.4 billion in 2020 to $3.2 billion in 2021.
Competitor Example of Quarterly Revenue - instead we can do YoY
Its second-quarter results for 2022 also were strong, with $990.7 million in revenue. That's a 30% rise from $765 million for the same period in 2021 and a 13% boost from $875.6 million in the first quarter of this year.
Despite the rise in revenue, Lyft statistics showed the company had a net loss of $1.0 billion in 2021 compared to 2020's net loss of $1.8 billion. Its 2022 second-quarter net loss grew to $377.2 million versus net losses of $251.9 million in the same period of 2021 and $196.9 million for the first quarter of this year.
The company saw an 11% rise in its revenue per active rider from $44.63 in the second quarter of 2021 to $49.89 in the second quarter of this year. The figure represented a slight increase from $49.18 in the first quarter of 2022.
Lyft Usage Statistics
In other Lyft usage statistics, the ride-hailing platform has experienced an increase in the number of Lyft users.
Lyft reported 19.9 million active users for the second quarter of 2022, up from 17.8 million in the first quarter of this year and 17.1 million users in the second quarter of 2021.
Lyft Annual Users
Chart with year/users
In another measurement of Lyft customers, the Lyft app is downloaded around 2 million times each month.
If you look at the demographics of Lyft customers, you'll find the following breakdown:
- 53% white
- 22% African American
- 18% Hispanic
- 7% Asian
Around 16% of Lyft users are students, and 15% are members of the LGBT+ community. The average annual household income of Lyft riders is $54,000.
Get Car Insurance for Lyft Drivers From Buckle
According to Lyft, there were no reported safety incidents for over 99% of its rides from 2017 to 2019. Despite that impressive safety record, car insurance for Lyft drivers is still necessary.
Lyft drivers can rely on Buckle's Lyft driver insurance for reasonable rates, low deductibles and unparalleled customer service. Request a quote today and see how you can benefit from Buckle's car insurance for Lyft drivers.
Lyft Driver Statistics
The number of Lyft drivers is over 2 million, and they have an average earnings of $34,305. There are a total of 4,369 Lyft jobs across the entire company.
In other Lyft driver statistics, 72% of Lyft drivers are male, 21% are female and 7% preferred not to disclose their gender identity.
Demographically, Lyft drivers break down as follows:
- 31% white
- 29% Hispanic
- 22% African American
- 13% Asain
Interestingly, 42% of Lyft drivers have a high school diploma, 40% have bachelor's degrees and 15% have master's degrees. Around 15% of Lyft drivers are business owners, and 12% are students.
Quick Lyft Facts
What Is Lyft's Annual Revenue?
Lyft's annual revenue was $3.2 billion in 2021.
How Many Drivers Does Lyft Have?
Lyft has over 2 million drivers.
How Many Users Does Lyft Have?
Lyft has 19.9 million active users.
How Many Cities Is Lyft In?
Lyft is in 656 cities in the U.S. and Canada.
What Is Lyft's Market Share?
Lyft has 31% of the rideshare market.
Trust Buckle's Car Insurance for Lyft Drivers
We know that Lyft drivers work hard, and we want to reward you with the best car insurance for Lyft drivers. At Buckle, we believe your car insurance premiums should be based on factors like your driving record, not your credit score. That's why we never run a credit check as part of our application process. We offer reasonable rates on the coverage you need with deductibles as low as $500. Apply for a quote today and see the difference that Buckle insurance can make.