Lyft released its second-quarter financial results, which ended June 30, in which it noted that "Q2 Adjusted EBITDA outperformance reflects the swift and decisive actions" they "took during the quarter to drive additional growth and profits."

The company reported Q2 revenue of $990.7 million versus $765.0 million in the second quarter of the year prior, reflecting a 30% growth year-over-year. Compared to $875.6 million in the first quarter, it is an increase of 13% quarter-over-quarter.

“We leaned in hard in Q2 and the team did fantastic work to drive strong results,” Logan Green, co-founder and CEO of Lyft, said in a press release. “We generated the highest Adjusted EBITDA in our company’s history and saw COVID highs for Active Riders, drivers and rides. It’s clear consumer transportation is a good long-term business with a massive addressable market.”

Lyft reported a net loss of $377.2 million for Q2 2022 compared to a net loss of $251.9 million in the same period of 2021 and a net loss of $196.9 million in the first quarter of 2022. The net loss margin for this year's second quarter was 38.1% compared to 32.9% in the second quarter of 2021 and 22.5% in the first quarter of 2022.

Lyft also announced contribution covering the period of Q2 2022 totals $590.5 million, up 31% from the $452.0 million in the second quarter of 2021, and up 18% quarter-over-quarter from $502.5 million in the first quarter of 2022. The contribution margin for the second quarter of 2022 was 59.6%, above the company's forecast of 56.0%

Adjusted EBITDA for the 2022 second quarter was $79.1 million, "an improvement of $55.3 million compared to the second quarter of 2021 and an improvement of $24.3 million compared to the first quarter of 2022," according to the release.