"We helped 44 million people across the U.S. and Canada get off their tuchuses," said Lyft ( LYFT ) CEO David Risher.Lyft Inc ( LYFT ) reported fourth-quarter financial results after the market close on Tuesday. Here’s a rundown of the report.

Q4 Earnings: Lyft ( LYFT ) reported fourth-quarter revenue of $1.6 billion, beating analyst estimates of $1.56 billion, according to Benzinga Pro. The company reported fourth-quarter net income of $61.7 million, versus a loss of $26.3 million in the prior year’s quarter. Adjusted EBITDA totaled $112.8 million in the quarter.

Total revenue was up 27% on a year-over-year basis. Gross bookings totaled $4.3 billion in the quarter, up 15% year-over-year. Active riders totaled 24.7 million in the fourth quarter, up 10% year-over-year. Total rides came in above 219 million, up 15% year-over-year.

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Lyft’s board authorized a share repurchase program of up to $500 million of the company’s common stock. The company ended the quarter with $759.32 million in cash and cash equivalents.

“2024 was a record-smashing year for Lyft ( LYFT ). Thanks to our industry-leading service levels, we helped 44 million people across the U.S. and Canada get off their tuchuses,” said David Risher, CEO of Lyft ( LYFT ).

“But we’ve got more to do. Our biggest competition is inertia. 2025 will be the year we show millions of riders and drivers: You’ve now got a better rideshare choice.”

Outlook: Lyft ( LYFT ) expects first-quarter gross bookings of approximately $4.05 billion to $4.2 billion, representing growth of 10% to 14% year-over-year. The company sees first-quarter rides growth in the mid-teens year-over-year.

Lyft ( LYFT ) executives will further discuss the company’s quarterly performance on a conference call set for 5 p.m. ET.

Price Action: Lyft ( LYFT ) shares were down 9.31% after hours, trading at $13.01 at the time of publication Tuesday, per Benzinga Pro.

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