Lyft’s revenues for the first half of 2018 were $909 billion, a doubling over the same period in 2017, as Inc. reported. Losses of 41% were down year over year from 62%. Like bigger rival Uber, the company has tried to scale revenue faster than losses to move toward profitability, if not yet reaching it.
Cash injections have been a regular need of both Lyft and Uber, running significantly in the red for years. Lyft has raised $4.9 billion in investment since its founding in 2012, according to the site Crunchbase. Uber has raised $24.2 billion since 2009, but has tried a rapid expansion in many countries, rather than focusing on the U.S. and Canada as Lyft has.
Should markets hold they way they have, next year might be a profitable time for Lyft to go public. U.S. tech IPO shares are up a third this year, according to the Journal. And public offerings are at their highest level since 2014.