Lyft Draws Big Spenders With Rewards and Partnerships

During the quarter, over 25% of the rideshare company’s rides were linked to a partnership, and there was 26% year-over-year growth in new activations in the firm’s business travel rewards program, Lyft said in a presentation released Tuesday (Feb. 10) in conjunction with an earnings call.

The partnerships with best-in-class companies and the rewards program have also supported Lyft’s efforts to expand the use of its luxury offerings, the company said in prepared remarks for the earnings call.

Lyft’s partnership with DoorDash has delivered steady growth in rides for several quarters and included 3 million linked accounts as of the fourth quarter, according to the presentation.

The rideshare company’s partnership with United Airlines, which was launched in November, gained hundreds of thousands of linked accounts in its first few weeks and allowed riders to earn more than 100 million United MileagePlus points, per the presentation.

Customers who have linked their accounts in the United Airlines partnership include “a significant number” of new and lapsed riders as well as riders who take higher-value modes to “travel in style,” Lyft said in the prepared remarks.

“All our partnerships — Alaska Airlines, Bilt, Chase, DoorDash, Hilton, United Airlines and more — are helping us attract and retain riders. Just as we planned,” the company said.

As for rewards, the 26% year-over-year growth in new activations in the business travel rewards program shows that this offering is resonating with customers, Lyft said in the presentation.

“Notably, rewards are driving adoption of premium ride options, with high-value mode rides growing more than 50% year over year for the second consecutive quarter,” the company said in its prepared remarks. “This early but sustained momentum positions us well as we continue to scale in the corporate segment.”

Lyft expects these trends to continue in 2026, with business travel, partnerships and high-value modes driving growth in gross booking and adjusted EBITDA throughout the year, according to the prepared remarks.

In its presentation, Lyft also highlighted its launch this week of a rideshare program designed for 13- to 17-year-olds in the United States. Dubbed “Lyft Teen,” the program aims to serve a total addressable market of 15 billion rides.

The company said in its prepared remarks that the share of 16-year-olds who had a driver’s license dropped from 46% in the 1980s to 25% in 2021.

“If you have a teen in your house, you know this is a win-win, as rideshare is much more affordable than adding a teenage driver to your insurance, which can raise premiums by [thousands of dollars],” Lyft said. “We did the math, take a Lyft.”