Lyft leans on partnerships, rewards for 2026 growth

Lyft said that partnerships and rewards were key drivers of its fourth‑quarter performance, with more than 25% of all rides in the period linked to a partner program. The data was disclosed in a presentation and prepared remarks released Feb. 10 alongside an earnings call.

The company highlighted its relationship with DoorDash as a longstanding contributor to ride growth, reporting 3 million linked accounts as of Q4. Lyft described these arrangements as central to attracting and retaining riders as planned.

Across its network, Lyft works with multiple partners, including Alaska Airlines, Bilt, Chase, DoorDash, Hilton and United Airlines. The firm stated that, taken together, these tie‑ups are helping it build a broader, more engaged customer base.

Lyft’s partnership with United Airlines, launched in November, ramped quickly. Within the first few weeks, hundreds of thousands of accounts had been linked, and riders had earned more than 100 million United MileagePlus points, according to the company.

Lyft said that many of the customers linking accounts under the United program were new or previously lapsed riders, as well as users who favor higher‑value ride modes. These customers were described as opting to “travel in style,” supporting Lyft’s premium offerings.

The company indicated that airline, hotel and other loyalty integrations are designed to reinforce loyalty on both sides: riders gain travel rewards, while partners benefit from incremental demand and engagement.

Lyft reported 26% year‑over‑year growth in new activations for its business travel rewards program in Q4, calling it evidence that the offer is resonating with corporate travelers. The firm sees this as a foundation for scaling further in the corporate segment.

Rewards are also shifting rider behavior toward higher‑priced services. Lyft said that high‑value mode rides grew more than 50% year over year for the second consecutive quarter, and attributed that growth in part to its rewards structure.

Management said that this “early but sustained momentum” in premium options and business travel positions the company well as it looks to expand gross bookings and adjusted EBITDA through 2026.

Looking ahead, Lyft expects business travel, partnerships and high‑value modes to be the primary drivers of growth in 2026. In prepared remarks, the company said these areas should support increases in both gross bookings and adjusted EBITDA over the year.

The firm noted that partnership‑linked rides and uptake of premium services have shown consistent gains over multiple quarters, and it expects those trends to continue rather than being one‑off spikes.

In its Q4 presentation, Lyft also highlighted the rollout of “Lyft Teen,” a rideshare program for 13‑ to 17‑year‑olds in the United States, launched during the same week as the earnings call. The service is aimed at what the company estimates to be a 15‑billion‑ride total addressable market.

Lyft framed the product as both a family convenience and a cost‑effective alternative to adding a teen driver to an insurance policy, citing data that the share of 16‑year‑olds with a driver’s license fell from 46% in the 1980s to 25% in 2021. The company said the program is designed to capture rides from households that may otherwise incur higher insurance costs.