Uber vs Lyft 2025: $8.5B FCF Turnaround vs 7/10 Earnings Quality
LYFT has higher gross margin (42.6%) AND better earnings quality (7/10) than UBER. So why is LYFT barely profitable? The answer: OpEx. LYFT spends 42.2% of revenue on operating expenses vs UBER's 30.6%. Our 5-pass filing intelligence reveals how scale economics beat unit economics in rideshare.