The U.S. rival has seen its revenue growth more than triple, according to a report from The Information.
The media outlet viewed financial reports, which showed Lyft brought in $483 million in revenue in the first half of 2017, compared to about $150 million in the same timeframe last year.
The company also greatly improved its margins, showing that losses narrowed from $283 million to $206 million.
Lyft was losing about $4 per ride last year and now it’s losing $1.20.
Uber, on the other hand, has seen losses accelerating.
Company documents show that it lost almost $1.5 billion in its most recent quarter, up from $1.06 billion in the previous period.