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| Revenue | 3. Revenue Revenue Recognition The Company generates its revenue from its multimodal transportation networks that offer access to a variety of transportation options through the Lyft Platform and mobile-based applications. Substantially all, or approximately 85% or more, of the Company’s revenue is generated from its ridesharing marketplace that connects drivers and riders and is recognized in accordance with Accounting Standards Codification Topic 606 (“ASC 606”). In addition, the Company generates revenue from licensing and data access, subscription fees, bikes and bike station hardware and software sales and arrangements to provide advertising services to third parties. The Company also generates rental revenue from Flexdrive and its network of Light Vehicles, which is recognized in accordance with Accounting Standards Codification Topic 842 (“ASC 842”). Incentive Programs The Company offers incentives to attract drivers, riders and Light Vehicle riders to use the Lyft Platform. Drivers generally receive cash incentives while riders and Light Vehicle riders generally receive free or discounted rides under such incentive programs. Incentives provided to drivers and Light Vehicle riders, the customers of the Company, are accounted for as a reduction of the transaction price. As the riders are not the Company’s customers, incentives provided to riders are generally recognized as sales and marketing expense. For the three months ended March 31, 2025, in relation to the driver, rider and Light Vehicle rider incentive programs, the Company recorded $202.6 million as a reduction to revenue and $93.4 million as sales and marketing expense. For the three months ended March 31, 2024, in relation to the driver, rider and Light Vehicle riders incentive programs, the Company recorded $225.1 million as a reduction to revenue and $68.0 million as sales and marketing expense. Disaggregation of Revenue The table below presents the Company's revenues as included on the condensed consolidated statements of operations (in thousands):
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