Lyft Q1 revenue up 28% YoY to $1.3B; net loss narrows; raises FY free cash flow guidance

Lyft, Inc.

2024-Q1 EPS reported -$0.08 revenue$1,277,201,000

Gross Bookings $3.7B (+21% YoY); revenue $1.3B (+28% YoY); net loss $31.5M narrowed from $187.6M loss in Q1'23.
Adjusted EBITDA $59.4M (1.6% margin) vs $22.7M in Q1'23; Q2 guidance Adj EBITDA $95-100M (margin ~2.4%).
Rides 188M (+23% YoY), active riders 21.9M (+12% YoY); driver earnings commitment launched in Feb improved perceptions.
FY 2024 free cash flow conversion guidance raised: expects at least 70% of Adjusted EBITDA to convert, up from prior expectation.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Lyft, Inc. reported the quarter ended March 31, 2024 results: revenue $1.3 billion, net income Net loss of $31.5 million. Guidance raised.

Period: the quarter ended March 31, 2024
Revenue: $1.3 billion
Net income: Net loss of $31.5 million
Guidance: raised
Result: reported results

Exact text from the filing

with an improved outlook for our full-year free cash flow.” First Quarter 2024 Financial Highlights: • Gross Bookings of $3.7 billion was up 21% year-over-year. • Revenue of $1.3 billion was up 28% year-over-year. • Net loss of $31.5 million compares with $187.6 million in Q1’23. Net loss includes $87.5 million of stock-based compensation and related payroll tax

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Source: SEC EDGAR

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