Lyft sets 2027 targets: 15% gross bookings CAGR, 4% adjusted EBITDA margin, >90% FCF conversion; reaffirms 2024 outlook

Lyft, Inc.

2027 Gross Bookings CAGR target of ~15% from FY2024 to FY2027.
2027 Adjusted EBITDA margin target of ~4% of Gross Bookings.
Free cash flow conversion target of >90% of Adjusted EBITDA annually 2025-2027.
Reaffirmed Q2 2024 outlook and FY2024 directional commentary (unchanged from May 7, 2024 earnings).
First Investor Day; CEO David Risher and CFO Erin Brewer presented on strategy for profitable growth.

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