Lyft Inc Stock Price, News & Analysis

Lyft reported strong financial results for Q4 and full-year 2024, achieving its first full year of GAAP profitability. Q4 highlights include Gross Bookings of $4.3 billion (+15% YoY), revenue of $1.6 billion (+27% YoY), and net income of $61.7 million.

For full-year 2024, the company reported record performance with Gross Bookings of $16.1 billion (+17% YoY), revenue of $5.8 billion (+31% YoY), and net income of $22.8 million compared to a loss of $340.3 million in 2023. The company achieved all-time highs in rides (828 million, +17% YoY) and active riders (44 million).

Lyft announced an inaugural share repurchase program of $500 million and provided Q1 2025 guidance expecting rides growth in mid-teens and Gross Bookings growth of 10-14% YoY.

Lyft has announced it will release its fourth quarter and full-year 2024 financial results after market close on Tuesday, February 11, 2025. The company will host a conference call at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) on the same day to discuss the financial results and business highlights.

The live audio webcast will be available on Lyft's Investor Relations page, with an archived version accessible shortly after the call. The company communicates material information through various channels, including SEC filings, press releases, conference calls, webcasts, social media platforms, and company blogs to ensure broad public distribution in compliance with Regulation FD.

Lyft has announced that Chief Financial Officer Erin Brewer will participate in a fireside chat at the Barclays Annual Global Technology Conference. The event is scheduled for Wednesday, December 11, 2024, at 11:35 a.m. Pacific Time in San Francisco, CA.

Investors and interested parties can access a live webcast of the discussion through the investor relations section of Lyft's website at investor.Lyft.com.

Lyft (Nasdaq: LYFT) announced that its Chief Financial Officer, Erin Brewer, will participate in a fireside chat at the RBC Capital Markets Global Technology, Internet, Media and Telecommunications (TIMT) Conference on Tuesday, November 19, 2024, in New York, NY, at 2:40 p.m. Eastern Time. A live webcast of the event will be available on the investor relations section of the Lyft website at http://investor.Lyft.com.

Lyft reported strong Q3 2024 results with record-breaking performance. Gross Bookings reached $4.1 billion, up 16% year-over-year, while revenue grew 32% to $1.5 billion. The company achieved record Active Riders of 24.4 million (up 9%) and Rides of 217 million (up 16%). Despite a net loss of $12.4 million, Lyft generated Adjusted EBITDA of $107.3 million and free cash flow of $242.8 million. The company announced partnerships with Mobileye, May Mobility, and Nexar for autonomous vehicles, plus a strategic alliance with DoorDash. Lyft raised its FY'24 outlook, expecting mid-teens rides growth and approximately 17% Gross Bookings growth.

Nexar and Lyft (NASDAQ: LYFT) announced a partnership to advance autonomous vehicle (AV) technology development. The collaboration combines Nexar's extensive video telematics data—comprising over 45 petabytes of real-world footage, 200 million miles driven monthly, 5 trillion images, and 59 million videos—with Lyft's anonymized marketplace data. The partnership aims to create comprehensive datasets for AV training and development, focusing on rideshare-specific applications to enhance the commercialization of autonomous vehicles at scale.

Lyft announced multiple autonomous vehicle (AV) partnerships to expand its transportation network. The company will collaborate with Mobileye to make its rideshare platform available to vehicles equipped with Mobileye's self-driving technology. Additionally, May Mobility will deploy autonomous Toyota Sienna minivans in Atlanta starting in 2025. Lyft is also partnering with Nexar to utilize aggregated marketplace and fleet data for improving autonomous technology development. The platform, serving 40 million annual riders in North America, will offer a 'Lyft-ready' model for partners to seamlessly deploy AVs and maximize vehicle utilization.

Lyft and Mobileye have announced a strategic alliance to accelerate autonomous vehicle (AV) commercialization. The partnership will combine Lyft's network of 40 million annual riders with Mobileye's AV technology to create a seamless demand platform for Mobileye Drive™-based AV fleets.

Future AV operators will be able to purchase 'Lyft-ready' vehicles equipped with Mobileye Drive technology and access Lyft's rider demand to optimize fleet utilization. The collaboration will leverage Mobileye's cloud-based AV demand technology and Lyft's AV Partner APIs to monetize AV fleets, aiming to provide faster and broader AV availability to users.

DoorDash and Lyft have announced a partnership to offer exclusive benefits to DashPass members and Lyft riders, starting October 30. DashPass members will receive 5% off on-demand Lyft rides and 10% off scheduled airport rides (up to 4 per month), as well as 2 free Priority Pickup upgrades per month. New Lyft riders will get a 3-month free DashPass trial. Additionally, linking accounts by December 31, 2024, provides 50% off up to 4 scheduled airport rides and one DoorDash order. DashPass members save $5 per eligible order on average and have saved over $10 billion globally since 2018.