$LYFT (-0.75%) Q3 Earnings Highlights:

🔹 Revenue: $1.52B (Est. $1.44B) 🟢; UP +32% YoY

🔹 EPS: $0.29 (Est. $0.20) 🟢

🔹 Gross Bookings: $4.1B; UP +16% YoY

🔹 Adjusted EBITDA: $107.3M; UP +17% YoY

🔹 Free Cash Flow: $242.8M vs. -$30M in Q3 2023

Q4 Outlook

🔹 Adj EBITDA: $100M - $105M (Est. $85M) 🟢

🔹 Gross Bookings: $4.28B - $4.35B; UP +15% to +17% YoY

🔹 Adj EBITDA Margin: 2.3% - 2.4%

FY24 Guidance

🔹 Rides Growth: Mid-teens YoY

🔹 Gross Bookings Growth: Approximately +17% YoY

🔹 Adjusted EBITDA Margin: ~2.3% (up from prior 2.1% guidance)

🔹 Free Cash Flow: Exceeding $650M

Q3 Operational Metrics

🔹 Active Riders: 24.4M; UP +9% YoY (record high)

🔹 Total Rides: 217M; UP +16% YoY (record high)

🔹 Revenue per Active Rider: $62.40

🔹 Operating Cash Flow: $264.0M vs. $2.3M YoY

Strategic Developments

🔸 Growing monthly subscription model "Price Lock" with over 200,000 active passes, allowing users to avoid surge pricing.

🔸 Autonomous vehicle partnerships with Mobileye, May Mobility, and Nexar for integration planned by 2025.

🔸 Partnership with DoorDash to expand service offerings.

CEO Commentary

🔸 "Our team delivered one of the strongest quarters in Lyft history. Innovations for drivers and riders, along with our partnerships in autonomy, are positioning Lyft as the choice for every ride." – David Risher, CEO