🚨$LYFT (+1,82 %) Earnings

- 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 expenses. Net loss as a percentage of Gross Bookings was (0.9)% and compares with (6.2)% in Q1’23.

- Adjusted EBITDA of $59.4 million compares with $22.7 million in Q1’23. Adjusted EBITDA margin as a percentage of Gross Bookings was 1.6% and compares with 0.7% in Q1’23.

- “Lyft is off to a strong start in 2024. We are executing well and bringing much-needed innovation to the market. That’s why drivers and riders are choosing Lyft more often,” said CEO David Risher. “After a year in the driver’s seat at Lyft I’m thrilled to see all the ways that our customer obsession drives profitable growth