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Sep 30, 2024
Lyft Q3 2024 Earnings Report
Lyft's Q3 2024 financial performance was strong, with record active riders and rides, and gross bookings growth.
Key Takeaways
Lyft reported a strong Q3 2024, with record active riders and rides. Gross Bookings increased by 16% year-over-year, and revenue was up by 32%. The company also raised its full-year outlook.
Gross Bookings reached $4.1 billion, a 16% increase year-over-year.
Revenue was $1.5 billion, up 32% year-over-year.
Active Riders reached a record 24.4 million, a 9% increase year-over-year.
Rides also reached a record 217 million, a 16% increase year-over-year.
Lyft
Lyft
Forward Guidance
Lyft anticipates Gross Bookings of approximately $4.28 billion to $4.35 billion, up 15% to 17% year-over-year. Adjusted EBITDA is expected to be $100 million to $105 million, with an Adjusted EBITDA margin of approximately 2.3% to 2.4%.
Positive Outlook
- Gross Bookings are expected to grow 15% to 17% year-over-year.
- Adjusted EBITDA is projected to be $100 million to $105 million.
- Adjusted EBITDA margin is expected to be approximately 2.3% to 2.4%.
- Rides growth in the mid-teens year-over-year.
- Free cash flow to exceed $650 million.