Latest news with #ErinBrewer
Bloomberg
19 hours ago
- Business
- Bloomberg
Why CFOs Are Moving Forward With Deals Now
Newsletter CFO Briefing M&A transactions are up, not down, as many CFOs look beyond tariff tensions and uncertainty. Plus, Lyft's Erin Brewer talks about profit goals, new revenue streams and autonomous vehicles By Save Welcome to CFO Briefing, a newsletter devoted to corporate finance and what leaders need to know. This week, I take a closer look at why dealmaking has been stronger than expected and talk to Lyft's Erin Brewer. But first, here's some other news that caught my eye:
Yahoo
10-06-2025
- Business
- Yahoo
LYFT Q1 Earnings Call: Management Focuses on Product Expansion, International Growth, and AV Partnerships
Ride sharing service Lyft (NASDAQ: LYFT) missed Wall Street's revenue expectations in Q1 CY2025, but sales rose 13.5% year on year to $1.45 billion. Its non-GAAP profit of $0.11 per share was 46.7% below analysts' consensus estimates. Is now the time to buy LYFT? Find out in our full research report (it's free). Revenue: $1.45 billion vs analyst estimates of $1.47 billion (13.5% year-on-year growth, 1.3% miss) Adjusted EBITDA: $106.5 million vs analyst estimates of $92.39 million (7.3% margin, 15.3% beat) EBITDA guidance for Q2 CY2025 is $122.5 million at the midpoint, in line with analyst expectations Operating Margin: -2%, up from -4.9% in the same quarter last year Active Riders: 24.2 million, up 2.3 million year on year Market Capitalization: $6.57 billion Lyft's first quarter results reflected management's ongoing focus on expanding its rider base, including both new demographic segments and geographic markets. CEO David Risher pointed to the successful launch of products like Lyft Silver and the company's entrance into Europe through the FREENOW acquisition as key factors supporting active rider growth. On the call, management highlighted that the commute segment now represents a significant share of rides, underscoring a shift in use cases. CFO Erin Brewer referenced operational discipline in cost management and continued product innovation, such as Wait & Save and Price Lock, as contributors to the company's operating margin improvement from last year. Looking ahead, Lyft's outlook is shaped by its ability to integrate international operations, scale new products, and execute on partnerships in autonomous vehicles (AVs). Management emphasized that the FREENOW acquisition will double Lyft's addressable market, although CEO David Risher acknowledged the need for careful integration. The company is also positioning itself to benefit from the expansion of fleet management and AV supply, with Risher noting, 'AVs are an absolutely extraordinary opportunity for us,' while cautioning that large-scale adoption remains a longer-term prospect. Brewer added that Lyft's insurance and risk programs are expected to support safe platform growth, but acknowledged that macroeconomic factors and evolving competitive dynamics will continue to influence near-term performance. Management attributed first quarter trends to product diversification, operational focus, and early progress in international and AV initiatives, while noting that competitive pricing and insurance costs remained ongoing challenges. Product portfolio expansion: Lyft's management highlighted the growing impact of products like Wait & Save and Price Lock, with Price Lock membership retention rising to approximately 75%. These offerings are designed to address rider preferences for price predictability and affordability, particularly in the commute segment, which now accounts for about a third of all rides. International and demographic growth: The company's rider base expanded through the launch of Lyft Silver and significant progress in Canada, where rider activity nearly doubled over the past year. The FREENOW acquisition, pending closing in the second half of the year, is expected to provide access to nine new European countries and strengthen Lyft's presence in premium taxi markets. Autonomous vehicle partnerships: Management underscored partnerships with May Mobility and Mobileye as steps toward integrating AVs into Lyft's network. Initial pilots, such as the upcoming Atlanta launch, are intended to generate operational insights. However, CEO David Risher emphasized that the pace and economics of AV adoption remain uncertain due to insurance, utilization rates, and supply constraints. Advertising and media platform development: Lyft Media is tracking toward a $100 million annualized revenue run rate, supported by new ad formats and 'sponsored rides' experiments. Management sees opportunities to attract both brand and performance advertisers as the platform's scale and engagement improve. Pricing and insurance dynamics: The average ride price was modestly higher year-over-year but declined compared to the previous quarter. Management cited increased competition and broader market dynamics as factors, while noting that improvements in risk management and insurance partnerships are ongoing but have not yet fully translated into pricing stability. Lyft's forward outlook is anchored by international expansion, deeper product adoption, and the execution of partnerships in AV technology and advertising. FREENOW integration and international focus: Management expects the FREENOW acquisition to be a primary catalyst for growth, effectively doubling Lyft's total addressable market. Early integration efforts will focus on operational alignment and leveraging FREENOW's fleet management expertise in European premium taxi markets, though management stressed that the deal must first close and that further expansion will be considered only after initial integration. AV partnerships and supply diversification: Lyft aims to broaden its supply base through partnerships with both AV technology providers and traditional fleet operators. Management believes these partnerships will diversify service offerings and enhance platform reliability, but cautioned that the impact on margins and pricing from large-scale AV deployments is difficult to predict given current market constraints and insurance complexities. Media and monetization initiatives: The development of Lyft Media and continued innovation in ad formats are expected to contribute incremental revenue. Management stated that successful advertiser adoption—particularly for location-based and 'sponsored ride' campaigns—will be a key determinant of media platform growth, while investments in marketing and technology to support these initiatives may pressure near-term margins. Looking ahead, the StockStory team will monitor (1) the closing and early integration of the FREENOW acquisition, (2) the performance of new product offerings like Price Lock and Lyft Silver in driving rider engagement and retention, and (3) operational milestones in AV partnerships, including pilot launches and fleet management scalability. The continued ramp of Lyft Media and expansion into new geographic markets will serve as additional indicators of strategic execution. Lyft currently trades at a forward EV/EBITDA ratio of 12.9×. At this valuation, is it a buy or sell post earnings? Find out in our full research report (it's free). Donald Trump's victory in the 2024 U.S. Presidential Election sent major indices to all-time highs, but stocks have retraced as investors debate the health of the economy and the potential impact of tariffs. While this leaves much uncertainty around 2025, a few companies are poised for long-term gains regardless of the political or macroeconomic climate, like our Top 5 Growth Stocks for this month. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025). Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-small-cap company Comfort Systems (+782% five-year return). Find your next big winner with StockStory today. 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Business Wire
27-05-2025
- Business
- Business Wire
Lyft CFO to Participate in Fireside Chat Hosted by BofA Securities
SAN FRANCISCO--(BUSINESS WIRE)--Lyft, Inc. (Nasdaq: LYFT) announced today that Erin Brewer, Chief Financial Officer, will participate in a fireside chat at the BofA Securities 2025 Global Technology Conference, on Tuesday, June 3, 2025 in San Francisco, CA at 4:00 p.m. Pacific Time. A live webcast of the event will be available on the investor relations section of the Lyft website at About Lyft Whether it's an everyday commute or a journey that changes everything, Lyft is driven by our purpose: to serve and connect. In 2012, Lyft was founded as one of the first ridesharing communities in the United States. Now, millions of drivers have chosen to earn on billions of rides. Lyft offers rideshare, bikes, and scooters all in one app — for a more connected world, with transportation for everyone. Forward-Looking Statements In the course of the fireside chat, Lyft may make forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements generally relate to future events or Lyft's future financial or operating performance as well as Lyft's other expectations, strategies, priorities, plans or intentions. Lyft's expectations and beliefs regarding these matters may not materialize, and actual results in future periods are subject to risks and uncertainties that could cause actual results to differ materially from those projected, including those more fully described in Lyft's filings with the Securities and Exchange Commission. Non-GAAP Financial Measures In the course of the fireside chat referenced above, Lyft may discuss certain non-GAAP financial measures, including Adjusted EBITDA, Adjusted EBITDA margin (calculated as a percentage of Gross Bookings) and free cash flow. Reconciliations of our historical non-GAAP measures are available on the investor relations portion of our website.
Business Wire
08-05-2025
- Business
- Business Wire
Lyft Reports Strong Q1 2025 Financial Results
SAN FRANCISCO--(BUSINESS WIRE)--Lyft, Inc. (Nasdaq:LYFT) today announced strong financial results for the first quarter ended March 31, 2025. "Q1 marked Lyft's 16th consecutive quarter of double-digit year on year Gross Bookings growth demonstrating the resilience and momentum of our customer-obsessed strategy," said Lyft CEO David Risher. "In the last week of March, rides reached the highest weekly levels in our history and dual-app drivers reported a 23 percentage point preference for Lyft. With our expansion into new demographics via Lyft Silver and into Europe with our planned FREENOW acquisition, we're putting all the pieces in place for sustained, market-leading performance." "Lyft's exceptional Q1 performance – 16% Rides growth, strong profit expansion, and nearly $1 billion in cash from operations over the past 12 months – demonstrates our winning formula of growth with discipline,' said CFO Erin Brewer. 'This financial strength enables us to increase the authorization of our share repurchase program to $750 million while maintaining the ability to invest in our most promising growth initiatives." First Quarter 2025 Financial Highlights Gross Bookings of $4.2 billion, up 13% year over year. Revenue of $1.5 billion, up 14% year over year. Net income (loss) of $2.6 million compared to $(31.5) million in Q1'24. Net income (loss) as a percentage of Gross Bookings was 0.1% compared to net income (loss) as a percentage of Gross Bookings of (0.9)% in Q1'24. Adjusted EBITDA of $106.5 million compared to $59.4 million in Q1'24. Adjusted EBITDA margin as a percentage of Gross Bookings was 2.6% compared to 1.6% in Q1'24. Net cash provided by operating activities of $287.2 million compared to $156.2 million in Q1'24. For the trailing twelve months, net cash provided by operating activities was $980.8 million. Free cash flow of $280.7 million compared to $127.1 million in Q1'24. For the trailing twelve months, free cash flow was $919.9 million. First Quarter 2025 Operational Highlights Rides grew 16% year over year to 218.4 million, a record Q1. Active Riders growth accelerated to 11% year over year to 24.2 million, a record Q1. Driver product innovation: Last week we began piloting Earnings Assistant, an industry-first tool powered by AI that helps drivers maximize their time on the road. Rider product innovation: This week we launched Lyft Silver, a new service thoughtfully designed for older adults to further serve and connect an important and growing demographic. By 2030, over 70 million Americans are expected to be 65 years old or older. Today, only approximately 5% of Lyft riders are 65 years old or older. Share Repurchase Program Our board of directors has authorized an increase to our share repurchase program to a new total of $750 million. We intend to utilize $500 million of this authorization within the next 12 months, $200 million of which will be used within the next 3 months. We intend to enter into one or more Rule 10b5-1 trading plans to facilitate the repurchase of shares under the authorization. Second Quarter 2025 Outlook Rides growth in the mid-teens year over year driven by industry-leading service levels and strong rider and driver engagement. Gross Bookings of approximately $4.41 billion to $4.57 billion, up 10% to 14% year over year. Adjusted EBITDA of approximately $115 million to $130 million and an Adjusted EBITDA margin (calculated as a percentage of Gross Bookings) of approximately 2.6% to 2.8%. We have not provided the forward-looking GAAP equivalent to our non-GAAP outlook or a GAAP reconciliation as a result of the uncertainty regarding, and the potential variability of, reconciling items such as stock-based compensation and income tax. Accordingly, a reconciliation of these non-GAAP guidance metrics to their corresponding GAAP equivalent is not available without unreasonable effort. However, it is important to note that the reconciling items could have a significant effect on future GAAP results. We have provided historical reconciliations of GAAP to non-GAAP metrics in tables at the end of this release. For more information regarding the non-GAAP financial measures discussed in this earnings release, please see "GAAP to non-GAAP Reconciliations" below. Three Months Ended March 31, 2025 December 31, 2024 March 31, 2024 (in millions, except for percentages) Active Riders 24.2 24.7 21.9 Rides 218.4 218.5 187.7 Gross Bookings $ 4,162.4 $ 4,278.9 $ 3,693.2 Revenue $ 1,450.2 $ 1,550.3 $ 1,277.2 Net income (loss) $ 2.6 $ 61.7 $ (31.5 ) Net income (loss) as a percentage of Gross Bookings 0.1 % 1.4 % (0.9 )% Net cash provided by operating activities $ 287.2 $ 153.4 $ 156.2 Adjusted EBITDA $ 106.5 $ 112.8 $ 59.4 Adjusted EBITDA margin (calculated as a percentage of Gross Bookings) 2.6 % 2.6 % 1.6 % Free cash flow $ 280.7 $ 140.0 $ 127.1 Note: Information on our key metrics and non-GAAP financial measures is also available on our Investor Relations page. Expand Definitions of Key Metrics Active Riders The number of Active Riders is a key indicator of the scale of Lyft's user community. Lyft defines Active Riders as all unique riders who have taken at least one ride during the quarter. If a ride is requested by another organization or person for the benefit of a rider, that rider is only included in the calculation of Active Riders if the ride is accessible in the rider's Lyft app. In the first quarter of 2025, Lyft updated the definition of Active Riders to simplify the definition and better align the metric with future scaling of the business. Additionally, unique riders were previously identified by phone number and are currently identified through a unique internal identifier. The change was adopted prospectively and periods prior to the first quarter of 2025 were not changed as the impact was not material. Rides Rides represent the level of usage of our multimodal platform. Lyft defines Rides as the total number of rides including rideshare and bike and scooter rides completed using our multimodal platform that contribute to our revenue. These include any Rides taken through our Lyft App. If multiple riders take a private rideshare ride, including situations where one party picks up another party on the way to a destination, or splits the bill, we count this as a single rideshare ride. Each unique segment of a Shared Ride is considered a single Ride. For example, if two riders successfully match in Shared Ride mode and both complete their Rides, we count this as two Rides. We have largely shifted away from Shared Rides, and now only offer Shared Rides in limited markets. Lyft includes all Rides taken by riders via our Concierge offering, even though such riders may be excluded from the definition of Active Riders unless the ride is accessible in that rider's Lyft App. Gross Bookings Gross Bookings is a key indicator of the scale and impact of our overall platform. Lyft defines Gross Bookings as the total dollar value of transactions invoiced to rideshare riders including any applicable taxes, tolls and fees excluding tips to drivers. It also includes amounts invoiced for other offerings, including but not limited to: Express Drive vehicle rentals, bike and scooter rentals, and amounts recognized for subscriptions, bike and bike station hardware and software sales, media, sponsorships, partnerships, and licensing and data access agreements. Adjusted EBITDA margin (calculated as a percentage of Gross Bookings) Adjusted EBITDA margin (calculated as a percentage of Gross Bookings) is calculated by dividing Adjusted EBITDA for a period by Gross Bookings for the same period. For the definition of Adjusted EBITDA, refer to 'Non-GAAP Financial Measures.' Webcast Lyft will host a webcast today at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) to discuss these financial results and business highlights. Supplemental materials, including management's prepared remarks, will be available on the Company's Investor Relations page in advance of the call. To listen to a live audio webcast, please visit our Investor Relations page at The archived webcast will be available on our Investor Relations page shortly after the call. About Lyft Whether it's an everyday commute or a journey that changes everything, Lyft is driven by our purpose: to serve and connect. In 2012, Lyft was founded as one of the first ridesharing communities in the United States. Now, millions of drivers have chosen to earn on billions of rides. Lyft offers rideshare, bikes, and scooters all in one app — for a more connected world, with transportation for everyone. Available Information Lyft announces material information to the public about Lyft, its products and services and other matters through a variety of means, including filings with the Securities and Exchange Commission, press releases, public conference calls, webcasts, the investor relations section of its website ( its X accounts (@lyft and @davidrisher), its Chief Executive Officer's LinkedIn account ( and its blogs (including: and in order to achieve broad, non-exclusionary distribution of information to the public and for complying with its disclosure obligations under Regulation FD. Forward Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements generally relate to future events or Lyft's future financial or operating performance. In some cases, you can identify forward looking statements because they contain words such as "may," "will," "should," "expects," "plans," "anticipates,' 'going to,' "could," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of these words or other similar terms or expressions that concern Lyft's expectations, strategy, priorities, plans or intentions. Forward-looking statements in this release include, but are not limited to, Lyft's guidance and outlook, including expectations for the second quarter of 2025, and the trends and assumptions underlying such guidance and outlook, Lyft's expectations regarding its share repurchase program, including the timing of repurchases thereunder, and Lyft's expectations regarding its proposed acquisition of FREENOW and its anticipated impact on Lyft's total addressable market and international operations. Lyft's expectations and beliefs regarding these matters may not materialize, and actual results in future periods are subject to risks and uncertainties that could cause actual results to differ materially from those projected, including risks related to the macroeconomic environment and risks regarding our ability to forecast our performance due to our limited operating history and the macroeconomic environment and the risk that our partnerships may not materialize as expected. The forward-looking statements contained in this release are also subject to other risks and uncertainties, including those more fully described in Lyft's filings with the Securities and Exchange Commission ('SEC'), including in our Annual Report on Form 10-K for the full fiscal year 2024 that was filed with the SEC on February 14, 2025 and our Quarterly Report on Form 10-Q for the quarter ended March 31, 2025 that will be filed with the SEC by May 12, 2025. The forward-looking statements in this release are based on information available to Lyft as of the date hereof, and Lyft disclaims any obligation to update any forward-looking statements, except as required by law. This press release discusses "customers." For rideshare, there are two customers in every car - the driver is Lyft's customer, and the rider is the driver's customer. We care about both. Non-GAAP Financial Measures To supplement Lyft's financial information presented in accordance with generally accepted accounting principles in the United States of America, or GAAP, Lyft considers certain financial measures that are not prepared in accordance with GAAP, including Adjusted EBITDA, Adjusted EBITDA margin (calculated as a percentage of Gross Bookings) and free cash flow. Lyft defines Adjusted EBITDA as net income (loss) adjusted for interest expense, other income (expense), net, provision for (benefit from) income taxes, depreciation and amortization, stock-based compensation expense, payroll tax expense related to stock-based compensation, sublease income and gain from lease termination, as well as, if applicable, restructuring charges and costs related to acquisitions, divestitures and other corporate matters. Adjusted EBITDA margin (calculated as a percentage of Gross Bookings) is calculated by dividing Adjusted EBITDA for a period by Gross Bookings for the same period and is considered a key metric. Lyft defines free cash flow as GAAP net cash provided by (used in) operating activities less purchases of property and equipment and scooter fleet. Lyft subleases certain office space and earns sublease income. Sublease income is included within other income, net on the condensed consolidated statement of operations, while the related lease expense is included within operating expenses and loss from operations. Lyft believes the adjustment to include sublease income in Adjusted EBITDA is useful to investors by enabling them to better assess Lyft's operating performance, including the benefits of recent transactions, by presenting sublease income as a contra-expense to the related lease charges that are part of operating expenses. In the fourth quarter of 2024, we terminated a portion of the lease for the Company's San Francisco headquarters. The right-of-use asset associated with the portion of this lease was previously impaired as part of our restructuring plans in the fourth quarter of 2022 and second quarter of 2023, and the extinguishment of the remaining lease liability resulted in the recorded gain within operating lease costs. We believe this does not reflect the performance of our ongoing operations and that the adjustment to exclude this gain from lease termination from Adjusted EBITDA is useful to investors by enabling them to better assess Lyft's ongoing operating performance and provide for better comparability with Lyft's historically disclosed Adjusted EBITDA amounts. In September 2024, Lyft committed to plans of termination as part of efforts to reduce operating expenses. Lyft believes the costs associated with these restructuring efforts do not reflect performance of Lyft's ongoing operations. Lyft believes the adjustment to exclude the costs related to restructuring from Adjusted EBITDA is useful to investors by enabling them to better assess Lyft's ongoing operating performance and provide for better comparability with Lyft's historically disclosed Adjusted EBITDA amounts. Lyft uses its non-GAAP financial measures in conjunction with GAAP measures as part of our overall assessment of our performance, including the preparation of our annual operating budget and quarterly forecasts, to evaluate the effectiveness of our business strategies, and to communicate with our board of directors concerning our financial performance. Free cash flow is a measure used by our management to understand and evaluate our operating performance and trends. We believe free cash flow is a useful indicator of liquidity that provides our management with information about our ability to generate or use cash to enhance the strength of our balance sheet, further invest in our business and pursue potential strategic initiatives. Free cash flow has certain limitations, including that it does not reflect our future contractual commitments and it does not represent the total increase or decrease in our cash balance for a given period. Free cash flow does not necessarily represent funds available for discretionary use and is not necessarily a measure of our ability to fund our cash needs. Lyft's definitions may differ from the definitions used by other companies and therefore comparability may be limited. In addition, other companies may not publish these or similar metrics. Furthermore, these measures have certain limitations in that they do not include the impact of certain expenses that are reflected in our consolidated statement of operations that are necessary to run our business. Thus, our non-GAAP financial measures should be considered in addition to, not as substitutes for, or in isolation from, measures prepared in accordance with GAAP. Condensed Consolidated Balance Sheets (unaudited) March 31, 2025 2024 Assets Current assets Cash and cash equivalents $ 985,494 $ 759,319 Short-term investments 1,168,501 1,225,124 Prepaid expenses and other current assets 969,915 966,090 Total current assets 3,123,910 2,950,533 Restricted cash and cash equivalents 261,400 186,721 Restricted investments 1,374,522 1,355,451 Other investments 42,118 42,516 Property and equipment, net 415,099 444,864 Operating lease right of use assets 146,272 148,397 Intangible assets, net 39,342 42,776 Goodwill 251,476 251,376 Other assets 13,859 12,435 Total assets $ 5,667,998 $ 5,435,069 Liabilities and Stockholders' Equity Current liabilities Accounts payable $ 98,633 $ 97,704 Insurance reserves 1,823,535 1,701,393 Accrued and other current liabilities 1,735,315 1,666,278 Operating lease liabilities, current 24,920 25,192 Convertible senior notes, current 390,537 390,175 Total current liabilities 4,072,940 3,880,742 Operating lease liabilities 147,972 152,074 Long-term debt, net of current portion 549,878 565,968 Other liabilities 59,093 69,269 Total liabilities 4,829,883 4,668,053 Stockholders' equity Preferred stock, $0.00001 par value; 1,000,000 shares authorized as of March 31, 2025 and December 31, 2024; no shares issued and outstanding as of March 31, 2025 and December 31, 2024 — — Common stock, $0.00001 par value; 18,000,000 Class A shares authorized as of March 31, 2025 and December 31, 2024; 411,817 and 409,474 Class A shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively; 100,000 Class B shares authorized as of March 31, 2025 and December 31, 2024; 8,531 and 8,531 Class B shares issued and outstanding as of March 31, 2025 and December 31, 2024. 4 4 Additional paid-in capital 11,104,110 11,035,246 Accumulated other comprehensive loss (10,435 ) (10,103 ) Accumulated deficit (10,255,564 ) (10,258,131 ) Total stockholders' equity 838,115 767,016 Total liabilities and stockholders' equity $ 5,667,998 $ 5,435,069 Expand Lyft, Inc. Condensed Consolidated Statements of Cash Flows (in thousands) (unaudited) Three Months Ended March 31, 2025 2024 Cash flows from operating activities Net income (loss) $ 2,567 $ (31,535 ) Adjustments to reconcile net income (loss) to net cash provided by operating activities Depreciation and amortization 33,572 32,408 Stock-based compensation 93,158 80,098 Amortization of premium on marketable securities 33 64 Accretion of discount on marketable securities (21,482 ) (20,872 ) Amortization of debt discount and issuance costs 927 804 Gain on sale and disposal of assets, net (371 ) (4,336 ) Other (332 ) 2,114 Changes in operating assets and liabilities, net effects of acquisition Prepaid expenses and other assets (9,027 ) 9,760 Operating lease right-of-use assets 5,497 7,055 Accounts payable 800 31,819 Insurance reserves 122,142 53,084 Accrued and other liabilities 67,496 8,486 Lease liabilities (7,746 ) (12,772 ) Net cash provided by operating activities 287,234 156,177 Cash flows from investing activities Purchases of marketable securities (1,028,810 ) (1,124,149 ) Purchases of term deposits — (2,194 ) Proceeds from sales of marketable securities 71,204 43,973 Proceeds from maturities of marketable securities 1,014,047 841,665 Proceeds from maturities of term deposits 2,194 3,539 Purchases of property and equipment and scooter fleet (6,500 ) (29,106 ) Sales of property and equipment 13,523 24,181 Net cash provided by (used in) investing activities 65,658 (242,091 ) Cash flows from financing activities Repayment of loans (16,492 ) (20,572 ) Proceeds from issuance of convertible senior notes — 460,000 Payment of debt issuance costs — (11,888 ) Purchase of capped call — (47,886 ) Repurchase of Class A common stock — (50,000 ) Payment for settlement of convertible senior notes due 2025 — (350,000 ) Proceeds from exercise of stock options and other common stock issuances — 1,924 Taxes paid related to net share settlement of equity awards (24,294 ) (1,462 ) Principal payments on finance lease obligations (10,903 ) (11,479 ) Net cash used in financing activities (51,689 ) (31,363 ) Effect of foreign exchange on cash, cash equivalents and restricted cash and cash equivalents (349 ) (528 ) Net increase (decrease) in cash, cash equivalents and restricted cash and cash equivalents 300,854 (117,805 ) Cash, cash equivalents and restricted cash and cash equivalents Beginning of period 946,040 771,786 End of period $ 1,246,894 $ 653,981 Expand Lyft, Inc. Condensed Consolidated Statements of Cash Flows (in thousands) (unaudited) Three Months Ended March 31, 2025 2024 Reconciliation of cash, cash equivalents and restricted cash and cash equivalents to the consolidated balance sheets Cash and cash equivalents $ 985,494 $ 507,918 Restricted cash and cash equivalents 261,400 144,698 Restricted cash, included in prepaid expenses and other current assets — 1,365 Total cash, cash equivalents and restricted cash and cash equivalents $ 1,246,894 $ 653,981 Non-cash investing and financing activities Financed vehicles acquired $ 725 $ 88,350 Purchases of property and equipment and scooter fleet not yet settled 10,419 8,496 Right-of-use assets acquired under finance leases 1,336 11,956 Right-of-use assets acquired under operating leases 942 3,328 (509 ) (3,659 ) Expand Lyft, Inc. GAAP to Non-GAAP Reconciliations (in millions) (unaudited) Three Months Ended March 31, 2025 December 31, 2024 March 31, 2024 Adjusted EBITDA Net income (loss) $ 2.6 $ 61.7 $ (31.5 ) Adjusted to exclude the following: Interest expense (1) 7.5 8.1 8.5 Other (income) expense, net (40.9 ) (39.2 ) (41.1 ) Provision for (benefit from) income taxes 3.4 (1.2 ) 2.6 Depreciation and amortization 33.6 33.7 32.4 Stock-based compensation 93.2 76.1 80.1 Payroll tax expense related to stock-based compensation 4.0 1.5 7.4 Sublease income 0.1 0.5 1.1 Costs related to acquisitions, divestitures and other corporate matters 3.2 — — Gain from lease termination (2) — (29.6 ) — Restructuring charges (3) — 1.2 — Adjusted EBITDA $ 106.5 $ 112.8 $ 59.4 Gross Bookings $ 4,162.4 $ 4,278.9 $ 3,693.2 Net income (loss) as a percentage of Gross Bookings 0.1 % 1.4 % (0.9 )% Adjusted EBITDA margin (calculated as a percentage of Gross Bookings) 2.6 % 2.6 % 1.6 % Expand ____________________ (1) Includes $1.3 million, $1.4 million and $1.4 million related to the interest component of vehicle related finance leases in the three months ended March 31, 2025, December 31, 2024 and March 31, 2024, respectively. (2) In the fourth quarter of 2024, we recorded a $29.6 million gain as a result of a lease termination. (3) In the fourth quarter of 2024, we incurred restructuring charges of $0.7 million of fixed asset disposals, $0.2 million of other current assets disposals and other costs and $0.3 million of severance and other employee costs. These charges were related to the restructuring plan announced in September 2024. Note: Due to rounding, numbers presented may not add up precisely to the totals provided. Expand ____________________ Note: Due to rounding, numbers presented may not add up precisely to the totals provided. Expand
Yahoo
04-03-2025
- Business
- Yahoo
Lyft (NasdaqGS:LYFT) CAO Steps Down CFO Brewer Takes Interim Role
Lyft recently experienced a 0.47% price decline, which could be associated with executive changes announced during the week. The departure of Chief Accounting Officer Lisa Blackwood-Kapral, and the temporary appointment of Erin Brewer, could have been seen as a destabilizing factor. Meanwhile, broader market trends further impacted Lyft's performance. The Dow Jones and S&P 500 each shed 1.8% amid investor apprehensions regarding new U.S. tariffs, leading to an overarching sense of economic uncertainty. The broader market fell by 2.5% over the week, suggesting that macro-level concerns over tariffs, and their potential impact on inflation and global trade, weighed heavily on stocks. As a result, Lyft's slight decline might reflect both internal executive shifts and broader market turbulence affecting investor confidence. Unlock comprehensive insights into our analysis of Lyft stock here. Over the last year, Lyft's total shareholder return was a 25.88% decline. This performance significantly underperformed the US Transportation industry, which saw a 6.4% decline, and the broader US market, which delivered a 13.1% return. During this period, Lyft transitioned to profitability, reporting a net income of US$22.78 million for 2024 compared to a net loss of US$340.32 million the previous year. This financial turnaround included sales growth to US$5.79 billion from US$4.40 billion. Contributing to the share price movements were several key developments. Lyft's announcement of a US$500 million share repurchase program in February 2025 marked an important capital management decision. Additionally, its partnerships with Mobileye and others to advance autonomous vehicle technology underscored a commitment to innovation. Legal issues, such as class action lawsuits around accessibility services and securities law, added pressure, potentially impacting investor sentiment. These factors, among others, shaped the company's market performance over the past year. See whether Lyft's current market price aligns with its intrinsic value in our detailed report Understand the uncertainties surrounding Lyft's market positioning with our detailed risk analysis report. Invested in Lyft? Simplify your portfolio management with Simply Wall St and stay ahead with our alerts for any critical updates on your stocks. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include NasdaqGS:LYFT. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Sign in to access your portfolio
