Lyft Inc ( (LYFT) ) has released its Q4 earnings. Here is a breakdown of the information Lyft Inc presented to its investors.
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Lyft Inc., a leading rideshare company operating in the U.S. and Canada, offers multimodal transportation services including rideshare, bikes, and scooters through its platform.
Lyft recently reported record financial performance for Q4 and the full year of 2024, marking its first full year of GAAP profitability. The company also announced its inaugural $500 million share repurchase program.
Key highlights from the report include a 15% year-over-year increase in Q4 gross bookings to $4.3 billion and a 27% rise in revenue to $1.6 billion. The company achieved a net income of $61.7 million compared to a net loss in the previous year, demonstrating significant margin expansion. For the full year, Lyft reported $16.1 billion in gross bookings and $5.8 billion in revenue, with an adjusted EBITDA of $382.4 million, showcasing strong operational performance with an increase in active riders and rides.
With an optimistic outlook for 2025, Lyft aims to continue leveraging its industry-leading service levels and growing rider and driver engagement, projecting rides growth in the mid-teens and gross bookings growth of up to 14% for Q1 2025.
Looking ahead, Lyft’s management remains focused on enhancing its platform’s appeal to riders and drivers, ensuring robust financial health, and exploring strategic initiatives such as the share repurchase program to strengthen shareholder value.