Strongest Q1 Ever
Lyft reported its strongest first quarter ever with year-on-year growth across regions, modes, and use cases, resulting in a record Q1 for active riders, rides, and driver hours.
Financial Achievements
Q1 records were set in gross bookings, adjusted EBITDA, and free cash flow. Lyft delivered its 16th consecutive quarter of double-digit year-on-year growth.
Cash Generation and Share Repurchase
Lyft approached nearly $1 billion in cash generation over the last 12 months and increased its share repurchase program to $750 million.
International Expansion
Lyft expanded into Europe with the REENOW acquisition and reported great growth in Canada, with rides growing 55% in Q1.
Innovative Offerings
The introduction of Lyft Silver and Price Lock features were highlighted as innovations for expanding the customer base.