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Research Alert: Lyft Posts In-line Results, Kpi Deceleration But Resilient Guidance

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-- CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:

LYFT reported Q1 results near expectations, with revenue of $1.65B (+14% Y/Y) slightly above the consensus view ($1.63B) and GAAP EPS of $0.04 just missing expectations for $0.07. Adjusted EBITDA of $133M (+25% Y/Y) was near consensus ($131M), with margin expanding 10 bps Y/Y (-30 bps Q/Q) to 2.7% of gross bookings. Demand metrics remained strong but decelerated slightly, with gross bookings up 19% to $4.9B (flat with Q4's growth), Active Riders growing 17% to 28.3M (vs. Q4's +18%) and Rides decelerating to 8.5% growth from 11.4% in Q4, with management continuing to prioritize profitability over volume. Q2 guidance was encouraging, with gross bookings guided to $5.365B (+19.5% Y/Y) and adjusted EBITDA guided to ~$170M (+32% Y/Y), both representing modest acceleration. Partnerships remain a key growth driver, with 27% of North American rides in Q1 linked to partnerships and DoorDash-linked rides hitting a record high. Free cash flow of $287M significantly exceeded Street expectations ($130M).

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