Financial Data and Key Metrics Changes - Q1 2025 was Lyft's strongest Q1 ever, with records in gross bookings, adjusted EBITDA, and free cash flow [6][7] - Lyft achieved nearly $1 billion in cash generation over the last twelve months, indicating a strong growth with discipline [7] - The company increased its share repurchase program to $750 million while still investing in growth initiatives [7] Business Line Data and Key Metrics Changes - Lyft reported year-on-year growth across regions, modes, and use cases, resulting in record active riders, rides, and driver hours [6] - The company highlighted strong growth in its commute segment, which is now the largest use case, accounting for about one-third of rides [75] Market Data and Key Metrics Changes - Lyft's Canadian market grew rides by 55% in Q1 2025, with plans to expand into Quebec [110] - The company noted that gross bookings per ride in Canada are lower than the average in the U.S., impacting overall gross bookings [110] Company Strategy and Development Direction - Lyft is focusing on expanding its presence in Europe through the acquisition of FreeNow and targeting new demographics with LiftSilver [7] - The company aims to enhance its operational excellence and customer obsession to drive growth in underrepresented markets [110] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in being well-positioned for 2025 and beyond, emphasizing the importance of customer obsession and operational excellence [7] - The management acknowledged the challenges in the pricing environment, noting that average prices in Q1 were lower than in the previous quarter but up modestly year-over-year [12][13] Other Important Information - Lyft's pricing strategy remains competitive and reliable, with ongoing innovations to improve the rider experience [12][13] - The company is actively working on insurance programs to enhance safety and reliability for drivers and riders [14][15] Q&A Session Summary Question: Pricing environment and insurance impact - Management noted that average prices in Q1 were lower than in Q4 but showed modest year-over-year increases, with a focus on maintaining competitive pricing [12][13] - On insurance, the company is innovating to enhance safety and has a strong risk management team in place [14][15] Question: Affordability initiatives and international ambitions - Management highlighted the importance of affordability and the success of features like "wait and save," which has increased ridership [71][72] - The company is focusing on growth in Canada and Europe, with plans for further international expansion contingent on the success of the FreeNow acquisition [26][27] Question: AV partnerships and market dynamics - Management expressed excitement about partnerships in the AV space, emphasizing the potential for new supply and market expansion [31][32] - They noted that the dynamics of AV pricing and service levels vary by market, making it difficult to predict long-term impacts [45][46] Question: FreeNow acquisition and taxi initiatives - The acquisition of FreeNow is expected to double Lyft's addressable market and enhance growth opportunities [70] - Management indicated that the taxi initiative in the U.S. is important for diversifying supply but did not speculate on its immediate impact on growth [90][91] Question: Consumer behavior and spending - Management observed that as pricing increases subside, consumers may be more willing to spend on rides, particularly with the introduction of features that enhance predictability [73][74] - They noted that the commute segment continues to show strong growth, contributing to overall ride increases [118]

Q1 2025 Performance Highlights - Lyft achieved a Q1 record of 2184 million rides, a 16% year-over-year increase[8, 25] - The company reached a Q1 record of 242 million active riders, representing an 11% year-over-year growth[8, 28] - Gross bookings hit a Q1 record of $42 billion, up 13% year-over-year[8, 22] - Adjusted EBITDA reached a Q1 record of $106 million, with a 26% margin of gross bookings[8, 31] Strategic Initiatives - Lyft is introducing Earnings Assistant for drivers, an AI-powered tool to maximize their time on the road[12, 14] - The company is launching Lyft Silver, a new service designed for older adults, targeting a demographic where only approximately 5% of Lyft riders are currently 65 years or older[15, 18] - Lyft's trailing twelve months free cash flow reached $920 million[34] Guidance - For Q2 2025, Lyft projects gross bookings between $441 billion and $457 billion, indicating a 10% to 14% year-over-year increase[36] - The company anticipates an adjusted EBITDA between $115 million and $130 million for Q2 2025[36] - Lyft expects an adjusted EBITDA margin of approximately 26% to 28% of gross bookings for Q2 2025[36] - Lyft increased the authorization of its share repurchase program to $750 million, planning to deploy $500 million within the next twelve months[36]

Core Insights - Lyft's shares increased by 5% following the announcement of a $750 million share buyback plan in its first quarter earnings report, with shares peaking at a 10% rise post-earnings [1][2] Financial Performance - Revenues for Lyft grew by 14% year-over-year, reaching $1.45 billion, although this was slightly below the $1.47 billion estimate from LSEG [4] - The company reported a net income of $2.57 million, equating to 1 cent per share, a significant improvement from a net loss of $31.54 million, or 8 cents per share, in the previous year [1][4] Operational Metrics - The number of rides increased by 16% during the period, totaling 218.4 million rides, while active riders grew by 11% to 24.2 million [2] - Gross bookings surged by 13% to $4.16 billion, slightly exceeding the $4.15 billion estimate from StreetAccount, marking the 16th consecutive period of double-digit year-over-year gross booking growth [2] Strategic Initiatives - CEO David Risher highlighted the company's expansion into new demographics through Lyft Silver and plans for a FREENOW acquisition in Europe, aiming for sustained market-leading performance [2]

Exhibit 99.1 Lyft Reports Strong Q1 2025 Financial Results Strongest start to the year ever with record Q1 Gross Bookings and Active Riders growth accelerating Cash flow generation approaching $1 billion for the trailing twelve months Increasing share repurchase program to $750 million SAN FRANCISCO, CA, May 8, 2025 - 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 Book ...

About Kodiak Robotics, Inc. Kodiak Robotics, Inc. was founded in 2018 and has become a leader in autonomous ground transportation committed to a safer and more efficient future for all. The company has developed an artificial intelligence (AI) powered technology stack purpose-built for commercial trucking and the public sector. The company delivers freight daily for its customers across the southern United States using its autonomous technology. In 2024, Kodiak became the first known company to publicly ann ...

Mergers and Acquisitions - OpenAI plans to acquire Windsurf for approximately $3 billion, marking its largest acquisition to date aimed at enhancing its technological capabilities in the AI sector [2] - Intel is selling 51% of its stake in Altera to Silver Lake for an estimated valuation of $8.75 billion, as part of its strategy to improve its balance sheet [3] - Harman International is acquiring Masimo's audio business for $350 million, with the deal expected to close by the end of the year [4] - Infosys has reached a final agreement to acquire The Missing Link, an Australian cybersecurity firm, to strengthen its cybersecurity capabilities [5] - DoorDash is set to acquire UK-based food delivery company Deliveroo for approximately $3.9 billion, expanding its international footprint [6] - Uber plans to acquire 85% of Turkish food delivery platform Trendyol GO for about $700 million, pending regulatory approval [7] - Lyft is acquiring European ride-hailing app FreeNow for approximately €175 million ($197 million), with the deal expected to close in the second half of 2025 [8] - Hugging Face is entering the robotics field by acquiring Pollen Robotics, although the financial terms of the deal were not disclosed [9] - WPP is acquiring data collaboration platform InfoSum to enhance its AI-driven data services [10] - CleverTap is acquiring rehool.ai to strengthen its customer retention services [11] - Focus Media plans to acquire New潮传媒 for an estimated valuation of 8.3 billion yuan [13] - China Mobile intends to acquire approximately 15.46% of Hong Kong Broadband for about HKD 1.2 billion [14] - IBM has completed the acquisition of Hakkoda to expand its data transformation services [15] - FuboTV is under investigation by the U.S. Department of Justice regarding its acquisition by Disney, focusing on potential market concentration issues [19] - Universal Music's acquisition of Downtown Music is facing an EU investigation due to potential competitive impacts [20] - Onsemi has withdrawn its acquisition offer for Allegro Microsystems, citing reluctance from Allegro's board [21]

Key Takeaways Uber and Lyft will report earnings this week. Uber Leads the ride-sharing market due to its market share, performance, and diverse business. Robotaxis are a crucial focus for both companies. Uber, Lyft to Report Earnings This WeekLater this week, the two ride-share leaders,Uber Technologies ((UBER) and Lyft ((LYFT) ), will report first-quarter 2025 earnings.Lyft generates almost its entire revenue from ridesharing and owns roughly a quarter of the ride-sharing market in the United States. Me ...

Company Performance - Lyft's stock closed at $12.40, reflecting a -1.12% change from the previous day's closing price, underperforming the S&P 500's gain of 0.15% [1] - Over the past month, Lyft's stock has increased by 2.53%, outperforming the Computer and Technology sector's gain of 1.15% and the S&P 500's loss of 0.21% [1] Upcoming Earnings - Lyft is set to release its earnings report on May 8, 2025, with analysts expecting earnings of $0.20 per share, representing a year-over-year growth of 33.33% [2] - The consensus estimate for revenue is $1.46 billion, indicating a 14.65% increase from the same quarter last year [2] Fiscal Year Estimates - For the entire fiscal year, Zacks Consensus Estimates predict earnings of $1.02 per share and revenue of $6.51 billion, reflecting changes of +7.37% and +12.57% respectively from the previous year [3] - Recent changes to analyst estimates for Lyft are important as they reflect near-term business trends, with positive revisions indicating analysts' confidence in the company's performance [3] Valuation Metrics - Lyft is currently trading at a Forward P/E ratio of 12.25, which is lower than the industry average Forward P/E of 18.51 [6] - The PEG ratio for Lyft is 0.58, compared to the average PEG ratio of 1.33 for the Internet - Services industry [6] Industry Context - The Internet - Services industry, part of the Computer and Technology sector, has a Zacks Industry Rank of 168, placing it in the bottom 33% of over 250 industries [7] - The Zacks Industry Rank assesses the strength of industry groups, with the top 50% rated industries outperforming the bottom half by a factor of 2 to 1 [7]

Group 1 - Engine Capital, a special situations fund, aims to elect two candidates to Lyft's board to address governance and capital allocation issues, proposing a $750 million accelerated share repurchase program, elimination of the dual class share structure, and de-staggering the board [1][2] - Engine Capital criticizes Lyft's capital structure as "completely unoptimized," highlighting that co-founders with 2.3% ownership hold 30% voting power, and the staggered board structure hinders full board turnover [2] - Lyft's management emphasizes its focus on customer satisfaction and operational strength, reporting record gross bookings, adjusted EBITDA, and free cash flow in 2024 [3][4] Group 2 - Lyft's board unanimously recommends a vote for its director nominees and urges stockholders not to support Engine Capital's proxy card [4] - Lyft CEO David Risher asserts that the company is already implementing many of Engine's suggested actions, having initiated a $500 million share repurchase program and acquired FREENOW for European expansion [5][6] - Risher notes a 56% reduction in stock-based compensation since 2022 and the addition of directors with capital allocation expertise as part of Lyft's strategic improvements [6]

Core Insights - Uber is the dominant player in the North American ride-sharing market and has diversified into food delivery and freight, while Lyft focuses primarily on ride-sharing in the U.S. [4][5][22] - Uber's growth strategies include international expansion, acquisitions, and a strong buyback program, indicating confidence in its business model [6][7][22] - Lyft is also pursuing opportunities in the autonomous vehicle market but has faced challenges and is more vulnerable to economic downturns compared to Uber [9][23] Group 1: Uber's Performance and Strategy - Uber's gross bookings from the Mobility segment are expected to grow 15.6% year-over-year, while the Delivery segment is projected to grow 15.1% [6] - The company generated a record $6.9 billion in free cash flow in 2024 and announced a $1.5 billion accelerated stock buyback program [7] - Uber's market capitalization stands at $163.85 billion, positioning it well to navigate economic challenges [22] Group 2: Lyft's Position and Challenges - Lyft's sales estimates for 2025 and 2026 imply year-over-year increases of 12.6% and 12.2%, respectively, but its EPS estimates have been trending downward [15] - The company has introduced a Price Lock feature to attract more riders, which has shown better-than-expected performance [12][13] - Lyft's market capitalization is significantly smaller at $5.12 billion, making it less resilient in uncertain economic conditions [23] Group 3: Comparative Analysis - Uber has outperformed Lyft in stock market performance, with a year-to-date gain of 29.9% compared to Lyft's decline of 4.9% [18] - Lyft's forward sales multiple is 0.76, below its five-year median, while Uber's is 3.10, indicating a premium for its market position [21] - Overall, Uber is viewed as a better investment option compared to Lyft, despite both companies currently holding a Zacks Rank 3 (Hold) [24]