Financial Data and Key Metrics Changes - In Q4 2020, Lyft's revenue was $570 million, a 14% increase sequentially from $500 million in Q3 2020, and approached the top end of the initial range of $555 million to $575 million [32][33] - Adjusted EBITDA loss improved to $150 million, which was 19% better than the outlook of $185 million, and nearly $90 million better sequentially [42][49] - Contribution margin for Q4 was 55.5%, up from 49.8% in Q3, benefiting from reduced driver acquisition and engagement spend [35][36] Business Line Data and Key Metrics Changes - Active riders increased to 12.6 million, a slight increase of 30 basis points from Q3, despite a decline in rider activations due to COVID-19 restrictions [33] - Revenue per active rider reached $45.40, a 14% increase quarter-over-quarter and a $1 increase year-over-year [33][35] - Contribution increased 27% sequentially to $316 million from $249 million in Q3 [35] Market Data and Key Metrics Changes - Rideshare rides were down 52% year-over-year in December 2020, reflecting the impact of COVID-19 restrictions [12][31] - Recovery trends varied across North America, with the West Coast being the weakest region, while states like Florida and Texas showed signs of rebounding [14][16] Company Strategy and Development Direction - Lyft aims to position itself as a leader in the transportation-as-a-service model, leveraging its multimodal transportation platform and preparing for the deployment of autonomous vehicles [19][20] - The company plans to invest in driver supply in Q1 2021 to improve service levels in anticipation of stronger demand in Q2 [16][48] - Lyft is focused on maintaining a balance between growth and profitability, with a goal to achieve adjusted EBITDA profitability by Q4 2021 [53][55] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in a strong rebound in demand post-pandemic, particularly in leisure travel and entertainment in the second half of 2021 [17][18] - The operating environment remains uncertain, with management unable to predict Q1 results with confidence due to variability in COVID-19 impacts [43][44] - Management highlighted the importance of investing in technology and operational efficiencies to drive long-term growth and improve unit economics [96] Other Important Information - Lyft facilitated over 100,000 paid autonomous vehicle rides since 2018 and plans to deploy fully autonomous vehicles in multiple cities in 2023 [28] - The company has introduced a Lyft California Driver Benefits Fee to offset costs associated with new driver benefits following Proposition 22 [64] Q&A Session Summary Question: How will rideshare be different when it comes back? - Management believes urbanization trends will continue and that the demand for rideshare will remain strong despite changes in work-from-home patterns [76][78] Question: Clarification on long-term margin comments? - Management stated they aim to lead the industry in long-term margins, focusing on maximizing long-term free cash flow growth per share [83][84] Question: What investments are necessary irrespective of demand? - Management emphasized a zero-based budgeting approach, allowing for flexibility in investments based on demand recovery [88][89] Question: Impact of new insurance agreements on contribution margin? - Management indicated that new insurance agreements are expected to improve contribution margins by transferring primary insurance risk [100][102]

Lyft, Inc. Conference Call Summary Company Overview - **Company**: Lyft, Inc. (NASDAQ:LYFT) - **Event**: Credit Suisse 24th Annual Technology Virtual Conference - **Date**: December 2, 2020 - **Participants**: John Zimmer (President, Co-Founder, Vice Chair), Stephen Ju (Credit Suisse) Key Points Industry and Market Dynamics - The pandemic has accelerated the digital transition across various sectors, including rideshare, but may have led to a temporary shrinkage in Lyft's addressable market as consumers shift back to car ownership and suburban living [2][3] - Despite the pandemic, Lyft believes the fundamental demand for transportation as a service remains strong, with opportunities for growth in off-peak hours and alternative use cases [3][4] Growth Opportunities - Lyft is targeting a significant market opportunity, with over $1 trillion spent annually on vehicle ownership, while rideshare has only captured 1-2% of that market [4] - The company is expanding its use cases beyond traditional rideshare, including partnerships with universities and healthcare providers for transportation services [6][9] - Lyft's diversified portfolio includes ridesharing, bike-sharing (Citi Bike), and car rentals, which have shown resilience during the pandemic [7][8] Innovations and Technology - Lyft is focusing on a portfolio approach to transportation, integrating various services to enhance user experience and meet diverse consumer needs [7][8] - The company is developing a white-label delivery service for retailers, aiming to provide a cost-effective solution without the high commission fees typical in the industry [12][13] - Lyft's autonomous vehicle strategy remains efficient and partner-oriented, with a focus on integrating human drivers and autonomous vehicles in a hybrid model [15][16] Financial Performance and Cost Management - Lyft is on track to achieve profitability by Q4 of the following year, with ongoing investments in R&D, including autonomous technology [18] - The company has implemented significant cost reductions, estimating $300 million in annual savings, which will enhance profitability per ride [42] Regulatory Environment - Lyft has actively engaged with regulators to create a favorable operating environment, successfully navigating challenges such as California's Proposition 22 [20][24] - The company is optimistic about the federal regulatory landscape, believing that the model established in California could influence national policies [24][25] Competitive Landscape - Lyft has maintained and even increased its market share despite competitive pressures, focusing on innovation rather than promotional tactics to attract users [30][36] - The company emphasizes its unique offerings, such as bike-sharing and consumer rentals, which differentiate it from competitors like Uber [33][34] Long-term Vision - Lyft envisions a future where car ownership is optional and cities are designed around people rather than vehicles, promoting a subscription-based model for transportation services [55][56] - The company aims to reshape urban infrastructure by reducing the need for parking and enhancing public transportation options [55][56] Additional Insights - Lyft's strategic focus on cost management and innovation positions it well for recovery post-pandemic, with a strong emphasis on long-term growth and sustainability [42][56] - The company is committed to providing a comprehensive transportation solution that meets evolving consumer preferences and market demands [56][57]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _________________________________________________________________ FORM 10-Q _________________________________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2020 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Comm ...

| --- | --- | --- | --- | --- | --- | --- | |-------|-------|-------|-------|-------|--------------------------------------------|-------| | | | | | | | | | | | | | | | | | | | | | | Q3 Fiscal 2020 Earnings Supplemental Data | | | | | | | | November 10, 2020 | | Forward Looking Statements & Non-GAAP Financial Measures This presentation and the accompanying oral presentation contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the ...

Lyft, Inc. (NASDAQ:LYFT) Q3 2020 Earnings Conference Call November 10, 2020 4:30 PM ET Company Participants Sonya Banerjee - Investor Relations Logan Green - Co-Founder and Chief Executive Officer John Zimmer - Co-Founder and President Brian Roberts - Chief Financial Officer Conference Call Participants Stephen Ju - Credit Suisse Doug Anmuth - JPMorgan Mark Mahaney - RBC Eric Sheridan - UBS Benjamin Black - Evercore ISI Youssef Squali - Truist Securities Operator Good afternoon, and welcome to the Lyft Thir ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _________________________________________________________________ FORM 10-Q _________________________________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2020 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 San Francisco, California 94107 (Address of ...

Lyft, Inc. (NASDAQ:LYFT) Q2 2020 Earnings Conference Call August 12, 2020 5:00 PM ET Company Participants Shawn Woodhull - Head, IR Logan Green - Co-Founder and CEO John Zimmer - Co-Founder and President Brian Roberts - CFO Conference Call Participants Benjamin Black - Evercore ISI Doug Anmuth - JPMorgan Stephen Ju - Credit Suisse Mark Mahaney - RBC Eric Sheridan - UBS Edward Yruma - KeyBanc Operator Good afternoon, and welcome to the Lyft Second Quarter 2020 Earnings Call. At this time, all participants ar ...

Q2 2020 Key Financial Performance - Lyft's Q2 2020 Adjusted EBITDA loss was \$280 million, an improvement compared to the initial outlook of \$360 million and the most recent outlook of \$325 million[6] - Revenue per Active Rider declined by only 2% year-over-year in Q2 2020, reflecting resilience in ride frequency and increased revenue per rideshare ride[6] - Lyft achieved a record low non-GAAP sales & marketing expense as a percentage of revenue at 13%, due to a significant decline in rider incentives[7] COVID-19 Impact and Recovery - Rideshare rides grew by 95% during the week ended July 26 compared to the week ended April 12, 2020[6, 18] - For every \$1 decline in revenue from Q1 2020 to Q2 2020, the Adjusted EBITDA loss increased by only 32 cents[13] - Active Riders decreased by 60% year-over-year from 218 million in Q2 2019 to 87 million in Q2 2020[14] Cost Savings and Profitability - Lyft is on track to realize annualized fixed cost savings of \$300 million by Q4 2020[7] - The company expects to achieve Adjusted EBITDA profitability with 20-25% fewer rides than required in the original profitability target[7] Insurance Transaction - Lyft signed a novation agreement for legacy auto liability underwritten between October 1, 2015, and September 30, 2018, with a subsidiary of Enstar, with transaction costs of \$647 million[19] - The insurance reserves decreased from \$13785 million as of March 31, 2020, to \$943636 million as of June 30, 2020[18]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 _________________________________________________________________ FORM 10-Q _________________________________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2020 (State or other jurisdiction of incorporation or organization) Delaware 20-8809830 (I.R.S. Employer Identification No.) 185 Berry Str ...

Lyft, Inc. (NASDAQ:LYFT) Q1 2020 Earnings Conference Call May 6, 2020 4:30 PM ET Company Participants Shawn Woodhull - Head of Investor Relations Logan Green - Co-Founder & Chief Executive Officer John Zimmer - Co-Founder & President Brian Roberts - Chief Financial Officer Conference Call Participants Stephen Ju - Credit Suisse Mark Mahaney - RBC Doug Anmuth - JPMorgan Eric Sheridan - UBS Benjamin Black - Evercore ISI Edward Yruma - KeyBanc Brent Thill - Jefferies Brian Fitzgerald - Wells Fargo Itay Michael ...