Exhibit 99.1 Lyft Reports Record Q3 2025 Financial Results Exceeds $1 billion in cash flow generation for the trailing twelve months Growth to accelerate through the end of 2025 and into 2026 SAN FRANCISCO, CA, November 5, 2025 - Lyft, Inc. (Nasdaq: LYFT) today announced financial results for the third quarter ended September 30, 2025. "Our Q3 results prove that Lyft's comeback strategy is working," said CEO David Risher. "We once again smashed records, announced more autonomous vehicle partnerships, and la ...

Core Insights - United Airlines has integrated Lyft into its MileagePlus loyalty program, allowing members to earn airline miles on eligible Lyft rides, enhancing the travel experience for customers [1][2][4] Group 1: Collaboration Details - Lyft riders who are MileagePlus members can earn between one and four miles for every dollar spent on eligible rides [2] - The collaboration is expected to expand by early 2026, enabling MileagePlus members to redeem miles directly for Lyft rides and receive automated flight alerts and ride reminders [3] Group 2: Strategic Goals - The integration aims to create a seamless travel experience from departure to arrival, providing more ways for travelers to earn rewards [4] - Lyft's Chief Marketing Officer highlighted that many customers use Lyft for airport trips, thus enhancing the value of their rides [4] Group 3: Additional Offerings - United Airlines launched a new debit card that allows customers to earn miles on everyday purchases, further engaging customers in the loyalty program [5] - The debit card is seen as a natural extension of the loyalty program, providing additional earning opportunities for members [5]

Core Points - Lyft has partnered with United Airlines to offer MileagePlus points to riders, reinstating a rewards program after ending its previous partnership with Delta Airlines [1][3] - Riders can earn miles based on the type of ride booked, with different multipliers for various services, including up to four miles per dollar for pre-scheduled airport rides [2] - The partnership aims to enhance customer experiences for both Lyft and United Airlines, reflecting a customer-centric approach [3] Summary by Sections Partnership Details - Lyft has re-established a partnership with United Airlines to provide MileagePlus points to its riders [1] - This comes after Lyft's previous eight-year partnership with Delta Airlines was terminated earlier this year [3] Earning Structure - Riders can earn one mile for every dollar spent on Standard Priority Pickup and XL rides, and two miles for business profile bookings [2] - Extra Comfort, Lyft Black, Black SUV, and regular airport rides will earn three miles per dollar, while pre-scheduled rides to and from the airport will earn four miles per dollar [2] - The rewards do not stack; riders receive the highest value multiplier for their bookings [2] Customer Experience Focus - Lyft's marketing chief emphasized the partnership's focus on improving customer experiences for both companies [3] - The approach is described as simple yet customer-obsessed, indicating a strategic alignment between Lyft and United Airlines [3]

Market Overview - All three major U.S. stock indices are experiencing declines, with the NASDAQ composite down nearly 2%, the S&P 500 down over 1%, and the Dow down about 0.5% [2][4][66] - The U.S. dollar index has risen above the 100 level, marking a multi-month high, which typically puts pressure on equities [3][66] Technology Sector - The technology sector is leading the market decline, with significant drops in major tech stocks such as Nvidia down over 3.5%, Tesla down more than 4%, and Palantir down over 9% despite strong quarterly results [4][66] - Concerns about AI stock valuations are weighing heavily on tech stocks, as investors reassess the sustainability of high valuations in the face of potential economic headwinds [7][69] Cryptocurrency Market - The cryptocurrency market is facing significant pressure, with Bitcoin down over 5.5% and breaching the $100,000 level, marking a 20% decline from its all-time high earlier in October [5][67] - Ether has also seen a decline of more than 11%, attributed to liquidity concerns within the market [6][67] Earnings Reports and Forecasts - Amazon reported strong quarterly results, with shares up 14% year-to-date, and is expected to see over 20% annual earnings growth over the next five years [9][10] - Alphabet's stock is up 46% year-to-date, driven by positive regulatory outcomes and strong performance in AI across its services [11][12] - Meta's shares are up 8% year-to-date, but the company faces scrutiny over its significant AI spending [13][14] - Uber's Q3 results showed strong gross bookings, but the stock is experiencing a sell-off due to lower-than-expected delivery margins [15][18] Regulatory Developments - The Supreme Court is set to hear arguments regarding President Trump's use of emergency powers to impose tariffs, which could have significant implications for the market [24][25] - The outcome of this case could affect the overall tariff landscape, with current tariffs averaging 13.4% on global trade [28] Company-Specific News - Apple is preparing to enter the low-cost laptop market, targeting budget-conscious consumers, which could impact its traditional premium positioning [36][37] - Papa John's shares have declined following reports that Apollo Global has withdrawn its offer to take the company private, amid expectations of low growth in same-store sales [40][41][44] - Denny's is set to be acquired for $620 million, with shares surging over 60% on the news, indicating strong investor interest in the go-private deal [46][47] Electric Aircraft Market - Beta Technologies, an electric aircraft manufacturer, has gone public, pricing its stock at $34 per share, with plans to use the capital for industrialization and scaling production [50][52] - The company aims to capitalize on the growing market for electric aviation, particularly in cargo and medical logistics, which presents a substantial total addressable market [54][55]

Core Viewpoint - Uber is set to report earnings soon, with the stock having increased over 60% this year and currently trading just 5% below its all-time high [1][3] Company Performance - Uber is experiencing growth in both delivery and mobility sectors, with expectations for continued strong performance [3][5] - The company is viewed as a "super app," integrating various services to enhance user engagement and profitability [5] Market Context - The overall market appears to be consolidating at all-time highs, with some analysts suggesting a potential 30% upside for Uber by 2026 [4] - Lyft is considered to be undervalued, but it faces challenges competing with Uber on a global scale [6] Consumer Behavior - Consumers are becoming more selective in their spending due to inflation, but Uber remains a preferred choice for transportation and delivery services [9][10] - The demand for Uber's services is expected to remain strong, even as other sectors may experience declines [10] Autonomous Vehicle Development - Uber's autonomous vehicle initiatives are still in early stages, but there is potential for significant growth in this area [11] - A partnership with Tesla is speculated to be beneficial for both companies, potentially boosting Uber's stock [12][13] Trading Insights - Implied volatility is elevated ahead of the earnings report, with the options market pricing in a potential 6% move in either direction [14] - A bullish trading strategy involving a call diagonal is suggested, with a focus on capturing potential upside post-earnings [15][19]

Core Insights - Lyft has shown significant financial improvement in recent quarters, with a notable increase in revenue and a shift to profitability [1][2][4] - The company's market cap stands at $8 billion, significantly lower than Uber's $200 billion, suggesting potential for better returns for investors [1][2] - Lyft's stock has risen approximately 60% this year, comparable to Uber's growth, but its valuation remains modest [2][10] Financial Performance - Lyft's revenue for the first half of the year exceeded $3 billion, marking a 12% increase from the previous year [4] - The company reported a net income of $42.9 million, a substantial improvement from a loss of $26.5 million in the same period last year [4] - Lyft's profit margin is currently at 1%, which, while small, represents a significant improvement [5] Growth Catalysts - Lyft's management is optimistic about future growth, expecting rides growth to continue in the mid-teens for the third quarter [6] - The number of active riders reached an all-time high of 26.1 million last quarter, with new initiatives aimed at increasing this number [7] - Programs like Lyft Cash for business accounts and Lyft Silver for older adults are designed to attract more riders [7] Market Position and Valuation - Despite a high price-to-earnings (P/E) ratio of nearly 90, Lyft's forward P/E is projected at 19 based on analyst expectations for the upcoming year [10] - Analysts anticipate significant long-term improvement in Lyft's business, suggesting that it may still be a good investment opportunity [11]

Group 1 - Wedbush raised Lyft's target price from $15 to $17 while maintaining a "Neutral" rating [1]

Core Viewpoint - UBS has raised the target price for Uber from $117 to $124, Lyft from $15 to $21, and Amazon from $271 to $279 [1] Group 1: Company Target Price Adjustments - Uber's target price increased by $7, reflecting a positive outlook for the company [1] - Lyft's target price saw a significant increase of $6, indicating improved market expectations [1] - Amazon's target price was raised by $8, suggesting strong performance and growth potential [1]

Core Viewpoint - Lyft's upcoming earnings report is highly anticipated, with expectations of growth in both EPS and revenue compared to the previous year [2][3]. Financial Performance - Lyft's stock increased by 1.53% to $20.57, outperforming the S&P 500's gain of 0.58% on the same day [1]. - Over the past month, Lyft's shares have decreased by 8.16%, while the Computer and Technology sector saw a slight decline of 0.5% [1]. - The consensus estimate for Lyft's EPS is projected at $0.3, reflecting a 3.45% increase year-over-year, with revenue expected to reach $1.71 billion, a 12.1% rise from the same quarter last year [2]. Annual Estimates - For the entire fiscal year, earnings are estimated at $1.18 per share, indicating a 24.21% increase, with total revenue projected at $6.53 billion, representing a 12.91% growth from the previous year [3]. Analyst Sentiment - Changes in analyst estimates for Lyft are crucial as they often indicate shifts in near-term business trends, with upward revisions suggesting positive sentiment towards the company's operations [4]. - The Zacks Rank system, which assesses these estimate changes, currently rates Lyft at 3 (Hold), indicating a neutral outlook [6]. Valuation Metrics - Lyft's Forward P/E ratio stands at 17.17, which is below the industry average of 25.22, suggesting a valuation discount [7]. - The PEG ratio for Lyft is currently 1.06, compared to the Internet - Services industry's average PEG ratio of 1.7, indicating a favorable growth outlook relative to its valuation [7]. Industry Context - The Internet - Services industry, which includes Lyft, ranks in the top 39% of all industries according to the Zacks Industry Rank, suggesting strong performance potential [8].

Core Thesis - Lyft, Inc. is positioned for significant growth due to its partnership with Waymo, which aims to expand robotaxi services, potentially transforming urban mobility and increasing its market share in the ride-hailing industry [2][3][5] Company Overview - Lyft is a U.S.-based ride-hailing company that connects riders and drivers through its app and provides insurance coverage for trips [2] - Historically, Lyft has experienced steady growth in ride volumes and revenue but remains smaller than Uber, facing challenges related to profitability and competition from autonomous vehicles [2] Partnership with Waymo - The partnership with Waymo, established in September 2025, is a pivotal development for Lyft, allowing it to leverage Waymo's expertise in autonomous vehicle technology [2][3] - This collaboration is expected to reduce labor costs and lower ride prices, potentially making car ownership less necessary and expanding Lyft's total addressable market beyond the current $60 billion ride-hailing industry [3] Market Potential - Lyft's current revenue of $6 billion represents only a small fraction of the potential market, and capturing a share of the robotaxi rides could significantly enhance its value [3][5] - The partnership positions Lyft to participate in a multi-trillion-dollar future ride-hailing market, suggesting a compelling investment case for the company [5] Competitive Landscape - Risks include potential competition from dominant players like Tesla, which may bypass traditional platforms, and the possibility of Lyft becoming merely an app intermediary [4] - However, the Waymo partnership mitigates these risks by indicating a willingness from AV leaders to collaborate with Lyft rather than exclude it from the market [4] Historical Context - Previous bullish analyses on Lyft, such as the Freenow acquisition, have highlighted the company's international growth, with its stock price appreciating approximately 85% since April 2025 [6] - The current bullish view emphasizes the importance of the Lyft-Waymo partnership and the future opportunities in the robotaxi sector [7]