Lyft (NASDAQ: LYFT) reported Q4 EPS of $0.17, $0.09 better than the analyst estimate of $0.08. Revenue for the quarter came in at $1.22 billion versus the consensus estimate of $1.22 billion.

Q1’24 Outlook:

Gross Bookings of approximately $3.5 billion to $3.6 billion
Adjusted EBITDA of $50 million to $55 million and an Adjusted EBITDA margin (calculated as a percentage of Gross Bookings) of approximately 1.4% to 1.5%.

FY’24 Directional Commentary:

Rides growth in the mid-teens year-over-year.
Gross Bookings growth that is slightly faster than Rides growth year-over-year.
Adjusted EBITDA margin expansion (calculated as a percentage of Gross Bookings) of approximately 500 basis points year-over-year.
Given these factors, along with our plans for slightly lower capital expenditures for 2024 relative to 2023, we anticipate that Lyft will generate positive Free Cash Flow for the full-year for the first time. In terms of the magnitude, we expect that roughly half of Adjusted EBITDA will convert to Free Cash Flow for full-year 2024.

For earnings history and earnings-related data on Lyft (LYFT) click here.