TMTB: LYFT ABNB AKAM Z UPST HOOD First takes

LYFT +50% with gross bookings and EBITDA guide better than street. They are also guiding FCF positive for the first time and big EBITDA full year guide of 500bps improvement yy (significantly above street)

Haven’t done math, but seeing chats imply $1B in EBITDA vs street at $350M

Full year guide:

• 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