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Lyft, Inc. (NASDAQ:LYFT) shares are trading higher on Thursday after the company provided 2027 financial targets ahead of its Investor Day.
“The financial targets we are announcing today reflect our expectations of healthy top-line growth and margin expansion as we deliver on our strategic priorities,” said CFO Erin Brewer.
Lyft’s 2027 Financial Targets:
2024 Outlook:
Lyft maintains its previously announced outlook for the second quarter and directional commentary for 2024.
In a press release dated May 7, Lyft said it sees second-quarter gross bookings of between approximately $4 billion and $4.1 billion, adjusted EBITDA of between $95 million and $100 million and an adjusted EBITDA margin, calculated as a percentage of Gross Bookings, of approximately 2.4%.
The company said it remains on track to generate positive free cash flow for the full year.
“We’ve had a solid start to the year and we’re on track to deliver on our full-year financial goals with an improved outlook for our full-year free cash flow,” Brewer said earlier.
Price Action: LYFT shares are trading higher by 1.67% to $15.79 at last check Thursday.
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Posted In: LYFT