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Lyft reports gross bookings in line with our expectations at $13.8bn, up 14% YoY in FY23. Gross Bookings were driven by an 18% growth in rides to 709mn (5.6% above our expectations). Gross Bookings reached $3,724mn in 4Q23, up 17% YoY on the back of a 26% rides growth in 4Q. The number of Active Riders grew by 10% YoY to 22.4mn in 4Q, while staying flat QoQ. Lyft demonstrated strong cost control during the year and improved its Adj EBITDA as percentage of Gross Bookings from -7.8% in 4Q22 to 1
Companies: Lyft Inc (LYFT:NYSE)Lyft, Inc. Class A (LYFT:NAS)
Hypothesis Research
Lyft starts reporting new metrics – gross bookings, rides, and Adj EBITDA as percentage of Gross Bookings. Lyft reports gross bookings of $3.554bn, up 15% YoY in 3Q23. Rides grew 20% YoY to 187mn supported by a 10% Active Riders growth. Lyft said more drivers have chosen Lyft. Driver hours reached multi-year highs. “Back to school” and “back to office” rides were drivers behind the performance. The Women app also added the driver confidence to women drivers (c.15% of Lyft riding hours). In 9M2
Lyft reports quarterly revenue of $1.02bn, up 3% YoY and up 2% QoQ in 2Q23, in line with expectations. The result reflects the increased number of Active riders by 8.3% YoY (9.7% QoQ) to 21.5mn (the highest level in nearly 3 years) and reduced revenue per active rider by 4.8% YoY to $47.51 and down 7.2% QoQ from $51.17 in 1Q23 due to more competitive pricing. Rideshare rides grew 18% YoY, and the company said the quarterly airport rides are the highest since 2019. The average number of rides p
Lyft reports quarterly revenue of $1.0bn, up 14.3% YoY and down 14.8% QoQ in 1Q23. The result came above the guidance of $975mn in a seasonally weak quarter. However, the company provides only a flat guidance of 1.0-1.02bn for 2Q23. Lyft reported 18.55mn Active Riders in 1Q23 compared to 20.4mn active riders in 4Q22 and 18.8mn in 1Q22 or up 9.8% YoY. Revenue per Active Rider increased 4% YoY to $51.17 but came below $57.72 reported in 4Q22. Adjusted EBITDA was $22.7mn in 1Q23, above the guidan
Lyft's Q4 financial performance was mixed as it reported wider-than-expected losses despite surpassing the revenue expectations of Wall Street. The company saw a mix of high demand for ride-sharing services, an improving supply, and promising early results from its cost-cutting initiatives. Lyft delivered $1.175 billion in sales, up 12% from the previous quarter and 21% from the previous year. Its overall revenue for 2022 increased by 28% compared to 2021 and the company added $375 million to it
Baptista Research
Lyft reports historically record quarterly revenue of $1,175mn, up 21% YoY 4Q22 driven by higher revenue per active rider. The company reported 20.4mn active riders in 4Q, up 9% YoY; however, nearly flat QoQ. The revenue per active rider reached $57.72, up 11% QoQ and YoY. Adjusted EBITDA loss for 4Q22 was $248.3mn following the $375mn negative impact from the increase of insurance reserves including $225mn reflected in the cost of revenue and $150mn in G&A. We assumed a negative impact of $82
Lyft had a mixed quarter and failed to meet the revenue expectations of Wall Street but managed an earnings beat. Active drivers, active riders, and total rides everything was high. Demand was strong. Airport rides, scooters, and bike rides reached a new all-time high. Moreover, Lyft's business-managed booking also grew and reached a new high with the strong adoption of its B2B offerings, which include Concierge and Lyft Pass. In this quarter, the number of active users who are using Lyft displa
After a sharp correction, Lyft saw a recovery in the stock price and its results justified the same. As the demand was up, the company delivered an all-around beat. Rideshare rides were up 27% year over year, and both active riders and rides have reached post-COVID highs. In Q2, the airport use case accounted for an all-time high of 10.2% of all ridesharing trips, while managed Lyft business bookings more than doubled, increasing by 105% from the previous year. In addition, compared to Q1, the n
This is our first report on ride sharing major, Lyft. The company's business in 2022 so far has been impacted to some extent by the Omicron but there has been a sharp recovery in the past quarter. The number of daily average rideshare trips have been increasing gradually. Besides that, their overall market has been improving. The number of active drivers increased by more than 40% in Q1, compared to the same period last year, and new driver activations increased by 70%. In Q1, the company had 17
Research Tree provides access to ongoing research coverage, media content and regulatory news on Lyft Inc. We currently have 9 research reports from 2 professional analysts.
Companies: 88E CNC FTC TRCS HEIQ CREO ZAM
Cavendish
26th April 2024 A corporate client of Hybridan LLP ** Arranged by type of listing and date of announcement *** Alphabetically arranged **** Potential means Intention to Float (ITF) has been announced Dish of the day Admissions: Delistings: C4X Discovery Holdings (C4XD.L) has left AIM. What’s baking in the oven? ** Potential**** Initial Public Offerings: Reverse Takeovers: 16 April 2024: Electric Guitar (ELEG.L) Concurrent with its Admission to trading on AIM, Electric Guitar is proposing to acqu
Companies: ROQ SOU PRM ITM THRU LGRS KIBO ADF
Hybridan
Companies: Tortilla Mexican Grill Ltd.
Liberum
We are initiating coverage of a.k.a. Brands Holding Corp. ("a.k.a. Brands" or the "company"), a leading owner of primarily online apparel-based brands focused on Generation Z and Millennial consumers, with a Buy rating and $14.00 price target, or 10.9X our 2025 EBITDA projection of $20.2 million. The company's brands include: 1) Princess Polly, focusing on 15 to 25 year-old women; 2) Petal & Pup, which offers feminine styles for 25 to 34 year-old women; 3) Culture Kings, a street wear destinatio
Companies: GPS URBN ITX AEO AEO GES GES ITX GPS ANF 0R32 URBN
Small Cap Consumer Research LLC
Topps Group is the UK’s largest specialist supplier and distributor of tiles and associated products to the UK’s domestic and commercial markets. Each of the last three years the Group has successfully achieved record revenue in a market that’s seen recent volume declines and regional peers enter administration. Following the right sizing of its business, Topps Group is now well positioned to capitalise on the economic recovery and continue taking share from competitors, supported by its global
Companies: Topps Tiles Plc
Zeus Capital
Companies: BBY BYG FOUR SRP CTEC IDS SUPR DOM BOO
Companies: Safestay Plc
Companies: Loungers Plc
Domino’s Pizza Group’s (DOM’s) new CEO has set an ambitious long-term growth target, including an acceleration in its net store opening programme. With better alignment between the company and its franchisees, management believes DOM should be capable of generating improved profit growth, versus that achieved in recent years, and potential higher returns.
Companies: Domino's Pizza Group plc
Edison
Pinewood Technologies’ results for the 13 months to 31 January 2024 confirmed good growth in user numbers, revenue and operating profit for the continuing automotive software business. Our unchanged forecasts (see 6 March research) show strong revenue growth, high margins, and good cash generation over the period to FY26 as the Group executes its accelerated growth plan. As of Tuesday this week, Pinewood’s shares are ex-dividend and a 1-for-20 share consolidation is effective, meaning our discou
Companies: Pinewood Technologies Group PLC
Today’s trading statement from ZOO highlights a ramp-up in demand following the end to the industry-wide strikes of last year. ZOO struck a note of caution in its January update regarding the timing of orders. However new productions are starting to translate into a healthy order pipeline, with a good recovery in revenue anticipated in H1 FY25. The update guides to revenue of at least $40m for the year to March 2024, ahead of our estimate at $36.8m. We have improved our adjusted EBITDA loss marg
Companies: ZOO Digital Group plc
Progressive Equity Research
Companies: ITV RR/ KWS JD/ SENX
Shore Capital
Companies: Grafton Group Plc
Canaccord Genuity
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