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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.
Vertu is the fourth largest automotive retailer in the UK, with 188 sales outlets and a track record of cross-cycle growth, principally through businesses it has acquired, funded by equity, debt and most importantly cash generation. Vertu operates across the entire vehicle lifecycle, including new and used vehicle sales, and vehicle servicing, repair and parts. Service and repair is a 40+% gross margin repeating business. With economic headwinds, the transition to electric vehicles, recent overs
Companies: Vertu Motors PLC
Progressive Equity Research
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
Loungers is an award winning, uniquely positioned all day café-bar group that has grown revenues an impressive 22.5% CAGR FY16-FY23. Comprising of Lounges, Cosy Club and Brightside, the 257-site group still has huge scope to grow towards its conservative ambition of over 650 sites. Loungers is profitable with improving margins and we forecast will generate over £100m free cashflow (pre-expansion capex) FY24E-FY26E. This, we estimate, will fully fund c.100 new site openings over the next three y
Companies: Loungers Plc
Equity Development
The Hardman & Co Healthcare Index (HHI) has been running since 2009. Its main function is to highlight the attractions of life sciences investments over the long term. For the second year running, apart from global economic influences affecting world markets, performance in 2023 was dented by the capital-intensive nature of the sector. The HHI fell 3.7%, to 483.8, underperforming the main London markets – FTSE 100 (+3.8%) and FTSE All-Share (3.8%) but outperforming the FTSE AIM All-Share Index (
Companies: TXG NDVA TSVT BCOW Z29 TXG NCYT GNS SUN AMS OMG APH EKF EAH IMM AGL DEMG AGY TSTL IPO GDR ETX TRX HVO CTEC AVO OXB DEST VLG IXI VAL INDV AGR AVCT BAI 123F IMCR BCOW
Hardman & Co
Companies: Next plc (NXT:LON)Judges Scientific plc (JDG:LON)
Shore Capital
Companies: JDW MAB MARS WTB FSTA BOWL CPG SSPG LGRS SSTY OTB HSW TMO GYM MEX
Liberum
This morning’s trading statement from ZOO confirms that production companies are taking longer than expected to complete projects. This follows the resumption of new production after the industry-wide strikes ended in November 2023. The anticipated January ramp-up has yet to fully materialise, with entertainment projects expected to complete in January now moving into February and beyond. However, ZOO has been notified by its largest customer of a pipeline of orders that provides good visibility
The Great Correction of 2022 saw the share prices of streamers plunge after market leader Netflix reported a slowdown/fall in subscriber growth. Having formerly been seduced by hectic subscriber growth rates, investors quickly refocused, this time on fundamental metrics such as revenue, margins, profits and cashflow. Since then, streamers have continued to take a steadily greater share of viewing while linear TV continues to decline. But growth in streaming subscribers in the US and UK is now a
Companies: AMZN DIS WBD NFLX NFLX ITV STVG PARA AMZN DIS
Flutter reported softer than expected Q3 23 trading numbers, as unfavourable sports results weighed on the cross-market performance. The firm lost share in the US even as competition intensified in a seasonally light sports quarter, sending the stock sharply lower. However, we expect a strong recovery in the US in Q4 even as Australia is now expected to remain a pain point into FY24. We will trim our estimates by low to mid-single digits to factor in the soft showing.
Companies: Flutter Entertainment Plc
AlphaValue
Pinewood’s transition to a pure-play automotive SaaS business is now largely complete. Today we introduce summary forecasts out to FY26 and reiterate the investment case. We see significant opportunity for Pinewood to grow its user base in the UK and internationally whilst generating high EBITDA margins and cash conversion. With a 24.5p special dividend embedded in the current price (payable Q1/Q2), the effective price today is 12.3p. Based on the Group’s FY27 target of £27m EBITDA, we estimate
Companies: Pinewood Technologies Group PLC
Zeus Capital
Companies: Rank Group Plc
Companies: CTG NXT JTC
Companies: UTL ASC DNLM BWNG MONY DFS BOO
During 2023, ME Group commenced the deployment of its next generation photobooths, which are integrated with the group’s newly developed proprietary software, gained market leadership in the Japanese photobooth market with an acquisition, continued to roll out laundry units with existing and new location partners, commenced a share buyback programme and gained entry into the FTSE 250. 2023 was a year of significant strategic and financial progress, with sales up 15%, EPS up 31% and net cash main
Companies: ME Group International plc
Cavendish
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