4 Reasons Why Lyft Is on the Right Track
's (NASDAQ: LYFT) 28% year-over-year jump in Q1 revenue is a strong indication that after a full year as CEO, David Risher has the company headed in the right direction. There are four key improvements worth noting from the company's recent quarterly report.
Revenue rose 28% to $1.3 billion thanks to a 21% increase in gross bookings. For Q2, Lyft expects to see gross bookings jump from $3.7 billion in the first quarter to as much as $4.1 billion in the current quarter.
Meanwhile, the company's adjusted EBITDA margin was 1.6% of gross bookings, more than doubling year over year. Lyft believes it can improve that number to around 2.4% in the current quarter. According to the earnings report, the company is confident it will have a year of positive cash flow, with a minimum of 70% of its adjusted EBITDA converting to cash.
Source Fool.com
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