Lyft, Inc. Class A Common Stock Goldman Sachs Communacopia + Technology Conference 2026

Yeah, for sure. So, it's true. I guess I've been in the chair just about three and a half years now.

Yeah. Best thing in the world, most fun I've ever had in any job.

Let's look back for a couple of years just to sort of maybe set the context. Three years ago when I started, gosh, I think we were doing about 700 million rides a year. We were not GAAP profitable at the time. I think we were generating a couple of hundred million dollars in EBITDA, and we were consuming cash. I think we were burning about $300 million of cash, $250 million three years ago in 2023. Now where are we? Now this year we're going to do over 1 billion rides, which is absolutely wonderful, and we'll come back to that a whole bunch of different times. Of course, we're generating cash to the tune of about $1 billion a year.

We're EBITDA profitable, of course, to the tune of maybe $700 million. By the way, this math comes from just look at Q2 and annualize. Just multiply it by 4 and do that kind of comparison. We'll generate maybe $300 million or $700 million in EBITDA, and of course, when we hit GAAP profitable. That is a huge difference, and I have to pause right now for one second. This is not your question, but I cannot move beyond looking at Erin Brewer here. I have done this, of course, as CEO, but I've had an incredible partner in crime the whole time, Erin Brewer. Erin just announced yesterday she is going to retire towards the end of this year, and I just want to spend a second to give her a huge round of applause.

Yeah. Every single person here.

If there's any good news, and there's only one piece of good news, is that sitting right next to her is Michael Brous. Michael Brous is the guy who took our Lyft business from not so good to fantastic. He's a finance guy. He's a strategic guy. He's an operator. He's exactly the right guy to take us forward. Let's talk a little bit about the future. Where are we going now?

Yeah. Right? I think there are three dimensions to sort of look at.

I think you can look at, here's how we talk about it. Lyft is going to grow up, we're going to grow out, and we're going to grow forward. What does that mean? Think about each one of those. Up means up more towards luxury. If you look at the last couple of years, one of the real sort of macro trends I think you can see is an enormous interest in higher value items. And you see this sometimes on the economy side, it's called the K-shaped economy. If you talk to people in the airlines, you say they're making all their money at the front of the plane. We will do some of the same. We have a whole set of luxury offerings.