Lyft, Inc. (NASDAQ:LYFT) Q1 2023 Earnings Conference Call May 4, 2023 4:30 PM ET

Company Participants

Sonya Banerjee - Head of Investor Relations

Logan Green - Co Founder and Board Chair

John Zimmer - President, Co Founder and Vice Chair

David Risher - Chief Executive Officer and Director

Elaine Paul - Chief Financial Officer

Conference Call Participants

Doug Anmuth - JPMorgan Chase and Company

Stephen Ju - Credit Suisse

Eric Sheridan - Goldman Sachs

Nikhil Devnani - Bernstein

Ian Peterson - Evercore ISI

Benjamin Black - Deutsche Bank

Rohit Kulkarni - ROTH MKM

Steven Fox - Fox Advisors

Operator

Good afternoon, and welcome to the Lyft First Quarter 2023 Earnings Call. At this time, all participants are in a listen-only mode to prevent any background noise. Later, we will conduct a question-and-answer session and instructions will be given at that time. [Operator instructions] As a reminder, this conference call is being recorded.

I would now like to turn the conference over to Sonya Banerjee, Head of Investor Relations. You may begin.

Sonya Banerjee

Thank you. Welcome to the Lyft earnings call for the first quarter of 2023. On the call today we have our CEO, David Risher; our CFO, Elaine Paul; and our Co-Founder and Board Chair, Logan Green. In addition, John Zimmer; our Co-Founder, President and Vice Chair; and Kristin Sverchek, our President of Business Affairs are here for the Q&A session.

We will make forward-looking statements on today’s call relating to our business strategy and performance, future financial results and guidance. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected or implied during this call. These factors and risks are described in our earnings slide deck and our recent SEC filings.

All forward-looking statements that we make on today's call are based on our beliefs as of today and disclaim any obligation to update any forward-looking statements, except as required by law. Our discussion will include non-GAAP financial measures, which are not a substitute for our GAAP results. Reconciliations of our historical GAAP to non-GAAP results may be found in our earnings material, which are available on our IR website.

And with that, I will pass the call to Logan.

Logan Green

Thanks, Sonya. Good afternoon, everyone and thank you for joining us. The team is going to address a few big developments on today’s call. I'm going to kick things off by talking about our leadership transition. I'm excited to pass the baton to David Risher, who is now Lyft's second ever CEO. That change was effective on April 17. John will also be transitioning from his role as President early this summer.