Lyft, Inc. (NASDAQ:LYFT) Q3 2024 Earnings Call Transcript November 6, 2024 5:00 PM ET

Company Participants

Aurelien Nolf - VP, FP&A and IR
David Risher - CEO
Erin Brewer - CFO

Conference Call Participants

Doug Anmuth - JPMorgan
Eric Sheridan - Goldman Sachs
Brian Nowak - Morgan Stanley
Ken Gawrelski - Wells Fargo
Benjamin Black - Deutsche Bank
Shweta Khajuria - Wolfe Research
John Blackledge - TD Cowen
Steven Choi - UBS

Operator

Good afternoon and welcome to the Lyft Third Quarter 2024 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] And as a reminder, this conference call is being recorded. I would now like to turn the conference over to Aurelien Nolf, Vice President, FP&A and Investor Relations. You may begin.

Aurelien Nolf

Thank you. Welcome to the Lyft earnings Call for the third quarter of 2024. On the call today, we have our CEO, David Risher, and our CFO, Erin Brewer.

We'll make forward-looking statements on today's call relating to our business strategy and performance, partnerships, future financial results, and guidance. These statements are subject to risk and uncertainties that could cause our actual results to differ materially from those projected or implied during this call. These factors and risks are described in our earnings materials and our recent SEC filings. All of the forward-looking statements that we make on today's call are based on our beliefs as of today, and we disclaim any obligation to update any forward-looking statements except as required by law.

Additionally, today we are going to discuss customers. For rideshare, there are two customers in every car. The driver is the Lyft customer and the rider is the driver's customer. We care about both. Our discussion today will also include non-GAAP financial measures which are not a substitute for GAAP results. Reconciliation of our historical GAAP to non-GAAP results can be found in our earning materials, which are available on our IR website.

And with that, I'll pass the call to David.

David Risher

Thank you, Aurelien. Good afternoon and thanks for joining us. Once again, our team executed on all parts of our strategic plan, resulting in a spectacular third quarter with progress on what matters most to riders and drivers more than 2 million times a day. Erin will get into the details about our performance this quarter, but a driver from North Carolina put it well when they called Lyft superior to the other guys because of better transparency and overall better pay per ride.