Lyft sees Q2 rides growth of 15%

Says drivers will earn 70% of riders fare each week. Says had more drivers use platform in Q1 than in past four years. Says pickup times in Q1 were fastest they have been in four years. Says Q1 was consistent with expectations. Says off to good start in Q2. Says has seen more bike and scooter usage. Says Q2 rides growth 15%. Sees Q2 adjusted EBITDA margin 2.4%. Says expects 70% of adjusted EBITDA to convert to free cash flow in FY24. Says expects FY24 free cash flow to be weighted more towards the first half of the year. Comments taken from Q1 earnings conference call.