Lyft (LYFT) Withdraws Full-Year 2020 Guidance

Lyft, Inc. (Nasdaq: LYFT) (the “Company” or “Lyft”), today announced that it will release financial results for its first quarter ended March 31, 2020 after the close of the market on Wednesday, May 6, 2020.

On the same day, Lyft will host a conference call at 1:30 p.m. Pacific Time (4:30 p.m. Eastern Time) to discuss these financial results and business highlights. To listen to a live audio webcast, please visit the Company’s Investor Relations page at https://investor.lyft.com/. The archived webcast will be available on the Company’s Investor Relations page shortly after the call.

Lyft will provide an update on the impact of COVID-19 on its financial performance for the quarter ended March 31, 2020 on this quarter’s conference call. The pandemic began to have a negative impact on business trends, including ride volumes, in mid-March, which has continued into April. On May 6, Lyft will provide an update on current business trends and the Company's response to COVID-19. This update will include detailed actions the Company is taking to strengthen its financial position, improve its cost structure, and support drivers and riders on the Lyft platform. In light of the evolving and unpredictable effects of COVID-19, Lyft is currently not in a position to forecast the expected impact of COVID-19 on its financial and operating results for the remainder of 2020. As a result, Lyft is withdrawing the annual revenue and adjusted EBITDA guidance it provided on February 11, 2020 for the fiscal year ending December 31, 2020.

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