Good afternoon and welcome to Lyft's second quarter 2026 earnings call. As a reminder, this conference call is being recorded.

On the call today, we have our CEO, David Risher, and our CFO, Erin Brewer. Our prepared remarks are available on the IR website, and we'll use this time to answer your questions.

We'll make forward-looking statements on today's call, including statements relating to our business strategy and performance, partnerships, future financial and operating results, trends in our marketplace, and guidance. These statements are subject to risks 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 in our recent SEC filings. All forward-looking statements that we make today's call are based on our beliefs as of today, and we disclaim any obligation to update any forward-looking statements, except required by law.

Additionally, today, we're going to discuss customers. For rideshare, there are generally two customers in every car: the driver is Lyft's customer, and the rider is the driver's customer.

We care about both. Our discussion today will include non-GAAP financial measures, which are not a substitute for GAAP results.

Reconciliations of our historical GAAP to non-GAAP results can be found in our earnings materials, which are available on our IR website. With that, I'll pass the call to David.

Thank you, Erin. Good afternoon, everyone, and thank you for joining us.

Q2 2026 was a quarter of record-breaking performance for Lyft, demonstrating the durable strength of our marketplace. We achieved an all-time high of over 30 million active riders, proving that rideshare is embedded in people's everyday lives.

Our results are guided by a simple, powerful strategy built on our relentless focus on customer obsession, operational excellence, and being a world-class partner. This leads to more riders, more rides, and more ways to ride.

With 262 million rides in the second quarter alone, we are well on our way to hitting over 1 billion rides in 2026. Our up strategy continues to gain momentum, with premium modes growing double digits year on year for the 12th consecutive quarter, supported by record performance in our TBR chauffeuring business.

We're also seeing unprecedented success in our ecosystem of partnerships, with approximately 30% of North American rideshare rides linked to a partner, a new all-time high, highlighting the scalable impact of our collaborations with leaders like DoorDash and United Airlines. With our out part of our strategy, our global integration efforts are on track as we move toward one unified Lyft app worldwide, with beta testing now live in over a dozen European cities, while our AV roadmap advances with smooth fleet operations in Nashville and strong testing results in London, ensuring we are well positioned for a hybrid AV future.

With that, let me turn it over to Erin to take you through a few of our financial highlights.

Thanks, David. From a financial perspective, we delivered accelerating top-line growth, with gross bookings up 23% year over year to $5.5 billion.

Adjusted EBITDA grew 37% year over year, reflecting continued cost leverage, driving margin expansion, and our fourth consecutive quarter of over $1 billion in free cash flow for the trailing 12 months. Our team continues to build a business that is both high growth and highly disciplined.

With that, let's take your questions.

Great, thank you for taking the question, hopefully you can hear me okay. I wanted to ask about the rider growth metric you reported in the quarter.

Can you unpack the elements of what's driving rider growth and maybe track it back to elements of structural product improvements you're making, including some of the go-to-market partnerships you've signed, and how much of it might have been things that were newer into the business like the California insurance dynamics, World Cup demand, any promotional activity? Just wanted to go a little bit deeper in terms of some of the structural versus maybe some of the transient dynamics around rider growth.

Thanks so much.

Hi, Eric. This is Erin.

Why don't I start, and then David can jump in. As I think about our results across Q2, it's really to your point, it's not one thing.

I think about the strength of our North America rideshare business, our continued strong growth as we think about expanding in low-scale markets, Canada. Themes we've talked about repeatedly.

We also just had an outstanding quarter within our bikes business. We talked about in our prepared remarks across several of our operated markets just hitting weekly, daily all-time highs, the popularity of e-bikes, and sort of the way that those are embedded into people's commutes in certain cities is is really impressive.

Then, even FREE NOW, while granted, we didn't have FREE NOW in the same quarter last year, even if I look at that organically, rides are up there. That's great progress in some of the early improvements we've made in delivering great rides across Europe.

It's really foundational strength across the business as we think about growing active riders to that record number that we achieved in the quarter. David, I don't know if you want to join in.

Obviously, partnerships play a role here, and we had some great results there. I'll turn it over to you.

It's an interesting question, and you can, as Erin just did, answer it on so many dimensions, and frankly, see so much strength on so many dimensions. Erin mentioned geography.

We're seeing growth in North America, in some of our largest markets like New York, in some of our low-scale markets, as Erin said, in Canada, where we continue to see extraordinary growth there, almost double now year on year. In Europe, we're seeing organic growth, which is absolutely wonderful.

This is about almost exactly a year into FREE NOW, and already we're starting to see real results of some of the technology and some of the product innovation that we've added to that platform, and we're really still just getting started there. That would be one dimension.

Then you asked about sort of the product improvement dimension, and there you can look at everything from early days of things like Lyft Teens, which is going super well, Lyft Silver, which continued to do super well, and even some of the stuff that's kind of you almost take for granted, but really shouldn't, around marketplace health. Let me give you an example: we now have improved again year on year our ETAs, our pick-up times, and on average, they are kind of down, faster, anywhere from 0.5% to 1% to 2% to 3%, it depends on the geography and so forth.

That at our scale is really quite meaningful. I'll take just a moment to brag for the team for a second.

If I look at our competitor, we actually pick you up the same or faster than they do 75% of the time right now, which is really quite extraordinary because, obviously, we have a smaller share. Some of the foundational work really continues to help.

Save money, check Lyft, right? That's another piece now on the marketing side.

It's really quite across the board, and maybe that's not satisfying, but I think in a certain sense that sort of says, gosh, the work we're doing, the customer-obsessed work we're doing really is working across just about every dimension, even if you take out things like seasonality and World Cup and other things, which are obviously nice, but that's sort of a bit of external stuff.

Hi guys, two questions. One, as you think about kind of where you are on margins on the path hopefully to 4% next year, where do you think you're kind of really outperforming right now as we look forward, and where do you think there's still kind of work to do?

Then second, just on Nashville, the depot coming online sounds like in October, can you just kind of give us an update on what the gating factors are there to rolling out as a potential distribution partner, and is that still kind of on time to happen before the end of the year? Thanks.

That sounds good, Brad. Why don't I start with the second part of the question, and then Erin can take the first.

Nashville, I'll answer your question directly and also maybe zoom out just a click. Nashville, yeah, very much on track for a depot opening as you said.

That's the purpose-built depot, for those of you who didn't see this, it's about an 80,000 square foot depot, used to be a USPS facility, outfitted now with 4 megawatts of power and multiple charging stations and so forth, capable of handling hundreds of vehicles to give you a sense of the size of that. That's kind of where things are on there.

Let's back up and then go forward. If we back up, the big news in Nashville for us over the last quarter was actually our taking on what was called the temporary kind of depot that Waymo had stood up.

This is actually a really important milestone for us because our staff took over was actually on June 9th, and our staff took over from the Waymo staff, and it was seamless. It was seamless.

We got credit from them, it was actually, it was a bit of a complicated weather day, and different things happened, but anyway, we not only picked it up, but we are exceeding all of our SLAs with those guys, which is amazing. That's a great first step.

Then comes the opening of the depot, the purpose-built guy which comes later this year in October or so. Then to your question, when does supply-sharing start?

We haven't said anything about that publicly, except it'll happen before the end of the year, but it's still very much on track that before the end of the year, you'll have the opportunity to get matched with Waymo on the Lyft app. Very much on track, great partnership with our partner, and I think they also feel great about us.

Brad, and then on your question on the margins side, Q2, obviously, we expanded our EBITDA by 37%, our guide for Q3 calls for margin expansion quarter on quarter, we feel great about the trajectory that we're on overall. I would say, in terms of what's driving that, it's kind of a lot of the similar themes you've heard us talking about.

We're in a growing market. There's still great opportunity.

We've talked for a number of quarters about low-scale markets. Those have continued to grow higher than average.

Canada continues to be a very strong market, of course, for us overall. You take that very broad market opportunity, and you have the foundation of operational excellence, as David said, just continuing to operate more effectively, driving better service for riders, investing as we do against, for example, really smart ways to invest rider incentives, that continues to bring new riders to the platform, they ride more frequently.

As we get that scale and that operational excellence, of course, there's natural leverage in the business. Cost discipline is another area that we have talked about going all the way back to Investor Day, being disciplined as we scale.

I think we've done a nice job of that, and we'll continue to do that as we grow. We've continued to grow very nicely in higher-value modes, and that mix as a part of our business has been an important dynamic.

On so many levels, as I think about where we sit in the market, we've had some great early progress with some new programs, for example, on B2B, but man, on so many levels, we're just getting started there, so that's exciting. Then partnerships, reaching this milestone where we have almost one in three rides tagged to a partner, and what we've talked about historically holds true: those rides tend to skew more toward higher-value rides, and so again, much more work to do there as we think about our margin expansion overall, but I really like the discipline and the trajectory that we've been on.

I think it proves itself out in the numbers that we reported and where we're guiding, but those are really some of the foundational dynamics.

Oh, great. Thank you.

First question on the GB and rides growth gap, there was an 11% gap between GB growth and rides growth. How should we think about that gap in the back half of the year?

Would you expect it to close a bit? Then on AV, I thought it was interesting call-out the 20% rides growth in San Francisco in the ODD.

Just curious if you could talk about that dynamic and, kind of give us your thoughts on that. Thank you.

Yeah. Hey, John, it's David.

I'll start with that, and then Erin can pick up the gross bookings piece. Glad you noticed that, and, I guess maybe I think it sort of proves is probably too strong a word, but it underscores the thesis we have that as AVs enter the market, this will ultimately be great for rideshare in part because it'll expand the TAM.

This is one of the things we've been saying for a while. We're starting to see data that proves it, quarter after quarter after quarter.

Frankly, you hear it in the anecdotes, you hear people who say, this opens up rideshare for me in a way that maybe I didn't necessarily want to use it in the past, but doesn't necessarily take away from my daily use of rideshare. We've seen, and I'll brag another couple seconds on the team's performance, we've seen growth both in commutes, which serve all-time high, obviously, San Francisco has a big commute market, we also see huge growth on the sort of leisure side, everything from parties to gym is actually, it's really interesting, more people are taking rideshare to gyms than ever before.

Anyway, it's sort of an across-the-board growth story, which then layers on top of the AV story, and I think that they feed each other because people get used to taking rideshare, maybe their point of entry is through an AV, and then they take, you might say traditional or driver-driven rideshare back and forth. That's what we're seeing, we see it in a bunch of different places, San Francisco is the area we called out, and I think, when I look at the transformation this industry is going through, it just makes me more excited, not less, that we've got a huge kind of road ahead of us.

John, let me try to be helpful by talking a little bit about, for example, what we see as you think about gross bookings and rides, and that overall mix as we head into Q3. There are some seasonal impacts, right?

Q3 is by far our highest quarter for our bikes business, awesome business, does carry a lower average gross bookings per ride, obviously, unit economics are super strong, we love that, but it does have a mix influence as you think about that gross bookings and rides overall. For FREE NOW, we're lapping that acquisition, right?

Compared to the previous year where we had two months, we'll have the full three months, you have that dynamic. However, FREE NOW in the third quarter, sort of with the August holiday season, etc., tends to have a lower rides quarter overall.

Those tend to be higher gross bookings value, you have some of that mix effect with higher bikes, a little bit less FREE NOW happening, as you're thinking about gross bookings per ride overall. Zooming out a little bit, we provided some color commentary in our prepared remarks, it talks about rides growth in the second half and how we expect that to increase.

That's not one factor, but really across our business overall, as you think about core North America rideshare or bikes business or FREE NOW. That growth is going to come from each of those dimensions, I hope that gives you some helpful color as you're thinking about those dynamics both in Q3 and for the back half of the year.

Great, thank you for taking my question. There seems to be some consternation about the stand-alone economics of AV ownership, and the near-term implications for the P&L.

Obviously, you have the Baidu RT6 in London, can you maybe dig into the expected initial unit economics of your AV deployment there? How does it compare to sort of a standard ride, and how do you expect it to evolve over the next 12 to 24 months?

Thank you.

Let me try to set some context overall as you think about the economics and really exactly where we are in that overall effort, and obviously, David, please join in where you see fit. We're excited to be on the road, obviously with Baidu in London, a lot of efforts across teams to make that happen and getting testing on the road and mapping overall.

For where we are today, it's still a relatively small number of vehicles, the way it's showing up in our P&L is frankly pretty de minimis, and I expect it to remain so as you think about that going forward. Beyond that, we're not going to get too much into what scale looks like in unit economics, probably when we do get closer to that point in time, I think we'll have more to say, but I'm not anticipating a significant change in the near-term impact of that overall.

I think it's important to set context, obviously, safety matters, rider experience matters overall, and we're going to continue to be quite deliberate in the way that we roll out this technology in our platform. David, I don't know if you'd add anything to that.

I think that's well put. We like that the unit economics long term, and short term, not a significant change.

I just what Erin said, nothing more.

Thanks so much, two please, if I may. First, David, maybe could you talk a little bit about the opportunities beyond Nashville potentially with Waymo?

There's been some press out there around partnerships with Waymo and maybe even one of your competitors. Could you just talk about the opportunities and the opportunity set for you, and what you need to demonstrate in Nashville to kind of prove yourself as a partner there?

That's question one. Question two, maybe, Erin, you could touch on the pricing dynamics, especially in the North America rideshare market, it's continues to be really robust, could you talk about how you expect that maybe to continue into the back half or any kind of outlook you could provide?

Thank you.

Hey, Ken, I'll start. Let's talk about relationships a little bit because let's be honest, you never really know what's going on in someone else's relationship, I don't want to comment on that.

What I will say is I think Lyft is a very, very strong partner, and I want to kind of linger on this for a second because I think it's actually kind of a DNA-level issue rather than sort of a superficial issue. We keep talking about how 30% of our rides are tagged to a partner.

That is not a small thing. It's very significantly up from a couple years ago when we first started talking about it, and it continues to grow.

Why? Because what we do when we enter into a partnership is we look for partnerships where both parties benefit.

That's why we were able to expand with DoorDash to Canada, that's why the United Airlines partnership is off to such a strong start already. Quick parenthesis, this has nothing to do with your question, but I was just looking, and just with Bilt, a partner that we've been had for a while, riders have now spent 1.5 billion, billion Bilt points with us, billion Bilt points with us taking rides with us.

That's with a company, it's a very innovative company, they set very high standards, Ankur is a true innovator doing all sorts of really interesting things, but that partnership continues to evolve. Same with the Chase Sapphire partnership, same with the Chase Southwest partnership, and on and on and on.

Our Alaska Airlines partnership, my god, that's been around for a long time, that's such a successful partnership that Ben Minicucci, their CEO, has just joined our board. Much evidence that the partnerships that we start tend to flourish for both parties.

Now let's look at Nashville. In Nashville, there are two parts to the partnership: there is fleet management side, where we effectively get paid for availability, and we're quite good at this, we have a lot of expertise in that area from our years of Flexdrive.

That's going to be one of the ways we have to prove ourselves, right? The more available the units, the product, the Jaguar, the whatever it is, the better we do, both financially, but also operationally, super critical, cuz otherwise the car can't get dispatched.

Then on what we call supply-sharing. Supply-sharing, this is a new idea.

This is not a sequestered, some small number of units that are kind of dedicated 24/7 to Lyft and then another set of units that are dedicated to Waymo. No.

This is a dynamic pool that's constantly being deployed, and obviously, we're still engineering on this cuz it's quite a complex job to do this well, but constantly being deployed across the network to maximize, again, utilization, throughput, customer experience, pick-up times, all the different variables. Look, we're going to be judged on that as well: how well we do supplying demand.

Which, and then, forgive me for going on in such detail, but let's zoom out for a second. If you look at what AV readiness looks like for us, there are four big pillars, right?

There's marketplace health: how healthy is the marketplace, how healthy can we continue to make the marketplace, to oxygenate the marketplace so that AVs are being utilized, as close to 24/7 as possible? There are policy issues: in every city we go to, we have different policy issues around local safety issues or time of day issues or operational issues, all sorts of different things, we take a big role there, does our partner.

There are real estate issues, right? As we know, there's this big depot, we've got to site the depot in the right place, we've got to operate in the right place, all these different things, I can go into detail, and then obviously, there's the AV tech.

I expect we will be graded to a greater or lesser extent on all of those, particularly on the supply-sharing and the fleet operations side, those are the most direct things. We intend to be the absolute best out there.

We've said in the past that this partnership is built to scale, right? We did not do all this work just to do it in one place.

Again, let's be super clear: we're still in the very early days, and we're holding ourselves and our partner is holding us and we're holding our partner to very high standards. That was maybe more information than you really needed, but that's the sort of color on that.

All right, Ken, maybe to pivot to pricing for a second, so, it's important to understand I think a couple of things. One is, I think about current environment or maybe where things have been in 2026, I would say overall relatively stable.

If you look at Lyft in particular, obviously, earlier we were talking a little bit about gross bookings per ride, that's also going to include mix shifts. Obviously, we've been growing very quickly in higher-value modes.

We've also talked about our ads business, our chauffeuring business contributing to gross bookings, but again, those don't have an equivalent rides component to it. A few of those things sort of have an influence in that mix overall.

I think importantly, though, as we look at our portfolio, we really have a mode for every price point that supports riders exactly where they are, whether it's the bikes business, Bike to Work Week happened recently, we had a significant surge in the way that people are utilizing bikes for commute, for example, Wait & Save remains a really strong piece of our portfolio, we've talked about our growth in high-value modes, right? Delivering value really up and down that chain of modes and meeting them where we are.

I think it's also important to highlight that we're delivering value in other ways, right? We deliver value without a membership fee to our riders increasingly through partnerships.

David touched on a few of those, United has continued to scale, DoorDash has continued to scale, and that's a really important piece. Then, of course, we invest in the form of rider incentives as you think about targeting them to drive loyalty or incentivized riders to try new modes, or, as always, balance the marketplace.

If you think about that delivered value to the rider, it's coming in a lot of different forms in addition to the mode selector. I think the results kind of speak for themselves.

Obviously, record active riders number, record rides in the quarter, and really when we look at where people are going, right? It's places where it's clear to us that we say this word embedded, it's really embedded in the day-to-day life.

It's no longer sort of necessarily the special occasion, it's work, it's everyday activities, and so, we think that overall positions us well to continue to serve riders really well.

Hi, hey, thanks. It sounds like you're starting kind of the rebrand of FREE NOW, how do we think about kind of the long-term tailwinds from that?

Then just kind of near term, kind of just how rebrands can sometimes work, is there any kind of impact baked into the third quarter guide? Thanks.

I'll talk about it sort of big picture, I don't think in third quarter there's anything significant. I can actually give you some on-the-ground experience.

I was just in Europe a couple of weeks ago and experienced it myself. Here's where things stand: so, as you say, there is a rebranding effort going on.

You can see it very actively, for example, in places like Barcelona, where, and now in Dublin, and Athens, various different places where FREE NOW has particular strength, where you see quite a few of the taxi cabs saying now, "FREE NOW by Lyft." It's actually about a third of the taxi cabs right now in Barcelona alone saying "FREE NOW by Lyft" on them, and you can see them all over the city.

That's great. That starts to give people a sense of kind of who we are.

Many people actually have a sense of who Lyft is as an American innovative rideshare company, and now we're sort of starting to put it, a little bit more front and center. By next year, as we said in the prepared remarks, we expect to be fully integrated in the sense that any traveler can open up the Lyft app and be able to order a Lyft, kind of natively, let's say, on the app without having to open up a new app, and that's going to be, obviously, a big step forward for all of us.

That's still 2027. In between now and then, you'll start to see little bits and pieces on the rebranding effort, but the truth of the matter is the main action there will be once we have the product ready.

We don't really want to sort of get people excited about Lyft and then have them open up Lyft and not be able to order a product natively. I'd say that's one very, very step-by-step.

If you're interested, separately, we can talk a little bit about the back-end integration, which is quite significant to make Lyft a real true global company, and we've just made actually massive progress on that, but that's a separate thing from branding. Branding will go kind of step-by-step as the product gets ready.

Hello, good evening. I wanted to ask a question about the acceleration in the business.

Is it fair to assume directionally that the I guess 3.5% acceleration could also be reflected in the US rideshare business? Then within the US rideshare market, in the past you've spoken to some increasing competition in Wait & Save, but haven't heard about that I think probably in a couple months.

I was wondering any update for the competitive environment there. Then lastly, if you could quantify the contribution from World Cup, that would be wonderful as well, but I understand if you can't.

Thank you.

Let me jump in there, and maybe I'll take them in reverse order. We made some comments in our prepared remarks, across certain of our cities, where World Cup showed up, increasing airport rides, some increasing local trips.

What I'd say about this is, Lyft is great at events, right? You think about major event, Coachella, we've got Outside Lands coming up in San Francisco soon, we rally around these things.

I think World Cup was another event where we rallied around, delivered great services, but I put it in the category of similar to how we handle other major events and show up for our customers. As I think about Wait & Save overall, I mentioned a little bit earlier in the call, remains a really important part of our overall portfolio.

Customers continue to engage with the product overall, it definitely serves its purpose where you're willing to trade off price for time, I wouldn't highlight any meaningful changes there as I think about our overall business, or the way customers are engaging with that feature, that mode in particular. Then I think your first question, I'll kind of go back to what I said.

We gave some color commentary about the back half rides in our prepared remarks, and I'll just reiterate that we see that across our bikes business, our North America rideshare business, our FREE NOW business. Not excluding anything here, we're seeing that dynamic across each of those areas.

Hi, thanks for taking the question, appreciate it. Given the improving outlook for rides you've talked about, and even your competitor has talked about, would hope to hear a little bit more about how you feel on just driver supply as you think about the balance of the year.

Do you feel like the industry is adequately supplied to keep up with this level of improving growth? Maybe can you talk to any of the investments you intend to make to help bridge that gap if needed as well?

Thank you.

Hey, Nikhil, it's David. We feel great about the driver supply, and I actually would maybe zoom out and say feel great about the relationship that we have with drivers and vice versa.

Let's start with that. This is something that maybe over the last 3 years since Erin and I started here really made a very focused investment on in terms of energy, not just dollars, of making sure that people understand there are two customers in every car: a rider and a driver.

What have been the results? Some of the ways we've made those investments: we now have a 30% fee cap, which you probably know what that's all about.

We have a great driver rewards program that we launched earlier this year. I actually just got new data about that: it's paid out $14 million so far to drivers, a bunch of that co-funded, by the way, which is wonderful.

We've made real investments in the driver supply and the health of the driver community, I would more characterize it that way, over the last couple years and even this year. What's the result?

The result is we have very strong supply right now, sort of in the top strongest ever type thing, and that's both in terms of number of active drivers on the platform as well as driver hours. By the way, driver earnings are effectively at an all-time high.

These things are always tricky to kind of measure, but if we kind of look at it, certainly again since Erin and I started, they're at the highest ever, up I think 8% per ride year on year. Side point: tipping is also up 10%, which is wonderful, and that's, I think, a reflection of great service being driven by the drivers on the Lyft platform.

All of those things kind of give us a lot of hope and sort of early indication that our driver supply will continue to be good. Last question that you didn't ask, but I'm going to answer anyway is you might say, well, how do you compare to the competition?

I am pleased to say that right now we have about a 30-point preference gap. When you ask drivers who are drive on multiple platforms, which of the two major platforms do you prefer to drive on, we have over 50% of people say they like us, and there's a much, much smaller number of people who say they prefer the other guys.

That's nice too, right? I don't mind being competitive with those guys cuz it's sort of good for the whole industry to be, to kind of fight over your drivers a little bit, and I think we're doing a nice job, I would say, winning that fight.

Hey, this is Andrew on for Shweta. Thanks for taking the question.

I want to follow up on partnerships more broadly. As you look at the portfolio of partnerships today, how are you thinking about the incremental opportunity from deepening existing partnerships versus adding new ones?

Then where do you see kind of the most untapped runway?

Thanks for the question, Andrew. I think yeah, we would prioritize and are prioritizing deepening our existing partnerships, and it's because they're so kind of untapped in so many ways.

Look, maybe I'll make a general statement that's specific. The general statement I'd make is there's so much innovation left in this space.

Again, yeah, gosh, 160 million 300 call it 300 million rides that people are taking in their private car every year, and between us and our big competitor, it's 3 or 4 billion, maybe more, that's in North America, I don't know, 6 or 7 billion, something like that, across the world. Every one of the other ones, the product isn't yet good enough, or the partnership isn't yet strong enough with the partner that's going to make the ride relevant or whatever it is.

There's so much general opportunity in the rideshare space, and certainly, we think we're doing very well and very well positioned there. Then within the partnership place, DoorDash, we just expanded to Canada, but gosh, there's a lot more white space out there.

The Chase partnerships, we just renegotiated and relaunched our Chase Sapphire Reserve program a couple months ago, it's about 6 months ago now, and it's been completely reinvigorated thanks to the 5x points, and the $10 a month. They just added the Chase Southwest kind of benefit as well, the Southwest credit card benefit as well, in a different portfolio, and on and on and on.

Each one of the partnerships we have, we think we're sort of in early days. I'll get back to the earlier point I was making: I think partnership and being a good partner is in our DNA, and we're seeing that with our partners that they want more from us and vice versa, and I mean more in the most positive way possible, they want to deepen the partnership and go even bigger.

I don't think I'm getting ahead of myself by saying I think there'll be some really more interesting news over time with our existing partners, and stay tuned for that.

As always, thank you so much for your time today, for following us so closely, your continued interest in Lyft. We are firing on all cylinders, and super excited for a strong year in the company and strong times ahead.

Thanks again, and we will see you all next time.