Lyft had a record May, completing 12.7 million rides in the month, according to a leaked investor update viewed by Business Insider.
Despite having a record May, Lyft cautioned its investors that its ride volume would stay flat or possibly dip lower thanks to the “headwinds” of college students going home for the summer and its retreat from Austin. Even with the slow down, the company said that it plans to be on track to beat its projected growth by 35%.
At that pace, the ride-hailing company said the net value of its rides is on track for a nearly $1.9 billion run rate.
Here are some of its latest numbers from its May update:
- Q2 ride volume: expected to beat by approximately 35%
- Loss: Not expected to increase above board’s budget
- Monthly ride volume: increased by nearly 1.3 million MUM. 12.7 million (new record in May) — run rate would be 152 million for year
- Net ride value: ~ $1.9 billion run rate (new record in May)
- 100% paid rides: increased 5% from April. 2016 so far has already exceeded all of 2015 for paid rides
- 14 markets are doing more than 300K rides in May, compared to two last year
- 2.8 million unique passengers in May (another record) and 320K more than April’s
- Rides per active passenger increased by nearly 25% YOY
Business Insider Emails & Alerts
Site highlights each day to your inbox.