CEO Logan Green earnings call opening statement.
Good afternoon, everyone and thank you for joining our call today. Q3 marks the third quarter in a row of outstanding performance since becoming a publicly traded company. Revenue grew 63% year over year. Active Riders grew 28%. Revenue per Active Rider grew 27%. Contribution margin was at a record high over 50%. Our top line momentum and our success with strategic initiatives in our core operations led to a 32 percentage point improvement and adjusted EBITDA margin year over year.
Our third quarter results demonstrated the significant progress Lyft has made on our path to profitability. Record revenue was generated by strong growth in both Active Riders and Revenue per Active Rider as we continue to increase engagement through product innovation and execution. Our continued focus on consumer transportation is yielding meaningful improvements in monetization and strong operating leverage. As a result of the continued strength of our execution, we are updating our outlook for 2019. Importantly, we now expect to be profitable on an Adjusted EBITDA basis in the fourth quarter of 2021.
Break above $49 with $56 possible target zone.
Short interest 8.88%
Average analysts recommendation Overweight | $69 price target.
Good afternoon, everyone and thank you for joining our call today. Q3 marks the third quarter in a row of outstanding performance since becoming a publicly traded company. Revenue grew 63% year over year. Active Riders grew 28%. Revenue per Active Rider grew 27%. Contribution margin was at a record high over 50%. Our top line momentum and our success with strategic initiatives in our core operations led to a 32 percentage point improvement and adjusted EBITDA margin year over year.
Our third quarter results demonstrated the significant progress Lyft has made on our path to profitability. Record revenue was generated by strong growth in both Active Riders and Revenue per Active Rider as we continue to increase engagement through product innovation and execution. Our continued focus on consumer transportation is yielding meaningful improvements in monetization and strong operating leverage. As a result of the continued strength of our execution, we are updating our outlook for 2019. Importantly, we now expect to be profitable on an Adjusted EBITDA basis in the fourth quarter of 2021.
Break above $49 with $56 possible target zone.
Short interest 8.88%
Average analysts recommendation Overweight | $69 price target.