Lyft, Inc. (LYFT) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

from partnership tagged rides, rider requests. So about 27%. That's a big deal. I think when we first started talking about this, we were 20%, then 22, then 25, and 27. Why? Two reasons. Number one, we partner with great organizations that have huge TAMs. If you look at some of our most recent ones, of course, DoorDash is still only about a year and a half old. United is more recent. Even Southwest Airlines through their credit card program. These are enormous programs. They represent a huge opportunity for us to acquire new customers. Now, Those, I'll come back to frequency in a second. Those customers are different, right? So for example, DoorDash customers tend to be very heavy users and you can understand this, right? People eat three times a day and they tend to take rides relatively more often than others. So you saw us obviously complete, you know, double down on that partnership by expanding that to Canada. Okay, you look at United Airlines. United Airlines is kind of a different vibe, right? They tend to be more business customers. We out-index in some of United's big hubs, Chicago being a good example where we had great growth this past year. They tend to be airport rides, not surprisingly, which means higher bookings per ride, which tends to mean higher profits. So that's wonderful. How do we reward United customers? Well, we give them miles, which they've done for years now. I think we're over 350 million miles awarded right around there. That's a big deal. And then a couple of weeks ago, we announced pay with miles, which is amazing. I mean, that's literally, I don't know how many billions of miles are. hundreds of millions, maybe United has banked, but this allows United Mileage Plus customers to pay with their miles on lift. And that's wonderful. It's ...