09:24 AM EDT, 06/06/2024 (MT Newswires) -- Lyft ( LYFT ) said Thursday it expects a gross bookings compound annual growth rate of about 15% from full-year 2024 to full-year 2027.

The target was released as part of the company's first investor day, which is taking place Thursday.

The company said it expects an adjusted EBITDA margin -- measured as a percentage of gross bookings -- of about 4% on a full-year basis in 2027.

It also expects free cash flow conversion, measured as a percentage of adjusted EBITDA, of over 90% annually each year from 2025 to 2027.

The company also said there are no changes to its previously released guidance for Q2 or to its directional commentary for full-year 2024.

Lyft ( LYFT ) shares were rising past 8% in recent pre-market trading.

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