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The projection is based on adjusted earnings, before accounting for interest, taxes, depreciation and amortization. If successful, the company will be profitable a year sooner than what analysts expected. Lyft’s stock was up 5.16 per cent on the news in late afternoon trading, and rival Uber was up 3.50 per cent. (Wall Street Journal)

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Talking point: Public markets have been ramping up pressure on recent unicorns to deliver profits. Lyft is among a host of new public companies, including Uber and Slack, that have seen their massive valuations drop after going public. Investors have criticized their slow paths to profitability as the companies, used to generous venture capital funding, continue to burn cash and accumulate losses. “We need to build trust with a new class of investors and with two quarters beating expectations, we’re excited for the next few quarters,” said John Zimmer, the company’s co-founder and president. While Uber’s stock price also rose on Lyft’s news, the ride-hailing leader hasn’t yet said when it expects to turn a profit.

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A US$250,000 ticket for a rocket ride to the edge of Earth’s atmosphere also gets you a customized one-piece flight suit akin to those worn by characters in Star Trek, plus a training suit, jacket, boots and special underwear. Athletic apparel maker Under Armour designed the outfit, unveiled Wednesday by Virgin Group founder Richard Branson at an event that featured dancers in a skydiving chamber demonstrating the garments’ flexibility. (CNBC)

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Talking point: Branson told reporters he believes “the whole experience of going to space should be sexy.” For the high price, which will get passengers about 10 minutes of weightlessness, it needs to be. Though Virgin’s progress is years behind schedule, it said it is now in the late stages of testing its spacecraft, and expects to begin commercial flights next year. As of June, it claimed a waiting list of over 600 customers. Virgin Galactic is also anticipated to be the first company of its kind to go public, with a listing on the New York Stock Exchange expected before year’s end. A March report from UBS estimated the space tourism sector could be worth US$3 billion by 2030.

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Revenue for cinemas, drive-in theatres and film festivals increased 5.7 per cent from 2016 to 2018, according to new data from Statistics Canada. (The Logic)

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Talking point: Movie theatres are using a combination of technology and elbows-up conflict with streaming giants to keep revenue high. E-commerce sales hit 19.4 per cent, up from 14.6 per cent in 2016. Although the number of paid admissions dropped 4.2 per cent, total box office sales were up 1.0 per cent, partially on higher ticket prices for experiences like IMAX and 3D. Meanwhile, some of the largest movie theatre chains—including AMC, Regal, Cinemark and Cineplex—have refused to screen Netflix films, a fight that came to a head this month when Cineplex declined to screen Amazon or Netflix films during TIFF. Not all Canadian movie theatres are pushing back against the tech giants, however. Titles from Amazon and Netflix are being shown at Toronto’s TIFF Bell Lightbox, instead.

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The Ottawa-headquartered commerce giant brought in US$362 million in sales, up 47.7 per cent from the same period in 2018, and above its US$350-million top-end prediction made in April. The company said it expects revenues of between US$1.51 billion and US$1.53 billion in 2019, up US$300 million from its forecast last quarter. (The Logic)

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Talking point: While Shopify is expecting a revenue boost, the loss-making firm is not promising it’ll get closer to profitability as a result. That’s partly because it’s planning to speed up its spending on a $1-billion network of U.S. warehouses and artificial-intelligence tools that its merchants can use to predict how much to stock in different parts of the country, and deliver most products to consumers within two days. CFO Amy Shapero said demand for early access to the program has been “much stronger than anticipated” since the firm announced it in June. She did not provide merchant enrollment numbers. The firm’s consolidated warehouse option for sellers, and its faster-delivery goal, mirror those of e-commerce giant Amazon. Shopify won’t use its merchants’ transaction data it collects to launch competing retail brands of its own, CEO Tobi Lütke said on Thursday; in September 2018, European Competition Commissioner Margrethe Vestager said she was looking into allegations of similar behaviour by Amazon.

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The point-of-sale company brought in $77.5 million in revenue in its 2019 fiscal year, which ended on March 31, a 36 per cent increase over the previous year. Fourth-quarter sales grew to $21.3 million, compared to $15.7 million in fiscal 2018. The Montreal-based firm also announced the previously-undisclosed acquisition of Chronogolf, a club- and course-management tool based on Lightspeed’s platform. The stock rose 13.78 per cent by late Friday trading. (The Logic)

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Talking point: The growth was driven by an increase in the number of merchants using Lightspeed in their stores and restaurants, from 41,000 in fiscal 2018 to 49,000 in fiscal 2019. That’s a bigger jump than each of the two previous years. The company had a strong year in North America, with U.S. and Canada sales remaining steady at 69.5 per cent, compared to 70.0 per cent the previous year. But growth outside the company’s home base could soon pick up. As my colleague Zane reported earlier in May, Lightspeed is looking to recruit salespeople in the U.K., the Netherlands and Belgium, as well as a business development representative in Australia.

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The social media giant exceeded analysts’ consensus estimates on earnings, revenue, and active users. The company’s shares rose in after-hours trading. The company reported US$16.91 billion in revenue, well above the US$16.39 billion estimated by some analysts. (CNBC)

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Talking point: The overperformance isn’t a surprise—Facebook missed consensus revenue estimates in the last two quarters, but exceeded them for the 10 before that, according to Goldman Sachs. That’s despite the company facing criticism for its handling of users’ security and privacy concerns over the last year; in July 2018, it said it expected sales growth rates to slow as it focused on privacy. And, despite campaigns exhorting users to quit the platform, both daily and monthly active users rose quarter-over-quarter.

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Kansas City will receive 150 electric bikes tomorrow, according to a press release from Drop Mobility. This is the first U.S. market for the company, which currently has contracts with the City of Kingston, Ont. and the University of British Columbia.(The Logic)

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Talking point: Drop Mobility offers electric bikes halfway in between Lime and Jump Bikes, which can be parked anywhere, and Bixi (in Montreal), which can only be parked in specially-designated docks. Drop’s bikes can be locked to any bike rack, but can’t be left just anywhere. Unlike rivals, Drop Mobility prefers regions where it has a monopoly. That avoids the high-cost wars companies have faced in cities like San Francisco, where attempts to undercut one other on price to build loyalty have cut into short-term profitability. That focus makes it harder for Drop to scale as quickly as competitors. That said, this U.S. entry opens up a whole new market for it.

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Gross domestic product increased by an annualized rate of 1.3 per cent. Statistics Canada also dropped its measure of second-quarter growth to 3.5 per cent, from the 3.7 per cent it announced in August, and upped the first-quarter number to 0.8 per cent from 0.4 per cent. (The Logic, Reuters)

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Talking point: GDP growth was slightly above analysis consensus’ estimates of 1.2 per cent, according to market data platform Refinitiv, and in line with the Bank of Canada’s forecast. The slowdown follows the highest-growth quarter in two years, driven mostly by an increase in overseas sales of natural resources, agricultural products and aircraft. The third quarter saw exports drop 0.4 per cent, but trade stagnation was balanced by increases in domestic demand, including a 1.6 per cent rise in household consumption, and a 9.5 per cent jump in business investment on non-residential buildings and machinery.

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The country jumped one spot in the annual rankings put out by Philadelphia-based research firm Clarivate Analytics, which looks at researchers who have published multiple papers that are in the top one per cent for citations in their field. The University of British Columbia had 33 top academics, the in the country. (The Logic)

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Talking point: Though the United States remains far and away the dominant country, taking first place with 44 per cent of the researchers on the list, China climbed to second with 10.2 per cent. Both Canada and China—which overtook the United Kingdom and the Netherlands, respectively—have made innovation policy the centrepieces of their current government initiatives. But while Clarivate’s list measures researchers’ success in getting cited, it doesn’t measure economic benefit, which is the underlying goal for both governments.