Business
Lyft Announces Record Fourth Quarter and Fiscal Year Results
Surpasses $1 billion in quarterly revenue, up 52% year-over-yearFiscal 2019 revenue of $3.6 billion up 68% year-over-year Issues outlook for fiscal 2020 SAN
About this update from Lyft, Inc.
[{"type":"text","content":"Surpasses $1 billion in quarterly revenue, up 52% year-over-yearFiscal 2019 revenue of $3.6 billion up 68% year-over-year Issues outlook for fiscal 2020\n SAN FRANCISCO, Feb. 11, 2020 (GLOBE NEWSWIRE) -- Lyft, Inc. (Nasdaq:LYFT) today announced financial results for its fourth quarter and fiscal year ended December 31, 2019. Fourth Quarter 2019 Financial Highlights Lyft reported Q4 2019 revenue of $1,017.1 million versus $669.5 million in the fourth quarter of 2018, an increase of 52 percent year-over-year. Net loss for Q4 2019 was $356.0 million versus a net loss of $248.9 million in the same period of 2018. Net loss for Q4 includes $207.3 million of stock-based compensation and related payroll tax expenses, as well as $18.8 million related to changes to the liabilities for insurance required by regulatory agencies attributable to historical periods. Net loss margin for Q4 was 35.0 percent and 37.2 percent in the fourth quarter of 2018.Adjusted net loss for Q4 2019 was $121.4 million versus an adjusted net loss of $238.5 million in the fourth quarter of 2018. Adjusted net loss is adjusted for amortization of intangible assets, stock-based compensation expense, payroll tax expense related to stock-based compensation, changes to the liabilities for insurance required by regulatory agencies attributable to historical periods, and expenses related to acquisitions. Lyft reported Contribution for Q4 2019 of $549.5 million versus $304.7 million in the fourth quarter of 2018, up 80 percent year-over-year. Contribution Margin for Q4 increased to 54.0 percent from 45.5 percent in the fourth quarter of 2018.Adjusted EBITDA Loss for Q4 2019 was $130.7 million versus $251.1 million in the fourth quarter of 2018. Adjusted EBITDA Loss Margin for Q4 was 12.9 percent versus 37.5 percent in the fourth quarter of 2018. Fiscal Year 2019 Financial Highlights Lyft reported fiscal year 2019 revenue of $3.6 billion versus $2.2 billion in fiscal year 2018, an increase of 68 percent year-over-year.Net loss for fiscal year 2019 was $2.6 billion versus a net loss of $0.9 billion in fiscal year 2018. Net loss for fiscal year 2019 includes $1.6 billion of stock-based compensation and related payroll tax expenses, as well as $270.3 million related to changes to the liabilities for insurance required by regulatory agencies attributable to historical periods. ...