Lyft Announces First Quarter Results

First quarter revenue of $609.0 million grew 7% quarter-over-quarter
Strong Q1 results reflect ongoing recovery & exceeded outlook

SAN FRANCISCO--()--Lyft, Inc. (Nasdaq:LYFT) today announced financial results for its first quarter ended March 31, 2021.

“The improvements we’ve made over the last year are paying off - we’ve built a much stronger business. As the recovery continues, we are confident that we will be able to deliver strong financial results” said Logan Green, co-founder and chief executive officer of Lyft. “We expect to build a significantly larger company by attacking the trillion dollar plus market opportunity in front of us.”

“We had an exceptionally strong Q1 as more people started moving again. Our results meaningfully exceeded our outlook driven by elevated demand across our network,” said Brian Roberts, chief financial officer of Lyft.

“With the pending sale of our Level 5 self-driving division, Lyft is set up to win the transition to autonomous through our hybrid network of human drivers and AVs, advanced marketplace tech, and leading fleet management capabilities,” said John Zimmer, co-founder and president of Lyft.

First Quarter 2021 Financial Highlights

  • Lyft reported Q1 revenue of $609.0 million versus $955.7 million in the first quarter of 2020, a decrease of 36 percent year-over-year, but an increase of 7 percent from $569.9 million in the fourth quarter of 2020.
  • Net loss for Q1 2021 was $427.3 million versus a net loss of $398.1 million in the same period of 2020. Net loss for Q1 includes $180.7 million of stock-based compensation and related payroll tax expenses and $128.0 million related to changes to the liabilities for insurance required by regulatory agencies attributable to historical periods. Net loss margin for Q1 was 70.2 percent compared to 41.7 percent in the first quarter of 2020.
  • Adjusted net loss for Q1 2021 was $114.1 million versus an adjusted net loss of $97.4 million in the first quarter of 2020.
  • Lyft reported Contribution for Q1 2021 of $337.3 million versus $547.4 million in the first quarter of 2020, down 38 percent year-over-year but up 7 percent from $316.0 million in Q4 2020. Contribution Margin for Q1 2021 was 55.4 percent, which was down by 1.9 percentage points year-over-year but down by just 10 basis points quarter-over-quarter. Contribution Margin for Q1 2021 exceeded the Company's outlook of 51 to 51.5 percent1.
  • Adjusted EBITDA loss for Q1 2021 was $73.0 million, an improvement of $12.2 million compared to the first quarter of 2020 and an improvement of $77.0 million compared to the fourth quarter of 2020. The Adjusted EBITDA loss for Q1 2021 was approximately $62 million better than the Company's most recent outlook for its Adjusted EBITDA loss2. Adjusted EBITDA loss margin for Q1 2021 was 12.0 percent versus 8.9 percent in the first quarter of 2020 and versus 26.3 percent in the fourth quarter of 2020.
  • Lyft reported $2.2 billion of unrestricted cash, cash equivalents and short-term investments at the end of the first quarter of 2021.

1 Company outlook for Contribution Margin for the first quarter of 2021 as reported during the fourth quarter 2020 Financial Results Earnings Call on February 9, 2021.
2 Company outlook for Adjusted EBITDA loss for the first quarter of 2021 was $135 million as reported on Form 8-K filed March 2, 2021.

 

 

Active Riders

 

Revenue per Active Rider

 

 

2021

 

2020

 

YoY Growth Rate

 

2021

 

2020

 

YoY Growth Rate

 

 

(in thousands, except for dollar amounts and percentages)

Three Months Ended March 31

 

13,494

 

 

21,211

 

 

(36.4)%

 

$45.13

 

$45.06

 

0.2%

Three Months Ended June 30

 

 

 

8,688

 

 

 

 

 

 

$39.06

 

 

Three Months Ended September 30

 

 

 

12,513

 

 

 

 

 

 

$39.94

 

 

Three Months Ended December 31

 

 

 

12,552

 

 

 

 

 

 

$45.40

 

 

   

Webcast
Lyft will host a webcast today at 1:30 p.m. Pacific Time (4:30 p.m. Eastern Time) to discuss these financial results and business highlights. To listen to a live audio webcast, please visit the Company’s Investor Relations page at https://investor.lyft.com/. The archived webcast will be available on the Company’s Investor Relations page shortly after the call.

About Lyft
Lyft was founded in 2012 and is one of the largest transportation networks in the United States and Canada. As the world shifts away from car ownership to transportation-as-a-service, Lyft is at the forefront of this massive societal change. Our transportation network brings together rideshare, bikes, scooters, car rentals and transit all in one app. We are singularly driven by our mission: to improve people’s lives with the world’s best transportation.

Available Information
Lyft announces material information to the public about Lyft, its products and services and other matters through a variety of means, including filings with the Securities and Exchange Commission, press releases, public conference calls, webcasts, the investor relations section of its website (investor.lyft.com), its Twitter accounts (@lyft and @Lyft_Comms), and its blogs (including: lyft.com/blog, lyft.com/hub, eng.lyft.com, medium.com/lyftself-driving, medium.com/sharing-the-ride-with-lyft and medium.com/@johnzimmer) in order to achieve broad, non-exclusionary distribution of information to the public and for complying with its disclosure obligations under Regulation FD.

Forward Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements generally relate to future events or Lyft's future financial or operating performance. In some cases, you can identify forward looking statements because they contain words such as "may," "will," "should," "expects," "plans," "anticipates,” “going to,” "could," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "potential" or "continue" or the negative of these words or other similar terms or expressions that concern Lyft's expectations, strategy, priorities, plans or intentions. Forward-looking statements in this release include, but are not limited to, Lyft’s beliefs regarding its financial position and operating performance, including the effect of the COVID-19 pandemic and the timing of recovery, and the related impact on Lyft’s business, financial position and Lyft’s future profitability and timing for achievement of profitability, as well as Lyft’s proposed sale of its Level 5 self-driving division and strategic objectives. Lyft’s expectations and beliefs regarding these matters may not materialize, and actual results in future periods are subject to risks and uncertainties that could cause actual results to differ materially from those projected, including risks related to the impact of the COVID-19 pandemic on our business and operations, including business and government responses thereto, and risks regarding our ability to forecast our performance due to our limited operating history and the COVID-19 pandemic. The forward-looking statements contained in this release are also subject to other risks and uncertainties, including those more fully described in Lyft's filings with the Securities and Exchange Commission (“SEC”), including in our Annual Report on Form 10-K for the full year 2020 and in our Quarterly Report on Form 10-Q that will be filed with the SEC by May 10, 2021. The forward-looking statements in this release are based on information available to Lyft as of the date hereof, and Lyft disclaims any obligation to update any forward-looking statements, except as required by law.

A Note About Metrics

Lyft defines Active Riders as all riders who take at least one ride during a quarter where the Lyft Platform processes the transaction. An Active Rider is identified by a unique phone number. If a rider has two mobile phone numbers or changed their phone number and such rider took rides using both phone numbers during the quarter, that person would count as two Active Riders. If a rider has a personal and business profile tied to the same mobile phone number, that person would be considered a single Active Rider. If a ride has been requested by an organization using our Concierge offering for the benefit of a rider, we exclude this rider in the calculation of Active Riders, unless the ride is accessible in the Lyft App.

Beginning in the fourth quarter of 2020, some riders were able to access their Concierge rides in the Lyft App if they already had a Lyft account. Accordingly, Lyft updated the definition of Active Riders to include Concierge riders if the rider’s phone number matches that of a verified Lyft account, allowing the rider to access their ride in the Lyft App. This update resulted in a 0.01% increase, or an additional 927 Active Riders in the fourth quarter of 2020. Prior to the fourth quarter of 2020, all Concierge riders were excluded from the calculation of Active Riders as Concierge rides could not be matched with verified rider accounts.

Non-GAAP Financial Measures

To supplement Lyft's financial information presented in accordance with generally accepted accounting principles in the United States of America, or GAAP, Lyft considers certain financial measures that are not prepared in accordance with GAAP, including Adjusted Net Loss, Contribution, Contribution Margin, Adjusted EBITDA and Adjusted EBITDA Margin. Lyft defines Adjusted Net Loss as net loss adjusted for amortization of intangible assets, stock-based compensation expense (net of any benefit), payroll tax expense related to stock-based compensation, changes to the liabilities for insurance required by regulatory agencies attributable to historical periods, and restructuring charges, as well as, if applicable, costs related to the transfer of certain legacy auto insurance liabilities and cost related to acquisitions; Lyft defines Contribution as revenue less cost of revenue, adjusted to exclude the following items from cost of revenue: 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 restructuring charges, as well as, if applicable, costs related to the transfer of certain legacy auto insurance liabilities; Lyft defines Contribution Margin for a period as Contribution for the period divided by Revenue for the same period. Lyft defines Adjusted EBITDA as net loss adjusted to exclude interest expense, other income (expense), net, provision for income taxes, depreciation and amortization, 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, as well as, if applicable, restructuring charges, costs related to acquisitions and costs related to the transfer of certain legacy auto insurance liabilities. Adjusted EBITDA Margin is calculated by dividing Adjusted EBITDA for a period by revenue for the same period.

In April 2020 and November 2020, we announced restructuring efforts to reduce operating expenses and adjust cash flows in light of the ongoing economic challenges resulting from the COVID-19 pandemic and its impact on our business. We believe the costs associated with the restructuring do not reflect performance of our ongoing operations. We believe the adjustment to exclude the costs related to restructuring from Contribution, Adjusted EBITDA and Adjusted Net Loss is useful to investors by enabling them to better assess our ongoing operating performance and provide for better comparability with our historically disclosed Contribution, Adjusted EBITDA and Adjusted Net Loss amounts.

Lyft records historical changes to liabilities for insurance required by regulatory agencies for financial reporting purposes in the quarter of positive or adverse development even though such development may be related to claims that occurred in prior periods. For example, if in the first quarter of a given year, the cost of claims or our estimates for our cost of claims grew by $1 million for claims related to the prior fiscal year or earlier, the expense would be recorded for GAAP purposes within the first quarter instead of in the results of the prior period. Lyft believes these prior period changes to insurance liabilities do not illustrate the current period performance of Lyft’s ongoing operations since these prior period changes relate to claims that could potentially date back years. Lyft has limited ability to influence the ultimate development of historical claims. Accordingly, including the prior period changes would not illustrate the performance of Lyft’s ongoing operations or how the business is run or managed by Lyft. For consistency, Lyft does not adjust the calculation of Adjusted Net Loss, Contribution and Adjusted EBITDA for any prior period based on any positive or adverse development that occurs subsequent to the quarter end. Lyft believes the adjustment to exclude the historical changes to liabilities for insurance required by regulatory agencies from Adjusted Net Loss, Contribution and Adjusted EBITDA is useful to investors by enabling them to better assess Lyft’s operating performance in the context of current period results.

Lyft uses Adjusted Net Loss, Contribution, Contribution Margin, Adjusted EBITDA and Adjusted EBITDA Margin in conjunction with GAAP measures as part of Lyft’s overall assessment of its performance, including the preparation of Lyft’s annual operating budget and quarterly forecasts, to evaluate the effectiveness of Lyft’s business strategies, and to communicate with Lyft’s board of directors concerning Lyft’s financial performance. Adjusted Net Loss, Contribution and Contribution Margin are measures used by our management to understand and evaluate our operating performance and trends. Lyft believes Contribution and Contribution Margin are key measures of Lyft’s ability to achieve profitability and increase it over time. Adjusted Net Loss, Adjusted EBITDA and Adjusted EBITDA Margin are key performance measures that Lyft’s management uses to assess Lyft’s operating performance and the operating leverage in Lyft’s business. Because Adjusted EBITDA and Adjusted EBITDA Margin facilitate internal comparisons of our historical operating performance on a more consistent basis, Lyft uses these measures for business planning purposes.

Lyft’s definitions may differ from the definitions used by other companies and therefore comparability may be limited. In addition, other companies may not publish these or similar metrics. Furthermore, these metrics have certain limitations in that they do not include the impact of certain expenses that are reflected in our consolidated statement of operations that are necessary to run our business. Thus, Adjusted Net Loss, Contribution, Contribution Margin, Adjusted EBITDA and Adjusted EBITDA Margin should be considered in addition to, not as substitutes for, or in isolation from, measures prepared in accordance with GAAP.

Lyft, Inc.

Condensed Consolidated Balance Sheets

(in thousands, except for share and per share data)

(unaudited)

   

 

 

March 31,

 

December 31,

 

 

2021

 

2020

Assets

 

 

 

 

Current assets

 

 

 

 

Cash and cash equivalents

 

$

312,230

 

 

$

319,734

 

Short-term investments

 

1,925,090

 

 

1,931,334

 

Prepaid expenses and other current assets

 

343,666

 

 

343,070

 

Total current assets

 

2,580,986

 

 

2,594,138

 

Restricted cash and cash equivalents

 

183,556

 

 

118,559

 

Restricted investments

 

940,415

 

 

1,101,712

 

Other investments

 

10,700

 

 

10,000

 

Property and equipment, net

 

308,405

 

 

313,297

 

Operating lease right-of-use assets

 

260,877

 

 

275,756

 

Intangible assets, net

 

61,282

 

 

65,845

 

Goodwill

 

182,693

 

 

182,687

 

Other assets

 

16,930

 

 

16,970

 

Total assets

 

$

4,545,844

 

 

$

4,678,964

 

Liabilities, Redeemable Convertible Preferred Stock and Stockholders’ Equity

 

 

 

 

Current liabilities

 

 

 

 

Accounts payable

 

$

69,861

 

 

$

84,108

 

Insurance reserves

 

1,058,416

 

 

987,064

 

Accrued and other current liabilities

 

1,038,369

 

 

954,008

 

Operating lease liabilities — current

 

54,203

 

 

49,291

 

Total current liabilities

 

2,220,849

 

 

2,074,471

 

Operating lease liabilities

 

252,026

 

 

265,803

 

Long-term debt, net of current portion

 

651,637

 

 

644,236

 

Other liabilities

 

12,470

 

 

18,291

 

Total liabilities

 

3,136,982

 

 

3,002,801

 

Stockholders’ equity

 

 

 

 

Preferred stock, $0.00001 par value; 1,000,000,000 shares authorized as of March 31, 2021 and December 31, 2020; no shares issued and outstanding as of March 31, 2021 and December 31, 2020

 

 

 

 

Common stock, $0.00001 par value; 18,000,000,000 Class A shares authorized as of March 31, 2021 and December 31, 2020; 320,510,647 and 314,934,487 Class A shares issued and outstanding, as of March 31, 2021 and December 31, 2020, respectively; 100,000,000 Class B shares authorized, 8,802,629 Class B shares issued and outstanding, as of March 31, 2021 and December 31, 2020

 

3

 

 

3

 

Additional paid-in capital

 

9,136,881

 

 

8,977,061

 

Accumulated other comprehensive income (loss)

 

(255

 

(473

Accumulated deficit

 

(7,727,767

 

(7,300,428

Total stockholders’ equity

 

1,408,862

 

 

1,676,163

 

Total liabilities and stockholders’ equity

 

$

4,545,844

 

 

$

4,678,964

 

Lyft, Inc.

Condensed Consolidated Statements of Operations

(in thousands, except for per share data)

(unaudited)

 

 

 

Three Months Ended March 31,

 

 

2021

 

2020

Revenue

 

$

608,960

 

 

$

955,712

 

Costs and expenses

 

 

 

 

Cost of revenue

 

 

412,039

 

 

 

542,419

 

Operations and support

 

 

88,931

 

 

 

133,782

 

Research and development

 

 

238,218

 

 

 

258,739

 

Sales and marketing

 

 

78,620

 

 

 

196,437

 

General and administrative

 

 

207,594

 

 

 

238,440

 

Total costs and expenses

 

 

1,025,402

 

 

 

1,369,817

 

Loss from operations

 

 

(416,442

)

 

 

(414,105

)

Interest expense

 

 

(12,568

)

 

 

(1,507

)

Other income, net

 

 

3,605

 

 

 

19,169

 

Loss before income taxes

 

 

(425,405

)

 

 

(396,443

)

Provision for income taxes

 

 

1,934

 

 

 

1,630

 

Net loss

 

$

(427,339

)

 

$

(398,073

)

Net loss per share, basic and diluted

 

$

(1.31

)

 

$

(1.31

)

Weighted-average number of shares outstanding used to compute net loss per share, basic and diluted

 

 

326,165

 

 

 

304,502

 

Stock-based compensation included in costs and expenses:

 

 

 

 

Cost of revenue

 

$

8,450

 

 

$

9,724

 

Operations and support

 

 

4,888

 

 

 

4,133

 

Research and development

 

 

95,590

 

 

 

95,548

 

Sales and marketing

 

 

7,963

 

 

 

4,750

 

General and administrative

 

 

47,338

 

 

 

45,823

 

Lyft, Inc.

Condensed Consolidated Statements of Cash Flows

(in thousands)

(unaudited)

 

 

 

Three Months Ended March 31,

 

 

2021

 

2020

Cash flows from operating activities

 

 

 

 

Net loss

 

$

(427,339

)

 

$

(398,073

)

Adjustments to reconcile net loss to net cash used in operating activities

 

 

 

 

Depreciation and amortization

 

 

34,449

 

 

 

35,474

 

Stock-based compensation

 

 

164,229

 

 

 

159,978

 

Amortization of premium on marketable securities

 

 

1,542

 

 

 

486

 

Accretion of discount on marketable securities

 

 

(361

)

 

 

(7,826

)

Amortization of debt discount and issuance costs

 

 

8,471

 

 

 

 

Loss on sale and disposal of assets, net

 

 

289

 

 

 

3,228

 

Other

 

 

2,881

 

 

 

87

 

Changes in operating assets and liabilities, net effects of acquisition

 

 

 

 

Prepaid expenses and other assets

 

 

242

 

 

 

(83,653

)

Operating lease right-of-use assets

 

 

14,966

 

 

 

20,257

 

Accounts payable

 

 

(11,123

)

 

 

500,004

 

Insurance reserves

 

 

71,352

 

 

 

(403,330

)

Accrued and other liabilities

 

 

71,391

 

 

 

(25,338

)

Lease liabilities

 

 

(10,453

)

 

 

(8,220

)

Net cash used in operating activities

 

 

(79,464

)

 

 

(206,926

)

Cash flows from investing activities

 

 

 

 

Purchases of marketable securities

 

 

(981,743

)

 

 

(1,179,343

)

Purchase of non-marketable security

 

 

 

 

 

(10,000

)

Purchases of term deposits

 

 

(75,000

)

 

 

(75,000

)

Proceeds from sales of marketable securities

 

 

17,099

 

 

 

406,508

 

Proceeds from maturities of marketable securities

 

 

1,169,796

 

 

 

1,661,458

 

Proceeds from maturity of term deposit

 

 

36,000

 

 

 

30,000

 

Purchases of property and equipment and scooter fleet

 

 

(10,685

)

 

 

(34,476

)

Cash paid for acquisitions, net of cash acquired

 

 

3

 

 

 

(12,440

)

Sales of property and equipment

 

 

5,653

 

 

 

960

 

Net cash provided by (used in) investing activities

 

 

161,123

 

 

 

787,667

 

Cash flows from financing activities

 

 

 

 

Repayment of loans

 

 

(9,984

)

 

 

(6,087

)

Proceeds from exercise of stock options and other common stock issuances

 

 

3,244

 

 

 

2,372

 

Taxes paid related to net share settlement of equity awards

 

 

(7,652

)

 

 

(6,762

)

Principal payments on finance lease obligations

 

 

(9,894

)

 

 

(6,167

)

Net cash provided by financing activities

 

 

(24,286

)

 

 

(16,644

)

Effect of foreign exchange on cash, cash equivalents and restricted cash and cash equivalents

 

 

34

 

 

 

(120

)

Net increase (decrease) in cash, cash equivalents and restricted cash and cash equivalents

 

 

57,407

 

 

 

563,977

 

Cash, cash equivalents and restricted cash and cash equivalents

 

 

 

 

Beginning of period

 

 

438,485

 

 

 

564,465

 

End of period

 

$

495,892

 

 

$

1,128,442

 

Lyft, Inc.

Condensed Consolidated Statements of Cash Flows

(in thousands)

(unaudited)

 

 

 

Three Months Ended March 31,

 

 

2021

 

2020

Reconciliation of cash, cash equivalents and restricted cash and cash equivalents to the consolidated balance sheets

 

 

 

 

Cash and cash equivalents

 

$

312,230

 

 

$

597,889

 

Restricted cash and cash equivalents

 

183,556

 

 

529,091

 

Restricted cash, included in prepaid expenses and other current assets

 

106

 

 

1,462

 

Total cash, cash equivalents and restricted cash and cash equivalents

 

$

495,892

 

 

$

1,128,442

 

Non-cash investing and financing activities

 

 

 

 

Purchases of property and equipment, and scooter fleet not yet settled

 

$

26,616

 

 

$

11,049

 

Right-of-use assets acquired under finance leases

 

1,824

 

 

 

Right-of-use assets acquired under operating leases

 

3,177

 

 

19,861

 

Remeasurement of finance and operating lease right of use assets for lease modification

 

(3,582

)

 

 

Settlement of pre-existing right-of-use assets under operating leases in connection with acquisition of Flexdrive

 

 

 

133,088

 

Settlement of pre-existing lease liabilities under operating leases in connection with acquisition of Flexdrive

 

 

 

130,089

 

Lyft, Inc.

Calculations of Key Metrics and

GAAP to Non-GAAP Reconciliations

(in millions)

(unaudited)

 

 

 

Three Months Ended March 31,

 

 

2021

 

2020

Contribution

 

 

 

 

 

Revenue

  $

609.0

 

$

955.7

Less cost of revenue

 

(412.0

)

 

(542.4

)

Adjusted to exclude the following (as related to cost of revenue):

 

 

 

 

Amortization of intangible assets

 

2.8

 

2.8

Stock based compensation expense

 

8.4

 

9.7

Payroll tax expense related to stock-based compensation

 

1.1

 

0.7

Changes to the liabilities for insurance required by regulatory agencies attributable to historical periods

 

128.0

 

58.4

Transfer of certain legacy auto insurance liabilities

 

 

62.5

Contribution

  $

337.3

 

$

547.4

Contribution Margin

 

55.4

%

 

57.3

%
   
   

 

 

Three Months Ended March 31,

 

 

2021

 

2020

Adjusted EBITDA

 

 

 

 

 

 

 

 

 

Net Loss

 

$

(427.3

)

 

$

(398.1

)

Adjusted to exclude the following:

 

 

 

 

Interest expense(1)

 

 

12.9

 

 

 

1.5

 

Other income (expense), net(2)

 

 

(3.6

)

 

 

(19.1

)

Provision for income taxes

 

 

1.9

 

 

 

1.6

 

Depreciation and amortization

 

 

34.4

 

 

 

35.5

 

Stock-based compensation expense

 

 

164.2

 

 

 

160.0

 

Payroll tax expense related to stock-based compensation

 

 

16.5

 

 

 

9.9

 

Changes to the liabilities for insurance required by regulatory agencies attributable to historical periods

 

 

128.0

 

 

 

58.4

 

Costs related to acquisitions

 

 

 

 

 

0.4

 

Transfer of certain legacy auto insurance liabilities

 

 

 

 

 

64.7

 

Adjusted EBITDA

 

$

(73.0

)

 

$

(85.2

)

Adjusted EBITDA Margin

 

 

(12.0

%)

 

 

(8.9

%)

 

(1) Includes interest expense for Flexdrive vehicles and the convertible senior notes and $0.3 million related to the interest component of vehicle related finance leases.

(2) Includes interest income which was reported as a separate line item on the condensed consolidated statement of operations in periods prior to the second quarter of 2020.

 

 

Three Months Ended March 31,

 

 

2021

 

2020

Adjusted Net Loss

 

 

 

 

 

 

 

 

 

Net Loss

 

$

(427.3

)

 

$

(398.1

)

Adjusted to exclude the following:

 

 

 

 

Amortization of intangible assets

 

4.5

 

 

7.3

 

Stock-based compensation expense

 

164.2

 

 

160.0

 

Payroll tax expense related to stock-based compensation

 

16.5

 

 

9.9

 

Changes to the liabilities for insurance required by regulatory agencies attributable to historical periods

 

128.0

 

 

58.4

 

Costs related to acquisitions

 

 

 

0.4

 

Transfer of certain legacy auto insurance liabilities

 

 

 

64.7

 

Adjusted Net Loss

 

$

(114.1

)

 

$

(97.4

)

 

Contacts

Sonya Banerjee
investor@lyft.com

Media
press@lyft.com

Contacts

Sonya Banerjee
investor@lyft.com

Media
press@lyft.com