$LYFT
Lyft, Inc.

2019 Q1 Form 10-Q Financial Statement

#000156459019019135 Filed on May 14, 2019

View on sec.gov

Income Statement

Concept 2019 Q1 2018 Q4 2018 Q1
Revenue $776.0M $669.6M $397.2M
YoY Change 95.38% 94.31% 129.85%
Cost Of Revenue $462.9M $485.6M $260.6M
YoY Change 77.61% 83.94% 68.35%
Gross Profit $313.2M $183.9M $136.6M
YoY Change 129.3% 127.88% 658.77%
Gross Profit Margin 40.36% 27.46% 34.39%
Selling, General & Admin $651.9M $357.9M $258.9M
YoY Change 151.82% 27.68% 106.76%
% of Gross Profit 208.15% 194.62% 189.53%
Research & Development $631.0M $96.10M $63.19M
YoY Change 898.48% 101.47% 168.9%
% of Gross Profit 201.48% 52.26% 46.27%
Depreciation & Amortization $23.14M $1.138M
YoY Change 1932.95%
% of Gross Profit 7.39% 0.83%
Operating Expenses $1.283B $454.0M $322.1M
YoY Change 298.33% 38.41% 116.58%
Operating Profit -$1.157B -$270.1M -$245.4M
YoY Change 371.47% 9.22% 87.74%
Interest Expense $19.70M $20.10M $11.50M
YoY Change 71.3% 168.0% 310.71%
% of Operating Profit
Other Income/Expense, Net $146.0K $600.0K -$55.00K
YoY Change -365.45% 200.0%
Pretax Income -$1.137B -$249.3M -$233.9M
YoY Change 386.08% 4.01% 83.05%
Income Tax $1.400M -$400.0K $406.0K
% Of Pretax Income
Net Earnings -$1.138B -$248.9M -$234.3M
YoY Change 385.82% 3.79% 83.22%
Net Earnings / Revenue -146.71% -37.17% -59.0%
Basic Earnings Per Share
Diluted Earnings Per Share -$3.982M -$870.6K -$819.5K
COMMON SHARES
Basic Shares Outstanding
Diluted Shares Outstanding

Balance Sheet

Concept 2019 Q1 2018 Q4 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.035B
YoY Change
Cash & Equivalents $329.5M $517.7M $263.2M
Short-Term Investments $705.4M
Other Short-Term Assets $345.5M
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $1.380B $2.320B
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $120.5M $109.3M
YoY Change
Goodwill $150.7M $152.1M
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $10.35M $9.439M
YoY Change
Total Long-Term Assets $1.860B $1.440B
YoY Change
TOTAL ASSETS
Total Short-Term Assets $1.380B $2.320B
Total Long-Term Assets $1.860B $1.440B
Total Assets $3.241B $3.760B
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $39.39M $32.34M
YoY Change
Accrued Expenses $775.7M $606.2M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.752B $1.449B
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $4.660M $30.46M
YoY Change
Total Long-Term Liabilities $4.660M $30.46M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $1.752B $1.449B
Total Long-Term Liabilities $4.660M $30.46M
Total Liabilities $2.020B $1.479B
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings -$4.084B -$2.945B
YoY Change
Common Stock $150.0M $73.92M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$3.932B -$2.871B -$2.212B
YoY Change
Total Liabilities & Shareholders Equity $3.241B $3.760B
YoY Change

Cashflow Statement

Concept 2019 Q1 2018 Q4 2018 Q1
OPERATING ACTIVITIES
Net Income -$1.138B -$248.9M -$234.3M
YoY Change 385.82% 3.79% 83.22%
Depreciation, Depletion And Amortization $23.14M $1.138M
YoY Change 1932.95%
Cash From Operating Activities -$84.83M -$79.62M
YoY Change 6.54%
INVESTING ACTIVITIES
Capital Expenditures $5.500M -$3.090M
YoY Change -277.99%
Acquisitions $1.711M
YoY Change
Other Investing Activities $0.00 -$816.1M
YoY Change -100.0%
Cash From Investing Activities $670.3M -$819.1M
YoY Change -181.83%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$788.2M 55.54M
YoY Change -1519.05%
NET CHANGE
Cash From Operating Activities -$84.83M -79.62M
Cash From Investing Activities $670.3M -819.1M
Cash From Financing Activities -$788.2M 55.54M
Net Change In Cash -$202.6M -843.3M
YoY Change -75.98%
FREE CASH FLOW
Cash From Operating Activities -$84.83M -$79.62M
Capital Expenditures $5.500M -$3.090M
Free Cash Flow -$90.33M -$76.53M
YoY Change 18.02%

Facts In Submission

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CY2019Q1 us-gaap Use Of Estimates
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<p style="margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-style:italic;font-weight:bold;font-size:10pt;font-family:Times New Roman;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="margin-top:6pt;margin-bottom:0pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and reported amounts of revenues and expenses during the reporting periods.&#160;The Company bases its estimates on various factors and information which may include, but are not limited to, history and prior experience, expected future results, new related events and economic conditions, which form the basis for making judgments about the carrying value of assets and liabilities that are not readily apparent from other sources. Actual results could differ materially from those estimates.</p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Significant items subject to estimates and assumptions include those related to fair value of financial instruments, goodwill and identifiable intangible assets, leases, losses resulting from insurance claims, indirect tax obligations, legal contingencies, valuation allowance for deferred income taxes, valuation of stock-based compensation, and valuation of common stock.</p>
CY2019Q1 lyft Cash Cash Equivalents And Short Term Investments Unrealized Losses
CashCashEquivalentsAndShortTermInvestmentsUnrealizedLosses
33000
CY2019Q1 lyft Cash Equivalents And Short Term Investments
CashEquivalentsAndShortTermInvestments
706777000
CY2019Q1 lyft Restricted Cash And Investments Amortized Cost
RestrictedCashAndInvestmentsAmortizedCost
1109284000
CY2019Q1 lyft Restricted Cash And Investments Unrealized Gains
RestrictedCashAndInvestmentsUnrealizedGains
598000
CY2019Q1 lyft Restricted Cash And Investments Unrealized Losses
RestrictedCashAndInvestmentsUnrealizedLosses
100000
CY2019Q1 us-gaap Assets Noncurrent
AssetsNoncurrent
1860495000
CY2019Q1 lyft Referral Coupons Expiry Term
ReferralCouponsExpiryTerm
P1Y
CY2019Q1 us-gaap Share Based Compensation
ShareBasedCompensation
857200000
CY2019Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
285600000
CY2019Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
314100000
CY2019Q1 us-gaap Deferred Rent Credit
DeferredRentCredit
28500000
CY2019Q1 lyft Cash Equivalents And Short Term Investments Amortized Cost
CashEquivalentsAndShortTermInvestmentsAmortizedCost
706324000
CY2019Q1 lyft Cash Cash Equivalents And Short Term Investments Unrealized Gains
CashCashEquivalentsAndShortTermInvestmentsUnrealizedGains
486000
CY2019Q1 lyft Restricted Cash Equivalents And Short Term Investments
RestrictedCashEquivalentsAndShortTermInvestments
1109782000
CY2019Q1 lyft Unrestricted And Restricted Cash Equivalents And Investments Amortized Cost
UnrestrictedAndRestrictedCashEquivalentsAndInvestmentsAmortizedCost
1815608000
CY2019Q1 lyft Unrestricted And Restricted Cash Equivalents And Investments Unrealized Gains
UnrestrictedAndRestrictedCashEquivalentsAndInvestmentsUnrealizedGains
1084000
CY2019Q1 lyft Unrestricted And Restricted Cash Equivalents And Investments Unrealized Losses
UnrestrictedAndRestrictedCashEquivalentsAndInvestmentsUnrealizedLosses
133000
CY2019Q1 lyft Unrestricted And Restricted Cash Equivalents And Investments Fair Value Disclosure
UnrestrictedAndRestrictedCashEquivalentsAndInvestmentsFairValueDisclosure
1816559000
CY2018Q4 lyft Cash Cash Equivalents And Short Term Investments Unrealized Gains
CashCashEquivalentsAndShortTermInvestmentsUnrealizedGains
76000
CY2018Q4 lyft Cash Cash Equivalents And Short Term Investments Unrealized Losses
CashCashEquivalentsAndShortTermInvestmentsUnrealizedLosses
645000
CY2018Q4 lyft Cash Equivalents And Short Term Investments Amortized Cost
CashEquivalentsAndShortTermInvestmentsAmortizedCost
1790411000
CY2018Q4 lyft Cash Equivalents And Short Term Investments
CashEquivalentsAndShortTermInvestments
1789842000
CY2018Q4 lyft Restricted Cash And Investments Amortized Cost
RestrictedCashAndInvestmentsAmortizedCost
1002605000
CY2018Q4 lyft Restricted Cash And Investments Unrealized Gains
RestrictedCashAndInvestmentsUnrealizedGains
64000
CY2018Q4 lyft Restricted Cash And Investments Unrealized Losses
RestrictedCashAndInvestmentsUnrealizedLosses
350000
CY2018Q4 lyft Restricted Cash Equivalents And Short Term Investments
RestrictedCashEquivalentsAndShortTermInvestments
1002319000
CY2018Q4 lyft Unrestricted And Restricted Cash Equivalents And Investments Amortized Cost
UnrestrictedAndRestrictedCashEquivalentsAndInvestmentsAmortizedCost
2793016000
CY2018Q4 lyft Unrestricted And Restricted Cash Equivalents And Investments Unrealized Gains
UnrestrictedAndRestrictedCashEquivalentsAndInvestmentsUnrealizedGains
140000
CY2018Q4 lyft Unrestricted And Restricted Cash Equivalents And Investments Unrealized Losses
UnrestrictedAndRestrictedCashEquivalentsAndInvestmentsUnrealizedLosses
995000
CY2018Q4 lyft Unrestricted And Restricted Cash Equivalents And Investments Fair Value Disclosure
UnrestrictedAndRestrictedCashEquivalentsAndInvestmentsFairValueDisclosure
2792161000
CY2018Q4 lyft Insurance Reserves Current
InsuranceReservesCurrent
810273000
CY2017Q4 lyft Insurance Reserves Current
InsuranceReservesCurrent
376538000
CY2019Q1 lyft Insurance Reserves Losses Paid
InsuranceReservesLossesPaid
99551000
CY2018Q1 lyft Insurance Reserves Losses Paid
InsuranceReservesLossesPaid
48855000
CY2019Q1 lyft Increase Decrease In Insurance Change In Estimates
IncreaseDecreaseInInsuranceChangeInEstimates
23820000
CY2018Q1 lyft Increase Decrease In Insurance Change In Estimates
IncreaseDecreaseInInsuranceChangeInEstimates
3392000
CY2019Q1 lyft Insurance Reserves During Period
InsuranceReservesDuringPeriod
202442000
CY2018Q1 lyft Insurance Reserves During Period
InsuranceReservesDuringPeriod
135193000
CY2019Q1 lyft Insurance Reserves Current
InsuranceReservesCurrent
936984000
CY2018Q1 lyft Insurance Reserves Current
InsuranceReservesCurrent
466268000
CY2019Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
337431000
CY2019Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
23539000
CY2019Q1 us-gaap Short Term Lease Cost
ShortTermLeaseCost
1733000
CY2019Q1 us-gaap Variable Lease Cost
VariableLeaseCost
3000000
CY2019Q1 us-gaap Lease Cost
LeaseCost
28272000
CY2019Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
15800000
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
68346000
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
97651000
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
69011000
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
48469000
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
32656000
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
97870000
CY2019Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
414003000
CY2019Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
76572000
CY2019Q1 lyft Lessee Operating Lease Lease Not Yet Commenced Liability Payments Due
LesseeOperatingLeaseLeaseNotYetCommencedLiabilityPaymentsDue
145600000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
81350000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
87977000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
59233000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
48813000
CY2018Q4 lyft Operating Leases Future Minimum Payments Due In Five Years And Thereafter
OperatingLeasesFutureMinimumPaymentsDueInFiveYearsAndThereafter
133670000
CY2018Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
411043000
CY2017Q1 lyft Unemployment Insurance Assessment
UnemploymentInsuranceAssessment
9500000
CY2018Q1 lyft Regulatory Reporting Assessment
RegulatoryReportingAssessment
28000000
CY2018 us-gaap Loss Contingency Loss In Period
LossContingencyLossInPeriod
3500000
CY2019Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
859486000
CY2018Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1996000
CY2019Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.0012
CY2018Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
-0.0017
CY2019Q1 us-gaap Income Tax Examination Penalties And Interest Expense
IncomeTaxExaminationPenaltiesAndInterestExpense
0
CY2019Q1 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2018Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2019Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
251123000
CY2018Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
253743000
CY2019Q1 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
600000
CY2018Q1 us-gaap Revenue From Related Parties
RevenueFromRelatedParties
300000

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