2022 Q2 Form 10-Q Financial Statement

#000175950922000062 Filed on August 05, 2022

View on sec.gov

Income Statement

Concept 2022 Q2 2022 Q1 2021 Q4
Revenue $990.7M $875.6M $969.9M
YoY Change 29.51% 43.78% 70.19%
Cost Of Revenue $650.4M $440.3M $661.0M
YoY Change 87.48% 6.86% 35.35%
Gross Profit $340.4M $435.3M $308.9M
YoY Change -18.59% 121.04% 279.01%
Gross Profit Margin 34.36% 49.71% 31.85%
Selling, General & Admin $406.5M $343.3M $387.5M
YoY Change 30.1% 19.93% 22.01%
% of Gross Profit 119.42% 78.86% 125.45%
Research & Development $201.8M $192.8M $195.0M
YoY Change -19.95% -19.09% -9.39%
% of Gross Profit 59.28% 44.28% 63.13%
Depreciation & Amortization $29.12M $31.79M $33.28M
YoY Change -15.73% -7.72% -6.77%
% of Gross Profit 8.55% 7.3% 10.77%
Operating Expenses $608.3M $536.0M $582.5M
YoY Change 7.75% 2.21% 9.35%
Operating Profit -$373.2M -$199.3M -$273.6M
YoY Change 55.41% -52.13% -39.36%
Interest Expense $4.960M $4.549M -$13.13M
YoY Change -61.4% -63.8% 98.86%
% of Operating Profit
Other Income/Expense, Net $953.0K $9.763M $5.545M
YoY Change -45.26% 170.82% -1024.17%
Pretax Income -$377.2M -$194.1M -$281.2M
YoY Change 50.14% -54.37% -38.95%
Income Tax $100.0K $2.800M $1.972M
% Of Pretax Income
Net Earnings -$377.2M -$196.9M -$283.2M
YoY Change 49.75% -53.92% -38.2%
Net Earnings / Revenue -38.08% -22.49% -29.2%
Basic Earnings Per Share -$1.08 -$0.57
Diluted Earnings Per Share -$1.08 -$0.57 -$826.4K
COMMON SHARES
Basic Shares Outstanding 350.5M shares 346.6M shares
Diluted Shares Outstanding 350.5M shares 346.6M shares

Balance Sheet

Concept 2022 Q2 2022 Q1 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $242.8M $224.7M $2.254B
YoY Change -89.19% -89.96% 0.12%
Cash & Equivalents $239.3M $214.9M $457.3M
Short-Term Investments $3.500M $9.800M $1.797B
Other Short-Term Assets $652.4M $699.0M $522.2M
YoY Change 82.73% 103.38% 52.2%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $2.459B $2.936B $2.776B
YoY Change -5.5% 13.74% 7.01%
LONG-TERM ASSETS
Property, Plant & Equipment $582.8M $526.8M $521.6M
YoY Change 2.17% -7.46% -11.46%
Goodwill $262.2M $180.5M $180.5M
YoY Change 44.92% -1.21% -1.19%
Intangibles
YoY Change
Long-Term Investments $155.7M $70.20M $80.41M
YoY Change 106.85% 556.1% 704.11%
Other Assets $15.26M $58.92M $46.46M
YoY Change -15.83% 248.0% 173.75%
Total Long-Term Assets $2.298B $1.833B $1.998B
YoY Change 16.72% -6.72% -4.17%
TOTAL ASSETS
Total Short-Term Assets $2.459B $2.936B $2.776B
Total Long-Term Assets $2.298B $1.833B $1.998B
Total Assets $4.758B $4.768B $4.774B
YoY Change 4.07% 4.9% 2.03%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $99.96M $95.57M $129.5M
YoY Change 29.22% 36.8% 54.02%
Accrued Expenses $1.348B $1.364B $1.264B
YoY Change 19.99% 31.36% 32.54%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $53.02M $55.92M $56.26M
YoY Change 29.1% 48.86% 57.34%
Total Short-Term Liabilities $2.732B $2.577B $2.516B
YoY Change 19.22% 16.04% 21.3%
LONG-TERM LIABILITIES
Long-Term Debt $808.0M $787.4M $655.2M
YoY Change 22.46% 20.83% 1.7%
Other Long-Term Liabilities $61.41M $45.87M $50.91M
YoY Change 237.25% 267.85% 178.31%
Total Long-Term Liabilities $869.4M $833.3M $706.1M
YoY Change 28.23% 25.47% 6.57%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.732B $2.577B $2.516B
Total Long-Term Liabilities $869.4M $833.3M $706.1M
Total Liabilities $3.790B $3.610B $3.433B
YoY Change 18.2% 15.09% 14.32%
SHAREHOLDERS EQUITY
Retained Earnings -$8.930B -$8.553B -$8.363B
YoY Change 11.91% 10.68% 14.55%
Common Stock $4.000K $3.000K $3.000K
YoY Change 33.33% 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $967.3M $1.158B $1.341B
YoY Change
Total Liabilities & Shareholders Equity $4.758B $4.768B $4.774B
YoY Change 4.07% 4.9% 2.03%

Cashflow Statement

Concept 2022 Q2 2022 Q1 2021 Q4
OPERATING ACTIVITIES
Net Income -$377.2M -$196.9M -$283.2M
YoY Change 49.75% -53.92% -38.2%
Depreciation, Depletion And Amortization $29.12M $31.79M $33.28M
YoY Change -15.73% -7.72% -6.77%
Cash From Operating Activities -$25.19M -$152.3M -$26.22M
YoY Change -32.96% 91.71% -90.09%
INVESTING ACTIVITIES
Capital Expenditures -$23.00M -$30.31M -$22.50M
YoY Change 134.12% 183.54% -1.32%
Acquisitions $0.00
YoY Change -100.0%
Other Investing Activities $120.4M -$43.93M -$283.2M
YoY Change -36.8% -125.57% -236.02%
Cash From Investing Activities $97.37M -$74.24M -$305.7M
YoY Change -46.1% -146.08% -264.88%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -11.59M -$22.01M -9.332M
YoY Change 19.44% -9.36% -60.2%
NET CHANGE
Cash From Operating Activities -25.19M -$152.3M -26.22M
Cash From Investing Activities 97.37M -$74.24M -305.7M
Cash From Financing Activities -11.59M -$22.01M -9.332M
Net Change In Cash 60.58M -$248.5M -341.3M
YoY Change -54.57% -532.89% 232.49%
FREE CASH FLOW
Cash From Operating Activities -$25.19M -$152.3M -$26.22M
Capital Expenditures -$23.00M -$30.31M -$22.50M
Free Cash Flow -$2.188M -$122.0M -$3.719M
YoY Change -92.11% 77.44% -98.46%

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<div style="margin-top:6pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-top:6pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">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. 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.</span></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Significant items subject to estimates and assumptions include those related to losses resulting from insurance claims, fair value of financial assets and liabilities, goodwill and identifiable intangible assets, leases, indirect tax obligations, legal contingencies, valuation allowance for deferred income taxes, and the valuation of stock-based compensation.</span></div><div style="margin-bottom:6pt;margin-top:6pt;text-align:justify;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Beginning in the middle of March 2020, the outbreak of the coronavirus (“COVID-19”) in the United States, Canada, and globally has impacted the Company’s business.</span><span style="color:#222222;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%"> </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company continues to be impacted by COVID-19, but the long-term </span></div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">impact will depend largely on future developments, which are highly uncertain and cannot be accurately predicted, including the duration of the pandemic, new information about additional variants, the availability and efficacy of vaccine distributions, additional or renewed actions by government authorities and private businesses to contain the pandemic or respond to its impact and altered consumer behavior, among other things. </span><span style="color:#222222;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">As of the date of issuance of the financial statements, the Company is not aware of any material event or circumstance that would require it to update its estimates, judgments or revise the carrying value of the Company's assets or liabilities, including the recording of any credit losses. These estimates may change, as new events occur and additional information is obtained, and could lead to impairment of long lived assets or goodwill, or credit losses associated with investments or other assets, and the impact of such changes on estimates will be recognized on the </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">condensed </span><span style="color:#222222;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">consolidated financial statements as soon as they become known. Actual results could differ from those estimates and any such differences may be material to the Company</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">’</span>s financial statements.
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CY2022Q2 us-gaap Sublease Income
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us-gaap Finance Lease Interest Expense
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CY2021Q2 us-gaap Short Term Lease Cost
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us-gaap Variable Lease Cost
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us-gaap Lease Cost
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us-gaap Lease Cost
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us-gaap Finance Lease Interest Payment On Liability
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LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
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28474000 usd
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CY2022Q2 lyft Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
68097000 usd
CY2022Q2 lyft Finance Lease Liability Payments Due After Year Four
FinanceLeaseLiabilityPaymentsDueAfterYearFour
1411000 usd
CY2022Q2 lyft Lessee Operating And Finance Lease Liability Payments Due After Year Four
LesseeOperatingAndFinanceLeaseLiabilityPaymentsDueAfterYearFour
69508000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Payments Due
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283607000 usd
CY2022Q2 us-gaap Finance Lease Liability Payments Due
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CY2022Q2 lyft Lessee Operating And Finance Lease Liability Payment Due
LesseeOperatingAndFinanceLeaseLiabilityPaymentDue
317240000 usd
CY2022Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
45963000 usd
CY2022Q2 us-gaap Finance Lease Liability Undiscounted Excess Amount
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CY2022Q2 us-gaap Operating Lease Liability
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CY2022Q2 us-gaap Finance Lease Liability
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CY2022Q2 lyft Lessee Operating And Finance Lease Liability
LesseeOperatingAndFinanceLeaseLiability
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CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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