share_log

Lyft Inc | 8-K: Lyft Announces Fourth Quarter and Full-Year 2023 Results

SEC announcement ·  Feb 14 05:45
Summary by Futu AI
On February 13, 2024, Lyft Inc., a Delaware-incorporated company listed on the Nasdaq Global Select Market under the symbol LYFT, filed a Form 8-K report with the U.S. Securities and Exchange Commission. The report announced Lyft's financial results for the fourth quarter and the fiscal year ended December 31, 2023. The company reported a net loss of $26.3 million for Q4 2023, a significant improvement from a net loss of $588.1 million in Q4 2022. The net loss included $93.3 million of stock-based compensation and related payroll tax expenses. Adjusted EBITDA for Q4 was $66.6 million, compared to a negative $248.3 million in the same quarter the previous year. For the full year, Lyft's net loss was $340.3 million, down from $1.6 billion in 2022, with adjusted EBITDA at $222.4 million, a positive...Show More
On February 13, 2024, Lyft Inc., a Delaware-incorporated company listed on the Nasdaq Global Select Market under the symbol LYFT, filed a Form 8-K report with the U.S. Securities and Exchange Commission. The report announced Lyft's financial results for the fourth quarter and the fiscal year ended December 31, 2023. The company reported a net loss of $26.3 million for Q4 2023, a significant improvement from a net loss of $588.1 million in Q4 2022. The net loss included $93.3 million of stock-based compensation and related payroll tax expenses. Adjusted EBITDA for Q4 was $66.6 million, compared to a negative $248.3 million in the same quarter the previous year. For the full year, Lyft's net loss was $340.3 million, down from $1.6 billion in 2022, with adjusted EBITDA at $222.4 million, a positive swing from a negative $416.5 million in the prior year. Gross Bookings grew by 14% year-over-year to $13.8 billion, and revenue increased by 8% to $4.4 billion. Operational highlights included a record number of annual riders, over 700 million rides given, and drivers earning over $8 billion. Lyft also launched new initiatives such as a new pay standard for drivers and expanded Women+ Connect to over 240 markets. The company provided guidance for Q1 2024, expecting Gross Bookings of approximately $3.5 billion to $3.6 billion and an Adjusted EBITDA of $50 million to $55 million. Lyft also anticipates positive Free Cash Flow for the full year for the first time. Additionally, Lyft announced it will host its first Investor Day on June 6, 2024.

This announcement is a separate document:

Doc 1

Doc 2

The information provided by Futu AI is automatically generated by third-party artificial intelligence (AI) software based on news content. It is only available to users located outside of China mainland.


The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.