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

SEC announcement ·  Feb 15 04:33
Summary by Futu AI
Lyft Inc. filed an amended Form 8-K/A with the SEC on February 13, 2024, to correct a clerical error in its previously issued financial results for the quarter and fiscal year ended December 31, 2023. The correction pertains to the 2024 directional commentary in the press release dated February 13, 2024. Lyft's financial highlights for Q4 2023 include Gross Bookings of $3.7 billion, a 17% increase year-over-year, and revenue of $1.2 billion, a 4% increase year-over-year. The net loss was significantly reduced to $26.3 million from $588.1 million in Q4’22, and Adjusted EBITDA was $66.6 million, a substantial improvement from a loss of $248.3 million in Q4’22. For the full year, Gross Bookings grew 14% to $13.8 billion, revenue increased 8% to $4.4 billion, and net loss decreased to $340.3 million from $1.6 billion in 2022. Adjusted EBITDA for the...Show More
Lyft Inc. filed an amended Form 8-K/A with the SEC on February 13, 2024, to correct a clerical error in its previously issued financial results for the quarter and fiscal year ended December 31, 2023. The correction pertains to the 2024 directional commentary in the press release dated February 13, 2024. Lyft's financial highlights for Q4 2023 include Gross Bookings of $3.7 billion, a 17% increase year-over-year, and revenue of $1.2 billion, a 4% increase year-over-year. The net loss was significantly reduced to $26.3 million from $588.1 million in Q4’22, and Adjusted EBITDA was $66.6 million, a substantial improvement from a loss of $248.3 million in Q4’22. For the full year, Gross Bookings grew 14% to $13.8 billion, revenue increased 8% to $4.4 billion, and net loss decreased to $340.3 million from $1.6 billion in 2022. Adjusted EBITDA for the year was $222.4 million, compared to a loss of $416.5 million in the previous year. Operational highlights include a record number of annual riders, over 700 million rides, and drivers taking home over $8 billion. Lyft also launched a new pay standard for drivers and expanded Women+ Connect to over 240 markets. The company anticipates positive Free Cash Flow for the full year for the first time in 2024. Lyft plans to host its first Investor Day on June 6, 2024.

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