Q4 and Fiscal Year 2019 Earnings

Supplemental Data

February 11, 2020

Forward-Looking Statements & Non-GAAP Financial Measures

This presentation and the accompanying oral presentation contain 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 presentationinclude, but are not limited to, statements regarding Lyft's future financial and operating performance, including its outlook and guidance, demand for Lyft's products and services and the markets in which Lyft operates and the future of transportation-as-a-service. 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. The forward-looking statements contained in this presentationare also subject to other risks and uncertainties, including those more fully described in Lyft's filings with the Securities and Exchange Commission, including Lyft's prospectus filed pursuant to Rule 424(b) under the Securities Act of 1933, as amended, on March 29, 2019 and in our Quarterly Reports on Form 10-Q for the quarters ended March 31, 2019, June 30, 2019 and September 30, 2019 and our Form 10-K for the full year 2019 that will be filed by March 30, 2020. The forward-looking statements in this presentationare 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.

In addition to financial information presented in accordance with U.S. generally accepted accounting principles ("GAAP"), this presentation and the accompanying oral presentation include certain non-GAAP financial measures, including Contribution, Contribution Margin, Adjusted EBITDA, Adjusted EBITDA Margin, adjusted net loss, adjusted net loss per share andnon-GAAPoperating expenses. These non-GAAP measures are presented for supplemental informational purposes only and should not be considered a substitute for financial information presented in accordance with GAAP. These non-GAAP measures have limitations as analytical tools, and they should not be considered in isolation or as a substitute for analysis of other GAAP financial measures. A reconciliation of these measures to the most directly comparable GAAP measures is included at the end of this presentation.

This presentation and the accompanying oral presentation also contain statistical data, estimates and forecasts that are based on independent industry publications or other publicly available information, as well as other information based on our internal sources. This information involves many assumptions and limitations, and you are cautioned not to give undue weight to such information. We have not independently verified the accuracy or completeness of the information contained in the industry publications and other publicly available information. Accordingly, we make no representations as to the accuracy or completeness of that information nor do we undertake to update such information after the date of this presentation.

2

Q4 Key Highlights

+52% 54% +25pp

Revenue

Record

Adjusted EBITDA Margin

YoY Growth

Contribution Margin

YoY Improvement

Note: Except for revenue, the figures above are non-GAAP financial measures. Please see the explanation of non-GAAP measures as well as reconciliation from GAAP to Non-GAAP measures contained in the appendix to this presentation.

3

Revenue

($ in Millions)

$1,017

$670

Q4'18

Q4'19

52%

YoY Growth

4

Active Riders

Revenue per Active Rider

(in Millions)

23%

23%

YoY growth

22.9

18.6

Q4'18

Q4'19

YoY growth

$44.40

$36.02

Q4'18

Q4'19

5

Contribution Margin

54.0%

45.5%

+8.5pp

Improvement

Q4'18

Q4'19

Contribution was $305 million and $550 million for Q4'18 and Q4'19, respectively.

Note: The figures above are non-GAAP financial measures. Please see the explanation of non-GAAP measures as well as6reconciliation from GAAP to Non-GAAP measures contained in the appendix to this presentation.

Non-GAAP Operating Expenses

(as a % of revenue)

Q4 '18

(17.7%)

(13.8%)

(32.6%)

(20.2%)

+16pp

improvement

Q4 '19

(13.8%)

(14.0%)

(18.4%)

(22.3%)

Operations and support

Research and development

Sales and marketing

General and administrative

Note: The figures above are non-GAAP financial measures. Please see the explanation of non-GAAP measures as well as reconciliation from GAAP to Non-GAAP measures contained in the appendix to this presentation.

7

Adjusted EBITDA Margin

Q4'18

Q4'19

(12.9%)

+25pp

Improvement

(37.5%)

Adjusted EBITDA was ($251) million and ($131) million for Q4'18 and Q4'19, respectively.

Note: The figures above are non-GAAP financial measures. Please see the explanation of non-GAAP measures as well as8reconciliation from GAAP to Non-GAAP measures contained in the appendix to this presentation

Fiscal Year 2019 Highlights

$3.6B

+68%

+25pp

Revenue

Revenue

Adjusted EBITDA Margin

YoY Growth

YoY Improvement

Note: Adjusted EBITDA Margin is a non-GAAP financial measure. Please see the explanation of non-GAAP measures as well as reconciliation from GAAP to Non-GAAP measures contained in the appendix to this presentation.

9

Quarterly Revenue

($ in Millions)

$172.8

$238.9

$303.6 $344.6

$955.6

$867.3

$776.0

$669.5

$585.0

$504.9

$397.2

$1,017.1

Q1'17

Q2' 17

Q3'17

Q4'17

Q1'18

Q2' 18

Q3'18

Q4'18

Q1'19

Q2' 19

Q3'19

Q4'19

10

Improving Operating Leverage

Contribution($inMillions)

AdjustedEBITDAMargin

$549.5

Q4'18

Q1'19

Q2' 19

Q3'19

Q4'19

$479.2

$384.9

$398.9

$304.7

(13.4%)

(12.9%)

(23.5%)

(27.8%)

Q4'18

Q1'19

Q2' 19

Q3'19

Q4'19

(37.5%)

Adjusted EBITDA was ($251) million, ($216) million, ($204) million, ($128) million, and ($131) million for Q4'18, Q1'19, Q2'19, Q3'19 and Q4'19, respectively.

11

Note: The figures above are non-GAAP financial measures. Please see the explanation of non-GAAP measures as well as reconciliation from GAAP to Non-GAAP measures contained in the appendix to this presentation

Outlook

($ in Millions)

Q1'20

FY20

Low

High

Low

High

Revenue

$1,055

$1,060

$4,575

$4,650

YoY Growth

36%

37%

27%

29%

Adjusted

($145)

($140)

($490)

($450)

EBITDA

12

Reconciliations from GAAP to Non-GAAP and

Trended Financial Statements

Condensed Consolidated Statement of Operations

($ in Millions, except per share)

Fiscal 2017

Fiscal 2018

Fiscal 2019

Q1

Q2

Q3

Q4

Total

Q1

Q2

Q3

Q4

Total

Q1

Q2

Q3

Q4

Total

Revenue

$

172.8

$

238.9

$

303.6

$

344.6

$

1,059.9

$

397.2

$

504.9

$

585.0

$

669.5

$

2,156.6

$

776.0

$

867.3

$

955.6

$

1,017.1

$

3,616.0

Cost and expenses

Cost of revenue

118.6

143.9

189.0

208.0

659.5

260.6

293.2

322.6

367.0

1,243.4

462.9

630.1

580.7

502.8

2,176.5

Operations and support

36.2

43.0

48.3

56.0

183.5

59.9

67.4

92.5

118.6

338.4

187.2

152.0

149.8

147.1

636.1

Research and development

23.5

28.2

37.2

47.7

136.6

63.1

64.4

77.2

96.1

300.8

631.0

309.8

288.3

276.6

1,505.7

Sales and marketing

84.4

107.4

165.3

209.9

567.0

168.7

175.1

241.1

218.9

803.8

275.1

181.0

163.9

194.2

814.2

General and administrative

40.8

47.0

63.3

70.4

221.5

90.2

98.5

120.3

139.0

448.0

376.7

267.3

263.8

278.2

1,186.0

Total costs and expenses

303.5

369.5

503.1

592.0

1,768.1

642.5

698.6

853.7

939.6

3,134.4

1,932.9

1,540.2

1,446.5

1,398.9

6,318.5

Loss from operations

(130.7)

(130.6)

(199.5)

(247.4)

(708.2)

(245.3)

(193.7)

(268.7)

(270.1)

(977.8)

(1,156.9)

(672.9)

(490.9)

(381.8)

(2,702.5)

Interest income

2.8

4.4

5.5

7.5

20.2

11.5

15.3

19.6

20.1

66.5

19.7

30.0

28.7

24.1

102.5

Other income (expense), net

-

0.1

-

0.2

0.3

(0.1)

(0.3)

0.4

0.7

0.7

0.1

(0.3)

0.6

(0.3)

0.1

Loss before income taxes

(127.9)

(126.1)

(194.0)

(239.7)

(687.7)

(233.9)

(178.7)

(248.7)

(249.3)

(910.6)

(1,137.1)

(643.2)

(461.6)

(358.0)

(2,599.9)

Provision (benefit) for income taxes

-

0.3

0.2

0.1

0.6

0.4

0.2

0.5

(0.4)

0.7

1.4

1.0

1.9

(2.0)

2.3

Net loss

$

(127.9)

$

(126.4)

$

(194.2)

$

(239.8)

$

(688.3)

$

(234.3)

$

(178.9)

$

(249.2)

$

(248.9)

$

(911.3)

$

(1,138.5)

$

(644.2)

$

(463.5)

$

(356.0)

$

(2,602.2)

Net loss per share, basic and diluted

$

(6.77)

$

(6.59)

$

(9.89)

$

(12.13)

$

(35.53)

$

(11.69)

$

(8.48)

$

(11.58)

$

(11.29)

$

(43.04)

$

(48.53)

$

(2.23)

$

(1.57)

$

(1.19)

$

(11.44)

Weighted-average number of shares outstanding used to

18.9

19.2

19.6

19.8

19.4

20.0

21.1

21.5

22.0

21.2

23.5

288.4

294.8

299.6

227.5

compute net loss per share, basic and diluted

14

Condensed Consolidated Balance Sheet

($ in Millions)

Fiscal 2017

Fiscal 2018

Fiscal 2019

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Q1

Q2

Q3

Q4

Assets

Current assets:

Cash and cash equivalents

$

322.7

$

855.6

$

719.0

$

1,106.1

$

263.2

$

928.4

$

1,088.6

$

517.7

$

329.5

$

417.4

$

543.9

$

358.3

Short-term investments

608.6

612.9

625.7

1,284.6

2,016.9

1,996.2

1,609.6

1,520.2

705.4

2,892.9

2,572.6

2,491.8

Prepaid expenses and other current assets

72.6

90.7

124.1

173.0

180.2

219.8

261.6

282.6

345.5

367.5

426.3

397.2

Total current assets

1,003.9

1,559.2

1,468.8

2,563.7

2,460.3

3,144.4

2,959.8

2,320.5

1,380.4

3,677.8

3,542.8

3,247.3

Restricted cash and cash equivalents

37.6

53.6

58.2

72.8

72.4

44.2

139.2

187.4

172.5

123.0

139.4

205.0

Restricted investments

147.2

152.5

190.9

360.9

447.2

550.4

647.1

863.7

993.3

1,165.3

1,237.3

1,361.0

Property and equipment, net

9.3

12.0

14.0

14.2

26.3

32.5

38.4

109.3

120.5

138.1

160.0

188.6

Operating lease right of use assets

-

-

-

-

-

-

-

-

304.6

347.0

412.0

441.3

Intangible assets, net

-

-

0.4

4.3

4.2

6.2

5.9

117.7

108.6

99.6

90.2

82.9

Goodwill

-

-

-

-

-

-

-

152.1

150.7

150.9

150.8

158.7

Other assets

0.5

0.7

0.7

0.8

0.8

1.0

1.0

9.4

10.3

2.8

2.7

6.6

Total assets

$

1,198.5

$

1,778.0

$

1,733.0

$

3,016.7

$

3,011.2

$

3,778.7

$

3,791.4

$

3,760.1

$

3,240.9

$

5,704.5

$

5,735.2

$

5,691.4

Liabilities, Redeemable Convertible Preferred Stock and Stockholders' Equity (Deficit)

Current liabilities:

Accounts payable

$

34.3

$

64.0

$

57.4

$

66.9

$

55.7

$

68.0

$

47.0

$

32.3

$

39.4

$

12.7

$

36.2

$

38.8

Insurance reserves

177.9

233.0

304.9

376.5

466.3

574.9

691.8

810.3

937.0

1,207.4

1,374.9

1,378.5

Accrued and other current liabilities

165.5

181.2

262.1

253.4

343.2

408.8

528.1

606.2

702.0

813.2

880.8

939.9

Operating lease liabilities - current

-

-

-

-

-

-

-

-

73.7

92.5

88.9

94.2

Total current liabilities

377.7

478.2

624.4

696.8

865.2

1,051.7

1,266.9

1,448.8

1,752.1

2,125.8

2,380.8

2,451.4

Operating lease liabilities

-

-

-

-

-

-

-

-

263.8

295.2

359.2

382.1

Other liabilities

10.1

11.4

13.1

15.3

19.4

19.8

24.3

30.5

4.6

6.3

5.7

3.9

Total liabilities

$

387.8

$

489.6

$

637.5

$

712.1

$

884.6

$

1,071.5

$

1,291.2

$

1,479.3

$

2,020.5

$

2,427.3

$

2,745.7

$

2,837.4

Redeemable convertible preferred stock

2,238.8

2,838.5

2,838.5

4,284.0

4,338.2

5,091.4

5,126.7

5,152.0

5,152.0

-

-

-

Stockholders' equity (deficit)

Preferred stock

-

-

-

-

-

-

-

-

-

-

-

-

Common stock

-

-

-

-

-

-

-

-

-

-

-

-

Additional paid in capital

45.7

49.6

51.9

55.6

58.7

63.2

70.2

73.9

150.0

7,999.7

8,176.4

8,398.9

Accumulated other comprehensive income

0.1

-

0.1

(1.0)

(2.0)

(0.2)

(0.3)

0.1

2.2

5.5

4.6

2.7

Accumulated deficit

(1,473.9)

(1,599.7)

(1,795.0)

(2,034.0)

(2,268.3)

(2,447.2)

(2,696.4)

(2,945.3)

(4,083.8)

(4,728.0)

(5,191.5)

(5,547.6)

Total stockholders' equity (deficit)

(1,428.1)

(1,550.1)

(1,743.0)

(1,979.4)

(2,211.6)

(2,384.2)

(2,626.5)

(2,871.3)

(3,931.6)

3,277.2

2,989.5

2,854.0

Total liabilities, redeemable convertible preferred

$

1,198.5

$

1,778.0

$

1,733.0

$

3,016.7

$

3,011.2

$

3,778.7

$

3,791.4

$

3,760.0

$

3,240.9

$

5,704.5

$

5,735.2

$

5,691.4

stock and stockholders' equity (deficit)

15

Condensed Consolidated Statement of Cash Flows

($ in Millions)

Cash flows from operating activities

Net loss

Adjustments to reconcile net loss to net cash used in operating activities: Depreciation and amortization

Stock-based compensation

Amortization of premium on marketable securities

Fiscal 2017

Fiscal 2018

Fiscal 2019

Q1

Q2

Q3

Q4

Total

Q1

Q2

Q3

Q4

Total

Q1

Q2

Q3

Q4

Total

$

(127.9)

$

(126.4)

$

(194.2)

$

(239.8)

$

(688.3)

$

(234.3)

$

(178.9)

$

(249.2)

$

(248.9)

$

(911.3)

$

(1,138.5)

$

(644.2)

$

(463.5)

$

(356.0)

$

(2,602.2)

0.5

0.6

0.7

0.8

2.6

1.2

1.7

2.6

13.3

18.8

23.1

31.1

30.1

24.0

108.3

2.1

2.5

1.9

3.0

9.5

2.0

1.5

2.9

2.2

8.6

859.5

293.2

242.2

204.4

1,599.3

0.1

0.2

0.3

0.3

0.9

0.2

0.2

0.1

-

0.5

-

0.1

0.2

0.3

0.6

Accretion of discount on marketable securities

(1.0)

(1.3)

(1.0)

(2.2)

(5.5)

(3.8)

(4.3)

(7.2)

(8.3)

(23.6)

(10.1)

(11.3)

(9.9)

(8.0)

(39.3)

Loss on disposal of assets

-

-

-

-

-

-

-

-

-

-

-

7.6

16.8

12.2

36.6

Other

-

-

-

-

-

-

0.3

-

0.7

1.0

0.1

(0.2)

0.9

(1.7)

(0.9)

Changes in operating assets and liabilities:

-

Prepaid expenses and other assets

(9.6)

(19.4)

(33.7)

(49.1)

(111.8)

(7.3)

(39.6)

(9.3)

(19.4)

(75.6)

(46.3)

(33.4)

(61.7)

21.9

(119.5)

Operating lease right-of-use assets

-

-

-

-

-

-

-

-

-

-

19.5

20.5

30.6

38.0

108.6

Accounts payable

(11.2)

29.7

(7.2)

10.1

21.4

(13.3)

11.2

(18.2)

(20.5)

(40.8)

1.2

(23.6)

21.7

5.8

5.1

Insurance reserves

45.9

55.1

71.9

71.7

244.6

89.7

108.6

116.9

118.5

433.7

126.7

270.4

167.6

3.5

568.2

Accrued and other liabilities

36.2

20.9

81.6

(5.7)

133.0

85.9

67.3

125.5

29.4

308.1

94.3

117.8

71.8

48.5

332.4

Lease liabilities

-

-

-

-

-

-

-

-

-

-

(14.3)

(12.7)

(36.8)

(39.1)

(102.9)

Net cash provided by (used in) operating activities

$

(64.9)

$

(38.1)

$

(79.7)

$

(210.9)

$

(393.6)

$

(79.7)

$

(32.0)

$

(35.9)

$

(133.0)

$

(280.6)

$

(84.8)

$

15.3

$

10.0

$

(46.2)

$

(105.7)

Cash flows from investing activities

Purchases of marketable securities

$

(249.0)

$

(698.8)

$

(402.9)

$

(1,208.7)

$

(2,559.4)

$

(1,198.2)

$

(1,676.5)

$

(1,476.2)

$

(1,103.3)

$

(5,454.2)

$

(607.2)

$

(2,974.6)

$

(1,254.4)

$

(1,612.7)

$

(6,448.9)

Purchase of term deposit

-

-

-

-

-

-

-

-

-

-

-

(105.0)

-

(37.8)

(142.8)

Proceeds from sales of marketable securities

102.1

396.7

159.0

214.5

872.3

181.7

503.7

142.5

72.5

900.4

466.2

180.9

246.3

199.6

1,093.0

Proceeds from maturities of marketable securities

53.5

294.1

193.7

166.4

707.7

200.5

1,096.0

1,630.6

911.4

3,838.5

838.2

553.2

1,264.9

1,414.9

4,071.2

Purchases of property and equipment and scooter fleet

(1.1)

(2.8)

(2.1)

(1.5)

(7.5)

(3.1)

(8.1)

(17.2)

(40.3)

(68.7)

(25.2)

(43.1)

(60.1)

(49.7)

(178.1)

Purchases of other intangible assets

-

-

(0.5)

(4.0)

(4.5)

-

(2.2)

-

-

(2.2)

-

-

-

-

-

Cash paid for acquisitions, net of cash acquired

-

-

-

-

-

-

-

-

(257.6)

(257.6)

(1.7)

(0.1)

-

(10.5)

(12.3)

Other investing activities

-

-

-

-

-

-

-

(28.0)

28.0

-

-

0.8

3.2

3.1

7.1

Net cash provided by (used in) investing activities

$

(94.5)

$

(10.8)

$

(52.8)

$

(833.3)

$

(991.4)

$

(819.1)

$

(87.1)

$

251.7

$

(389.3)

$

(1,043.8)

$

670.3

$

(2,387.9)

$

199.9

$

(93.1)

$

(1,610.8)

16

Condensed Consolidated Statement of Cash Flows (cont'd)

($ in Millions)

Fiscal 2017

Fiscal 2018

Fiscal 2019

Q1

Q2

Q3

Q4

Total

Q1

Q2

Q3

Q4

Total

Q1

Q2

Q3

Q4

Total

Cash flows from financing activities

Proceeds from issuance of common stock in initial public offering, net of underwriting

commissions, offering costs and reimbursements

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

-

$

(0.4)

$

(0.4)

$

(5.1)

$

2,489.3

$

(0.1)

$

(0.1)

$

2,484.0

Proceeds from issuance of redeemable convertible preferred stock, net of issuance costs

3.4

596.4

-

1,445.5

2,045.3

54.2

753.2

35.3

-

842.7

-

-

-

-

-

Proceeds from exercise of stock options and other common stock issuances

1.4

1.4

0.5

0.4

3.7

1.3

3.0

4.1

1.5

9.9

1.6

0.9

12.4

3.4

18.3

Proceeds from employee stock purchase plan

14.8

14.8

Taxes paid related to net share settlement of equity awards

-

-

-

-

-

-

-

-

-

-

(784.7)

(79.2)

(78.9)

(0.1)

(942.9)

Net cash provided by (used in) financing activities

$

4.8

$

597.8

$

0.5

$

1,445.9

$

2,049.0

$

55.5

$

756.2

$

39.4

$

1.1

$

852.2

$

(788.2)

$

2,411.0

$

(66.6)

$

18.0

$

1,574.2

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

-

-

-

-

-

-

(0.1)

-

(0.1)

(0.2)

0.1

0.2

(0.1)

0.1

0.3

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

(154.6)

548.9

(132.0)

401.7

664.0

(843.3)

637.0

255.2

(521.3)

(472.4)

(202.6)

38.6

143.2

(121.2)

(142.0)

Cash and cash equivalents and restricted cash and cash equivalents

514.9

360.3

909.2

777.2

514.9

1,178.9

335.6

972.6

1,227.8

1,178.9

706.5

503.9

542.5

685.7

706.5

Beginning of period

End of period

360.3

909.2

777.2

1,178.9

1,178.9

335.6

972.6

1,227.8

706.5

706.5

503.9

542.5

685.7

564.5

564.5

Reconciliation of cash, cash equivalents and restricted cash and cash equivalents to the

condensed consolidated balance sheets

Cash and cash equivalents

322.7

855.6

719.0

1,106.1

1,106.1

263.2

928.4

1,088.6

517.7

517.7

329.5

417.4

543.9

358.3

358.3

Restricted cash and cash equivalents

37.6

53.6

58.2

72.8

72.8

72.4

44.2

139.2

187.4

187.4

172.5

123.0

139.4

205.0

205.0

Restricted cash, included in prepaid expenses and other current assets

-

-

-

-

-

-

-

-

1.4

1.4

1.9

2.1

2.4

1.2

1.2

Total cash, cash equivalents and restricted cash and cash equivalents

$

360.3

$

909.2

$

777.2

$

1,178.9

$

1,178.9

$

335.6

$

972.6

$

1,227.8

$

706.5

$

706.5

$

503.9

$

542.5

$

685.7

$

564.5

$

564.5

17

Non-GAAP Condensed Consolidated Statement of Operations

($ in Millions, except per share)

Fiscal 2017

Fiscal 2018

Fiscal 2019

Q1

Q2

Q3

Q4

Total

Q1

Q2

Q3

Q4

Total

Q1

Q2

Q3

Q4

Total

Revenue

$

172.8

$

238.9

$

303.6

$

344.6

$

1,059.9

$

397.2

$

504.9

$

585.0

$

669.5

$

2,156.6

$

776.0

$

867.3

$

955.6

$

1,017.1

$

3,616.0

Cost of revenue

118.5

143.8

188.9

207.8

659.0

256.8

292.4

321.8

364.8

1235.8

391.1

468.4

476.4

467.6

1,803.5

Operating expenses

Operations and support

36.0

42.3

48.0

54.7

181.0

59.8

67.4

92.4

118.6

338.2

133.4

143.8

141.0

140.0

558.2

Research and development

22.9

27.6

36.6

47.1

134.2

62.4

63.9

75.9

92.3

294.5

107.6

121.9

129.5

142.9

501.9

Sales and marketing

84.3

107.3

165.2

209.8

566.6

168.6

175.0

241.0

218.4

803.0

227.0

168.4

155.3

186.9

737.6

General and administrative

39.8

46.1

62.4

69.4

217.7

89.0

97.5

118.7

135.1

440.3

146.8

190.8

202.4

226.9

766.9

Total costs and expenses

301.5

367.1

501.1

588.8

1,758.5

636.6

696.2

849.8

929.2

3,111.8

1,005.9

1,093.3

1,104.6

1,164.3

4,368.1

Non-GAAP loss from operations

(128.7)

(128.2)

(197.5)

(244.2)

(698.6)

(239.4)

(191.3)

(264.8)

(259.7)

(955.2)

(229.9)

(226.0)

(149.0)

(147.2)

(752.1)

Interest income

2.8

4.4

5.5

7.5

20.2

11.5

15.3

19.6

20.1

66.5

19.7

30.0

28.7

24.1

102.5

Other income (expense), net

-

0.1

-

0.2

0.3

(0.1)

(0.3)

0.4

0.7

0.7

0.1

(0.3)

0.6

(0.3)

0.1

Loss before income taxes

(125.9)

(123.7)

(192.0)

(236.5)

(678.1)

(228.0)

(176.3)

(244.8)

(238.9)

(888.0)

(210.1)

(196.3)

(119.7)

(123.4)

(649.5)

Provision (benefit) for income taxes

-

0.3

0.2

0.1

0.6

0.4

0.2

0.5

(0.4)

0.7

1.4

1.0

1.9

(2.0)

2.3

Adjusted net loss

$

(125.9)

$

(124.0)

$

(192.2)

$

(236.6)

$

(678.7)

$

(228.4)

$

(176.5)

$

(245.3)

$

(238.5)

$

(888.7)

$

(211.5)

$

(197.3)

$

(121.6)

$

(121.4)

$

(651.8)

Adjusted net loss per share, basic and diluted

$

(6.67)

$

(6.46)

$

(9.79)

$

(11.97)

$

(35.04)

$

(11.40)

$

(8.37)

$

(11.41)

$

(10.82)

$

(41.97)

$

(9.02)

$

(0.68)

$

(0.41)

$

(0.41)

$

(2.87)

Weighted-average shares used to compute adjusted net loss per share, basic and

18.9

19.2

19.6

19.8

19.4

20.0

21.1

21.5

22.0

21.2

23.5

288.4

294.8

299.6

227.5

diluted

18

GAAP to Non-GAAP Reconciliations

($ in Millions, except per share)

Fiscal 2017

Fiscal 2018

Fiscal 2019

Contribution

Q1

Q2

Q3

Q4

Total

Q1

Q2

Q3

Q4

Total

Q1

Q2

Q3

Q4

Total

$

172.8

$

238.9

$

303.6

$

344.6

$

1,059.9

$

397.2

$

504.9

$

585.0

$

669.5

$

2,156.6

$

776.0

$

867.3

$

955.6

$

1,017.1

$

3,616.0

Revenue

Less: cost of revenue

(118.6)

(143.9)

(189.0)

(208.0)

(659.5)

(260.6)

(293.2)

(322.6)

(367.0)

(1,243.4)

(462.9)

(630.1)

(580.7)

(502.8)

(2,176.5)

Amortization of intangible assets

-

-

-

-

-

0.3

0.7

0.6

2.1

3.7

5.3

5.3

5.3

3.6

19.5

Stock-based compensation expense

0.1

0.1

0.1

0.2

0.5

0.1

0.1

0.2

0.1

0.5

41.5

15.1

12.1

12.7

81.4

Payroll tax expense related to stock-based compensation

-

-

-

-

-

-

-

-

-

-

1.2

0.2

0.3

0.1

1.8

Changes to the liabilities for insurance required by regulatory agencies

-

-

-

-

-

3.4

-

-

-

3.4

23.8

141.1

86.6

18.8

270.3

Non-GAAP Contribution

$

54.3

$

95.1

$

114.7

$

136.8

$

400.9

$

140.4

$

212.5

$

263.2

$

304.7

$

920.8

$

384.9

$

398.9

$

479.2

$

549.5

$

1,812.5

Non-GAAP Contribution Margin

31.4%

39.8%

37.8%

39.7%

37.8%

35.3%

42.1%

45.0%

45.5%

42.7%

49.6%

46.0%

50.1%

54.0%

50.1%

Non-GAAP Operating Expenses

GAAP Operations and Support

$

(36.2)

$

(43.0)

$

(48.3)

$

(56.0)

$

(183.5)

$

(59.9)

$

(67.4)

$

(92.5)

$

(118.6)

$

(338.4)

$

(187.2)

$

(152.0)

$

(149.8)

$

(147.1)

$

(636.1)

Amortization of intangible assets

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Stock-based compensation expense

0.2

0.7

0.3

1.3

2.5

0.1

-

0.1

-

0.2

51.4

8.2

8.6

7.0

75.2

Payroll tax expense related to stock-based compensation

-

-

-

-

-

-

-

-

-

-

2.4

-

0.2

0.1

2.7

Non-GAAP Operations and Support

$

(36.0)

$

(42.3)

$

(48.0)

$

(54.7)

$

(181.0)

$

(59.8)

$

(67.4)

$

(92.4)

$

(118.6)

$

(338.2)

$

(133.4)

$

(143.8)

$

(141.0)

$

(140.0)

$

(558.2)

GAAP Research and Development

$

(23.5)

$

(28.2)

$

(37.2)

$

(47.7)

$

(136.6)

$

(63.1)

$

(64.4)

$

(77.2)

$

(96.1)

$

(300.8)

$

(631.0)

$

(309.8)

$

(288.3)

$

(276.6)

$

(1,505.7)

Amortization of intangible assets

-

-

-

-

-

-

-

0.2

2.0

2.2

2.9

2.9

2.9

3.0

11.7

Stock-based compensation expense

0.6

0.6

0.6

0.6

2.4

0.7

0.5

1.1

1.8

4.1

506.2

182.9

153.8

129.0

971.9

Payroll tax expense related to stock-based compensation

-

-

-

-

-

-

-

-

-

-

14.3

2.1

2.1

1.7

20.2

Non-GAAP Research and Development

$

(22.9)

$

(27.6)

$

(36.6)

$

(47.1)

$

(134.2)

$

(62.4)

$

(63.9)

$

(75.9)

$

(92.3)

$

(294.5)

$

(107.6)

$

(121.9)

$

(129.5)

$

(142.9)

$

(501.9)

GAAP Sales and Marketing

$

(84.4)

$

(107.4)

$

(165.3)

$

(209.9)

$

(567.0)

$

(168.7)

$

(175.1)

$

(241.1)

$

(218.9)

$

(803.8)

$

(275.1)

$

(181.0)

$

(163.9)

$

(194.2)

$

(814.2)

Amortization of intangible assets

-

-

-

-

-

-

-

-

0.5

0.5

0.3

0.3

0.3

0.3

1.2

Stock-based compensation expense

0.1

0.1

0.1

0.1

0.4

0.1

0.1

0.1

-

0.3

45.1

12.1

8.0

6.8

72.0

Payroll tax expense related to stock-based compensation

-

-

-

-

-

-

-

-

-

-

2.7

0.2

0.3

0.2

3.4

Non-GAAP Sales and Marketing

$

(84.3)

$

(107.3)

$

(165.2)

$

(209.8)

$

(566.6)

$

(168.6)

$

(175.0)

$

(241.0)

$

(218.4)

$

(803.0)

$

(227.0)

$

(168.4)

$

(155.3)

$

(186.9)

$

(737.6)

GAAP General and Administrative

$

(40.8)

$

(47.0)

$

(63.3)

$

(70.4)

$

(221.5)

$

(90.2)

$

(98.5)

$

(120.3)

$

(139.0)

$

(448.0)

$

(376.7)

$

(267.3)

$

(263.8)

$

(278.2)

$

(1,186.0)

Amortization of intangible assets

-

-

-

0.1

0.1

0.2

0.2

0.2

0.1

0.7

0.7

0.7

0.7

0.6

2.7

Stock-based compensation expense

1.0

0.9

0.9

0.9

3.7

1.0

0.8

1.4

0.3

3.5

215.3

74.9

59.7

48.9

398.8

Payroll tax expense related to stock-based compensation

-

-

-

-

-

-

-

-

-

-

13.9

0.9

1.0

0.8

16.6

Costs related to acquisitions

-

-

-

-

-

-

-

-

3.5

3.5

-

-

-

1.0

1.0

Non-GAAP General and Administrative

$

(39.8)

$

(46.1)

$

(62.4)

$

(69.4)

$

(217.7)

$

(89.0)

$

(97.5)

$

(118.7)

$

(135.1)

$

(440.3)

$

(146.8)

$

(190.8)

$

(202.4)

$

(226.9)

$

(766.9)

19

GAAP to Non-GAAP Reconciliations (cont'd)

($ in Millions, except per share)

Fiscal 2017

Fiscal 2018

Fiscal 2019

Q1

Q2

Q3

Q4

Total

Q1

Q2

Q3

Q4

Total

Q1

Q2

Q3

Q4

Total

GAAP Total Costs and Expenses

$

(303.5)

$

(369.5)

$

(503.1)

$

(592.0)

$

(1,768.1)

$

(642.5)

$

(698.6)

$

(853.7)

$

(939.6)

$

(3,134.4)

$

(1,932.9)

$

(1,540.2)

$

(1,446.5)

$

(1,398.9)

$

(6,318.5)

Amortization of intangible assets

-

-

-

0.1

0.1

0.5

0.9

1.0

4.7

7.1

9.2

9.2

9.2

7.5

35.1

Stock-based compensation expense

2.0

2.4

2.0

3.1

9.5

2.0

1.5

2.9

2.2

8.6

859.5

293.2

242.2

204.4

1,599.3

Payroll tax expense related to stock-based compensation

-

-

-

-

-

-

-

-

-

-

34.5

3.4

3.9

2.9

44.7

Changes to the liabilities for insurance required by regulatory agencies

-

-

-

-

-

3.4

-

-

-

3.4

23.8

141.1

86.6

18.8

270.3

Costs related to acquisitions

-

-

-

-

-

-

-

-

3.5

3.5

-

-

-

1.0

1.0

Non-GAAP Total Costs and Expenses

$

(301.5)

$

(367.1)

$

(501.1)

$

(588.8)

$

(1,758.5)

$

(636.6)

$

(696.2)

$

(849.8)

$

(929.2)

$

(3,111.8)

$

(1,005.9)

$

(1,093.3)

$

(1,104.6)

$

(1,164.3)

$

(4,368.1)

GAAP Loss from Operations

$

(130.7)

$

(130.6)

$

(199.5)

$

(247.4)

$

(708.2)

$

(245.3)

$

(193.7)

$

(268.7)

$

(270.1)

$

(977.8)

$

(1,156.9)

$

(672.9)

$

(490.9)

$

(381.8)

$

(2,702.5)

Amortization of intangible assets

-

-

-

0.1

0.1

0.5

0.9

1.0

4.7

7.1

9.2

9.2

9.2

7.5

35.1

Stock-based compensation expense

2.0

2.4

2.0

3.1

9.5

2.0

1.5

2.9

2.2

8.6

859.5

293.2

242.2

204.4

1,599.3

Payroll tax expense related to stock-based compensation

-

-

-

-

-

-

-

-

-

-

34.5

3.4

3.9

2.9

44.7

Changes to the liabilities for insurance required by regulatory agencies

-

-

-

-

-

3.4

-

-

-

3.4

23.8

141.1

86.6

18.8

270.3

Costs related to acquisitions

-

-

-

-

-

-

-

-

3.5

3.5

-

-

-

1.0

1.0

Non-GAAP Loss from Operations

$

(128.7)

$

(128.2)

$

(197.5)

$

(244.2)

$

(698.6)

$

(239.4)

$

(191.3)

$

(264.8)

$

(259.7)

$

(955.2)

$

(229.9)

$

(226.0)

$

(149.0)

$

(147.2)

$

(752.1)

GAAP Net Loss

$

(127.9)

$

(126.4)

$

(194.2)

$

(239.8)

$

(688.3)

$

(234.3)

$

(178.9)

$

(249.2)

$

(248.9)

$

(911.3)

$

(1,138.5)

$

(644.2)

$

(463.5)

$

(356.0)

$

(2,602.2)

Amortization of intangible assets

-

-

-

0.1

0.1

0.5

0.9

1.0

4.7

7.1

9.2

9.2

9.2

7.5

35.1

Stock-based compensation expense

2.0

2.4

2.0

3.1

9.5

2.0

1.5

2.9

2.2

8.6

859.5

293.2

242.2

204.4

1,599.3

Payroll tax expense related to stock-based compensation

-

-

-

-

-

-

-

-

-

-

34.5

3.4

3.9

2.9

44.7

Changes to the liabilities for insurance required by regulatory agencies

-

-

-

-

-

3.4

-

-

-

3.4

23.8

141.1

86.6

18.8

270.3

Costs related to acquisitions

-

-

-

-

-

-

-

-

3.5

3.5

-

-

-

1.0

1.0

Adjusted Net Loss

$

(125.9)

$

(124.0)

$

(192.2)

$

(236.6)

$

(678.7)

$

(228.4)

$

(176.5)

$

(245.3)

$

(238.5)

$

(888.7)

$

(211.5)

$

(197.3)

$

(121.6)

$

(121.4)

$

(651.8)

Adjusted net loss per share, basic and diluted

$

(6.67)

$

(6.46)

$

(9.79)

$

(11.97)

$

(35.04)

$

(11.40)

$

(8.37)

$

(11.41)

$

(10.82)

$

(41.97)

$

(9.02)

$

(0.68)

$

(0.41)

$

(0.41)

$

(2.87)

Weighted-average shares used to compute adjusted net loss per share, basic

18.9

19.2

19.6

19.8

19.4

20.0

21.1

21.5

22.0

21.2

23.5

288.4

294.8

299.6

227.5

and diluted

Reconciliation of Net Loss to Non-GAAP Adjusted EBITDA

GAAP Net Loss

($127.9)

($126.4)

($194.2)

($239.8)

($688.3)

($234.3)

($178.9)

($249.2)

($248.9)

($911.3)

($1,138.5)

($644.2)

($463.5)

($356.0)

($2,602.2)

Adjusted to exclude the following

Interest income

(2.8)

(4.4)

(5.5)

(7.5)

(20.2)

(11.5)

(15.3)

(19.6)

(20.1)

(66.5)

(19.7)

(30.0)

(28.7)

(24.1)

(102.5)

Other income (expense), net

-

(0.1)

-

(0.2)

(0.3)

0.1

0.3

(0.4)

(0.7)

(0.7)

(0.1)

0.3

(0.6)

0.3

(0.1)

Depreciation and amortization

0.5

0.6

0.7

0.8

2.6

1.2

1.7

2.6

13.3

18.8

23.1

31.1

30.1

24.0

108.3

Provision for income taxes

-

0.3

0.2

0.1

0.6

0.4

0.2

0.5

(0.4)

0.7

1.4

1.0

1.9

(2.0)

2.3

Costs related to acquisitions

-

-

-

-

-

-

-

-

3.5

3.5

-

-

-

1.0

1.0

Stock-based compensation expense

2.0

2.4

2.0

3.1

9.5

2.0

1.5

2.9

2.2

8.6

859.5

293.2

242.2

204.4

1,599.3

Payroll tax expense related to stock-based compensation

-

-

-

-

-

-

-

-

-

-

34.5

3.4

3.9

2.9

44.7

Changes to the liabilities for insurance required by regulatory agencies

-

-

-

-

-

3.4

-

-

-

3.4

23.8

141.1

86.6

18.8

270.3

attributable to historical periods

Adjusted EBITDA

($128.2)

($127.6)

($196.8)

($243.5)

($696.1)

($238.7)

($190.5)

($263.2)

($251.1)

($943.5)

($216.0)

($204.1)

($128.1)

($130.7)

($678.9)

Adjusted EBITDA Margin

(74.2%)

(53.4%)

(64.8%)

(70.7%)

(65.7%)

(60.1%)

(37.7%)

(45.0%)

(37.5%)

(43.7%)

(27.8%)

(23.5%)

(13.4%)

(12.9%)

(18.8%)

20

Reconciliation of GAAP to Non-GAAP Financial Measures

($ in Millions)

Three Months Ended December 31,

2019

2018

Contribution

Revenue

$

1,017.1

$

669.5

Less cost of revenue

(502.8)

(367.0)

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

Amortization of intangible assets

3.6

2.1

Stock based compensation expense

12.7

0.1

Payroll tax expense related to stock-based compensation

0.1

-

Changes to the liabilities for insurance required by regulatory

agencies attributable to historical periods

18.8

-

Contribution

$

549.5

$

304.7

Contribution Margin

54.0%

45.5%

Three Months Ended December 31,

2019

2018

Adjusted EBITDA

Net loss

$

(356.0)

$

(248.9)

Adjusted to exclude the following:

Interest income

(24.1)

(20.1)

Other (income) expense, net

0.3

(0.7)

Provision for income taxes

(2.0)

(0.4)

Depreciation and amortization

24.0

13.3

Costs related to acquisitions

1.0

3.5

Stock-based compensation expense

204.4

2.2

Payroll tax expense related to stock-based compensation

2.9

-

Changes to the liabilities for insurance required by regulatory

agencies attributable to historical periods

18.8

-

Adjusted EBITDA

$

(130.7)

$

(251.1)

Adjusted EBITDA Margin

(12.9%)

(37.5%)

Three Months Ended December 31,

2019

2018

Adjusted Net Loss

Net loss

$

(356.0)

$

(248.9)

Adjusted to exclude the following:

Amortization of intangible assets

7.5

4.7

Stock-based compensation expense

204.4

2.2

Payroll tax expense related to stock-based compensation

2.9

-

Changes to the liabilities for insurance required by regulatory

agencies attributable to historical periods

18.8

-

Cost related to acquisitions

1.0

3.5

Adjusted Net Loss

$

(121.4)

$

(238.5)

21

Reconciliation of GAAP to Non-GAAP Financial Measures (cont'd)

($ in Millions)

Year Ended December 31,

2019

2018

Contribution

Revenue

$

3,616.0

$

2,156.6

Less cost of revenue

(2,176.5)

(1,243.4)

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

Amortization of intangible assets

19.5

3.7

Stock based compensation expense

81.4

0.5

Payroll tax expense related to stock-based compensation

1.8

-

Changes to the liabilities for insurance required by regulatory

agencies attributable to historical periods

270.3

3.4

Contribution

$

1,812.5

$

920.8

Contribution Margin

50.1%

42.7%

Year Ended December 31,

2019

2018

Adjusted EBITDA

Net loss

$

(2,602.2)

$

(911.3)

Adjusted to exclude the following:

Interest income

(102.5)

(66.5)

Other (income) expense, net

(0.1)

(0.7)

Provision for income taxes

2.3

0.7

Depreciation and amortization

108.3

18.8

Costs related to acquisitions

1.0

3.5

Stock-based compensation expense

1,599.3

8.6

Payroll tax expense related to stock-based compensation

44.7

-

Changes to the liabilities for insurance required by regulatory

agencies attributable to historical periods

270.3

3.4

Adjusted EBITDA

$

(678.9)

$

(943.5)

Adjusted EBITDA Margin

(18.8%)

(43.7%)

Year Ended December 31,

2019

2018

Adjusted Net Loss

Net loss

$

(2,602.2)

$

(911.3)

Adjusted to exclude the following:

Amortization of intangible assets

35.1

7.1

Stock-based compensation expense

1,599.3

8.6

Payroll tax expense related to stock-based compensation

44.7

-

Changes to the liabilities for insurance required by regulatory

agencies attributable to historical periods

270.3

3.4

Cost related to acquisitions

1.0

3.5

Adjusted Net Loss

$

(651.8)

$

(888.7)

22

Thank you

February 11, 2020

Attachments

  • Original document
  • Permalink

Disclaimer

Lyft Inc. published this content on 11 February 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 February 2020 08:58:07 UTC