Developing financial analysis

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P&L

Lyft, Inc. Profit & Loss Statement
All numbers in thousands
		Year Ended December 31
		2017	2018
Gross Revenue		$1,059,881	$2,156,616
Deductions		$0	$0
Net Revenue		$1,059,881	$2,156,616
Cost of revenue (COGS)		$659,533	$1,243,400
Gross Profit		$400,348	$913,216
Other Costs and expenses
	Operations and support	$183,513	$338,402
	Research and development	$136,646	$300,836
	Marketing	$567,015	$803,751
	General and administrative	$221,446	$447,938
Total other costs and expenses		$1,108,620	$1,890,927
Earnings Before Interest and Taxes		($708,272)	($977,711)
Other Income
	Interest income, net	$20,243	$66,462
	Other income, net	$284	$652
Loss before income taxes		($687,745)	($910,597)
Provision for income taxes		$556	$738
Net lncome		($688,301)	($911,335)

Balance Sheet

Lyft, Inc. Balance Sheet
All numbers in thousands
			December 31
			2017	2018
Assets
Current assets
	Cash and cash equivalents		$1,106,102	$517,690
	Short-term investments		$1,284,642	$1,520,180
	Prepaid expenses and other current assets		$172,951	$282,572
		Total current assets	$2,563,695	$2,320,442
Property and equipment, net			$14,208	$109,257
Goodwill			$0	$152,085
Intangible assets, net			$4,349	$117,733
Restricted cash and cash equivalents			$72,817	$187,374
Restricted investments			$360,882	$863,713
Other assets			$776	$9,439
		Total assets	$3,016,727	$3,760,043
Liabilities
Current liabilities
	Accounts payable		$66,874	$32,343
	Insurance reserves		$376,538	$810,273
	Accrued and other current liabilities		$253,406	$606,203
		Total current liabilities	$696,818	$1,448,819
Other liabilities			$15,298	$30,458
		Total liabilities	$712,116	$1,479,277
Owner's Stock and Equity (Deficit)
Redeemable convertible preferred stock			$4,284,049	$5,152,047
Stockholders’ equity (deficit)
	Additional paid-in capital		$55,568	$73,916
	Accumulated other comprehensive income (loss)		($1,011)	$133
	Accumulated deficit		($2,033,995)	($2,945,330)
		Total stockholders’ equity (deficit)	($1,979,438)	($2,871,281)
Total liabilities, redeemable convertible preferred stock and stockholders’ equity (deficit)			$3,016,727	$3,760,043

Cash Flows

Lyft, Inc. Statement of Cas Flows
All numbers in thousands
				December 31
Cash flows from operating activities				2017	2018
Net loss				($688,301)	($911,335)
Adjustments to reconcile net loss to net cash used in operating activities
	Depreciation and amortization			$2,611	$18,752
	Stock-based compensation			$9,546	$8,577
	Amortization of premium on marketable securities			$948	$473
	Accretion of discount on marketable securities			($5,542)	($23,605)
	Other			$0	$989
	Changes in operating assets and liabilities
		Prepaid expenses and other assets		($111,772)	($75,640)
		Accounts payable		$21,384	($40,811)
		Insurance reserves		$244,587	$433,735
		Accrued and other liabilities		$133,013	$308,192
			Net cash used in operating activities	($393,526)	($280,673)
Cash flows from investing activities
Purchases of marketable securities				($2,559,423)	($5,454,118)
Proceeds from sales of marketable securities				$872,298	$900,361
Proceeds from maturities of marketable securities				$707,722	$3,838,464
Cash paid for acquisitions, net of cash acquired				$0	($257,591)
Purchases of property and equipment and scooter fleet				($7,537)	($68,668)
Purchases of other intangible assets				($4,486)	($2,200)
			Net cash used in investing activities	($991,426)	($1,043,752)
Cash flows from financing activities
Proceeds from issuance of redeemable convertible preferred stock				$2,045,279	$842,658
Proceeds from exercise of stock options and other common stock issuances				$3,672	$9,986
Payment of deferred offering costs				$0	($406)
			Net cash provided by financing activities	$2,048,951	$852,238
Effect of foreign exchange on cash, cash equivalents and restricted cash				$0	($246)
Net increase (decrease) in cash				$663,999	($472,433)
Cash, cash equivalents and restricted cash and cash equivalents
Beginning of year				$514,920	$1,178,919
End of year				$1,178,919	$706,486

Company Specific Metrics

Lyft, Inc. Company Specific Metrics
All numbers in millions except Revenue per Active Rider
	Three Months Ended
	Mar. 31,	June 30,	Sept. 30,	Dec. 31,	Mar. 31,	June 30,	Sept. 30,	Dec. 31,	Mar. 31,	June 30,	Sept. 30,	Dec. 31,
	2016	2016	2016	2016	2017	2017	2017	2017	2018	2018	2018	2018
Active Riders	3.5	4.5	5.7	6.6	8.1	9.4	11.4	12.6	14.0	15.5	17.4	18.6
Revenue per Active Rider	$15.88	$14.11	$18.03	$18.53	$21.42	$25.29	$26.59	$27.34	$28.27	$32.67	$33.65	$36.04
Rides	29.0	36.5	44.3	52.6	70.4	85.8	103.1	116.3	132.5	146.3	162.2	178.4