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Mar 31, 2020
Lyft Q1 2020 Earnings Report
Lyft's Q1 2020 revenue increased year-over-year, and the company reduced its adjusted EBITDA loss.
Key Takeaways
Lyft's Q1 2020 showed revenue growth of 23% year-over-year, reaching $955.7 million. The company also significantly reduced its net loss and adjusted EBITDA loss compared to the same period in 2019.
Lyft's Q1 revenue reached $955.7 million, a 23% increase year-over-year.
The company's net loss for Q1 was $398.1 million, an improvement from the $1.1 billion loss in Q1 2019.
Lyft reported a Q1 adjusted EBITDA loss of $85.2 million, compared to $216.0 million in Q1 2019.
Lyft ended the quarter with $2.7 billion in unrestricted cash, cash equivalents, and short-term investments.
Lyft
Lyft
Forward Guidance
Lyft anticipates removing approximately $300 million from its annual expense run-rate by the fourth quarter of 2020, relative to original expectations.
Positive Outlook
- Aggressive cost reduction plan
- Leaner expense structure
- Improved operating efficiency
- Commitment to culture and values
- Competitive resilience
Challenges Ahead
- COVID-19 pandemic impact
- Uncertain economic environment
- Potential for reduced demand
- Risks related to forecasting performance
- Dependence on business and government responses