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Mar 31, 2021
Lyft Q1 2021 Earnings Report
Lyft reported strong Q1 2021 results, exceeding expectations due to increased demand and ongoing recovery.
Key Takeaways
Lyft's Q1 2021 revenue reached $609.0 million, a 7% increase quarter-over-quarter. The company reported a net loss of $427.3 million, including significant stock-based compensation and insurance-related expenses. Adjusted EBITDA loss improved to $73.0 million. The company had $2.2 billion in unrestricted cash, cash equivalents, and short-term investments at the end of the quarter.
Q1 revenue increased by 7% quarter-over-quarter to $609.0 million.
Net loss was $427.3 million, including $180.7 million in stock-based compensation and $128.0 million related to insurance liabilities.
Adjusted EBITDA loss improved to $73.0 million, significantly better than the company's outlook.
Lyft reported $2.2 billion in unrestricted cash, cash equivalents, and short-term investments.