Loading...
•
Mar 31, 2022
Lyft Q1 2022 Earnings Report
Lyft's Q1 2022 financial results were announced, revealing a year-over-year revenue increase and a narrowed net loss.
Key Takeaways
Lyft's Q1 2022 showed strong performance with revenue reaching $875.6 million, a 44% increase year-over-year. The company also narrowed its net loss to $196.9 million and achieved an Adjusted EBITDA profit of $55 million.
Q1 revenue reached $875.6 million, reflecting a 44% year-over-year growth.
Net loss significantly narrowed by $230 million compared to Q1 2021.
Adjusted EBITDA was profitable at $55 million.
Rideshare ride volumes reached a new COVID high.
Lyft
Lyft
Forward Guidance
Lyft expects to strategically invest in key business initiatives to support continued growth. The company anticipates improvements in service levels to benefit the business in the near-term and to support increasing demand over the long-term.
Positive Outlook
- Continued improvements in service levels.
- Strategic investments in key business initiatives.
- Positioned to support increasing demand over the long-term.
- Focus on improving transportation.
- Aiming to improve people’s lives with the world’s best transportation.
Challenges Ahead
- Risks related to the ongoing impact of the COVID-19 pandemic on business and operations.
- Risks regarding ability to forecast performance due to limited operating history and the COVID-19 pandemic.
- Potential for actual results to differ materially from projected results.
- Impact of business and government responses to the pandemic.
- Uncertainties described in Lyft's filings with the SEC.