- General
- March 2, 2019
- 7 minutes read
Lyft Records $2.2 Billion 2018 Revenue, And Near $1 Billion Loss
image : Lyft According to an S-1 filing unveiled by Lyft ahead of its IPO, the company recorded some $2.2 billion…
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| image : Lyft |
According to an S-1 filing unveiled by Lyft ahead of its IPO, the company recorded some $2.2 billion in 2018 revenue, up from $1.1 billion in 2017 and $343 million in 2016, with net loss of $911 million, $688 million and $682 million for 2018, 2017 and 2016 respectively. This signals high revenue jump, around 100% – from the previous year – in 2018, but amid increasing losses.
The filing also reveals the company had 18.6 million active riders and more than 1 billion total rides made on its platform as of Q4 2018. Gross bookings for the year stood at $8.1 billion, across its 300+ markets in the US and Canada. The company also says drivers have earned some $10 billion on its platform since rides began.
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| image : Lyft |
Some key statistics made known by Lyft include :
- More than 1.1 million active riders (Q4 2018)
- 34% of its drivers over the age of 45
- 35,000 rides -facilitated by Lyft – made in Aptiv autonomous vehicles
- 47% increase in active riders in Q4 2018
- 14% of riders using Lyft to connect to public transit
- Cash and cash equivalents of $518 million as of Q4 2018
- $36.04 average revenue per active rider
- 619 million total rides in 2018, up from 376 million in 2017 and 162 million in 2016
- 75.6% growth rate in bookings in 2018
- 28.7% of gross bookings recorded as revenue as of Q4 2018, up from 23.4% as of Q4 2017 and 19.6% as of Q4 2016
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| Lyft co-founder and president John Zimmer
Photograph by Stuart Isett / Fortune Brainstorm Tech
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The company has also confirmed it’ll pay a one-time cash bonus of $1,000 to drivers who have completed at least 10,000 rides on its platform, $10,000 to those who have completed at least 20,000 rides, and $1,000 to those who are serving on or have served on its Driver Advisory Council, in sync with a previous report.
Lyft is expected to make its public market debut this month, beating rival Uber as the first to taste this path in the ride-hailing industry. Uber too is expected to go public this year, but at a yet unspecified time.
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