Lyft files for Initial Public Offering (IPO), to give $10,000 bonus to certain drivers

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Lyft plans to give the bonuses to eligible drivers on or about March 19, 2019. They have the option to use their bonuses to purchase shares in its directed share program.

Lyft financial performance

Lyft generates most of its revenue from the service fees and commissions it collects from drivers using its ride-sharing marketplace.

The company disclosed that its revenue in 2018 was $2.2 billion, an increase of 103% from $1.1 billion in 2017 and up 209% from $343.3 million in 2016.

Its bookings were $8.1 billion in 2018, up 76% from $4.6 billion in 2017 and 76% from $1.9 billion in 2016.

Lyft stated that its net losses were $911.3 million in 2018, $688.3 million in 2017 and $682.8 million in 2016.

“We have incurred net losses each year since our inception and we may not be able to achieve or maintain profitability in the future,” stated the company under its list of risk factors.

Brand awareness and long-term growth indicator

Since 2016, the company’s Active Riders, a key indicator of its brand awareness and long-term revenue growth potential, grew quarter-over-quarter. It Active Riders were rose from $3.5 million in the first quarter of 2016 to $18.6 million in the fourth quarter last year.