Lyft (LYFT) FY2021 results: revenue $3.2 billion, up 35.7% on the year

Lyft, Inc. (LYFT) reported revenue of $3.2 billion for fiscal 2021, the year ended 31 December 2021, up 35.7% on the year before. Net income was -$1.1 billion, and diluted earnings per share $-3.17. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2022.

Revenue

$3.2 billion

+35.7% on the year

FY2017FY2021

Operating margin

-35.4%

-76.5% a year earlier

FY2017FY2021

Net income

-$1.1 billion

FY2017FY2021

Diluted EPS

-$3.17

FY2017FY2021

this yearthe year beforeHover a bar for its figure.

The year in brief

The quarters: Q4 FY2021

Income statement (profit and loss)

$ million	FY2021	FY2020	FY2019	On the year
Revenue	3,208	2,365	3,616	+35.7%
Cost of revenue	1,702	1,448	2,176	+17.6%
Gross profit	1,506	917	1,439	+64.2%
Gross margin	46.9%	38.8%	39.8%
Research and development	912	909	1,506	+0.3%
Operating income	-1,135	-1,808	-2,702
Operating margin	-35.4%	-76.5%	-74.7%
Interest expense	51.6	32.7	0.0	+58.0%
Pre-tax income	-1,051	-1,797	-2,600
Income tax	11.2	-44.5	2.4
Net income	-1,062	-1,753	-2,602
Net margin	-33.1%	-74.1%	-72.0%
Diluted EPS	-$3.17	-$5.61	-$11.44

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	FY2021	FY2020	FY2019	On the year
Operating cash flow	-102	-1,379	-106
Cash from investing	267	740	-1,611	-63.9%
Cash from financing	-72.5	513	1,574
Depreciation and amortisation	139	157	108	-11.4%
Share-based compensation	725	566	1,599	+28.1%
Diluted shares, weighted	335m	312m	227m	+7.2%
Shares outstanding at period end	n/a	n/a	0

Balance sheet

$ million	FY2021	FY2020	FY2019	On the year
Shareholders' equity	1,341	1,676	2,854	-20.0%
Redeemable equity	n/a	n/a	0.0
Debt	711	680	0.0	+4.6%
Operating lease liabilities	210	266	382	-20.9%
Finance lease liabilities	14.2	6.6	0.0	+116.0%
Other liabilities	2,497	2,050	2,455	+21.8%
Total liabilities and equity	4,774	4,679	5,691	+2.0%
Fixed assets	n/a	n/a	189
Goodwill	181	183	159	-1.2%
Intangible assets	50.8	65.8	82.9	-22.9%
Investments	1,797	1,931	2,492	-7.0%
Cash and equivalents	457	320	358	+43.0%
Other assets	2,289	2,179	2,411	+5.0%
Total assets	4,774	4,679	5,691	+2.0%

10-K for the year ended 31 December 2021, filed 28 February 2022: the filing.