Lyft (LYFT) FY2022 results: revenue $4.1 billion, up 27.6% on the year

Lyft, Inc. (LYFT) reported revenue of $4.1 billion for fiscal 2022, the year ended 31 December 2022, up 27.6% on the year before. Net income was -$1.6 billion, and diluted earnings per share $-4.47. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2023.

Revenue

$4.1 billion

+27.6% on the year

FY2017FY2022

Operating margin

-35.6%

-35.4% a year earlier

FY2017FY2022

Net income

-$1.6 billion

FY2017FY2022

Diluted EPS

-$4.47

FY2017FY2022

this yearthe year beforeHover a bar for its figure.

The year in brief

The four quarters: Q1 FY2022 · Q2 FY2022 · Q3 FY2022 · Q4 FY2022

Income statement (profit and loss)

$ million	FY2022	FY2021	FY2020	On the year
Revenue	4,095	3,208	2,365	+27.6%
Cost of revenue	2,436	1,702	1,448	+43.1%
Gross profit	1,659	1,506	917	+10.2%
Gross margin	40.5%	46.9%	38.8%
Research and development	857	912	909	-6.0%
Operating income	-1,459	-1,135	-1,808
Operating margin	-35.6%	-35.4%	-76.5%
Interest expense	19.7	51.6	32.7	-61.8%
Pre-tax income	-1,579	-1,051	-1,797
Income tax	5.9	11.2	-44.5	-47.7%
Net income	-1,585	-1,062	-1,753
Net margin	-38.7%	-33.1%	-74.1%
Diluted EPS	-$4.47	-$3.17	-$5.61

$ 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	FY2022	FY2021	FY2020	On the year
Operating cash flow	-237	-102	-1,379
Cash from investing	186	267	740	-30.3%
Cash from financing	-87.5	-72.5	513
Depreciation and amortisation	155	139	157	+11.1%
Share-based compensation	751	725	566	+3.6%
Buybacks	0.0	n/a	n/a
Diluted shares, weighted	355m	335m	312m	+6.0%

Balance sheet

$ million	FY2022	FY2021	FY2020	On the year
Shareholders' equity	389	1,341	1,676	-71.0%
Debt	839	711	680	+18.0%
Operating lease liabilities	176	210	266	-16.1%
Finance lease liabilities	19.9	14.2	6.6	+39.9%
Other liabilities	3,132	2,497	2,050	+25.4%
Total liabilities and equity	4,556	4,774	4,679	-4.6%
Goodwill	262	181	183	+44.9%
Intangible assets	76.2	50.8	65.8	+50.1%
Investments	1,516	1,797	1,931	-15.6%
Cash and equivalents	281	457	320	-38.5%
Other assets	2,422	2,289	2,179	+5.8%
Total assets	4,556	4,774	4,679	-4.6%

10-K for the year ended 31 December 2022, filed 27 February 2023: the filing.