Lyft Results Presentation Deck
GAAP to Non-GAAP Reconciliations (cont.)
($ in millions)
Reconciliation of Net Loss to Non-GAAP Adjusted EBITDA
GAAP Net Loss
Adjusted for the following
Interest expense
(1)
Other (income) expense, net
Provision for (benefit from) income taxes
Depreciation and amortization
Stock-based compensation expense
Payroll tax expense related to stock-based compensation
Net amount from claims ceded under the Reinsurance Agreement
Sublease income (3)
Costs related to acquisitions and divestitures
Transaction costs rel. to certain legacy auto insurance liabilities
Restructuring charges(4)
Adjusted EBITDA
(1)
(2)
(3)
(4)
Note:
(2)
Q1
(427.3) $
12.9
(3.6)
1.9
34.4
164.2
16.5
(201.0) $
Q2
Fiscal 2021
(251.9) $
13.1
(1.7)
0.7
34.5
201.0
6.8
0.9
20.4
23.8 $
Q3
(99.7) $
13.4
(125.0)
6.6
37.0
198.4
4.9
28.2
2.9
0.6
67.3 $
Q4
(283.2) $
13.3
(5.5)
2.0
33.3
160.9
3.3
24.6
3.7
(47.6) $
Q1
(196.9) $
4.7
(9.8)
2.8
31.8
153.7
9.5
55.3
3.7
54.8 $
Q2
Fiscal 2022
(377.2) $
5.2
(1.0)
0.1
29.1
176.6
2.5
(36.8)
3.8
1.4
(196.3) $
Q3
(422.2) $
5.3
126.2
0.6
35.9
221.0
3.1
2.6
0.9
(26.7) $
Q4
(588.1)
5.6
(15.5)
2.4
58.0
199.4
1.9
1.5
86.6
(248.3)
Other income (expense), net includes (i) a benefit from a pre-tax gain from the divestiture relating to our self-driving vehicle division, Level 5 in Q2'21 and (ii) $135.7 million in impairment charges related to the wind down of an equity
investee in Q3'22, which included the impairments of a non-marketable equity investment and other assets.
Reflects the net amount recognized on the statement of operations associated with claims ceded under the Reinsurance agreement, including any losses related to the deferral of gains on the statement of operations and any benefit
from the amortization of the deferred gain in the same period. For transparency, to help investors understand the ultimate economic benefit of the Reinsurance Agreement, we have broken out "Net amount of claims ceded under the
Reinsurance Agreement."
For the GAAP income statement, sublease income is included as other income while the related lease rent expense is included in its respective operating expense line item. For non-GAAP purposes, sublease income is presented as a
contra-expense to the related lease rent expense.
Included in restructuring charges is $29.2 million of severance and other employee costs and $57.4 million related to lease impairments and other restructuring costs. In addition, restructuring-related charges for stock-based
compensation of $9.5 million, payroll taxes related to stock-based compensation of $0.3 million and accelerated depreciation of $23.9 million are included on their respective line items.
Due to rounding, numbers presented may not add up precisely to the totals provided.
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