Lyft Results Presentation Deck
GAAP to Non-GAAP Reconciliations
($ in millions)
Reconciliation of Contribution
Revenue
(1)
Less: cost of revenue
Gross profit
Gross profit margin
Adjusted to exclude the following (as related to cost of revenue):
Amortization of intangible assets
Stock-based compensation expense
Non-GAAP Cost of Revenue
Payroll tax expense related to stock-based compensation
Net amount from claims ceded under the Reinsurance
Agreement¹
Transaction costs rel. to certain legacy auto insurance liabilities
Sublease income²
Restructuring charges³
Non-GAAP Cost of Revenue as % of Revenue
(2)
(3)
Contribution (Non-GAAP)
Contribution Margin (Non-GAAP)
Note:
Fiscal 2021
Total
$3,208.3
(1,702.3)
1,506.0
46.9%
11.0
39.5
1.8
52.8
20.2
$ (1,577.0)
(49.2%)
$ 1,631.3
50.8%
Q1
$875.6
(440.3)
435.3
49.7%
1.2
9.9
0.8
55.3
$ (373.1)
(42.6%)
$502.5
57.4%
Q2
$990.7
(650.4)
340.4
34.4%
1.2
10.1
0.2
(36.8)
$ (675.7)
(68.2%)
$ 315.1
31.8%
Fiscal 2022
Q3
$1,053.8
(570.7)
483.1
45.8%
1.2
13.0
0.2
$ (556.3)
(52.8%)
$ 497.5
47.2%
Q4
$ 1,175.0
(774.4)
400.6
34.1%
1.2
11.1
0.1
1.6
$ (760.3)
(64.7%)
$ 414.7
35.3%
Total
$ 4,095.1
(2,435.7)
1,659.4
40.5%
5.0
44.1
1.2
18.5
1.6
$ (2,365.4)
(57.8%)
$1,729.8
42.2%
Q1
$1,000.5
(549.0)
451.6
45.1%
1.2
10.8
0.4
1.1
$ (535.4)
(53.5%)
$ 465.1
46.5%
Fiscal 2023
Q2
$1,020.9.
(606.6)
414.3
40.6%
1.2
7.5
0.2
3.1
$ (594.5)
(58.2%)
$ 426.4
41.8%
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. In the second quarter of 2022, we recorded a $36.8 million gain under cost of revenue on the condensed consolidated statement of operations related to a transaction
which effectively commuted and settled 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. There has been no sublease income allocated to cost of revenue through September 30, 2023.
Included in restructuring charges is $3.1 million of severance and other employee costs due to the restructuring plan announced in April 2023. In the first quarter of 2023 and fourth quarter of 2022, we incurred restructuring charges of
$1.1 million and $1.6 million, respectively, of severance and other employee costs due to ongoing transformational initiatives announced in the November 2022 restructuring plan.
Due to rounding, numbers presented may not add up precisely to the totals provided.
Q3
$ 1,157.6
(644.5)
513.0
44.3%
1.2
5.6
0.1
$ (637.6)
(55.1%)
$ 520.0
44.9%
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