Lyft IPO Filing Shows Surging Revenue, Widening Losses – MotorTrend

SAN FRANCISCO, March 1 (Reuters) – Lyft Inc inched closer to becoming the first ride-hailing company to make a stock market debut by releasing its filing for an initial public offering on Friday, revealing to the public a detailed look at its financial performance.

The filing with U.S. securities regulators makes it all but certain that Lyft will hold its IPO ahead of larger rival Uber Technologies Inc, as it was one of the few remaining tasks before the company can launch a roadshow to pitch prospective investors.

Lyft’s revenue was $2.16 billion for 2018, double the previous year and up 528 percent from 2016, according to the documents.

Its gross bookings, or the total value of the rides it sells before driver pay is deducted, reached $8.05 billion last year, 76 percent above the prior year and 323 percent above 2016 bookings.

But the company has been operating with heavy losses. It posted a loss of $911 million for 2018, which climbed from $688 million in 2017 and $682 million in 2016, according to the filing.



Ad Time Remaining:

Up Next

CANCEL

NEXT UP SORT BY

Recent
Trending

7 Reasons Why the 2020 Porsche 911 Is a Fully Modern Machine

Behind the Wheel: Driving the New 3 Series, the Soul of BMW

9 Reasons Why the BAC Mono Is the Most Extreme Road Car Ever

Driving Ram’s Hot Half-Ton Off-Road Truck, the Rebel

Behind the Wheel: The 2019 Honda Passport

7 Reasons Why: This ’55 Chevy 210 Is a Two-time HOT ROD Cover Car

Walk the Shop: How Bisimoto Engineers Its Dream Cars

9 Reasons Why the Honda Passport Is Adventure-Ready

Jonny Lieberman Drives the New 8-Series—the Ultimate BMW Coupe

9 Reasons Why You Need a Jeep Gladiator

Behind the Wheel: Driving BMW’s All-New Z4 Roadster

7 Reasons Why the McLaren 570S Spider Is the Best 570S

Rare Metals: The Mooneyes Christmas Show

7 Reasons Why the SpeedKore Evolution Is a Carbon-Fiber Masterpiece

Behind the Wheel: Driving the First-Ever Plug-In Range Rover