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> Net loss for Q1 includes $894 million of stock-based compensation and related payroll tax expenses, primarily due to RSU expense recognition in connection wit

by Shank 7y ago

> Net loss for Q1 includes $894 million of stock-based compensation and related payroll tax expenses, primarily due to RSU expense recognition in connection with our initial public offering. I could be reading this entirely wrong, but doesn't this suggest that the primary issue during this quarter was administrative and one-off costs that won't be recurring far into the future?

JumpCrisscross 7y ago
Operations burned $85mm in Q1 ‘19 versus $80mm last year. Given revenues grew 95%, that’s a step in the right direction. Lyft have half a billion dollars in cash on hand, however, which will only last another 6 quarters at this rate. At its core, that balance between unit profitability, growth and access to cash is the game.
- meritt 7y ago
  Sorry I'm not following your math here. Which numbers allow you to back into $85mm and $80mm?
  - JumpCrisscross 7y ago
    > Which numbers allow you to back into $85mm and $80mm? Scroll down to their cash flow statement. Out of the three GAAP financial statements, cash flows are the easiest to interpret at a glance. (Fewer ways to screw around.)
- adventured 7y ago
  > Lyft have half a billion dollars in cash on hand, however, which will only last another 6 quarters at this rate. I don't believe the balance sheet they're showing for Mar 31, 2019 includes the ~$2.2b in cash they just raised from the IPO. I can't get the figures to add up if it does. From the Q4 balance + the IPO cash, they'd have ~$4.2b in cash, then subtract what they burned in the latest quarter (they obviously didn't burn $3.6b in cash in Q1). Besides that, the Q1 balance sheet is showing $1.03b in cash on hand, not half a billion dollars (I'm not sure where you're coming up with that figure). I believe their actual cash position was closer to $3.2b as of the end of Q1, including the IPO cash.
  - wweidendorf 7y ago
    You are correct that the March 31 figures do not include the IPO proceeds. If you take a look at the Q1'19 supplemental deck that Lyft released with their earnings, you will find a cash reconciliation as if their IPO had occurred on the last day of the quarter. It will be on page 21 of the following document: https://investor.lyft.com/static-files/19f2bd14-9b3c-4b85-9fea-689bb622156b https://investor.lyft.com/static-files/19f2bd14-9b3c-4b85-9f...
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csomar 7y ago
> was administrative and one-off costs that won't be recurring far into the future? Shouldn't one-off costs be amortized? Meaning they only show up as one-off costs in the cashflow but not in the revenue/expenses operations.

by Shank 7y ago

JumpCrisscross 7y ago

Operations burned $85mm in Q1 ‘19 versus $80mm last year. Given revenues grew 95%, that’s a step in the right direction. Lyft have half a billion dollars in cash on hand, however, which will only last another 6 quarters at this rate. At its core, that balance between unit profitability, growth and access to cash is the game.

meritt 7y ago
Sorry I'm not following your math here. Which numbers allow you to back into $85mm and $80mm?
- JumpCrisscross 7y ago
  > Which numbers allow you to back into $85mm and $80mm? Scroll down to their cash flow statement. Out of the three GAAP financial statements, cash flows are the easiest to interpret at a glance. (Fewer ways to screw around.)
adventured 7y ago
> Lyft have half a billion dollars in cash on hand, however, which will only last another 6 quarters at this rate. I don't believe the balance sheet they're showing for Mar 31, 2019 includes the ~$2.2b in cash they just raised from the IPO. I can't get the figures to add up if it does. From the Q4 balance + the IPO cash, they'd have ~$4.2b in cash, then subtract what they burned in the latest quarter (they obviously didn't burn $3.6b in cash in Q1). Besides that, the Q1 balance sheet is showing $1.03b in cash on hand, not half a billion dollars (I'm not sure where you're coming up with that figure). I believe their actual cash position was closer to $3.2b as of the end of Q1, including the IPO cash.
- wweidendorf 7y ago
  You are correct that the March 31 figures do not include the IPO proceeds. If you take a look at the Q1'19 supplemental deck that Lyft released with their earnings, you will find a cash reconciliation as if their IPO had occurred on the last day of the quarter. It will be on page 21 of the following document: https://investor.lyft.com/static-files/19f2bd14-9b3c-4b85-9fea-689bb622156b https://investor.lyft.com/static-files/19f2bd14-9b3c-4b85-9f...

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csomar 7y ago

> was administrative and one-off costs that won't be recurring far into the future? Shouldn't one-off costs be amortized? Meaning they only show up as one-off costs in the cashflow but not in the revenue/expenses operations.