Lyft, Inc. (NASDAQ:LYFT) shares tumbled Wednesday, a day after unveiling financial results for its fourth quarter ended December 31, 2019.
The San Francisco-based ride-sharing services reported Lyft reported Q4 2019 revenue of $1,017.1 million versus $669.5 million in the fourth quarter of 2018, an increase of 52 percent year-over-year.
Net loss for Q4 2019 was $356.0 million versus a net loss of $248.9 million in the same period of 2018. Net loss for Q4 includes $207.3 million of stock-based compensation and related payroll tax expenses, as well as $18.8 million related to changes to the liabilities for insurance required by regulatory agencies attributable to historical periods. Net loss margin for Q4 was 35.0 percent and 37.2 percent in the fourth quarter of 2018.
Lyft reported Contribution for Q4 2019 of $549.5 million versus $304.7 million in the fourth quarter of 2018, up 80% year-over-year. Contribution Margin for Q4 increased to 54.0 percent from 45.5% in the fourth quarter of 2018.
Adjusted EBITDA Loss for Q4 2019 was $130.7 million versus $251.1 million in the fourth quarter of 2018. Adjusted EBITDA Loss Margin for Q4 was 12.9 percent versus 37.5 percent in the fourth quarter of 2018.
CEO Logan Green commented, "With the Lyft transportation network, we are already helping over 22 million consumers get around in a much more simple and economical way. Today, people can go to the Lyft app and choose their preferred mode of transportation, including cars, bikes, scooters, and public transit - all in one place."
Shares reversed $3.71, or 6.9%, to $50.23.
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