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by JumpCrisscross 2605 days 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.
2 comments
adventured 2604 days 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.

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wweidendorf 2604 days 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-4b85-9f...

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meritt 2605 days ago
Sorry I'm not following your math here. Which numbers allow you to back into $85mm and $80mm?
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JumpCrisscross 2605 days 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.)

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