On February 08, Lyft Inc. (LYFT) declared its financial results for the fourth quarter and full-year 2021. Resultantly, the stock plunged down in the after-hours on Tuesday.
The anticipation of the earnings and positive expectations of the investors caused the stock to trade at a heavy volume of 20.23 million shares in regular trading. At 317% of its average volume, LYFT added 5.75% at its closing price of $41.20 during the regular session. Following the earnings release, the stock suffered a hit of 5.46%, losing what is gained, in the after hours. Hence, LYFT was trading at $38.95 per share at an after-hours volume of 5.67 million on Tuesday.
The online social rideshare community platform provider, Lyft Inc. has a market capitalization of $13.2 billion. Currently, the company has 332.12 million shares outstanding in the market.
LYFT: Q4 2021
In Q4 2021, the company generated $969.9 million in revenue against $569.9 million in the year-ago period. Thus, marking a YOY growth of 70%.
LYFT had an adjusted net income of $32.1 million in Q4 2021, against an adjusted net loss of $185.3 million in the year-ago quarter.
Moreover, the company had unrestricted cash, cash equivalents, and short-term investments of $2.3 billion on December 31, 2021.
Additionally, in Q4 2021, the active riders were 18,728 with an increase of 49.2% YOY.
Full Fiscal 2021
For fiscal 2021, the company declared revenue of $3.2 billion, against $2.4 billion in the previous year. This marks a growth of 36% YOY.
Furthermore, the company had an adjusted income of $82.2 million for fiscal 2021, against an adjusted net loss of $828.9 million in the previous year.
In addition, during the earnings call, the company’s CFO provided guidance of $800 to $850 million for Q1 2022. Comparatively, Wall Street’s consensus estimate for the quarter was $986 million in revenue.
Business Highlights
LYFT has been known to partner with various companies for providing a great experience to its customers. Some of its recent partnerships include:
Firstly, partnership with Vita Coco, a leading coconut water brand. On New Year’s Eve, the companies partnered for discounts on rides along with hydrating coconut water for the celebrators.
Secondly, the company and on-demand commerce platform Olo also entered a partnership for delivering digital orders for Olo’s network of restaurant brands.
LYFT: CFO Transition
On December 2, the company announced the appointment of Elaine Paul as its CFO, effective January 03. Paul replaced the previous CFO Brian Roberts who stepped down from the role.
