Here’s Lyft’s assets - liabilities in billions as reported in their Form 10Q for the third quarter of each year: 2019: 5.7 - 2.7 = $3.0b 2020: 5.0 - 3.0 = $2.0b 2021: 4.8 - 3.3 = $1.5b 2022: 4.6 - 3.8 = $0.8b At their current burn rate, they have about a year remaining. Of course they just had layoffs to slow down the bleeding. Rideshare just had one of their busiest years ever with people going on spending/travel sprees after being stuck inside during COVID. Revenue surged but they have somehow managed to grow their spending even faster. Edit: Lyft is down to $140m in cash on hand from $700m a year ago. #lyft #uber
Yep.. same will happen with Uber . They will file bankruptcy and then start afresh with zero debt.
Uber is valued at 50b. What makes you think they will go bankrupt?
Ubers and Lyfts are getting totally out of hand. In nyc, yellow cabs are finally cheaper than Uber/Lyfts!!
They have been for years
It's like airbnbs and hotels. Lyft/Uber = airbnb. Taxi = hotel
Wrong
I don’t understand why their cost is so high when they don’t even operate their own fleet lol
Very high pay for employees, too many employees/ customer service. Too much overhead
Definitely not the employees who get “very high pay”, I can tell you that
That’s because they were incentivizing drivers to take 50 rides with a guaranteed pay of $3,500. I did 50 5-10 minute short rides ( maybe 5 days worth of work) and made $700 and they paid me the difference. No questions asked.
Is it still possible? Sounds like I should give some rides
I think that promo passed
You mean appified taxi services really aren’t multi billion dollar businesses?
Reserving a ride for a later time cost $15 on Uber lol that’s just wild to me. I hope all these companies go to the shitter.
Not a good outcome for tech.
Food delivery service fee is even more crazy. Uber eats is only useful when high. Otherwise get your own food and pay 50% price.
Have they made a profit so far?
Not GAAP profit. They make a profit if they can exclude taxes, stock-based compensation, depreciation, insurance, and other expenses. They made a bunch of new metrics like Contribution, Contribution Margin, and Adjusted EBITDA that are more favorable, but are not generally accepted accounting principles.
Is the 10Q the best way to analyze this? They are notoriously shallow from what i have been told. I will be honest I am not the most knowledgable about the forms, but doesn’t the company say they have 1.8 Billion cash on hand vs what you said ? The 10K shows 2.2 billion in February of this year. And googling around estimated between 1.7-2 billion on hand.
They’ll be bought. Doordash should scoop them up. But doubt they have the money.
No, serves them no purpose to get all this debt
Doordash could buy the assets in a bankruptcy And the debtors will hold some bag But most of all, common stock holders are wiped