Lyft just gave us the first look inside its financials - and they show widening losses as the company continues to grow
- Lyft made its IPO documents available to the public for the first time on Friday.
- The ride-hailing company's S-1 show growing losses as the company scales.
Lyft has finally publicly filed its long-awaited IPO documents.
The S-1, unveiled for the first time on Friday, is our first look under-the-hood, so to speak, at the company's financials. Unlike it's much larger competitor, Uber, Lyft has not publicly released much about its financial situation.
Lyft made $2.1 billion in revenue in 2018, the document shows, by providing more than 1 billion rides. However, that translated to $911.3 million loss in 2018 - its biggest annual loss in the past three years. For 2016 and 2017, its losses were $682.8 million and $688.3 million.
"Our expenses will likely increase in the future as we develop and launch new offerings and platform features, expand in existing and new markets, increase our sales and marketing efforts and continue to invest in our platform," the company said in its filing.
Here's its most recent financial data, from the filing:
This story is developing...
More from Lyft's IPO filing:
- Lyft kicks off 2019 unicorn IPO spree with public S-1
- Lyft and Uber will let some drivers get stock at the IPO price