Lyft is making an optimistic tweak to the accounting lexicon by inserting the concept of “contribution” into its IPO prospectus. richardbeales1
Lyft, the U.S.-focused ride-hailing firm, on March 1 filed a draft prospectus for an initial public offering with the Securities and Exchange Commission.
Among the metrics described in the document is what Lyft calls contribution, which it defines as revenue less the cost of revenue, excluding amortization of intangible assets, stock-based compensation, and insurance effects from prior periods. Lyft reported a net loss of $911 million in 2018 on revenue of $2.2 billion. Its adjusted EBITDA was negative $944 million. As the company defines it, contribution was $921 million, a margin of 42.7 percent.
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