Thanks top John and everyone. and the We with finished and line. good afternoon both conviction XXXX guidance exceeded bottom on
our execution to for Our and record revenue innovation-led beat the we riders active monetization. focused, outlook time product and first surpassed on in results as quarterly billion and $X
efforts unlock cut extended our in X of the outperformance versus of impressive Combined entire sequential I'm cost points contribution percentage also our in P&L. generated pleased strong and from discipline. margin across initiatives half these EBITDA year. that drove key last We QX savings nearly adjusted and of QX loss expansion an
$X.XX driven let to revenue our XX.X ahead Total quarter with QX in increased We between XX% XX.X active me into a guidance million. year-over-year dive billion. the XX.X revenue was XX% ended year-over-year, of in riders increases and per details. for So record riders, million the by Growth of rider. active million and of the was number revenue active up which
Given ahead active strong monetization, $XX.XX, was revenue outlook. per our rider of up and XX% year-over-year
note statement Now on A to and SEC with select before found Relations compensation furnished non-GAAP available earnings that, I historical our today I reconciliation all of excludes and on, be otherwise in follow unless other GAAP move is that and indicated, our results measures non-GAAP which X-K Form to may was with stock-based want income items. are the release, our filed website. Investor
amortization required compensation-related periods. expenses of attributable agencies, changes adjusted for liabilities cost exclude insurance, to to This by as less assets, historical to revenue, regulatory intangible and includes revenue, defined is contribution, which of stock-based
Contribution high monetization. our of focus million a year-over-year. XXX and QX, was expense basis the improved period points outlook result X leverage percentage year record up for points $XXX as over XX% up QX margin was from and Contribution and in on same continued our above a ago, a XX%,
for regulatory liabilities Now attributable changes reminder, historical agencies, periods. to as to insurance, the excludes contribution a required by
third-party adverse booked our The insurance claims adverse administrator historical claims, relates handling. by of million all $XX net are QX. of managed virtually We auto which for experienced QX development to in development in legacy
Progressive to during and claims administration you depending XXXX. Farm State As on moved will state, Travelers, responsibility, we recall,
was percentage in of revenue, required The fourth than the third. in lower the quarter insurance for cost as ridesharing, a of
and that to to and world-class improving initiatives pleased continue partnerships and are increase are Further, with reduce safety claims We insurers our handling costs. show frequency impact. lowering our progress accident
In cost key margin. in fact, a insurance in point leveraging was basis the contribution outperformance of XXX factor our
XXXX these and on continuing focused throughout We are advances beyond.
move with XX% in million of same $XXX ago an and for or year from Let's support expenses. of Operations line guidance. improvement revenue, XXX operating points a and period was basis expense QX to the
laser-focused and efficiencies continue We be within margin to to improvements operations support. drive on increasing
million, R&D ago revenue, than year worth was calling period fueling unlocking flat expense $XXX XX% same our and our guidance. that growth. R&D includes also or Its of savings a are which development R&D better X percentage cost was the investments point versus out in to addition in revenue program. autonomous
accruals, the XX% versus which was XX quarter same in in a or As legal point approximately guidance. XX% basis a percentage and revenue, marketing XX was approximately better sales ago, is This includes period better XX% year over of or X decline fourth representing percentage revenue, percentage and points of a guidance. XX% $XXX expense, than settlements G&A million, than of points. the
adjusted leverage, outperformance, Our our strong combined a to significant led EBITDA beat to revenue expense with relative in outlook.
a loss XX% loss for the margin between of growth driving of the improvement in validation on QX prior year, and of focused ago a year EBITDA million point is for XX million compared a best million loss $XXX for result period percentage of investors. and $XXX We the improved representing to another Our $XXX million. year-over-year. adjusted and a our important EBITDA loss a fourth ever guidance $XXX was loss profitable remain XX%, quarter to versus in Adjusted point
the over Lyft in year, For billion generated revenue. $X.X
improvement Our which XXXX. adjusted million is for from EBITDA $XXX a loss XXXX XX% was
XXst, equivalents, and had cash, $X.X investments. December over billion cash of Lyft short-term As of unrestricted
Our liquidity strong. position extraordinarily remains
partners. our Drive the the we costs acquisition of two and for insurance assumed sale million-plus long-standing as has $XX the and few legacy to February been Flexdrive on want formed joint debt strategic acquisition our company and processes one a discuss Xth a obligations. associated was well spend as of venture of The Automotive partnership, potential reduce Cox enterprises. lease closed Express home minutes Flexdrive liabilities. certain streamline certain to Next, of between and To I transactions; as Flexdrive approximately the with
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under and sheet the of lift In the to million as million terms ASC on balance XXX of $XXX impact, related sheet approximately balance December XXst. liabilities of were assets $XXX Flexdrive already of
be of to recorded will also payments. a months. present as the will Prior XX payable imputed at for liability company Pro lease for a liability corresponding actual assets. the value the fixed the transaction, payments lieu balance leases asset the owned of the lease third-parties forma outstanding Flexdrive right-of-use There than lease acquired be the vehicles of acquisition, value and present to greater in previously recorded loan for the
by term. million recorded million end. remaining which that continue and of Flexdrive QX assets year of $XX leased forma Pro the liabilities over by will will grow end the to to Flexdrive lease payments related modestly. balance be the estimate are We value at grow to at Vehicles expected sheet $XX relative is present to approximately Lyft's consolidated to Lyft's
to insurance. move Let's
of the announced we volatility. to certain claims third future reduce call, sale exploring insurance we that are During our legacy quarter potential
as for transactions as the on to of eliminate is objective development sale responsibilities. both of future liabilities any certain complex of periods claims-handling set for includes the well a transfer adverse the This Our involves that sold. potential transaction
to such at market active to reported if explore this in But the continue a sale. are time. insurance We talks and nothing's
provide exceptional few outlook I me a for an our was Before let year. comments. XXXX, XXXX discuss
our market But We proud innovation, demonstrated excellence. drove and product are rationalization execution, also which rapid of exceptional benefited over-performance XXXX quarter-after-quarter. and very operational from outsized
of active rider related our noted year first growth IPO, highly we to in in drive Additionally, from publicity QX last we've and tailwind the in strong enjoyed revenue which as particularly a QX. additions favorable helped half prior and calls,
into on growth, the focuses XXXX into have current dynamics. believe profitable the industry we we market as forward better Going visibility
let In with outlook, terms me of start our revenue.
XX% revenue For anticipate first $X.XXX of XX%. year-over-year in quarter, be the we billion, the growth representing will to range to billion of $X.XX
the anticipate XX%. the rate year billion, $X.XX we $X.XXX For that will to XXXX, growth representing of full be of revenue billion and range annual between an in XX%
of approximately EBITDA. includes note to XXXX. important It's partnership outlook of co-development million expense technology. R&D amount unique relative of Moving headwinds autonomous for recorded from to Payments contra as Approximately to this conclusion are Magna Magna to the relates our that self-driving XXXX adjusted expense. XX% $XXX the
funding if absence R&D in not did XXXX grow even result, expenses a XXXX. be of of due offset would at the a million portion all, As that $XX greater go-forward to R&D in expense
services. to protect app-based million protect In to we XXXX believe an that help help we important across right year-over-year United drivers including a policy This addition, the to the doing California but States and today. drivers the support approach is to prepared is we this value year-over-year, our fund $XX are key work in invest the are and initiatives approximately substantial incremental increase flexibility
first million and the period, of our $XXX between EBITDA will range be representing we versus XX% in in improvement XX%. year-ago quarter, For $XXX an million the adjusted the of loss $XXX to million anticipate
represent peak as our drive we towards that XXXX expect will quarter the loss in quarterly first We profitability.
adjusted our of and $XXX a For improvement and million translates $XXX to the year, inclusive year-over-year $XXX improve loss $XXX underlying range And of approximately anticipate be to that momentum. adjusted million range by XX%. EBITDA the full EBITDA headwinds is differently, in Put of to expense This obscures range we're again million. will our expecting $XXX between approximately between this partially million. XX% we of million the
we growth shareholder on investments fund will and decisions responsible that allocation and expect we growth capital profitable are profitability. thoughtful long-term our making on Within path framework, and delivering to drive We this returns. are focused to
are achieved on We in proud progress the date and significant demonstrate right of our the are XXXX we results track. to
to that turn So Logan. let back with it me
