afternoon everyone. Thanks, and Logan good
with runway am team of Lyft Lyft and even ahead. lot start initiatives. already spent of are exhilarated mission I saw a The There of by people, significant the potential growth few to the at joined more things opportunity. work my our has in do, company this a I clear. the I key strong time important are is month I X our me and that exciting month lot and business by because there been Let very a lot the is but incredible. and a of first fundamentals the on business into of leadership diving and saying engaging details
build having with to and will a am front the us. massive investors, stakeholders. much relationship analysts as company of in we We looking other addressable transparent larger forward a attack I key market our
talk about new quarter strongest rides high. with in COVID was let’s reached month. October QX. the the a Now, Halloween Rideshare fourth
down but and As ticked in rideshare December from both rides by versus expected, year. October, XX% last November months than increased more
support the impact Active nearly supply organic to of and higher remained year. saw the side, we growing a On quarter XX% the and driver and versus activations, signs we to improving fourth COVID balance marketplace were drivers, robust, were see volume By last continued supply, the of pleased our up of in QX new tailwinds. in investments an rides. which able
$XXX As up revenue of and exceeded XX% we our of QX a result, reported range million $XXX to guidance $XXX million. million, year-over-year
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exclude A QX was non-GAAP in all earnings our contribution I which with and of historical earnings million. Contribution SEC. XX%. statement Investor outperformance otherwise release. of unless GAAP of XX.X%, to Before stock-based is helped percentage compensation as want fourth strong filed the point revenue represents on our QX items $XXX relative X.X of our contribution X-K the increase our found select release, Form furnished XXXX our which reconciliation exceeded Relations indicated, and drive to and I measures to income detailed The margin on, in results move a maybe guidance margin available are note outlook non-GAAP quarter and on with other and that was our website today from in
of the the historical attributable net regulatory claims, As million of attribute liabilities reinsurance, costs. broadly specifically seen excess net was associated of the repair It’s continued QX and reinsurance date insurance development that our be higher the adverse is a administrator. in development being affecting the claims which we also deductible. pressures XXXX, claims the for of industry. healthcare on adverse development risk adverse agencies claims, now the $XXX contribution of this insurance which transfer noting auto In The there which to structure excludes changes across quarter, virtually amount to to are legacy impact legacy the reminder, coverage, related predate that economy also back third-party with offsets vehicle insurance COVID periods. fourth is to clear, required exists. by also worth of all of To Inflationary our
insurance reminder, current significant As auto for a policy of to risk year, best-in-class carriers. a insurance majority we’ve the our transferred
persist. retain So if inflationary we less area surface pressures
operating which and is a XX.X% of QX basis for down Operations a move $XXX last was improvement point year-over-year. expenses. XXX Let’s from The reflection year, XX.X% reduction is of of Level against and full expense to $XXX growth. expense revenue million. our support reflecting represents That of sale closed QX. in approximately a division, $XX X and was efficiencies million R&D leverage down million, operational QX in top impact self-driving year-over-year, line quarter the
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and the short-term profit million adjusted top versus and of the $X.X QX. was of terms between and XX% unrestricted $XX an of of bottom cash with billion. We equivalents improvement million was which million QX line end investments guidance, ended cash, line, EBITDA $XX in with our $XX XXXX In
move I our to affect can our and guidance. it’s COVID rapidly important to trends may outlook, With are any let impossible that note Before share change me with outlook. that, Future current certainty. to our conditions predict
by Logan impacted As Omicron. QX is mentioned, being
were QX. trends we in Omicron, demand prior in QX. sequential was rideshare growth to ride we This the saw strong anticipating based context, on For
in that given will now we rideshare slightly volumes, be down rides anticipate Omicron However, rideshare on the impact QX versus QX. had
rides first of scooters. use addition, shorter In rideshare ride mix quarter headwinds, with less and of always the has bikes every and year
revenue in million a On of sequential XX% XX%. QX Given This XX% basis, revenue year-over-year quarter-over-quarter. implies million of to to outlook $XXX $XXX these QX million of a $XXX and million. $XXX this expect versus decline in factors, between we suggests or XX% to growth
expect XX.X%. In be contribution of to profitability, terms QX we margin approximately
We and expect QX revenue $XX adjusted assumes million versus of driven sequential million a EBITDA in $XX the is decline. by $XX will million EBITDA $X QX headwind to versus adjusted approximately QX. between that be This quarter-over-quarter million the
moment a address to supply. take me Let driver
marketplace improvements reached and to demand. recent have with period partially has we remain of this is year. issue seen progress due to most improved the the the has We been so pleased the in ability are us. to over our softened as severe supply confident we balance we believe manage and an through Driver in resilient We behind continue quarters far QX dislocation
weigh the the near-term Turning expect QX we to growth on extent. to QX, recovery, impact will on Omicron of pace affect the our acceleration revenue the some and of year, could unknown which full
are year XX% revenues XXXX. grow XXXX, full achieved in cautiously For optimistic will we the that we than faster
a reasons. growth We for few expect this
have we but in been rideshare since QX below than COVID more QX First, highest XX% are started, ‘XX level. the they were volumes ‘XX still the
seen of Second, pandemic, the across opportunity chance released get the when side that people demand our demand will gets moving. wave create have for network. likely mobility to the pent-up the other for have Throughout more Omicron we
had a much position As people that’s To bars, they a up, safely stronger exactly go and things concerts to sporting the do. relative can were the year. out restaurants, at to solid to what in XXXX start first, fourth events we places ended quarter of or go, sum whether and more where we have
to navigate recovery Second, position we for ourselves demand. a in our ability and are headwinds near-term and confident
and the us. by are build going opportunity larger front Third market to company of much importantly, most a in attacking we
opportunities exciting to deliver serve growth, see lean to expand continue into that addressable We market. solutions and to our
capital disciplined to profitability committed also our are time. We improving and to allocation over
provide turn will let Our strategy. to John business key me to which growth continue investment updates financial it and maximize by North that, With guided be decisions free long-term per on share. cash our to is our to over flow Star, the
