As Lyft goes public, profitability is a long-term goal, not a near-term likelihood
March 29, 2019 at 09:16 AM EDT
Lyft went public on Friday at a valuation above $20 billion, but last year it had a net loss of $911 million. During the roadshow leading up to its IPO, Lyft promised investors it would eventually make 20% EBITDA margins, but it was vague about the timeline and strategy for how it would get there.