Cleaves phosphorylated sphingoid bases (PSBs), such as sphingosine-1-phosphate, into fatty aldehydes and phosphoethanolamine (By similarity). Possibly implicated in influencing the macrophage autophagy pathway. sphinganine 1-phosphate = hexadecanal + phosphoethanolamine Belongs to the group II decarboxylase family. Sphingosine-1-phosphate lyase subfamily.