Third quarter 2021 revenue up 134% compared to the comparable period of 2020
Third quarter 2021 revenue increased by 57% compared to second quarter 2021
Nine-month 2021 revenue 203% higher than the comparable period of 2020
NEW YORK, November 15, 2021– (BUSINESS WIRE) – Helbiz, Inc. (NASDAQ: HLBZ) (“Helbiz” or the “Company”), a global leader in micro-mobility and the first in its industry to be listed on Nasdaq, reported today financial results for the third quarter ended September 30, 2021, together with its quarterly report on Form 10-Q filed today.
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Helbiz announces its financial results for the third quarter of 2021
Highlights of the 3rd quarter
Has exceeded 40 licenses in the United States and Europe
25,000 vehicles on order to drive growth in 2022
Helbiz One scooter launched for retail, consumer demand drives growing pre-order list
Largest ghost kitchen in the world opens in Milan
Late-stage discussions to open a foodservice “B2B kitchen” with Italian flagship airline, ITA
Finding places to expand ghost cooking / delivery in the United States
Launch of the Helbiz Live multimedia application
Acquisition of NFL and Serie B football rights on the Italian market for Helbiz Live
Strong contribution to revenue, over 15% of Q3 revenue
First micro-mobility company to be listed in the United States
Completion of the SPAC merger and start of trading on the Nasdaq
Over $ 65 million raised since August: PIPE, exercise of warrants, convertible offer
Helbiz Founder and CEO Salvatore Palella commented: “The Helbiz team has worked tirelessly since our founding to create an innovative, exciting and green company. Our Nasdaq listing in August was a big milestone and is just the start of our journey. In the third quarter, we made remarkable progress in our core business of micro-mobility, and layering additional services that enable the modern urban lifestyle. “
Palella explained: “The growth of mobility is being driven by opening up to new cities, building our fleet and introducing our first scooter sold to retail consumers, the Helbiz One. We further serve the lifestyle of modern city dwellers with food delivery, which we launched with our first ghost kitchen in Milan, the largest in the world. We also successfully launched our Helbiz Live media offering, which goes perfectly with food delivery. Mobility addresses the ‘out’ moments of life, while delivery and media are complementary ‘stay in’ services. “
Palella concluded: “As we head into 2022, we intend to significantly expand our offerings in the lifestyle categories. Most importantly, we believe that our set of services can bring more people to our Helbiz Unlimited subscription, which benefits the consumer with full access to our offers for a single monthly subscription. Helbiz Unlimited is also ideal for our business model, dramatically improving our visibility with a long-term recurring revenue stream. “
Commenting on financial performance, Helbiz CFO Giulio Profumo said: “Our financial situation and performance have never been better. Our PSPC merger and the exercises of PIPE and associated warrants, as well as a convertible offer, provided the necessary funding to invest in our growth. To date, our cash balance exceeds $ 30 million and we are aggressively investing across our business. You can see the first results of our substantial revenue growth, which has been strong year over year and sequentially. “
Profumo continued, “With this new funding, we continue to commit to investing in the growth of our business. As a technology-driven company, we are increasing R&D spending to improve user experience, strengthen our underlying IT infrastructure, and design new ones We spend on sales and marketing to spread awareness of our core mobility offerings and new delivery and media services. And of course, we’re laser-focused on getting new licenses, in the US and across Europe.
Profumo concluded: “With regard to mobility in particular, we are entering many new markets in the United States with the launch of other cities in Florida and California in the near future. We have 25,000 vehicles on order, the majority of which will be placed in new US markets as we gain licenses. Despite widely recognized supply chain issues, we believe we ordered early enough to deploy fleets well in advance of our busy spring / summer season. Overall, we are investing heavily and working tirelessly to generate significant growth in the quarters to come.
For more details on our results and outlook, please read our Quarterly Report on Form 10-Q available on the SEC Edgar website at https://www.sec.gov/edgar/browse/?CIK=1788841 .
Conference call details
Helbiz will hold a conference call at 4:30 p.m. Eastern Time on Monday, November 15, 2021 to discuss the Company’s business and financial results.
Live Connection Details:
North America (toll free): +1 (833) 693-0551
International: +1 (661) 407-1590
Conference number: 4656500
A simultaneous webcast of the conference call will also be available on Helbiz’s Investor Relations website at https://investors.helbiz.com/. An archived version of the webcast will be available on Helbiz’s Investor Relations website for one year at https://investors.helbiz.com/.
Helbiz is a world leader in micro-mobility services. Launched in 2015 and headquartered in New York City, the company offers a diverse fleet of vehicles, including electric scooters, e-bikes and electric mopeds, all on a convenient and user-friendly platform in more than 35 cities around the world. . Helbiz uses personalized and proprietary fleet management technology, artificial intelligence and environmental mapping to optimize operations and business sustainability. Helbiz is expanding its urban lifestyle products and services to include live streaming services, food delivery, financial services and more, all accessible in its mobile app.
Certain statements made in this press release are “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “anticipate”, “believe”, “expect”, “estimate”, “plan”, “outlook” and “project” and other similar expressions which predict or indicate future events or trends or which are not statements of historical matters. These forward-looking statements reflect the current analysis of existing information and are subject to various risks and uncertainties. Therefore, caution should be exercised in relying on forward-looking statements. Due to known and unknown risks, actual results may differ materially from the Company’s expectations or projections.The following factors, among others, could cause actual results to differ materially from those described in these forward-looking statements: (i) failure to meet projected development and production goals; (ii) changes in applicable laws or regulations; (iii) the effect of the COVID-19 pandemic on the Company and its current or anticipated markets; and (iv) the other risks and uncertainties described herein, as well as the risks and uncertainties discussed from time to time in other reports and other public documents filed with the Securities and Exchange Commission (the “SEC”) by the Society. Additional information regarding these and other factors that may affect the Company’s expectations and projections can be found in its periodic filings with the SEC, including its annual report on Form 10-K for the fiscal year ended December 31, 2020 and amended on May 21. 2021. The Company’s filings with the SEC are publicly available on the SEC’s website at www.sec.gov. Any forward-looking statement we make in this press release is based solely on information currently available to Helbiz and speaks only as of the date on which it is made. Helbiz does not undertake to publicly update any forward-looking statements, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise, except as required by law. .
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