- Third Quarter 2021 revenue up 134% over comparable 2020 period
- Third Quarter 2021 revenue increased 57% over Second Quarter 2021
- 9-month 2021 revenue 203% greater than comparable 2020 period
Helbiz, Inc. (NASDAQ: HLBZ) (“Helbiz” or the “Company”), a global leader in micro-mobility and the first in its industry to be publicly listed on Nasdaq, today reported financial results for the third quarter ended September 30, 2021, in conjunction with its Quarterly Report on Form 10-Q filed today.
Q3 Highlights
Mobility
- Surpassed 40 licenses in U.S. and Europe
- 25,000 vehicles on order to drive 2022 growth
- Launched Helbiz One scooter for retail sale, consumer demand leads to growing pre-order list
Delivery
- Opened world’s largest ghost kitchen in Milan
- Late stage discussions to open a food services “B2B kitchen” with Italian flagship airline, ITA
- Scouting locations to expand ghost kitchen/delivery into the U.S.
Media
- Launched Helbiz Live media app
- Acquired Italian market NFL and Serie B football rights for Helbiz Live
- Strong revenue contribution, over 15% of Q3 revenue
Financial
- First micro-mobility company to list in the U.S.
- Completed SPAC merger and commenced trading on Nasdaq
- Raised over $65 million since August: PIPE, warrant exercise, convertible offering
Helbiz Founder and Chief Executive Officer Salvatore Palella commented, “The Helbiz team has worked relentlessly since our founding to build an innovative, exciting and green company. Our Nasdaq listing in August was a milestone and represents only the start of our journey. In the third quarter, we made outstanding progress in our core micro-mobility business, and in layering on additional services that enable the modern urban lifestyle.”
Palella elaborated, “Growth in mobility is being driven by opening in new cities, building our fleet, and introducing our first scooter sold for consumers at retail, the Helbiz One. We are further serving 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 media offering Helbiz Live, which pairs perfectly with food delivery. Mobility addresses the ‘go out’ moments in life, while delivery and media are complementary ‘stay in’ services.”
Palella concluded, “As we move into 2022, we intend to significantly expand our offerings in lifestyle categories. Importantly, we believe our bundle of services can drive more people to our Helbiz Unlimited subscription, which benefits the consumer with full access to our offerings for a single monthly fee. Helbiz Unlimited is great for our business model as well, vastly improving our visibility with a long-lived recurring revenue stream.”
Discussing financial performance, Helbiz Chief Financial Officer Giulio Profumo noted: “Our financial condition and performance has never been better. Our SPAC merger and the related PIPE and warrant exercises, along with a convertible offering, provided the funding necessary to invest in our growth. As of today, our cash balance is over $30 million, and we are aggressively investing across our whole business. You can see the early results in our substantial revenue growth, which was strong both year over year and sequentially.”
Profumo continued, “With the new funding, we continue to be committed to invest in growth across our businesses. As a technology-driven company, we are increasing R&D spending to enhance the user experience, fortify our underlying IT infrastructure, and design sleek new vehicles. We are spending on sales and marketing to build awareness of our core mobility offerings and the new delivery and media services. And of course, we are laser focused on securing new licenses, in the U.S. and across Europe.”
Profumo concluded, “On mobility specifically, we are entering many new markets in the U.S. with more cities in Florida and California launching in the near future. We have 25,000 vehicles on order, the majority of which will be placed in new U.S. markets as we win licenses. Despite widely recognized supply chain issues, we believe we have ordered early enough to deploy fleets well before our busy spring/summer season. Overall, we are investing heavily and working relentlessly to drive meaningful growth in the quarters ahead.”
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.
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