As Spring Arrives, Bird Announces Expanded Global Operations

Rhea-AI Summary

Bird Global, Inc. (NYSE:BRDS) announced the expansion of its e-scooter and e-bike services in response to warmer weather, launching in cities across North America and Europe. New North American locations include Dallas, Lincoln, Logan, Montgomery, and Pocatello, alongside expansions in Italy and Israel. The company aims for tens of millions of rides this summer, bolstering its commitment to sustainable transportation. Bird has also secured permit renewals, indicating strong demand and city satisfaction. CEO Shane Torchiana emphasized the goal of achieving positive free cash flow in 2023, underlining Bird's focus on growth and community partnerships.

Positive

• Launch of new e-scooter and e-bike services in numerous cities in North America and Europe.
• Expectations of tens of millions of rides during the summer months.
• Permit renewals signaling strong demand and city satisfaction.
• Expansion of operating zones and fleet caps due to permit renewals.
• Commitment to achieving positive free cash flow in 2023.

Negative

• None.

Warmer weather brings new city launches and expanded programs for the company

MIAMI--(BUSINESS WIRE)-- Bird Global, Inc. (NYSE:BRDS), a leader in environmentally friendly electric transportation, today announced that with the return of warm weather, scooters are hitting the roads in dozens of cities across the globe, including new programs around Europe, the U.S. and Canada. These new and expanded operations showcase the company’s commitment to city partners, understanding of local transportation needs, and investment in innovative technology. It also demonstrates the company’s continued global growth as we enter the summer months. Bird expects tens of millions of rides across the company’s global footprint in the coming months. These new and growing cities join already successful programs in the Middle East and Australia.

New North American city launches this spring include Dallas, Texas; Lincoln, Nebraska; Logan, Utah; Montgomery, Alabama; and Pocatello, Idaho; as well as numerous cities in the Greater Toronto Area. In Europe, Bird will launch in numerous Italian cities, including Cervia, Ercolano, Grosseto, and Cagliari; and will expand in Israel with a launch in Ramat Hasharon.

“Spring weather means more people are choosing electric scooters and e-bikes to commute to work, get to school, and explore their cities,” said Shane Torchiana, CEO, Bird. “As we enter our busy season, we are committed to being a trusted partner to cities while delivering on our goal of being the first micromobility provider to hit positive free cash flow in 2023. We’re super grateful to the riders, partners, and policymakers who make our programs successful and look forward to continuing to grow our footprint in a sustainable way with them.”

In addition to new launches, Bird has also received permit renewals in recent months in a number of cities where the company is already operating, including Louisville, Kentucky; South Bend, Indiana; and more in the U.S., as well as Tel Aviv, Israel and Turin, Italy - pointing to continued demand for micromobility and strong city satisfaction with Bird as a partner. In many places, these renewals bring expanded operating zones and bigger fleet caps, confirming the impact Bird has for providing access to affordable, reliable, and sustainable transportation in cities across the world.

Warmer weather also means that Bird will be bringing scooters and e-bikes back onto the roads in markets where operations were paused for the coldest of the winter months, including cities in Michigan, Minnesota, upstate New York, New England, and across Canada, as well as European markets including Finland, the Canary Islands, and more.

Bird continues to operate across the Middle East and Australia, with a most recent launch in Perth, the company’s first major market for e-scooter operations in Australia.

About Bird

Bird is an electric vehicle company dedicated to bringing affordable, environmentally friendly transportation solutions such as e-scooters and e-bikes to communities across the world. Founded in 2017 by transportation pioneer Travis VanderZanden, Bird’s cleaner, affordable, and on-demand mobility solutions are available in more than 350 cities, primarily across the United States, Canada, Europe, the Middle East, and Australia. We take a collaborative, community-first approach to micromobility. Bird partners closely with the cities in which it operates to provide a reliable and affordable transportation option for people who live and work there.

Forward-Looking Statements

This press release contains forward-looking statements. We intend such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts may be forward-looking statements. Such forward-looking statements include, but are not limited to, statements regarding the expected benefits of the transaction; our path to profitability and our future financial performance, operations, operating results and financial condition. We have based these forward-looking statements largely on our current expectations. These forward-looking statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, our ability to cure our New York Stock Exchange (“NYSE”) price deficiency and meet the continued listing requirements of the NYSE; risks related to our relatively short operating history and our new and evolving business model, which makes it difficult to evaluate our future prospects, forecast financial results, and assess the risks and challenges we may face; our ability to achieve or maintain profitability in the future; our ability to retain existing riders or add new riders; our Fleet Managers’ ability to maintain vehicle quality or service levels; our ability to evaluate our business and prospects in the new and rapidly changing industry in which we operate; risks related to the impact of poor weather and seasonality on our business; our ability to obtain vehicles that meet our quality specifications in sufficient quantities on commercially reasonable terms; our ability to compete successfully in the highly competitive industries in which we operate; risks related to our substantial indebtedness; our ability to secure additional financing; risks related to the effective operation of mobile operating systems, networks and standards that we do not control; risks related to action by governmental authorities to restrict access to our products and services in their localities; risks related to claims, lawsuits, arbitration proceedings, government investigations and other proceedings to which we are regularly subject; risks related to compliance, market and other risks, including the ongoing conflict between Ukraine and Russia, in relation to any expansion by us into international markets; any continuing impact of the COVID-19 pandemic on our business, financial condition, and results of operations; risks related to the impact of impairment of our long-lived assets and the other important factors discussed in Part I, Item 1A. “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2022 , and described from time to time in our future reports filed with the Securities and Exchange Commission. The forward-looking statements in this press release are based upon information available to us as of the date of this press release and while we believe such information forms a reasonable basis for such statements, these statements are inherently uncertain and you are cautioned not to unduly rely upon these statements. Except as required by applicable law, we do not plan to publicly update or revise any forward-looking statements contained in this press release, whether as a result of any new information, future events or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230328005439/en/

Investor Contact

Investor@bird.co

Media Contact

Press@bird.co

Source: Bird Global, Inc.

FAQ

What new cities is Bird Global launching in North America for 2023?

In 2023, Bird Global is launching new services in Dallas, Lincoln, Logan, Montgomery, and Pocatello.

Which European cities will Bird Global expand into?

Bird is expanding into several Italian cities, including Cervia, Ercolano, Grosseto, and Cagliari, as well as Ramat Hasharon in Israel.

What is Bird Global's goal for cash flow in 2023?

Bird Global aims to achieve positive free cash flow in 2023.

How many rides does Bird Global expect during the summer?

Bird Global expects tens of millions of rides across its global footprint during the summer months.

What does Bird Global's permit renewals indicate?

The permit renewals indicate strong demand for micromobility services and high satisfaction from city partners.