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Bird Global, Inc. (OTCQX: BRDS) is a leading company in the field of environmentally friendly electric transportation. Known for its reliable last-mile transportation solutions, Bird offers e-scooters and e-bikes to communities worldwide, promoting a greener and more efficient way to travel. The company's mission is to make cities more livable by reducing car usage, traffic, and carbon emissions.
As part of its ongoing commitment to sustainability, Bird has facilitated over 300 million miles of travel, offsetting an estimated 90 million pounds of carbon emissions globally. The company operates in 350 cities across Canada, the United States, Europe, the Middle East, and Australia, making it the largest micromobility operator in North America.
Recently, Bird announced a financial restructuring process to strengthen its balance sheet and better position the company for long-term growth. Despite the restructuring, Bird continues to maintain its service standards for riders and uphold commitments to partner cities, fleet managers, and employees. The company aims to right-size its capital structure, supported by new and existing lenders, including MidCap Financial and Apollo Global Management.
Bird's leadership team, led by Interim CEO Michael Washinushi, is focused on achieving profitability and enhancing operational efficiency. The restructuring process includes a voluntary Chapter 11 bankruptcy proceeding, aimed at facilitating the sale of the company's assets to maximize value for all stakeholders. The court-supervised process is expected to be completed in the next 90-120 days, with minimal impact on operations in Bird Canada and Bird Europe.
Bird has filed a series of motions to ensure a smooth transition into bankruptcy, including provisions for employee wages and benefits. Legal counsel is provided by Berger Singerman LLP, with financial and restructuring advice from Teneo Capital LLC. Additional details about the proceedings are available on the company's claims agent's website.
Bird's innovative and community-first approach to micromobility has earned it a pivotal role in the sustainability goals of numerous cities. By providing affordable and convenient transportation options, Bird continues to make a significant impact in reducing urban congestion and promoting environmental stewardship.
Bird Global, Inc. (NYSE:BRDS) announces the approval to double its e-scooter fleet in New York City and increase its service in Washington, D.C. by over 20%. Daily ridership in NYC rose nearly 70% in March and 48% in D.C., driven by rising gas prices and easing COVID restrictions. The NYC Department of Transportation aims to expand its e-scooter pilot to the Bronx. Bird is committed to providing environmentally friendly transportation options, growing its service across more than 400 cities globally.
Bird Global, Inc. (NYSE:BRDS) announced its participation in D.A. Davidson's Inaugural EV & Energy Transition Virtual Conference on March 22, 2022. Management will be available for one-on-one meetings with institutional investors. Interested portfolio managers and analysts can arrange meetings through their sales representatives or by emailing investor@bird.co.
Founded in 2017, Bird offers environmentally friendly transportation solutions, including e-scooters and e-bikes, across over 400 cities globally, partnering with local communities for reliable transit options.
Bird Global, Inc. (NYSE:BRDS) reported a significant financial performance for the fourth quarter and full year 2021, with revenues increasing by 117% year-over-year to $205.1 million. In Q4 alone, revenue surged 126% to $54.0 million, supported by a rise in rides exceeding 100%. The company achieved its first full year of positive gross margin, reaching 19% in 2021. Despite a net loss of $(196.3) million, adjusted EBITDA losses improved by 62%. For 2022, Bird anticipates first-quarter revenues between $34 million and $36 million and full-year revenues of at least $350 million.
Bird Global, Inc. (NYSE:BRDS) has integrated its services with Lisbon's Gira Bike Rental Network as part of a public-private partnership. This initiative, part of Bird's Smart Bikeshare program, aims to promote eco-friendly transportation within the city. Bird has also launched its services in Vila Franca de Xira, marking its 11th city launch in Portugal. The company continues to expand its fleet and maintain strong relationships with cities like Lisbon and Porto to enhance environmentally friendly transport options.
Bird Global, Inc. (NYSE: BRDS) will announce its fourth quarter and fiscal year 2021 financial results on March 15, 2022, after market close. A conference call is scheduled for 4:30 p.m. Eastern Time to discuss the results and provide business updates. Investors can join the call by dialing 877-407-0792 (or 201-689-8263 for international callers) 10 minutes prior. A live audio webcast will be available at ir.bird.co, with a replay accessible shortly after the call concludes.
Bird Global (NYSE:BRDS) has launched its custom-designed Bird Bike in the UK, available exclusively through Halfords. The e-bike features a 250w Bafang motor, a range of up to 100km, and a maximum speed assist of 25km/h. Priced at £1,999, it offers two models and emphasizes safety with integrated LED lights and a Bluetooth connectivity. With a rise in e-bike demand, evidenced by over 2.4 million searches for ‘Electric Bike’ in the UK last year, Bird aims to meet the growing market. The product launch aligns with the UK's investment in cycling infrastructure.
Bird Global, Inc. (NYSE:BRDS) has announced permit extensions for its shared micro-electric vehicle services in Long Beach, Portland, and Decatur. Additionally, the company plans to increase fleet sizes in Durham, Isla Vista, and Arlington to accommodate the growing demand from returning students. Bird emphasizes its commitment to providing eco-friendly transportation options as more cities adopt micro-electric vehicles amid a favorable regulatory environment. The company offers a turnkey solution for shared e-mobility that complements public transit.
Bird Global (NYSE:BRDS) has partnered with WeGo Public Transit in Nashville to launch a pilot program aimed at closing first- and last-mile transit gaps using eco-friendly micro-electric scooters. This partnership seeks to enhance access to public transit, reducing reliance on gas-powered vehicles. The program will specifically aid commuters traveling to areas like Nolensville Pike and Gallatin Pike. Bird's previous services in Nashville have positively impacted local businesses with an estimated $750,000 contribution to economic recovery.
Bird Global (NYSE:BRDS) has launched its bike sharing service in Amersfoort, the Netherlands, marking its debut in the country. This rollout follows successful launches of shared e-assist bikes in Bordeaux, France, and Rome, Italy. Bird continues expanding its micromobility solutions across Europe, now operating in over 350 cities, including more than 150 in Europe. The company aims to reduce reliance on internal combustion engine vehicles, enhancing sustainable transport options in urban areas. Bird plans to extend its service to Sesto Fiorentino, Italy, further solidifying its presence in the region.
Bird Global, Inc. (NYSE: BRDS) has unveiled a new Battery Management System (BMS) and enhanced battery technology featuring IP68-rated lithium-ion battery cell packs, setting a high standard for safety and performance in micro-EVs. This BMS enables real-time diagnostics, dynamic battery power limits, and effective data communication to enhance vehicle safety and performance. Designed by Bird's in-house team, the system aims to increase battery longevity and reliability, while supporting environmentally friendly electric transportation.
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