Helbiz Announces 2022 Financial Results Featuring Sales up 21% and Continued Business Transformation
Helbiz reported a 21% increase in full-year revenue to
- Full-year revenue increased by 21% to $15.5 million.
- Annual Active Platform Users (AAPUs) grew by 15% year-over-year.
- Cost optimization efforts reduced R&D, sales & marketing, and G&A expenses to 47% of total operating expenses from 53% in 2021.
- The combined pro forma revenue with Wheels Labs would have amounted to $21.2 million.
- None.
Full year revenue up
Combined Pro Forma Full Year Revenue of
Intensifying Focus on Operating Profitably in Near Term
Extensive Rationalization of Corporate Structure and Expense Base
Regained Nasdaq compliance with the Market Value of
Highlights & Outlook
Business Model Transformation
-
Completed acquisition of Wheels on
November 18, 2022 - Began aggressive program of cost reduction and business model rationalization
- Focused on optimizing operations in key markets to achieve profitability
- Seeking strategic partner to manage or acquire growing media business
Financial
-
Full year revenue of
, up$15.5 million 21% y/y -
Combined pro forma full year revenue of
Helbiz andWheels Labs Inc. would have amounted to$21.2 million -
With constant currency Euro/
U.S. Dollar, Mobility revenue would have been9% higher -
Ongoing cost optimization reduced R&D, sales & marketing, and G&A expenses to
47% of total operating expenses from53% in 2021 -
Subsequent to year end we entered into equity lines of credit from which up to
of common stock can be sold$70 million -
In
March 2023 , regained Nasdaq compliance with the Market Value ofListed Securities requirement
Mobility
-
Annual Active Platform Users (“AAPUs) up
15% y/y - With Wheels the Group entered in new markets and new business model such as Long Term Rental
- Quickly integrated Wheels service offering and teams
- Rationalized Wheels expense structure, creating immediate cost synergies
-
Preparing to expand Wheels Long Term Rental model across
U.S. and inEurope - Took actions to reduce overall cost of mobility (shared vehicle and Wheels), improving gross margin
Kitchen
-
Los Angeles andSanta Monica first cities in theU.S. to offer both Kitchen and mobility services - Expanded partnership with Kitchens United to transform to capital light model
Commenting on the Company’s business model transformation,
Palella continued, “Even with the substantial progress we have made, our efforts are far from over. Soon we will unveil a major transformation that we believe will create an even stronger and more exciting company. This next initiative is going to be bold and will mark a turning point in the life of our company. We encourage all our shareholders to watch closely for this compelling news in the next few days.”
Elaborating on Helbiz’ aggressive financial restructuring,
Helbiz’s 2022 financial results can be found by accessing the Company's quarterly results page of the Investor Relations section of the
To enhance engagement with the company's shareholder base and facilitate connections with its investors,
Conference Call Details
What: Full Year 2022 Results
When:
Time:
Where:
International: +1 (646) 307-1963
Participants should ask to join into the
Audio-only Webcast:
https://edge.media-server.com/mmc/p/hy47ozve
Webcast Replay Available: https://investors.helbiz.com
About
Forward-Looking Statements
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 that predict or indicate future events or trends or that 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. As a result, caution must 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) the failure to meet projected development and production targets; (ii) changes in applicable laws or regulations;(iii) the effect of the COVID-19 pandemic on the Company and its current or intended markets; and (iv) other risks and uncertainties described herein, as well as those risks and uncertainties discussed from time to time in other reports and other public filings with the
View source version on businesswire.com: https://www.businesswire.com/news/home/20230328005884/en/
For media inquiries:
press@helbiz.com
For investor inquiries:
gary@blueshirtgroup.com
+1 (323) 240-5796
Source:
FAQ
What were Helbiz's revenue figures for 2022?
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When did Helbiz regain Nasdaq compliance?
What is the pro forma revenue of Helbiz and Wheels Labs combined?