Q3 2021 Helbiz Inc Earnings Call

Okay.

Thank you for standing by and walk to the Halliburton third quarter 2021 earnings Conference call.

Currently all participants are in a listen only mode. As a reminder, today's program may be recorded and now like to introduce your host for today's program, Gary The board yet with the Blue collar with excuse me with the Blue shirt group. Please go ahead Sir.

Thank you Hello, everyone and welcome to <unk> third quarter 2021 results conference call.

Today, our founder and Chief Executive Officer, Salvatore Telia, and Chief Financial Officer, Julio <unk>, who will review the operating and financial highlights we disregard financial results press release today. After the market close it's available via newswire and on our website at investors <unk> Com a replay of the car.

This call will be available later today on the Investor Relations page of our website.

Please note that our press release and this conference call will contain forward looking statements are subject to risks and uncertainties. These forward looking statements are only predictions and may differ materially from actual future events or results due to a variety of factors <unk> can give no assurance that these statements will prove to be correct. We have no obligation to update them.

Statements. We will also discuss certain forward looking non-GAAP financial measures, which are not prepared in accordance with generally accepted accounting principles. We urge you to review the discussion of our non-GAAP financial measures and the risks associated with our business that are described in the safe Harbor provision for forward looking statements and our filings with the SEC.

I will now turn the call over to Salvatore to begin Salvatore.

Thank you Gary critical.

Thank you. Thank you everyone to be on this call I'm really excited and happy to share with you our first quarter I think.

It is a great opportunity also to share some share some achieved achievement and be sure that you all understand that what is the company looking forward for the next two quarters to.

We are pleased to share our Q3 results for the first time as a public traded company, our operating and financial results demonstrate that the hurdle for its actually we are seeing we.

We had been more CD in both the U S and the European side growing our user base and treat substantially.

Mobility is our main business and we are really happy to share.

All bidding of more C D and the a substantial order we place a couple of weeks ago around 25000 vehicle are they are ready to be on the street by the Covid. What that taught me means that the company was able to raise capital raise capital around $60 million from the including the IPO.

And that too.

Not big issue for the supply chain.

That means that our.

Scooter and our bias that we hardware and also part of the market will be on the road the by that by the beginning of the next year does that mean that we are going to increase our revenues substantially it will be also very important for opening new seed. These patient in the United States, where we decide to invest but always more.

And in the opening more CD as much we can.

Our team is always working on operating on opening New C. D. We are pleased to share. It in the last couple of months the opening of California, and we are going to increase also our.

C D value lots only in the area where.

We are limited by the weather, but obviously they have got like Florida, and California, where the weather is not an issue for our business.

Elbit is not only mobility as you guys know now lbp's increase could become a lifestyle brand and we decided to enter into different other business. This year, one is food delivery through.

Through our biggest through our <unk>.

<unk> features the biggest ghost kitchen in Europe, we are really happy to include that food delivery for our <unk>.

For all of the user but also in free for our Lps limited user we're going to back on this point.

Our kitchen is now.

We'd now all been also enrolled last week, we announced an important partnership with the former Alitalia now called <unk> and we are going to open in <unk> new enrollment in the next 60 days.

Also with Elbit kitchen, we are looking to expand in the United States and we are considering lots of opportunity.

In the U S I'm sure in the next couple of weeks and we will back on this point and we will make sure that our swell with kitchen will have a pricing the United States.

Elbit is not all the media and kitchen in June this year, we decided to launch also our media division that is very important to us the business.

And specially has our user do more using our limited subsequent option LP to media is able to launch an OTT service called LP slides.

LP fly, but it's going to be our brand for the OTT service that needs to include the aimed at helping alleviate subscription but also can be subscript separately way for CV, we're not pressed into through mobility or kitchen.

Help me to media was able to close in the last couple of months, but important partnership with Amazon for example, because from the first of December we are going to be able also to show all our content on Amazon Prime video, Italy, but also with important leak such.

Ah Ah Soccer League in Italy, she must be legal and it.

And the sale in the United States, where we able to take content and bring it in but we also sure that it can.

Can work with other major league be sure we can bring colton.

Italy and in the country, where elbit lie, but they'll be media outbreak.

Yeah.

I'll leave it there is also the core of these three different vertical.

Why because that grew one one subscription you can have a limited mobility.

The order funnel gets feature and a limited view of all the content of L. B.

I'll be quiet.

So we are expecting an important increase in the next month, we see already an increase on the help is unlimited subscription.

This is super important because that show exactly what we wanted to do so use of micro mobility to attract user and then offer as much service, we can using the same brand and using the same lifestyle.

But now let's go into a little bit more the number of this quarter and then let me let me turn the call to Julio Judy.

Julio.

Thank you Sarah Doran.

We delivered a strong performance for both the third quarter and the first nine months of 2021 my discussion today would focus mainly on key highlights from the third quarter. Please see today's press release for additional commentary on our financial performance for the third quarter, we reported revenue of four.

$7 million up 134% against the Q3 2020 and up 57% from Q2 2021. Similarly, we have realized significant revenue improvement for the nine months of 2021, 203% greater than the comparable 2012.

Period, and the increase in revenue was largely driven by the expansion of our fleet and the opening of several new Cds across the U S and Europe, notably we also experienced an increase in ride volume and trip duration as several key markets he's called visa restrictions and ride.

There's a salt socially distant ways to get around the recently launched <unk> media was also a strong contributor with over $650000 of generated in the quarter.

With the proceeds from the pipe the warrant exercise and convert the boardroom. We all we are increasing our investments in our business and we have been spending heavily on a seat expansion fleet expansion and our kitchen and media initiatives being technology, driven and we continue to invest in R&D to be.

Our platform. We're also investing heavily in sales and marketing to drive awareness of our multiple business lines.

Looking at the balance sheet, we ended the quarter with $8 million in cash however, since at the end of the quarter, we raised additional capital through warrants exercise and a convertible offering as of today, our cash balance is over $30 million. All told though we have raised the around 60 million.

In recent months, leaving us well funded to grow to drive our growth going forward.

Looking ahead, we expect our growth to come from doing exactly what we are delivering on to date and deepening our penetration in existing Cds and to continuing to expand into new markets. We expect growth to accelerate in 2022 now that we have new vehicles on order, we should arrive well in time for <unk>.

Season them in the second and third quarters of 2022, Lastly, we believe that seasonality would not be as impactful for us if we meet our expectations of launching additional <unk> in Florida and in California in the near term.

With that said, let me turn the call back to sort of a thought I for some final remarks.

Thank you Julia.

I think at the quarter. It was a really big successful and we are sure to achieve full other golf for the next one.

I want to also use the opportunity.

On the on this call to explain that we're not gonna have issue about supply chain, because we were able to place an order in time and through our our good relationship with our supply in China and all over the war. We are also working really hard to make sure all our CD will be fully.

<unk> operate with fully number of capacity for schools and bike any ballpark where available.

Let me also say something about Elbit won help it to one that will be our retail scooter and we are really happy last month to stop pretty auto better preorder a sponsor to arrive and we also really happy to say, we will be in time for the delivery on the end of the North Dakota.

This is a really important achievement for the company because the weekend hotbed unimportant streaming line.

Given your stream line to our revenue coming from the retail business. So I think this will be really important to be sure. We can we can make happy not only consumer using sharing mobility, but how so lots of people who want to buy a scooter branding with our company.

So.

I want also congratulate to all the project manager and all the people who are working so hard all make this go opposite.

I would like to thank our employees for their hard work and dedication and also I want to turn our user partner and shareholder support and confidence.

Thank you for your time today, we really appreciate it we don't have bet, a Q&A section, but pleased that we invite everyone on referring to ask all the questions. You guys that we had together with blue shirt can give you outerwear using they may have investor at Elbit dotcom.

Thank you Gail and we're looking forward for the next quarter.

Thank you ladies and gentlemen. This concludes today's conference call you may now disconnect.

Okay.

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