Q1 2022 Helbiz Inc Earnings Call

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Thank you Christian Thank you for standing by and welcome to the health of its first quarter 2022 earnings conference call.

Currently all participants are in a listen only mode.

As a reminder, today's program will be recorded if anyone objects. Please disconnect now.

I'd like to introduce to your house.

For today's program, Gary divorce, Chick managing director with the Blue shirt group.

Mr. <unk>. Please go ahead thank.

Thank you operator, and Hello, everyone welcome to <unk> first quarter 2022 results conference call.

With us today are founder and Chief Executive Officer, Salvatore, a pillar and Chief Financial Officer Julia Pushy. These.

<unk> financial results press release today after the market close it's available via newswires and on our website at investors that help these dot com.

Replay of this conference call will be available later today on the Investor Relations page of our website.

Please note the press release and this conference call contain forward looking statements, which 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 these 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 are described in the safe Harbor provision about filings with the SEC I will now turn the call over to salvage oriented to begin.

So on the journey.

Thank you Gary and good day everyone.

Thank you for joining today's call to review our business for four months and find out it's hard for the fan out for the first quarter of 'twenty 'twenty, though.

Once the Green girl with substantial revenue for people with both mobility and media contribution we continue to invest to grow our business.

The farm girl would essentially secure another 10 million of funding.

In mobility, we want our Istent in Miami Beach country.

We have the first Albania or in any company to do so and they are already operating there.

Across the U S Europe and Asia Pacific. We are currently in discussion to bring our mobility service to new communities.

License application. Several seed you are in the final stage. We are proud of the partnership would be there with local governments and how our investor meeting about what technology enable us to move quickly.

We can put as far as specific request from CZ and at the time she likes you as to why competitors lose theirs.

Our our Jubilee.

Enable us to regularly oversight and beat our takeaway license from either.

In addition to organic growth, we are exploring other ways to quickly grow our fleet and see this is Terry.

At the moment, we are negotiating an M&A transaction with a potential partner also operating in the mobility sector.

Which could significantly increase our footprint.

Because we have probably get trade that we can pursue opportunity like visa using stock, which is often a better option than cash.

During the quarter, we made strong progress in building out what parts of that resource.

What's important is our deal with Google maps, you can see the way we operate Elbit scooter will now appear like a transportation option.

With a couple of thoughts the Google maps user can found that there'd be outbid scooter and start to write.

We have a deal with mortgage debt.

So they're they're they're user can see habits as a comparator.

So commuting option.

These partnerships are introduced us to a wide group of user.

They also purchase impostor as an alternative to other modes of transportation such as ride sharing this is a solid progress toward our goal of fully integration ourself into the white people commute through their season.

As warmer weather come people are returning to normal lives that are commuting to the office and see their friends.

Because of these it we expect our services to become even more vital.

That's fair with the spike in gas price and the difficulties presented by inflation should benefit our business.

Raising the conditions show they need the product be.

We brought in micro mobility sector and growth potential in present to us.

To take advantage of visa, we have now taken delivery.

New vehicles in many of our operating statement.

The new vehicle enable us to Max out our life, our licensed Scott and serves largest population.

Finally in meat Yep, we strengthened our partnership with Amazon Prime B.

In Italy, that'd be flights will now be a subscription option in the Chinese section of Prime video.

We also have the ml MLB Major league baseball to our lineup, which bring baseball weekly.

Now, let me turn the call over to our CFO Juniper football to discuss our financial performance for the first quarter Julio.

Thank you sorry about the water our detailed financials can be found in our earnings release and thank you.

So we will spend our time discussing the drivers of our financial performance.

I note otherwise all figures are for the first quarter of 2022, and all comparisons are with the first quarter 2021.

We started the year on necessarily know with good first four months across multiple operating metrics.

Revenue more than tripled due to growth in mobility and the contribution from the media business.

Mobility grow towards multi faceted and generated 48% of total revenue. We continue the expansion into new cities in the U S economy.

Growing our teams in every city and providing enhanced services operating metrics showed solid performance quarterly active platform users, but where occupancy D C, 66% and total trips where occupancy of 88%.

Paper is still dominates revenue, but the unlimited subscriptions grew by 76%.

Unlimited is popular among customers, though right frequently and value of our other services food delivery and live streaming our marketing team is working hard to promote subscriptions because.

It represents a good value bundles for our customers.

Media has quickly become an engine of growth for us, making up the other half of revenue in the quarter. Most of media revenue again came from our commercial validation of media right. So when habits lives subscriptions of where nearly 20% of revenue we're building life subscription momentum through the unlimited subscription.

Frank.

Going down the P&L cost of revenue was mostly media related operating expenses reflects our commitment to invest for growth the doubling of our opex was mostly from the growth of the business. We hired more talent and spent more on marketing. We're also now incur in the expense of being public.

Please note that we incurred $1 3 million in noncash stock based compensation expenses, which accounted for almost 6% of the total operating expenses.

Our growth goals are aggressive so naturally we are focused on maintaining a healthy level of funding in April we secured another 10 million up finding yet two convertible notes.

With the increased liquidity, we remain confident with our ability to fund the business and pursue our objectives. We're always exploring cost efficient forms of capital to fund the business and opportunities to further optimize our capital structure Max.

Next I want to update you on the financial lease agreement that we signed in June 2021 at 12 months, Lisa with a European financial institution for approximately 3000 E. Scooters. These agreement that became effective on March 1st the 2022, following the delivery of the vehicles to our warehouse we now.

You might be losing seed for this addition to our fleet.

Looking ahead, we see demand recovering to pre pandemic levels to fulfill this rising demand we're taking vehicles deliveries now in many cities. We believe we are well positioned to capitalize on the promise of the industry as the year progresses with increasing adoption of our environmentally friendly.

Expectation alternatives, we now expect 2022 revenue to more than double versus last year. This improved outlook reflects growing ride utilization NTT expansion.

Now, let me return the call to solve authority for the closing remarks.

Thanks, Julio we are delighted to see solid revenue growth in our mobility business and the power of leaving the subscription model is gaining traction.

Our business is balanced and diversified across several services that make life more convenient and environmentally friendly for our customer.

Based on the strong start of the year and the growing from such a across all our lines of business that we are excited to increase our revenue expansion for Duane to 'twenty two.

This concludes today's conference call.

We are open to us what are your question and would like to communicate with asset so don't hesitate to send us any question.

Thank you for spending time with us today.

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The conference has now concluded. Thank you for attending today's presentation you may now disconnect.