Bird Rental motorcycle rental company Bird Rides on Thursday reported a small loss in the second quarter, with revenues rising above the epidemic levels as the COVID-19 limits dropped in major markets.
These are the quarterly results of a Los Angeles-based e-mobility provider that will be released before the public starts by joining the unregistered company Switchback II Corp (SWBK.N) in a $ 2.3 billion deal.
That agreement must be closed before the end of the third term.
Founded in 2017, the bird has grown rapidly to operate in more than 300 cities around the world. Of those, there are about 50 more since June.
During the second quarter, the company said it would begin renting electric bicycles this year to other cities in North America and Europe.
Bird reported a second-quarter loss of $ 43 million, compared to $ 50 million over the same period in 2020.
Revenue for the second quarter dropped to $ 60 million from $ 10.4 million over the same period in 2020 when a lockdown closure almost shut down the e-mobility industry.
Inspired by the impact of the epidemic, Bird sent $ 95 million by 2020. The company said it expects 2021 revenue to increase to $ 188 million and more than double its $ 400 million by 2022.
Bird’s chief financial officer Yibo Ling said in a statement that restrictions on e-scooter riding had increased this year “despite the ongoing COVID atmosphere and seasonal conditions, and we expect to see continued line development as global demand returns to pre-epidemic levels.”
Starting again on Thursday said it would start selling indoor e-bikes. The bike will be sold in the United States and Europe for a recommended retail price of $ 2,299.