Helbiz, Inc.

Thank you for standing by and welcome to the Hellbiz 3rd Quarter and 9 Months 2022 Earnings Conference Call. Currently, all participants are in the Synony mode. As a reminder, today's program will be recorded. If anyone objects, please disconnect now. I'd like to introduce your host for today's call, Gary Dvorak, Managing Director of the BlueSherp Group. Mr. Dvorak, please go ahead.

Thank you, Operator, and hello, everyone. Welcome to Hellbiz third quarter, nine months, 2022 results conference call. We issued our financial results press release today after the market closed. It's available via news wires and on our website, it's investors.hellbiz.com. A replay of this conference call will be available later today on the investor relations page of our website. With us today, our founder and chief executive officer, Salvatore Pallella, chief financial officer, Giulio Profumo, and Chief Operating Officer Jonathan Hanstead. The team will first discuss results, then we will answer some top questions submitted to us via the Robin Hood app. Please note that our press release and this conference call contain forward-looking statements that 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. Health Biz can give no assurance that these statements will prove to be correct. We have no obligation to update these statements. I will now turn the call over to Salvatore to begin. Salvatore?

Thank you, Gary, and good day, everyone. Thank you for joining us to review our business performance and financial resource for the third quarter and first nine months of 2022. I will first update you with the exciting quarterly progress in our business. Then Jonathan will elaborate more on cost optimization. Lastly, Giulio will give us the financial perspective. In the third quarter, we made significant progress in improving cost efficiency and margins. And therefore, we started in the earnest in the second quarter. We trimmed unnecessary costs in operations, administration, headcounts, and marketing. For example, we started to work with a third-party staffing company instead of hiring directly. All these efforts and these will be more are starting to drive us to profitability. Cost reduction are positively impacting cost revenue in our core mobility business. While Jonathan will elaborate more on this and I will call out that we anticipate operating efficiency in micromobility. Cross-functional operating got smoother and we increased sleep productivity. Also, externalizing some of our European operations contributes to better mobility cost of revenue. We anticipate even higher operating efficiency in mobility after we close the acquisition of wheels. Before we take a deeper review in mobility, I would like to highlight our year-to-date revenue growth of 30%. In this difficult time, I'm proud that our team could achieve this remarkable performance. In mobility, we expanded our operating area in the U.S. We expanded operation in Miami-Dade County and adding our newest e-bike model to the local fleet. In Europe, we extend beyond Italy to cover Spain by launching our first e-scooter fleet there. With our commitment to bring everyone modern and sustainability transportation solutions, we will continue expanding into more cities, allowing more people to benefit from our micro-mobility products and services. Our third quarter and nine-month mobility revenues leap due to the economic end-wish. With most of our mobility revenue coming from Europe, the depressing of the euro against the U.S. dollar caused lower revenue. In addition, delayed deployment affected our mobility revenue. The over-licensed renewal process means longer than expected pending time, so operators are holding the deployment of the vehicle and waiting for approval. We expect the situation to improve in the quarter ahead, and we anticipate redeployment of our vehicle, especially e-mobile. Mobility cost of revenue was reduced substantially as a buffer against lower revenue to some extent. Now let's discuss about new taxi service. Last quarter, we announced our on-demand taxis available on all our app users. Complete Medet offering last week, we announced a partnership with Vuitaxi, a leading taxi operator in Italy. Now help this user can book taxi ride whether individual or share it directly from our app. A key feature is being show the maximum price they could be charged before riding. We made meaningful progress in the wheels acquisition during the quarter. After a throw-out due to diligence a couple of weeks ago, we signed a merger agreement. We are working on closing of the deal as we speak. We expect to see synergy in operations and financial after closing. We should boost our near-term stop-line and margin while driving forward eventually bottom-line profitabilities. The increase in our nine-month top line was primarily attributed to higher media revenue. However, recall that we are launching the media business last August, so the highlight growth rate in media on a one-year-over-year comparison basis is less meaningful. Additionally, due to the substantial cost of revenue associated with media, We achieved the high media revenue by sacrificing our margin potential. Therefore, we are rethinking how we will operate our media business. Our main focus needs to be on our core micro-mobility business. We extended our partner ecosystem with notable progress in mobility and live media. We partnered with OneFootball to bring Sirius BKT to Italy and the US by cooperating with more international entertainment companies. Sirius B is now available in more countries in Asia and Africa. In mobility, we extended our cooperation with Movit and started a partnership with the target-based MSSA platform, Keen2Go, which improves user by offering faster and easy access to vehicles while pursuing a more sustainable lifestyle. Now I want to hand this offer to Jonathan to talk about our cost optimization. Jonathan.