Bird Global, Inc.

Thank you for standing by. This is the conference operator. Welcome to the BIRDS third quarter 2021 earnings call. As a reminder, all participants are in listen-only mode and the conference is being recorded. After the presentation, there will be an opportunity to ask questions. To join the question queue, you may press star then one on your telephone keypad. Should you need assistance during the conference call, you may signal an operator by pressing star and then zero. I'd now like to turn the conference over to Andrew Tom, Investor Relations. Please go ahead.

Good afternoon, everyone, and welcome to Byrd's third quarter 2021 earnings conference call. Before we begin, I need to remind you that this call contains forward-looking statements under U.S. federal security laws. These statements are neither promises nor guarantees and are subject to risks and uncertainties that could cause actual results to differ materially from historical experience or present expectations. A description of some of the risks and uncertainties that could cause actual results to differ materially from those indicated by the forward-looking statements on this call can be found in the risk factor section of our Form 10-Q filed on November 15th, 2021, and our other filings with the Securities and Exchange Commission. This call will also reference non-GAAP measures that we view as important in assessing the performance of our business. Reconciliation of the non-GAAP to GAAP amounts is available in our earnings release on the company's investor relations page at I will now turn the conference call over to Byrd's CEO and founder, Travis Van Der Zanden.

Thank you, Andrew, and thank you everyone for joining us today for our third quarter earnings call. This marks our first earnings call as a public company following the close of our business combination with Switchback 2 on November 4th. I want to thank the Byrd and Switchback teams for their hard work and dedication that have led us to this next chapter for Byrd. I could not be prouder of our accomplishments and the growth we have delivered in just four years, and I know we are just getting started. Today, I will review our third quarter performance highlights as well as progress to date against our strategic initiatives. Ibo Ling, our CFO, will then provide more details on our financial performance and outlook before we open the call up for questions. Our third quarter results reflect continued momentum in the business as we drove strong revenue growth and improved profitability for the period. Due to the strong year to day performance, we are pleased to increase our full year 2021 outlook as part of our third quarter update. We delivered 65.4 million in revenue for the quarter, representing 63% revenue growth versus last year. Combined with significant gross margin expansion, which drove improved adjusted EBITDA, Underlying this performance was strengthening demand across regions, continued benefits from the rollout of our new Bird 3, growth in our long-tail markets, and continued strength from our fleet manager program. We reported $79.5 million in gross transaction value, representing a 60% increase compared to last year, while ride profit margin before vehicle depreciation as a percentage of our sharing revenue was 50%. We have grown our global footprint, expanding to over 350 cities across more than 30 countries. During the quarter, we were pleased to launch our service in New York City, as well as win a series of notable new permits, permit renewals, and fleet size increases, including San Francisco, Indianapolis, Lexington, Durham, Redditch, and Antwerp. We're also pleased with our pace of long-tail market expansion. On average, year to date, We're launching our service in one new city every other day or every 48 hours. Cities of all sizes and geographies are embracing micro mobility more than ever before, and we are thrilled to help enable this momentum and to meet the demand for eco-friendly transportation alternatives. A key reason why CitySelect and partnered with Bird is our best in class vehicles, which are centered around three principles, sustainability, safety, and smart technology. Earlier this year, we began the rollout of our Bird 3 vehicles, which has been a market success for our vehicle evolution as well as our unit economics. Furthering this innovation and in response to city demand, we developed and designed the industry's first smart sidewalk protection technology featuring an integrated sensor fusion module. The technology is designed to deliver centimeter-level location accuracy specifically for the micromobility use case. Along with continued enhancements to our e-scooter fleet, We continue to advance and scale our e-bike offering. In August, we introduced our new electric bird bike for consumers. The future of transportation is all electric. By diversifying birds' consumer and shared products to include e-bikes as well as e-scooters, we are uniquely positioned to lead the revolution to eco-friendly transportation for the billions of annual trips that are five miles or less. Our new bird bike for sharing is now live in San Diego and Windsor. with plans to launch Newark and Rome. And importantly, we are the first globally scaled micro EV company that has both capabilities in shared services as well as in retail. While we are experiencing some delays attributed to the global supply chain disruption, which we will provide more color on in a moment, demand for our bikes is surpassing expectations. Vehicle innovation is a key component of our compelling unit economics and is further strengthened by our fleet manager model where we partner with local logistics companies to aid in our operations. We continue to drive significant ride profit improvement through our novel fleet manager operating structure. Since rolling out our fleet manager model, we have consistently delivered year-over-year ride profit margin expansion, and we continue to see opportunities to drive this further. Importantly, the fleet manager model has empowered local businesses and entrepreneurs, given cities a hyper-local resource with on-the-ground neighborhood expertise and helped enable our expansion into long-tail cities. Our fleet manager retention and sourcing pipeline remains very robust. We continue to see strong demand from providers looking to become fleet managers, and our retention remains high. In summary, we are continuing to make great progress against our initiatives, and our excitement for the future and the opportunity to further our mission has never been greater. I will now turn the call over to Yibo to review our financial results and outlook.