Helbiz’s third quarter earnings show a company that’s burning cash, not making revenue gains and losing riders year over year. Helbiz’s developing sports streaming business did, however, record some modest improvements.
On Monday, the micromobility SPAC released its Q3 earnings, the same day that Bird, its sole rival in the public market, did the same. Neither business is operating efficiently or doing well on the stock market. Bird acknowledged that it has overstated its income for two years and issued a warning about the developing concern. Both businesses are trading below $1, putting their stock market listings at danger.