Bird SPAC Presentation Deck
Vehicle innovation and FM model underpin continued Ride Profit
margin improvement
BIRD
For every $10 earned
Sharing Revenue¹
(-) Ride Costs
Ride Profit
(before Vehicle Depreciation)
% of Sharing Revenue
(-) Vehicle Depreciation
Ride Profit
(after Vehicle Depreciation)
% of Sharing Revenue
In-House Ops during Winter
(Q4 2019A)
$10.00
10.83
($0.83)
(8)%
8.83
($9.66)
(97)%
I
Fleet Manager Ops during
COVID (H2 2020A)
Reduced through
the FM model
! Fully shifted to Bird-
designed vehicles
I
$10.00
5.76
$4.24
42%
2.84
$1.40
14%
Note: Ride Profit is a non-GAAP metrics, see reconciliation in Appendix. Ride Profit (after Vehicle Depreciation) equated to Gross Profit for FY2023P for illustrative purposes.
1. Net of sales tax, credits, discounts, refunds, disputes and failed payments; excludes vehicle and spare part sales.
2. Other Ride Costs includes service centers and field operations (including labor), mobile data, AWS, city revenue share, permits fees and CC fees.
I RpD increase maintains
strong FM earnings
Ongoing vehicle
improvements
Forecast
(FY2023P)
$10.00
3.78
$6.22
62%
1.73
$4.49
45%
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