Q4 2022 Investor Presentation
2021 vs. 2022 results
2021
2022
Δ
Average Daily Vehicles Deployed
16,899
33,004
95%
Average Daily Rides
per
Vehicle
2.88
2.37
(18)%
Average Net Revenue per Ride (USD)
0.96
0.88
(8)%
Net Revenue (USD, thousands)
16,999
24,998
47%
Cost of Revenues, excl. Fleet Depreciation
(USD, thousands)
(11,752)
(18,636)
59%
% of Net Revenue
69%
75%
Comments
~2X growth in fleet size, including new modalities.
↓ Lower daily rides per vehicle in sub-scale launches of new smaller cities.
Shorter ride durations under per minute pricing model.
Sub-scale operations in newly launched smaller cities with fixed minimum viable scale costs, and yet to
be consolidated operating teams serving distinct modalities.
(9,097)
(12,777)
40%
↑ Economies of scale in fixed cost. Increase in team and marketing expenses together with introduction
of new car-pooling service pilot, and pre-listing advisory expenses.
G&A (USD, thousands) 1
% of Net Revenue
54%
51%
Adj. EBITDA (USD, thousands) 2
(1,645)
(3,873)
(135)%
Adj. EBITDA Margin
(10)%
(15)%
Source: Based on audited GAAP results for the years ended December 31, 2021 and 2022. 1. G&A includes selling and marketing; other income/expense, R&D expenses. 2. Adjusted EBITDA is calculated by adding depreciation, amortization, taxes, financial expenses (net of financial income) and one-time charges
and non-cash adjustments, to net income (loss).
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