Bird Results Presentation Deck
Reconciliation of Ride Profit to Gross Margin
BIRD
(in millions)
Gross margin
Vehicle depreciation
Vehicle count adjustments
(3)
Product Sales division
(2)
Three Months Ended December 31,
2021
$
Ride Profit (before Vehicle Depreciation)
Vehicle depreciation (1)
Ride Profit (after Vehicle Depreciation) $
2022
29.4 $
20.4
(0.3)
0.1
49.7
(20.4)
29.3 $
3.7
13.9
4.6
(0.7)
21.5
(13.9)
7.6 $
$
Year Ended December 31,
2022
2021
34.7 $
59.8
1.2
30.6
126.3
(59.8)
66.5
$
22.7
49.8
4.7
(0.5)
76.7
(49.8)
26.9
1. We exclude vehicle depreciation as these costs are non-cash in nature. Vehicle depreciation excludes tariff depreciation and other adjustments, which were $- million and $(1.2) million for the three months ended December 31, 2022 and 2021, and $(0.3) million and
$(2.5) million for the years ended December 31, 2022 and 2021, respectively.
2.
We exclude vehicle count adjustments as these adjustments are made based on results of physical inventory counts, which are non-cash in nature.
3. We exclude the revenue and cost of revenue associated with vehicle sales to retail customers and Bird Platform partners.
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