Bird Results Presentation Deck
Reconciliation of Adjusted EBITDA to Net Loss
BIRD
(in millions)
Net loss (1)
Interest expense, net
Provision for income taxes
Depreciation and amortization
(2)
Vehicle count adjustments
Stock-based compensation expense
Other income, net
Legal settlements and reserves
Impairment of product sales inventory
Impairment of assets
(3)
Other non-recurring, non-cash, or non-core items
Adjusted EBITDA
Three Months Ended December 31,
2021
$
$
2022
(36.4) $
3.0
1.5
20.8
(0.3)
13.3
2.8
0.2
1.2
6.1
$
(46.7) $
1.1
0.1
15.3
4.6
82.4
(86.7)
4.6
1.6
(23.8) $
Year Ended December 31,
2022
(358.7) $
10.8
2.0
62.0
1.2
95.3
(125.4)
(0.6)
31.8
215.8
3.7
(62.1) $
2021
(214.9)
6.1
0.2
54.9
4.7
86.7
(26.6)
6.6
1.4
(80.9)
1. Net loss during the three months and year ended December 31, 2022 includes the recognition of $28.8 million and $23.3 million, respectively, of unredeemed preloaded wallet balances from prior periods.
2. Depreciation and amortization excludes tariff depreciation and other adjustments, which were $- and $(1.2) million for the quarters ended December 31, 2022 and 2021 and $(0.3) million and $(3.3) million for the years ended December 31, 2022 and 2021, respectively.
3. Consists primarily of $3.0 million of restructuring costs for the year ended December 31, 2022 and $1.4 million of Business Combination expenses, including a one-time initial public offering-related bonus to Fleet Managers, for the year ended December 31, 2021.View entire presentation