Mobility Revenue Up 135%

Active Users and Trips Up Substantially

Helbiz Unlimited subscriptions grew by 246%

New Media Business Contributed 22% of Total Revenue

Helbiz Inc. (“Helbiz” or “the Company”) (Nasdaq: HLBZ), a global leader in micro-mobility and the first company in its industry to be publicly listed in the U.S., today reported its financial results for the year ended December 31, 2021 on Form 10-K filed today with the U.S. Securities and Exchange Commission.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220414005766/en/

Helbiz Announces 2021 Financial Results, YoY Revenue Up 190% (Graphic: Business Wire)

Full Year 2021 Business and Financial Highlights

Financial

• First micro-mobility company to list in the U.S.
• 2021 revenue of $12.8 million up 190% from $4.4 million in 2020
• Operating expense growth reflects the launch of both delivery and media lines of business, and significant investments in products, technology and marketing infrastructure
• Raised over $65 million to fund growth initiatives
• Year-end cash and equivalents of $21.1 million

Mobility

• Mobility Revenue increased by 135% from $4.2 million in 2020 to $9.9 million in 2021, accounting for 77% of total revenue
• Helbiz Unlimited subscriptions grew by 246%
• 41 licenses awarded in 34 cities in the U.S. and Europe
• Annual Active Platform Users (“AAPUs”), which measures adoption and usage frequency, increased by 80%
• Trips grew by 123%

Media

• Helbiz Live media service generated revenue of $2.8 million in 2021
• Secured rights for Italy Serie B soccer, NCAA Football and Basketball, and others
• Expanded reach via distribution partnerships with Amazon Prime Video, ESPN, and others
• Meaningful revenue contribution since summer 2021 launch: over 20% of full year 2021 revenue

Delivery

• Opened one of the largest “ghost kitchens” in Europe in August 2021
• Expanding delivery business internationally by exploring locations in the US and Europe

Helbiz Founder and Chief Executive Officer Salvatore Palella said, “2021 was full of accomplishments that marked our progress toward becoming a leader in urban mobility and lifestyle services. We made tremendous progress combining technological innovation and partnerships, upgrading Helbiz from a mobility-focused company into one providing multiple service offerings, such as media content, advertising, and food delivery. We enter 2022 with strong momentum in each of our lines of business. Looking forward, we expect to grow our fleet, increase team members, and expand into more cities globally.”

Elaborating on partnerships and technology, Palella said, “Technology is fundamental to Helbiz. We are innovating to enhance the lives of our customers and working hard to improve our core services, especially around safety. Our technology allows our riders to be safe and for us to be the best possible partners to local governments and communities. For example, our app can confirm helmet use by taking a selfie photo, detect unsafe operation and follow local guidelines on operating areas and speed. As well, we have worked with partners like one that integrated computer vision technology to detect sidewalk riding and will slow down or stop the device.”

Palella continued, “An important priority for us and our customers is environmental and social impact. In 2021, we adopted our Environmental, Social and Governance (ESG) policy, which gives interested parties information on our efforts. We designed our ESG framework around internationally recognized standards such as GRI and the UN Sustainability Framework, and we operate Helbiz in compliance with these guidelines, policies and best practices. We will continue to expand the information we share around our ESG efforts to soon include a continually updated dashboard hosted on our website.”

Commenting on financial performance, Helbiz Chief Financial Officer Giulio Profumo said, “Revenue performance was outstanding, up 190% for the year despite many of our cities still experiencing an impact from COVID. Our new media service was a strong contributor, confirming our ability to introduce attractive new services to our growing customer base. Furthermore, we are building visibility by increasing our subscription revenues, both for Helbiz Unlimited for mobility and Helbiz Live for media. Subscriptions are a key focus for us, because they tighten the customer relationship, secure recurring revenue and encourage greater use of our services.”

Profumo added, “Looking ahead, we are excited about our prospects for 2022 and beyond. The growth of our core mobility business will be driven by our investment in new city openings and expanding our fleet around the world. We expect our 25,000 vehicle fleet expansion to roll out over the next few months, greatly increasing our revenue-generating capacity. Importantly, we can fund our growth: we exited 2021 with a cash balance of $21 million, additional borrowing capacity, and a publicly traded stock that gives us access to the capital markets. After an incredibly successful 2021, we have never been more excited about our outlook.”

Conference Call Details

Helbiz will conduct a conference call at 9:00 a.m. Eastern time on Friday, April 15, 2022 to discuss the Company’s business and financial results.

Live Dial-in Details:

North America (toll-free): +1 (833) 693-0551

International: +1 (661) 407-1590

Conference ID: 4545176

Webcast: Here

A simultaneous webcast of the conference call will also be available on Helbiz's investors relations website at https://investors.helbiz.com/. An archived version of the webcast will be available on the Helbiz investor relations website for one year at https://investors.helbiz.com/.

About Helbiz

Helbiz is a global leader in micro-mobility services. Launched in 2015 and headquartered in New York City, the company offers a diverse fleet of vehicles including e-scooters, e-bicycles and e-mopeds all on one convenient, user-friendly platform with over 40 licenses in cities around the world. Helbiz utilizes a customized, proprietary fleet management technology, artificial intelligence and environmental mapping to optimize operations and business sustainability. Helbiz is expanding its urban lifestyle products and services to include live streaming services, food delivery, financial services and more, all accessible within its mobile app. For additional information, please visit www.helbiz.com.

Forward-Looking Statements

Certain statements made in this press release are “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “anticipate”, “believe”, “expect”, “estimate”, “plan”, “outlook”, and “project” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements reflect the current analysis of existing information and are subject to various risks and uncertainties. As a result, caution must be exercised in relying on forward-looking statements. Due to known and unknown risks, actual results may differ materially from the Company’s expectations or projections. The following factors, among others, could cause actual results to differ materially from those described in these forward-looking statements: (i) the failure to meet projected development and production targets; (ii) changes in applicable laws or regulations;(iii) the affect of the COVID-19 pandemic on the Company and its current or intended markets; and (iv) other risks and uncertainties described herein, as well as those risks and uncertainties discussed from time to time in other reports and other public filings with the Securities and Exchange Commission (the “SEC”) by the Company. Additional information concerning these and other factors that may impact the Company’s expectations and projections can be found in its periodic filings with the SEC, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2021. The Company’s SEC filings are available publicly on the SEC's website at www.sec.gov. Any forward-looking statement made by us in this press release is based only on information currently available to Helbiz and speaks only as of the date on which it is made. Helbiz undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise, except as required by law.

(A) Commitments and Contingencies

Leases

The Company entered into various non-cancellable operating lease agreements for office facilities, permit and brand licensing, e-mopeds leases, corporate vehicles’ licensing, and corporate housing with lease periods expiring through 2024. These agreements require the payment of certain operating expenses, such as non-refundable taxes, repairs and insurance and contain renewal and escalation clauses. The terms of the leases provide for payments on a monthly basis and sometimes on a graduated scale. The Company recognizes rent expense on a straight-line basis over the lease period and has accrued for rent expense incurred but not paid.

Future annual minimum lease payments as of December 31, 2021, are as follows:

Lease expenses under operating leases were $5,203 for the year ended on December 31, 2021, and $1,216 for the year ended on December 31, 2020. In detail, the 2021 lease expenses are highly impacted by a non-recurring annual lease agreement entered with Skip Transport, Inc on January 1, 2021, for a cumulative amount recorded as Cost of Revenues of $2,750. Based on the mentioned lease agreement, the Company leased: (i) the transportation license to operate e-scooters in Washington D.C., and (ii) Skip’s mobile application in specific areas.

Media rights – Purchase Commitments

During 2021, the Company decided to enter into a new business line: the acquisition, commercialization and distribution of contents including live sport events to media partners and final viewers. In order to commercialize and broadcast media contents, the Company entered into non-cancellable Content licensing and Service agreements with multiple partners such as LNPB. These agreements require the payment of certain fees and contain renewal and escalation clauses. The terms of the agreements provide for payments on a periodical basis and on a graduated scale. The Company recognizes expense on a straight-line basis over the agreement period and has accrued for expense incurred but not paid.

Future annual minimum payments related to Media rights’ agreements as of December 31, 2021, are as follows. All the agreements are in Euro, in order to calculate the future annual minimum payments, the Euro payments are exchanged in Dollar using the 2021 average exchange rate.

Content licensing expenses, recorded as Cost of Revenues, were $9,415 for the year ended on December 31, 2021.

Miami FC – Sponsorship Commitments

The Company entered into an agreement with Miami FC for the sponsorship of four United Soccer League (“USL”) Championship Seasons. The agreement expires upon the conclusion of the Miami FC’s 2023 USL Championship season. The Company may terminate the agreement, with at least 180 days’ notice, if the Company ceases operations in the South Florida Market or if the United Soccer League Championship is terminated or reduces its schedule of games per season to 30 or less.

Future annual minimum sponsorship payments as of December 31, 2021, are as follows:

Litigation

There are currently no material legal proceedings against or that have been against the Company. The Company does not disclose the litigation with a remote possibility of an unfavorable outcome.

(B) Includes stock-based compensation for employees and services received, as follows

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