Jul 15, 2019

Bird CEO counters report of $100 million Q1 loss

Bird scooters. Photo: Mark Ralston/AFP/Getty Images

In an effort to counter a report from The Information that his scooter company posted a $100 million loss in Q1, Bird CEO Travis VanderZanden released a comparison spreadsheet on Twitter.

What it means: While the comparisons are incomplete and most certainly not apples to apples, Bird's revenues and margins are impressive, even given the truncated timeframe, analysts told Axios.

  • VanderZanden added that the $100 million loss was a one-time "accounting write off" from depreciated vehicles purchased in 2018 and not a net loss.
  • Bird chief product officer Ryan Fujiu, who previously worked for Uber and Lyft, also posted the comparison on social media.

What he's not saying: Neither Fujiu nor VanderZanden denied The Information's claim that Bird is down to $100 million in cash, after raising $700 million, and is seeking $300 million in new funding.

Go deeper: Scooter companies' meteoric rise in one chart

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Lyft stock price up after strong revenue and raised outlook

Lyft listing on the Nasdaq. Photo: DON EMMERT/AFP/Getty Images

Lyft's share price is up by more than 11% after the company's Q2 earnings beat analyst revenue expectations, but also posted much wider losses than predicted (largely because of IPO-related stock compensation).

The big picture: Lyft also raised its sales outlook for the year to roughly $3.5 billion.

Go deeperArrowAug 7, 2019

Lyft eases off price war post-IPO

Photo: TIMOTHY A. CLARY/AFP/Getty Images

Since going public in March, Lyft is now easing off its price-cut war with rival Uber, instead competing on “brand and experience."

The bottom line: As part of its Q2 earnings, the company revealed that its sales and marketing expenses for incentives — meaning ride "coupons" — have dropped by 40% from the first quarter. It’s also quietly raising some prices at the end of June to improve its margins.

Go deeperArrowAug 8, 2019

Uber stock price drops after missed Q2 expectations

Photo: Jaap Arriens/NurPhoto via Getty Images

Uber's stock price dropped by more than 12% after its Q2 revenue and losses missed analyst expectations.