Helbiz reports revenue increase but dwindling cash reserves

Helbiz started out as a shared micromobility company but has since expanded to include ghost kitchens, media streaming and, most recently, a taxi service. The company reported its second-quarter earnings Monday after the bell. The startup was the first scooter operator to go public via the SPAC route, and many in the industry wish it wasn’t so after consistently meh earnings reports.
Since Helbiz’s public debut in August 2021, its earnings reports have shown a company that burns through dwindling cash reserves, doesn’t pull in enough revenue to make up for its high costs of o

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