Bird may not have enough funds to continue shared micromobility business

Just hours after Bird said it had overstated revenue for more than two years by recognizing unpaid customer rides, Bird dropped a growing concern warning. In a regulatory filing, the company said it might “need to scale back or discontinue certain or all of its operations in order to reduce costs or seek bankruptcy protection.”
Bird closed out the third quarter with $38.5 million in free cash flow. Without additional funding, the company said it would be unable to meet its obligations over the next year. Bird points to “factors beyond its control” like current market vo

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