Revenue Performance - Total net revenue from continuing operations decreased by $450, or 37%, from $1,225 for the three months ended September 30, 2023, to $775 for the three months ended September 30, 2024[122]. - European Mobility revenues decreased by $601, or 65%, from $918 for the three months ended September 30, 2023, to $317 for the three months ended September 30, 2024[124]. - Media revenues decreased by $234, or 97%, from $241 for the three months ended September 30, 2023, to $7 for the three months ended September 30, 2024[126]. - Total net revenue from discontinued operations decreased by $328, or 100%, from $329 for the three months ended September 30, 2023, to $1 for the same period in 2024[123]. Operating Expenses - Total operating expenses for the three months ended September 30, 2024, were $1,359, a decrease from $6,724 for the same period in 2023[119]. - Cost of revenue from continuing operations decreased by $830, or 63%, for the three months ended September 30, 2024, compared to the same period in 2023[128]. - Mobility cost of revenues decreased by $584 or 81% for the three months ended September 30, 2024, and $5,034 or 91% for the nine months ended September 30, 2024, primarily due to the closure of multiple locations in Italy[130]. - Other cost of revenues decreased by $201 or 40% for the three months ended September 30, 2024, and $1,456 or 62% for the nine months ended September 30, 2024[131]. - General and administrative expenses from continuing operations decreased by $3,944 or 82% for the three months ended September 30, 2024, and $10,476 or 66% for the nine months ended September 30, 2024[134]. - Sales and marketing expenses from continuing operations decreased by $112 or 93% for the three months ended September 30, 2024, and $1,070 or 95% for the nine months ended September 30, 2024[136]. - Research and development expenses were recorded at $480 for the three months ended September 30, 2024, reflecting a reclassification of IT expenses[138]. Net Loss and Income - Net loss from continuing operations was $1,658 for the three months ended September 30, 2024, compared to a loss of $7,456 for the same period in 2023[119]. - Total non-operating income (expenses), net from continuing operations decreased by $872 or 45% for the three months ended September 30, 2024, and by $6,494 or 85% for the nine months ended September 30, 2024[139]. - The Company recorded a gain of $7,596 from the sale of Wheels, which was completed on August 19, 2024[147]. Financial Position - As of September 30, 2024, the Company had cash and cash equivalents of $141[151]. - As of September 30, 2024, total financial liabilities increased by 15% to $16,973 million from $14,784 million as of December 31, 2023[154]. - The company has $2,454 million in outstanding principal related to an unsecured note that is in default, with accumulated interest recorded as short-term financial liabilities[156]. - Operating lease liabilities decreased from $623 million as of December 31, 2023, to $170 million as of September 30, 2024, following the exit from most lease agreements[160]. - Future minimum lease payments for operating leases are projected to be $20 million for the year ending December 31, 2024[161]. - The company recorded $4,290 million in accruals for legal contingencies as of September 30, 2024, up from $3,978 million as of December 31, 2023[173]. - The company has outstanding securities totaling 92,214,637 Class A common shares and 3,712 warrants, restricted stocks, and stock options as of September 30, 2024[162]. Legal and Settlement Matters - The company entered into a settlement agreement with LNPB, agreeing to pay $5,392 million to satisfy obligations under terminated agreements[170]. - The company is involved in legal claims with previous investors, with potential losses estimated between $0 to $7,120 million[177]. Related Party Transactions - The company recorded $451 and $975 as Other Revenues - Related Party for the three and nine months ended September 30, 2024, respectively[127]. - During the nine months ended September 30, 2024, the company issued invoices amounting to $6,814 million for services to be rendered under a service supply agreement with Everli S.p.A.[164]. - The company repaid $557 million in cash and $705 million by issuing shares to Palella Holdings LLC, a related party[166]. Operational Changes - The company suspended mobility operations in the United States and sold 100% of the equity interest of Wheels Lab, Inc. on August 19, 2024[114].
HELBIZ(HLBZ) - 2024 Q3 - Quarterly Report