Bird Global, Inc.

Q2 revenue was $48.3 million, down 28% or $18.4 million year over year. Consolidated gross margin was 40%, up 75 points from last year, and ride profit margin before vehicle depreciation was 57%, up from 47%. Adjusted operating expenses declined 50% year over year to $28 million, net loss was $9.3 million, and adjusted EBITDA improved from negative $28.9 million last year to negative $1.2 million. Free cash flow was negative $1.8 million. The company said revenue fell largely because it exited unprofitable and regulatory-challenged markets, and it temporarily suspended guidance while reassessing its financial plan.

Michael Washinushi framed his interim CEO role around operational discipline, city partnerships, and asset efficiency. He said Bird is focused on getting vehicles to the right place at the right time, improving rider and field-partner experience, and using the company’s two key assets: the team and the vehicles. His tone was confident and constructive, emphasizing progress across metrics and a renewed focus on operational excellence, while acknowledging the company is in a transition period.

As CFO, Washinushi highlighted strong expense control and margin improvement: adjusted operating expenses were $28 million, down 50% year over year and 58% of revenue, while gross margin reached 40% and adjusted EBITDA improved to negative $1.2 million. He also cited free cash flow of negative $1.8 million and said the company remains aligned with its goal of becoming sustainably free cash flow positive. On liquidity, he said Bird ended the quarter with total cash and cash equivalents of $11.7 billion, including $6.8 million in unrestricted cash. He said the business is streamlined and positioned to pursue sustained cash flow profitability.

There was no analyst Q&A in the transcript; the operator noted there were no questions. Management’s most important additional point was that it is temporarily suspending guidance while it reassesses the financial plan during the leadership transition. They also said next quarter they will begin reporting progress on vehicle efficiency metrics such as supply-demand matching and deployment rate.