Last Mile Holdings Ltd. a leading micro-mobility company with the broadest product suite in the industry, today provided an update highlighting certain key performance indicators driving the recent success and significant growth in its recently acquired and now fully integrated operating subsidiary, Gotcha Mobility.
Last Mile Holdings Ltd. (“MILE” or the “Company”) (TSXV:MILE) (OTC:AZNVF), a leading micro-mobility company with the broadest product suite in the industry, today provided an update highlighting certain key performance indicators (“KPIs”) driving the recent success and significant growth in its recently acquired and now fully integrated operating subsidiary, Gotcha Mobility (“Gotcha”).
“I am thrilled to work with an amazing team where our post-acquisition integration and on-the-ground business execution have translated into impressive KPI results as we continue to grow our business,” said Sean Flood, CEO of Gotcha.
In the first five months of 2020 Gotcha has had exciting material increases in several KPIs within its various e-mobility markets, including:
- 43% increase in number of trips per month from 36,200 in January to 51,900 in May;
- 208% increase in minutes ridden per month from 416,600 in January to 1,281,500 in May;
- 53% increase in riders per month from 13,300 in January to 20,300 in May;
- 17% increase in vehicles deployed from 3,990 in January to 4,650 in May.
Throughout the ongoing COVID-19 pandemic, Gotcha has been coordinating efforts with university and municipal partners to keep its products on the streets and provide riders a socially-distant transportation alternative. The increase in ridership is reflected in riders’ engagement with a 208% increase in total minutes ridden (compared to a 17% increase in vehicles deployed), proving Gotcha’s products are in high demand as a safe transportation method. With comprehensive product cleaning procedures and safety messaging, Gotcha is ensuring its riders stay safe and informed.
“Gotcha’s record performance year-to-date is a clear endorsement of our diversified platform of transportation solutions as well as our highly-targeted go-to-market approach,” said MILE CEO Max Smith. “Our exclusive contract partnership model has proven to be far more resilient than other mass-expansion, undifferentiated offerings. During a time of global economic uncertainty, this disciplined approach has enabled our team to retain existing employees and also bring on additional staff to satisfy the demand we’re currently witnessing. Riders are taking longer leisure trips, using shared bikes and scooters as a way to get outside while adhering to social distancing guidelines. We believe the current catalysts, while influential in the near term, will also lead to longer term changes in consumer behavior specifically within our key markets. As more communities adopt shared micro-transit, MILE will continue to develop its multi-modal portfolio to meet the needs of riders and partners.”
About Last Mile Holdings
Last Mile Holdings (TSXV: MILE), formerly OjO Electric, is one of the largest micro-mobility companies in the U.S., offering the broadest product suite in the industry. Last Mile has 30 university and 50 municipal contracted shared mobility systems under the OjO and Gotcha brands. The acquisition of Gotcha in the first quarter of 2020 provides an expansive growth pipeline and a portfolio of products including electric bikes, trikes, scooters, and cruisers. For more information, visit lastmile-holdings.com.
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About Gotcha Mobility
Gotcha, a subsidiary of Last Mile Holdings, is a shared electric mobility company dedicated to providing innovative products and technologies that get people out of single-occupancy cars and safely onto efficient, sustainable micro-transit products. The company operates electric bikes, trikes, scooters, and cruisers as transportation solutions tailored to cities and universities across the US. Gotcha empowers communities to lead happier, more productive lives through the transformative power of affordable, accessible micro-transit. For more information, visit ridegotcha.com.
Cautionary Statement Regarding Forward-Looking Information
This news release includes certain “forward-looking statements” and “forward-looking information” under applicable Canadian securities legislation that are not historical facts. Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements in this news release include, but are not limited to, statements with respect to: Last Mile Holdings and Gotcha’s business and prospects and the Company’s objectives, goals or future plans, including the planned deployment of its mobility units; and the business, operations, and management of the Company. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: the ability of Company to meet its deployment targets, access to sufficient mobility units, meeting the requirement of the permits granted to Company, general business, economic and social uncertainties including the impact of COVID-19; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; delay or failure to receive board, shareholder or regulatory approvals; those additional risks set out in the Company’s public documents filed on SEDAR at www.sedar.com; and other discussed in this news release. Accordingly, the forward-looking statements discussed in this release, may not occur and could differ materially as a result of these known and unknown risk factors and uncertainties affecting the companies. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility of the adequacy or accuracy of this release.
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SOURCE Last Mile Holdings Ltd.
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Last Mile Holdings: Email: firstname.lastname@example.org, Phone: +1-949-574-3860; Gotcha: Caroline Passe, Director of Public Relations, Email: email@example.com, Phone: +1-843-225-7024Copyright CNW Group 2020