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Strong revenue growth puts Donkey Republic on track to double revenue in 2022

Q1 2022 Key Performance Indicators
Company announcement no. 3 – 2022

** Total revenue was €1.0 million in the first quarter, up 84% compared to the first quarter of 2021.
The very strong growth in riders’ revenue (+179% vs 2021) is the driving force behind this performance. As in H2 of 2021, we are seeing a return of visitors in addition to better local loyalty. With a major subsidized operation (e.g. 1,650 electric bicycles in Antwerp) from later this year, no more new bike deliveries planned for the summer, Republic of donkeys is well positioned to achieve its revenue target of E9-10m in 2022.

** The number of users almost tripled (+179% compared to Q1 2021) and the number of trips reached more than half a million in Q1 (+73% compared to Q1 2021).
With the easing of restrictions related to Covid 19 Europegrowth comes largely from visitors. Republic of donkeys also continues to build its local user base, with local users approximately doubling from last year.

** Strong growth in the sales pipeline of B2G and B2C transactions.
Especially the top of the pipeline has increased significantly thanks to new sales initiatives. Overall, the subsidized SaaS and MaaS pipeline grew in the first quarter in line with expectations.

** Continued progress on longer mileage e-bikes.
Performance per battery swap increased from less than 5 rentals per swap with Gen1 e-bikes to over 10 rentals with Gen2 electric bicycles.

**Major improvements to city operations with retooling of reports, vehicles, and training materials.
A further normalization of operations is also underway in Q2 as we make Donkey operations the best practice for quality, financial viability, and scalability.

Metric Total for Q1 2022 Year-over-year growth compared to Q1 2021
Total revenue 1.0m E ⬆ 84%
Users 55k ⬆ 179%
Travels 566k ⬆ 73%
Fleet size (active bikes) 13k -1%
CO2 savings 72 tons ⬆ 73%

Read and download the full Q1 2022 report – PLEASE FIND ATTACHED


Republic of donkeys invites you to an online presentation webinar of our quarterly KPI report for the first quarter of 2022. The report will be published April 6, 2022.

Program: 1:00 p.m.-1:30 p.m.
** Presentation of Republic of donkeys (10 mins)
** Summary of changes in Q1 2022 (10 min)
** Q&A (10 mins)

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DonkeyRepublic Holding A/S
Erdem OvacikCEO
+45 26 37 29 96

Skelbækgade 4, hatch B, 4. sal.
1717 Copenhagen V
Email: [email protected]
Investor website:

Financial Advisor and Certified:
Clearwater InternationalAndreas Lauth LauridsenDampfærgevej 8, 1. floor
DK-2100 Copenhagen
[email protected]

Republic of donkeys is part of Europeis a leading end-to-end bike sharing solution provider providing both pedal bikes and e-bikes. The company aims to provide affordable and sustainable urban mobility for the masses, partnering with cities to make the humble bike the hero of urban transportation. The business spans across Europe and as of 31.12.2021, it operates 13,000 bicycles and e-bikes in 24 cities as a Mobilityas-a-Service (“MaaS”) provider. Additionally, it licenses its platform as a software as a service (“SaaS”) to partners operating 3,200 bikes in more than 60 cities. Based on its proprietary software at its core, Republic of donkeys offers cities and local partners a fully integrated turnkey solution, including critical software for all stakeholders, bikes, operations and support services. Republic of donkeys believes that bike sharing can be a key catalyst for the green transition of our economies and make cities more livable.,c3539291

(c) Decision 2022. All rights reserved., sources Press Releases – English