E-bike Leader Aims for Profitability Amidst Rival Bankruptcies
Belgian electric bike maker Cowboy is aiming to achieve full-year profitability by 2024, despite some of its competitors facing financial difficulties. The company's CEO expects Cowboy to reach profitability on an EBITDA basis by the end of Q2 2023 and sustain it through Q3. Cowboy, often referred to as the "Apple of e-bikes," designs bikes and integrates software features through its app. While the e-bike industry has experienced challenges due to a shift in supply chain dynamics and decreased demand, Cowboy's unique business model as a designer rather than a manufacturer has allowed it to maintain a slimmer cost line. The company has seen revenue growth and reduced losses this year, and it secured additional funding in April. The long-term outlook for e-bikes remains strong, driven by sustainability and increasing demand for micro mobility.