G-Bike’s 2024 Revenue Surges 40% to $58.3 Million[Micromobility Pro] South Korea’s Gbike grew revenue 40% to $58.3M in 2024, more than doubled operating profit, and turned equity positive following a major balance sheet restructuring.Welcome to Micromobility Pro, a bi-weekly publication which is part of The Micromobility Newsletter, where we deep-dive into the financials of micromobility companies and share exclusive insights tailored for professionals and members. Micromobility America 2026🎟 Early Bird missed? Don’t worry, tickets are now up to 70% off! Prices start at $399, with discounts for multiple passes. Sale ends 15th October. 🎟 Early Bird Rates for Sponsors - Sale ends 31st October. [Get Tickets] | [Sponsor/Exhibit] | [Speak at the Event] | [Startup Application] | [Free Pass for City Officials, Students & Researchers] 🇩🇪 We just announced Micromobility Europe 2026 (Berlin): Get tickets hereContents
About G-BikeGbike is a South Korean micromobility company established in August 2017. It operates GCOO, a shared mobility platform offering bicycles and e-scooters, complemented by software development and sales. Headquartered in Seoul’s Gangnam-gu district, the company has pursued an international growth strategy with subsidiaries in the United States (GBIKE USA Inc.), Thailand (Thai Personal Mobility), and Vietnam (Viet Personal Mobility Co., Ltd.). In late 2024, Gbike expanded into Ghana, marking its first African operation. The company is controlled by CEO Yoon Jong-soo, who holds a 31.6% stake. 2024 Financial PerformanceGbike reported $58.3 million in revenue for 2024, a 40% increase from $41.7 million in 2023. Operating profit more than doubled to $6.96 million, while net profit rose to $2.82 million. Part of the improvement came from a change in accounting policy. The company extended the useful life of its bicycles and batteries from four years to five, reducing annual depreciation by $1.6 million and boosting net income... Continue reading this post for free in the Substack app |
G-Bike’s 2024 Revenue Surges 40% to $58.3 Million
Thursday, 9 October 2025
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