Mike and I hope you've all had a strong first quarter and that both your professional and personal lives are going well.
This shareholder update is intended to keep you informed on our progress and to introduce Allen Taylor, who will now be leading investor relations. Going forward, and as written below, Allen will serve as your primary point of contact and will provide much more frequent and consistent updates. Mike and I will, of course, remain available as needed and will continue to stay closely involved in all key matters. This transition will allow us to dedicate even more focus to driving the operational success of the business.
Cheers,
Mike and Frank
Before I provide a number of updates on progress, opportunities, and challenges for BRIDGE Bike Works, I’d like to introduce myself. My name is Allen Taylor, and I am the Chair, Advisory & Investor Relations. What that role entails, put simply, is that going forward, I will be responsible for maintaining consistent, timely, and appropriate communications with our investor/shareholder community while also chairing a new to-be-established Advisory Board to the Founders of BRIDGE Bike Works. In addition, I am responsible for finding and securing additional equity investments for the company. For a brief look at my credentials, my LinkedIn profile might be a simple reference point. Some of the above is actually a formalization of the work I have been doing with Frank and Michael for some time now - spending time with them reviewing their business planning and their ongoing execution of those plans. Along the way, I have evolved into becoming the “Lead Investor” based on the level of funding I have provided (CAD$1 million). That level of funding, when combined with my belief in the business itself, its potential, and in the quality of the people involved, makes me an engaged advocate for both building shareholder value and attracting the investments needed to continue to grow BRIDGE. Building a carbon fibre bicycle, from scratch, 100% in Canada, is something unique, interesting, and inspiring. The fact that the bicycle is also a beautiful piece of engineering and is a pure joy to ride isn’t just a bonus - it’s game changing. BRIDGE has the potential to own a growing category in the market, currently coined as “all-road”. Backed by an important patent-pending “world first” bottom bracket design, the Surveyor is turning heads and garnering stellar reviews wherever we’re able to show it off. And that’s the theme of this update - sustaining production excellence and building sales performance. BRIDGE has had a very active start to 2026. Significant momentum is building behind the sales and marketing efforts. The biggest shift this quarter has been moving from the experience center concept to a more agile and higher impact Road Tour program. This is a mobile demo and event strategy centered around a fully equipped touring van. It was decided to make this pivot in mid-January and the whole team has been hard at work turning it into reality in a very short period of time.
Sales Performance
The sales target for Q1 was 10 units per month, or 30 units. Actual performance fell short with 21 units in total being delivered. While that total came in below the target, there are some encouraging aspects and a silver lining to this start. With no order backlog, and with ostensibly little to no real marketing activity, BRIDGE actually performed quite well all things considered. As I will outline a little further on in this communiqué, as marketing and sales efforts ramp up, the expectations for 2026 are very optimistic.
With BRIDGE’s constant focus on lean manufacturing, including near complete digitization of their production floor, they are positioned to produce at a profitable pace. Sales is now the main focus.
Marketing and Road Tour Program
The company has leased and customized a 2020 Mercedes Sprinter van to serve as our mobile showroom. The van will carry up to 12 demo bikes plus full tradeshow gear.
Chris Harris, an experienced sales professional and passionate rider, has been hired as BRIDGE’s Director - Field Sales, Brand and Events. He began the program with a dry run in London, Ontario where over 15 people jumped on demo rides (and generated at least two new bike sales). He is now on his way to the first major event in Virginia, called Appalachian Journey. He will have many stops on his way to Sea Otter, in California (a major trade show in the cycling world - North America’s largest end-user and media show).
Main confirmed events beyond Sea Otter include Unbound Gravel, OG Classique, MADE, Whistler GranFondo, Big Sugar, and several other local events throughout the summer and running through October. All in all, almost 40 events are in the schedule with more to be added in the coming weeks. Part of this effort includes detailed tracking of what does and doesn’t work from a sales conversion perspective, adjusting and iterating what works and building this knowledge into every subsequent event. I’m excited to see this unfold and looking forward to sharing updates with you along the way. For anyone wanting a full/comprehensive list of where and when BRIDGE will be on tour, please reach out to me and I’ll provide that information.
Demo Fleet and Event Readiness
15 new demo bikes have been built which brings the total demo fleet to 22 bikes. These will be deployed at shows, on the road at tour events, local demo days with potential customers and dealers, and with reviewers.
The BRIDGE team has also completed the design and build out of custom tents, signage, cycling kits, merchandise, and a professional trade show display wall. All items are either in-house, in the van, or on their way (as we speak) before we hit the Sea Otter show.
The combination of a mobile demo van, a strong Director - Field Sales, Brand and Events, and a full demo fleet represents a massive step forward (and a significant investment) in terms of sales generation activities. BRIDGE now has the tools to put far more people on Surveyors than ever before. Getting riders on the bike remains THE MOST effective way to close sales.
Marketing and Brand Momentum
Product reviews are advancing well. If you’d like to skim through them, here is a link to have a look. BRIDGE currently has test bikes with Bicycling Magazine and Cyclist - both reputable and influential resources for new cycling purchases. Additional test bikes are heading to Escape Collective and Bike Rumor, plus several prominent YouTubers in the coming weeks/months. Planned for May/June, BRIDGE is launching the BRIDGE Factory Race Team consisting of five committed riders, three men and two women, who will race Surveyors across Ontario, Quebec, and beyond. Stay tuned for the official launch!BRIDGE is also exploring a potential showcase with Roleur in the UK this November. While expensive, it could serve as a smart entry point into the European market. Grant opportunities to offset costs for this, and other export-related sales activities, are being pursued. Additionally, The BRIDGE team has commenced early conversations with a South East Asian sales agent who, with literal boots on the ground, can act independently to build market opportunities there while the team in Toronto puts most of its efforts towards the North American market.
Product Development
As part of a 2 year product development roadmap, BRIDGE has engaged the founder and former designer of Chapter2 to begin shaping the design identity for what’s next. His exceptional design sensibility and deep industry experience complement the existing team perfectly. More to come on this in the near future.Closing Comments
In the coming weeks, I will be busy establishing the formal Advisory Board along with co-creating our structure and work plan with input from the founders, Frank Gairdner and Michael Yakubowicz. I’ll share a more fulsome report on who we are and what we’re doing to support BRIDGE in the next Shareholder Update.
I would be remiss if I didn’t include a brief note, or call to action, around our continued need and search for additional equity investment. The road to profitability, sustainable growth, new product development, and ultimately the successful evolution of BRIDGE Bike Works from a start-up to a mature phase company still requires additional patient capital. Any assistance, financial or otherwise in the form of leads or introductions, would be greatly appreciated!
Warm regards,
Allen S. Taylor
Chair, Advisory & Investor Relations
allen@bridgebikeworks.com
905-802-2884
