Happy spring! As the new season blooms, we’re hitting our stride at Bridge Bike Works, and with Robert, our new CFO, assisting with financial analysis and strategy, 2025 is shaping up to be a breakout year. Here’s the latest from Toronto HQ—proof we’re not just pedalling in place.
Financial Reporting: Gearing Up for Clarity
We’re building a dashboard to deliver real-time performance metrics to track our climb. Historically, we’ve been heavy on product and production development—think of the last 1.5 years as laying the foundation for scaling. Revenue growth lagged our 2021/2022 forecasts (2024 hit ~$605K), thanks to unexpected hurdles and founder optimism meeting reality. This year we expect to see some solid growth toward a cash-flow positive run-rate.
A bookkeeper transition at the beginning of this year delayed this update, but with Robert and a new bookkeeper starting this week, expect a dashboard soon. Want to dive deeper? We're here for one-on-ones.
It is our plan to continue working towards better and more consistent shareholder reporting, as well as organize an event to get as many of you together as possible. Priorities are heavily on production and selling towards a cash-flow positive run-rate, but we of course want to keep all of you informed to the best of our abilities. Stay tuned.
Fundraising: Fueling the Ride
We’re still in the saddle raising funds—and your support is the wind at our backs. Spring’s momentum is very positive: we’re meeting top-tier investors, partnering with others to widen our net, and just landed a $75K government grant to research robotics in our post-production processes.
Introductions or additional investment could add fuel to this Canadian cycling revolution. As always, please reach out to us if you are interested in topping up, have introductions, or general advice on how to accelerate our progress towards getting out of fundraising mode and toward a cashflow positive position.
Sales & Marketing: Hitting the Road Hard
This month, we attended Sea Otter in Monterey, California. It was a great success with our partnership with Wolf Tooth and our ability to get 3 additional bikes to Editors for review. Please follow us on instagram to stay tuned or check here for updated media links.
We worked with Josh Ross from VeloNews, Ben Delaney from The Ride, and James “AngryAsian” Huang (ex-Escape now N-1)—their reviews should ignite our buzz as it is the first time multiple editors will have something to say about the Surveyor. More reviews are in the works with 2-3 factory tours + rides in the works for other writers.
We also met our first U.S. sales agent (25+ years ex-CUBE) and have commenced an 8-10 week trial to snag summer build slots and assess the viability of a U.S. agent. January’s record 13-frame output gets a Q2 boost from Lean practices. It’s not fully dialed in yet, but our iterations are heading in the right direction with performance implementations much more clearly executable due to data analytics and skillset developments.
As our production becomes much more predictable and we continue to scale, our focus is now spread to sales and marketing to ensure we fill the pipeline. Currently, we are 3-4 months away from working through all orders on the books right now. More than ever, our efforts are pointed towards increasing focus, time and resources on selling.
Two Ontarian ambassadors scored Surveyors for summer—a campaign sparking buzz and content gold. On April 25, a Globe and Mail business editor visited tp spotlight our Canadian manufacturing story—assisting with our buzz. This is a great opportunity for us to highlight what we are doing in national media, and a source outside of our industry. The article should be printed in June.
In other news, one of our main comparable manufacturers south of the border, Allied, has moved a portion of their manufacturing offshore. This news has momentarily benefitted us, as our story is much cleaner now. We are one of two pure carbon fiber bicycle manufacturers in North America. Made-here really has a tail-wind.
It is becoming clearer that we’re not just building bikes—we’re building a legacy.
Thank you for your support and patience as we scale-up. We hope to report back soon and get these updates going out more frequently. Rest assured, any delays are purely due to the heads-down nature of our whole team grinding away at building the best possible platform for success.
Cheers,
Mike and Frank
