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Urgent.ly (ULY) - 2025 Q1 - Quarterly Report
2025-05-14 12:30
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2025 OR Securities registered pursuant to Section 12(b) of the Act: | | Trading | | | --- | --- | --- | | Title of each class | Symbol(s) | Name of each exchange on which registered | | Common stock, par value $0.001 per share | ULY | NASDAQ | Indicate by check mark whether the registrant ...
Urgent.ly (ULY) - 2025 Q1 - Earnings Call Transcript
2025-05-13 22:00
Urgent.ly (ULY) Q1 2025 Earnings Call May 13, 2025 05:00 PM ET Speaker0 Good afternoon, and welcome to Urgently's First Quarter twenty twenty five Conference Call. As a reminder, today's call is being recorded and your participation implies consent to such recording. At this time, all participants are in a listen only mode. A brief question and answer session will follow the formal presentation. With that, I would like to turn the call over to Ms. Jenny Mitchell, Vice President of Finance Strategy and Inves ...
Urgent.ly (ULY) - 2025 Q1 - Quarterly Results
2025-05-13 20:10
EXHIBIT 99.1 URGENTLY ANNOUNCES FIRST QUARTER 2025 FINANCIAL RESULTS Achieves Revenue In Line With Expectations With Record Gross Margin VIENNA, VA – May 13, 2025 – Urgent.ly Inc. (Nasdaq: ULY) ("Urgently"), a U.S.-based leading provider of digital roadside and mobility assistance technology and services, today reported financial results for the first quarter ended March 31, 2025. "I am pleased with our solid start to the year, as we delivered revenue in line with our expectations and record gross margin of ...
Urgently Announces First Quarter 2025 Financial Results
GlobeNewswire· 2025-05-13 20:05
Achieves Revenue In Line With Expectations With Record Gross MarginVIENNA, Va., May 13, 2025 (GLOBE NEWSWIRE) -- Urgent.ly Inc. (Nasdaq: ULY) (“Urgently”), a U.S.-based leading provider of digital roadside and mobility assistance technology and services, today reported financial results for the first quarter ended March 31, 2025. “I am pleased with our solid start to the year, as we delivered revenue in line with our expectations and record gross margin of 26%. In addition, we achieved GAAP operating loss i ...
Urgently Announces First Quarter 2025 Earnings Release Date and Conference Call; Participation in Upcoming Investor Conferences
GlobeNewswire· 2025-04-29 21:00
Core Viewpoint - Urgently, a leading provider of digital roadside and mobility assistance technology, announced the date for its first quarter 2025 financial results and participation in upcoming investor conferences [1][2]. Financial Results - Urgently will host a conference call on May 13, 2025, at 5:00 p.m. Eastern Time to discuss its financial results for the first quarter ended March 31, 2025 [2]. - Financial results will be issued in a press release prior to the call [2]. Investor Participation - The company will participate in several upcoming investor conferences during the first quarter of 2025 [4]. - The Sidoti Micro-Cap Virtual Investor Conference is scheduled for May 21, 2025, with CEO Matt Booth and CFO Tim Huffmyer presenting at 10:45 a.m. Eastern Time [6]. - The Jefferies Automotive Aftermarket Private and Public Conference will take place on May 22, 2025, with presentations by Matt Booth and Senior VP Harrison Russell [6]. Company Overview - Urgently focuses on providing safe and uninterrupted mobility by utilizing technology to assist drivers and prevent potential issues [5]. - The company's software platform integrates location-based services, real-time data, AI, and machine-to-machine communication to enhance roadside assistance solutions [5]. - Urgently aims to deliver exceptional user experiences and high customer satisfaction through innovative connected mobility assistance services [5].
Urgently Notified By Nasdaq Of Non-Compliance With Nasdaq’s Continued Listing Standards
GlobeNewswire· 2025-03-24 21:00
Core Viewpoint - Urgently Inc. has received a notice from Nasdaq indicating that its net income from continuing operations has fallen below the minimum requirement for continued listing on the Nasdaq Capital Market, necessitating a compliance plan to regain compliance with listing standards [1][2][3] Group 1: Compliance and Listing Standards - Urgently has 45 calendar days, until May 5, 2025, to submit a Compliance Plan to Nasdaq to address the failure to meet the Continued Listing Standards [2] - If the Compliance Plan is accepted, Nasdaq may grant an extension of up to 180 calendar days from the date of the notice [2] - There is no assurance that Nasdaq will accept the Compliance Plan or that Urgently will regain compliance with the Continued Listing Standards [3] Group 2: Company Overview - Urgently is a leading provider of digital roadside and mobility assistance technology and services, focusing on enhancing safety and efficiency for drivers [4] - The company utilizes a digitally native software platform that integrates location-based services, real-time data, AI, and machine-to-machine communication to deliver roadside assistance solutions [4] - Urgently aims to fulfill the demand for connected roadside assistance services, enhancing user experiences and driving customer satisfaction and loyalty [4]
Urgently Notified By Nasdaq Of Non-Compliance With Nasdaq's Continued Listing Standards
Newsfilter· 2025-03-24 21:00
Core Viewpoint - Urgently Inc. has received a notice from Nasdaq indicating that its net income from continuing operations has fallen below the minimum requirement for continued listing on the Nasdaq Capital Market, which may lead to potential delisting if compliance is not achieved [1][2]. Group 1: Compliance and Listing Standards - Urgently has 45 calendar days, until May 5, 2025, to submit a Compliance Plan to Nasdaq to regain compliance with the Continued Listing Standards [2]. - If Nasdaq accepts the Compliance Plan, an extension of up to 180 calendar days may be granted [2]. - There is no assurance that Nasdaq will accept the Compliance Plan or that Urgently will regain compliance with the Continued Listing Standards in the future [3]. Group 2: Company Overview - Urgently is a leading provider of digital roadside and mobility assistance technology and services, focusing on enhancing driver safety and experience through innovative technology [4]. - The company's platform integrates location-based services, real-time data, AI, and machine-to-machine communication to deliver connected roadside assistance solutions [4]. - Urgently aims to provide exceptional user experiences that drive customer satisfaction and loyalty across various transportation-focused sectors [4].
Urgently Secures Multi-Year Contract with On-Demand Towing and Roadside Assistance Company
GlobeNewswire· 2025-03-18 13:00
Core Insights - Urgently has announced a multi-year partnership with an innovative provider of on-demand towing and roadside assistance, set to enhance its service offerings across North America [1][3] - The partnership will leverage Urgently's connected assistance platform to improve the customer partner's roadside assistance services, focusing on streamlined operations and exceptional user experiences [2][3] - This collaboration is expected to increase Urgently's volume and revenue while enhancing the customer experience for the new partner through access to Urgently's network of trusted service providers [3][4] Company Overview - Urgently is a leading provider of digital roadside and mobility assistance technology, aiming to ensure safe and uninterrupted travel for drivers through innovative technology [5] - The company's platform integrates location-based services, real-time data, AI, and machine-to-machine communication to deliver connected roadside assistance solutions for various sectors, including automotive and insurance [5] - Urgently's focus is on creating exceptional user experiences that drive customer satisfaction and loyalty, positioning itself as an industry leader in connected mobility assistance [5]
Urgent.ly (ULY) - 2024 Q4 - Annual Report
2025-03-14 20:05
Acquisition and Partnerships - The company completed the acquisition of Otonomo Technologies Ltd. on October 19, 2023, issuing 5,435,568 shares of Common Stock to former Otonomo shareholders[283]. - The company renewed and expanded nine existing Customer Partners and acquired four new ones in 2024[288]. - A key Customer Partner, accounting for approximately 25% of revenue in 2023, did not renew its agreement in January 2024[288]. Financial Performance - Total revenue decreased by $41.7 million, or 23%, to $142.9 million in 2024 from $184.7 million in 2023, primarily due to a decrease in dispatch volumes and the non-renewal of a major customer partner[321]. - Cost of revenue decreased by $35.4 million, or 24%, to $111.3 million in 2024 from $146.8 million in 2023, mainly due to a decline in dispatch volume and reduced Service Provider fees[322]. - Gross profit for 2024 was $31.6 million, with a gross margin of 22%, compared to $37.9 million and a 21% margin in 2023, reflecting an increase in revenue per dispatch[323]. - The non-GAAP operating loss for 2024 was $17.20 million, an improvement from a loss of $20.96 million in 2023[304]. Operating Expenses - The company generated non-GAAP operating expenses of $48.76 million in 2024, down from $58.84 million in 2023[302]. - Research and development expenses decreased by $3.0 million, or 18%, to $13.9 million in 2024, with a 1% increase in R&D expense as a percentage of total revenue to 10%[324][326]. - Sales and marketing expenses increased by $0.8 million, or 16%, to $5.9 million in 2024, with a 1% increase in this expense as a percentage of total revenue to 4%[327][328]. - Operations and support expenses decreased by $10.9 million, or 45%, to $13.4 million in 2024, with a 4% decrease in this expense as a percentage of total revenue to 9%[329][330]. - General and administrative expenses decreased by $15.4 million, or 42%, to $21.3 million in 2024, with a 6% decrease in this expense as a percentage of total revenue to 14%[331][332]. - Depreciation and amortization expense increased by $3.2 million, or 327%, to $4.2 million in 2024, primarily due to amortization of intangible assets acquired in the merger[333]. Cash Flow and Liquidity - The company reported a net cash used in operating activities of $30.8 million for the year ended December 31, 2024, primarily due to a net loss of $44.0 million[351]. - For the year ended December 31, 2024, net cash provided by investing activities was $24.7 million, mainly from the sale of marketable securities totaling $32.3 million[353]. - The company has a working capital deficit, with current liabilities exceeding current assets, impacting liquidity needs[345]. - Total material cash requirements for the next 12 months amount to $22.5 million, with total obligations beyond 12 months reaching $48.5 million, resulting in total cash obligations of $71.0 million[349]. - The company amended its Highbridge Loan Agreement to extend the maturity date to July 31, 2026, and modified the interest rate to 16.0% per annum for a specified period[341]. - In February 2025, the company entered into a MidCap Credit Agreement with a principal amount not exceeding $20.0 million, with $10.7 million in revolving loans outstanding as of February 26, 2025[340]. Future Outlook - The company expects operating expenses to decrease in the short term but increase in the long term as it continues targeted investments in growth[291]. - The company expects to capitalize software costs between $4.0 million and $5.0 million during 2025 for internal development and Customer Partner implementations[354]. - The company may seek additional capital through equity securities or debt financing arrangements to support future operations and growth initiatives[346]. - The company has consistently maintained a working capital deficit due to the nature of its business model, which affects cash flow timing[345]. Customer Satisfaction - Customer satisfaction ratings (CSAT) were 4.5 for both 2024 and 2023, indicating consistent consumer service quality[297]. Dispatch and Service Metrics - As of December 31, 2024, the company had 49 Customer Partners and over 75,400 participating Service Provider vehicle drivers in its network[280]. - In 2024, the company completed approximately 0.9 million dispatches, a decrease from 1.1 million in 2023[299].
Urgent.ly Inc. Announces Reverse Stock Split to Regain Nasdaq Compliance
GlobeNewswire· 2025-03-13 12:30
Core Viewpoint - Urgently Inc. will implement a reverse stock split at a ratio of 1-for-12 to comply with Nasdaq's minimum bid price requirement of $1.00 per share, effective March 17, 2025 [1] Group 1: Reverse Stock Split Details - The reverse stock split will combine every 12 shares of common stock into one share, reducing the total number of authorized shares from 1 billion to 500 million [3] - The CUSIP number for Urgently's common stock will change to 916931207 following the reverse stock split [2] - Fractional shares resulting from the reverse stock split will be paid out in cash based on the closing trading price prior to the effective time [3] Group 2: Adjustments and Impact - Proportional adjustments will be made to the number of shares issuable upon the exercise of outstanding warrants, stock options, and restricted stock units, along with adjustments to exercise prices and stock price targets [4] - The reverse stock split was approved by stockholders at a Special Meeting held on March 12, 2025, granting the board authority to determine the final ratio [1][5] Group 3: Company Overview - Urgently is a provider of digital roadside and mobility assistance technology, focusing on enhancing driver safety and experience through innovative technology [7] - The company utilizes a digitally native software platform that integrates location-based services, real-time data, and AI to deliver roadside assistance solutions [7]