Urgent.ly Inc ( (ULY) ) has released its Q4 earnings. Here is a breakdown of the information Urgent.ly Inc presented to its investors.
Urgent.ly Inc. is a U.S.-based company specializing in digital roadside and mobility assistance technology and services, leveraging a platform that integrates location-based services, real-time data, and AI to support automotive, insurance, and telematics industries.
In its latest earnings report, Urgent.ly Inc. announced financial results for the fourth quarter and full-year 2024, highlighting efforts to enhance profitability and expand margins. The company reported revenue in line with expectations, alongside improvements in gross profit margins and operating losses.
Key financial metrics for the year included a revenue of $142.9 million, a 23% decrease from the previous year, and a gross profit of $31.6 million, down 17% year over year. Despite these declines, the company achieved a 41% improvement in GAAP operating loss and an 18% improvement in non-GAAP operating loss. Additionally, Urgent.ly reduced its principal debt by $17.5 million and maintained a high consumer satisfaction score of 4.5 out of 5 stars.
Strategically, Urgent.ly secured new credit facilities to improve financial flexibility and announced a reverse stock split to comply with Nasdaq listing requirements. These steps are part of the company’s broader strategy to transform the roadside assistance market and develop new mobility services globally.
Looking ahead, Urgent.ly’s management remains focused on executing strategic initiatives to drive stockholder value in 2025, with an emphasis on operational efficiencies, disciplined expense management, and expanding its customer base.